HAVELLS IND Announces Quarterly Results (2QFY19); Net Profit Up 4.4%

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HAVELLS IND Announces Quarterly Results (2QFY19); Net Profit Up 4.4%
Fri, 19 Oct

HAVELLS IND has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

HAVELLS IND Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m17,77425,96321,910-15.6%23.3%
Other incomeRs m28729234317.5%19.6%
TurnoverRs m18,06126,25622,253-15.2%23.2%
ExpensesRs m15,20522,84119,285-15.6%26.8%
Gross profitRs m2,5693,1232,625-15.9%2.2%
DepreciationRs m34935039111.7%12.2%
InterestRs m67263743.5%-45.5%
Profit before taxRs m2,4403,0392,540-16.4%4.1%
TaxRs m730935754-19.3%3.3%
Profit after taxRs m1,7102,1041,786-15.1%4.4%
Gross profit margin%14.512.012.0
Effective tax rate%29.930.829.7
Net profit margin%9.58.08.0
* 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 23.3% on a year-on-year (YoY) basis. The expenses were up by 26.8% YoY during the same period.
  • The company's operating profit increased by 2.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.0% in 2QFY19 as against 14.5% in 2QFY18.
  • Depreciation charges increased by 12.2% and finance costs decreased by 45.5% YoY, respectively.
  • Other income increased by 19.6% YoY during the quarter.
  • Net profit for the quarter increased by 4.4% YoY. Net profit margins during the quarter declined from 9.5% in 2QFY18 to 8.0% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 15.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 15.6% QoQ during the same period.
  • The company's operating profit declined by 15.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.0% in 2QFY19 as against 12.0% in 1QFY18.
  • Net profit for the quarter declined by 15.1% QoQ, while net profit margins increased from 8.0% in 1QFY18 to 8.0% in 2QFY19.

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

HAVELLS IND Share Price Performance

Over the last one year, HAVELLS IND share price has moved up from Rs 547.4 to Rs 595.8, registering a Gain of Rs 48.5 or around 8.9%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 18,302.4 (down 0.4%). Over the last one year it has moved up from 18,253.7 to 18,302.4, a gain of 49 points (up 0.3%).

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 595.8, the price to earnings (P/E) ratio of HAVELLS IND stands at 46.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 10.0 times.

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