GREAVES COTTON Announces Quarterly Results (4QFY19); Net Profit Down 34.0%

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GREAVES COTTON Announces Quarterly Results (4QFY19); Net Profit Down 34.0%
Tue, 7 May

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

GREAVES COTTON Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m4,8625,0655,2814.3%8.6%
Other incomeRs m15010186-14.9%-43.0%
TurnoverRs m5,0125,1655,3673.9%7.1%
ExpensesRs m4,1634,3594,5815.1%10.1%
Gross profitRs m832656571-12.9%-31.3%
DepreciationRs m131121117-3.1%-11.0%
InterestRs m6105-48.0%-13.3%
Profit before taxRs m844625535-14.5%-36.7%
TaxRs m278198161-19.0%-42.2%
Profit after taxRs m567427374-12.5%-34.0%
Gross profit margin%17.112.910.8
Effective tax rate%32.931.730.1
Net profit margin%11.38.37.0
* 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 8.6% on a year-on-year (YoY) basis. The expenses were up by 10.1% YoY during the same period.
  • The company's operating profit declined by 31.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.8% in 4QFY19 as against 17.1% in 4QFY18.
  • Depreciation charges declined by 11.0% and finance costs declined by 13.3% YoY, respectively.
  • Other income declined by 43.0% YoY during the quarter.
  • Net profit for the quarter declined by 34.0% YoY. Net profit margins during the quarter declined from 11.3% in 4QFY18 to 7.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.1% QoQ during the same period.
  • The company's operating profit declined by 12.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.8% in 4QFY19 as against 12.9% in 3QFY18.
  • Net profit for the quarter declined by 12.5% QoQ, while net profit margins declined from 8.3% in 3QFY18 to 7.0% in 4QFY19.

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 up from Rs 141.6 to Rs 148.0, registering a Gain of Rs 6.5 or around 4.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,007.6 (up 0.6%). Over the last one year it has moved down from 19,331.3 to 18,007.6, a gain of 1,324 points (down 6.8%).

Overall, the S&P BSE SENSEX is up 9.9% over the year.

Current Valuations

At the current price of Rs 148.0, the price to earnings (P/E) ratio of GREAVES COTTON stands at 21.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.7 times.

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