GRASIM IND. Announces Quarterly Results (3QFY19); Net Profit Down 5.1%

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GRASIM IND. Announces Quarterly Results (3QFY19); Net Profit Down 5.1%
Tue, 12 Feb

GRASIM IND. has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

GRASIM IND. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m152,914167,950184,1859.7%20.4%
Other incomeRs m2,3233,0151,726-42.7%-25.7%
TurnoverRs m155,238170,965185,9118.7%19.8%
ExpensesRs m128,278142,421156,3279.8%21.9%
Gross profitRs m24,636-5227,85813.1%
DepreciationRs m7,1568,0578,3493.6%16.7%
InterestRs m3,8784,1294,65312.7%20.0%
Profit before taxRs m15,926-9,22416,5834.1%
TaxRs m4,6753,7755,90156.3%26.2%
Profit after taxRs m11,251-12,99910,681-5.1%
Gross profit margin%16.10.015.1
Effective tax rate%29.4-40.935.6
Net profit margin%7.2-7.65.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 20.4% on a year-on-year (YoY) basis. The expenses were up by 21.9% YoY during the same period.
  • The company's operating profit increased by 13.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.1% in 3QFY19 as against 16.1% in 3QFY18.
  • Depreciation charges increased by 16.7% and finance costs increased by 20.0% YoY, respectively.
  • Other income declined by 25.7% YoY during the quarter.
  • Net profit for the quarter declined by 5.1% YoY. Net profit margins during the quarter declined from 7.2% in 3QFY18 to 5.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 9.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 9.8% QoQ during the same period.
  • The company's operating profit increased by 53983.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.1% in 3QFY19 as against 0.0% in 2QFY18.
  • Net profit for the quarter increased by 182.2% QoQ, while net profit margins increased from -7.6% in 2QFY18 to 5.7% in 3QFY19.

To see how GRASIM IND. has performed over the last eight quarters, please visit here.

GRASIM IND. Share Price Performance

Over the last one year, GRASIM IND. share price has moved up from Rs 1,132.5 to Rs 714.3, registering a Loss of Rs 418.2 or around 36.9%.

Overall, the S&P BSE SENSEX is up 6.1% over the year.

Current Valuations

At the current price of Rs 714.3, the price to earnings (P/E) ratio of GRASIM IND. stands at 15.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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