GREAVES COTTON Announces Quarterly Results (1QFY20); Net Profit Down 4.2%

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Markets will remain closed on 21st October 2019, due to Assembly Elections in Maharashtra.

GREAVES COTTON Announces Quarterly Results (1QFY20); Net Profit Down 4.2%
Tue, 13 Aug

GREAVES COTTON has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

GREAVES COTTON Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m4,5825,2814,768-9.7%4.1%
Other incomeRs m1038674-13.3%-28.2%
TurnoverRs m4,6855,3674,843-9.8%3.4%
ExpensesRs m3,9724,5814,156-9.3%4.6%
Gross profitRs m6095716137.3%0.5%
DepreciationRs m1251171234.9%-2.2%
InterestRs m55619.2%26.5%
Profit before taxRs m5825355584.4%-4.2%
TaxRs m1841611769.7%-4.1%
Profit after taxRs m3983743822.1%-4.2%
Gross profit margin%13.310.812.8
Effective tax rate%31.630.131.6
Net profit margin%8.57.07.9
* 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 4.1% on a year-on-year (YoY) basis. The expenses were up by 4.6% YoY during the same period.
  • The company's operating profit increased by 0.5% YoY during the quarter. Consequently, operating profit margins remained same and stood at 12.8% in 1QFY20.
  • Depreciation charges declined by 2.2% and finance costs increased by 26.5% YoY, respectively.
  • Other income declined by 28.2% YoY during the quarter.
  • Net profit for the quarter declined by 4.2% YoY. Net profit margins during the quarter declined from 8.5% in 1QFY19 to 7.9% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 9.3% QoQ during the same period.
  • The company's operating profit increased by 7.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.8% in 1QFY20 as against 10.8% in 4QFY19.
  • Net profit for the quarter increased by 2.1% QoQ, while net profit margins increased from 7.0% in 4QFY19 to 7.9% in 1QFY20.

To see how GREAVES COTTON has performed over the last eight quarters,please visit here.

GREAVES COTTON Share Price Performance

Over the last one year,GREAVES COTTON share price has moved down from Rs 151.0 to Rs 117.4, registering a Loss of Rs 33.6 or around 22.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,102.1 (down 1.2%). Over the last one year it has moved down from 18,029.9 to 17,102.1, a gain of 928 points (down 5.1%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 117.4, the price to earnings (P/E) ratio of GREAVES COTTON stands at 17.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.

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