HAVELLS IND Announces Quarterly Results (1QFY21); Net Profit Down 63.6%

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HAVELLS IND Announces Quarterly Results (1QFY21); Net Profit Down 63.6%
Wed, 26 Aug

HAVELLS IND has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

HAVELLS IND Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m27,12022,16114,791-33.3%-45.5%
Other incomeRs m39719532264.9%-18.9%
TurnoverRs m27,51722,35715,113-32.4%-45.1%
ExpensesRs m24,36319,70813,483-31.6%-44.7%
Gross profitRs m2,7572,4531,309-46.7%-52.5%
DepreciationRs m469625604-3.4%28.8%
InterestRs m4746167263.5%254.2%
Profit before taxRs m2,6371,977860-56.5%-67.4%
TaxRs m89820522610.2%-74.8%
Profit after taxRs m1,7391,772633-64.3%-63.6%
Gross profit margin%10.211.18.8
Effective tax rate%34.110.426.3
Net profit margin%6.37.94.2
* 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 45.5% on a year-on-year (YoY) basis. The expenses were down by 44.7% YoY during the same period.
  • The company's operating profit declined by 52.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.8% in 1QFY21 as against 10.2% in 1QFY20.
  • Depreciation charges increased by 28.8% and finance costs increased by 254.2% YoY, respectively.
  • Other income declined by 18.9% YoY during the quarter.
  • Net profit for the quarter declined by 63.6% YoY. Net profit margins during the quarter declined from 6.3% in 1QFY20 to 4.2% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 33.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 31.6% QoQ during the same period.
  • The company's operating profit declined by 46.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.8% in 1QFY21 as against 11.1% in 4QFY20.
  • Net profit for the quarter declined by 64.3% QoQ, while net profit margins declined from 7.9% in 4QFY20 to 4.2% in 1QFY21.

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

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HAVELLS IND Share Price Performance

Over the last one year,HAVELLS IND share price has moved up from Rs 653.7 to Rs 660.4, registering a Gain of Rs 6.7 or around 1.0%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 23,411.7 (up 0.5%). Over the last one year it has moved up from 23,153.3 to 23,411.7, a gain of 258 points (up 1.1%).

Overall, the S&P BSE SENSEX is up 3.7% over the year.

Current Valuations

At the current price of Rs 660.4, the price to earnings (P/E) ratio of HAVELLS IND stands at 66.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.8 times.

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