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FEDERAL - MOGUL G Announces Quarterly Results (2QFY19); Net Profit Down 7.8%

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FEDERAL - MOGUL G Announces Quarterly Results (2QFY19); Net Profit Down 7.8%
Mon, 12 Nov

FEDERAL - MOGUL G has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

FEDERAL - MOGUL G Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m3,3023,3923,4311.1%3.9%
Other incomeRs m8246111142.0%35.6%
TurnoverRs m3,3833,4383,5423.0%4.7%
ExpensesRs m2,8042,8282,9905.7%6.6%
Gross profitRs m498565441-21.9%-11.5%
DepreciationRs m1891962054.7%8.5%
InterestRs m272323-2.5%-15.2%
Profit before taxRs m364391324-17.3%-11.0%
TaxRs m135137113-17.3%-16.4%
Profit after taxRs m228254210-17.2%-7.8%
Gross profit margin%15.116.612.8
Effective tax rate%37.235.034.9
Net profit margin%6.87.45.9
* 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 3.9% on a year-on-year (YoY) basis. The expenses were up by 6.6% YoY during the same period.
  • The company's operating profit declined by 11.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.8% in 2QFY19 as against 15.1% in 2QFY18.
  • Depreciation charges increased by 8.5% and finance costs declined by 15.2% YoY, respectively.
  • Other income increased by 35.6% YoY during the quarter.
  • Net profit for the quarter declined by 7.8% YoY. Net profit margins during the quarter declined from 6.8% in 2QFY18 to 5.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.7% QoQ during the same period.
  • The company's operating profit declined by 21.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.8% in 2QFY19 as against 16.6% in 1QFY18.
  • Net profit for the quarter declined by 17.2% QoQ, while net profit margins declined from 7.4% in 1QFY18 to 5.9% in 2QFY19.

To see how FEDERAL - MOGUL G has performed over the last eight quarters, please visit here.

FEDERAL - MOGUL G Share Price Performance

Over the last one year, FEDERAL - MOGUL G share price has moved up from Rs 492.8 to Rs 420.0, registering a Loss of Rs 72.8 or around 14.8%.

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 420.0, the price to earnings (P/E) ratio of FEDERAL - MOGUL G stands at 27.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.3 times.

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