GSFC Announces Quarterly Results (4QFY19); Net Profit Down 45.5%

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GSFC Announces Quarterly Results (4QFY19); Net Profit Down 45.5%
Mon, 27 May

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

GSFC Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m20,55319,93921,3847.2%4.0%
Other incomeRs m304200154-23.1%-49.4%
TurnoverRs m20,85620,13921,5386.9%3.3%
ExpensesRs m18,28318,41519,7497.2%8.0%
Gross profitRs m2,5361,5241,6357.3%-35.5%
DepreciationRs m3003103316.8%10.3%
InterestRs m12910913826.2%6.8%
Profit before taxRs m2,4111,3051,3201.2%-45.2%
TaxRs m5803163232.2%-44.4%
Profit after taxRs m1,8319899980.8%-45.5%
Gross profit margin%12.37.67.6
Effective tax rate%24.124.224.4
Net profit margin%8.84.94.6
* 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 4.0% on a year-on-year (YoY) basis. The expenses were up by 8.0% YoY during the same period.
  • The company's operating profit declined by 35.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.6% in 4QFY19 as against 12.3% in 4QFY18.
  • Depreciation charges increased by 10.3% and finance costs increased by 6.8% YoY, respectively.
  • Other income declined by 49.4% YoY during the quarter.
  • Net profit for the quarter declined by 45.5% YoY. Net profit margins during the quarter declined from 8.8% in 4QFY18 to 4.6% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.2% 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 7.6% in 4QFY19 as against 7.6% in 3QFY18.
  • Net profit for the quarter increased by 0.8% QoQ, while net profit margins declined from 4.9% in 3QFY18 to 4.6% in 4QFY19.

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

GSFC Share Price Performance

Over the last one year, GSFC share price has moved up from Rs 114.1 to Rs 104.7, registering a Loss of Rs 9.4 or around 8.2%.

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 104.7, the price to earnings (P/E) ratio of GSFC stands at 8.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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For the quarter ended June 2019, GSFC has posted a net profit of Rs 633 m (down 10.5% YoY). Sales on the other hand came in at Rs 17 bn (down 3.5% YoY). Read on for a complete analysis of GSFC's quarterly results.

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