GREAVES COTTON Announces Quarterly Results (2QFY20); Net Profit Down 8.3%

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GREAVES COTTON Announces Quarterly Results (2QFY20); Net Profit Down 8.3%
Fri, 8 Nov

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

GREAVES COTTON Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m4,9514,7684,9002.8%-1.0%
Other incomeRs m1277462-15.9%-50.8%
TurnoverRs m5,0784,8434,9632.5%-2.3%
ExpensesRs m4,2184,1564,3093.7%2.2%
Gross profitRs m7336136424.7%-12.4%
DepreciationRs m12512314316.9%14.4%
InterestRs m136951.6%-28.8%
Profit before taxRs m721558551-1.2%-23.5%
TaxRs m22717699-44.0%-56.6%
Profit after taxRs m49438245318.6%-8.3%
Gross profit margin%14.812.813.1
Effective tax rate%31.531.617.9
Net profit margin%9.77.99.1
* 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 fell 1.0% on a year-on-year (YoY) basis. The expenses were up by 2.2% YoY during the same period.
  • The company's operating profit declined by 12.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 2QFY20 as against 14.8% in 2QFY19.
  • Depreciation charges increased by 14.4% and finance costs declined by 28.8% YoY, respectively.
  • Other income declined by 50.8% YoY during the quarter.
  • Net profit for the quarter declined by 8.3% YoY. Net profit margins during the quarter declined from 9.7% in 2QFY19 to 9.1% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.7% QoQ during the same period.
  • The company's operating profit increased by 4.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.1% in 2QFY20 as against 12.8% in 1QFY19.
  • Net profit for the quarter increased by 18.6% QoQ, while net profit margins increased from 7.9% in 1QFY19 to 9.1% in 2QFY20.

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

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GREAVES COTTON Share Price Performance

Over the last one year,GREAVES COTTON share price has moved up from Rs 122.8 to Rs 132.9, registering a Gain of Rs 10.1 or around 8.2%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,543.9 (up 0.3%). Over the last one year it has moved up from 18,196.5 to 18,543.9, a gain of 347 points (up 1.9%).

Overall, the S&P BSE SENSEX is up 15.1% over the year.

Current Valuations

At the current price of Rs 132.9, the price to earnings (P/E) ratio of GREAVES COTTON stands at 19.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.3 times.

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