HAVELLS IND Announces Quarterly Results (2QFY20); Net Profit Up 1.5%

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HAVELLS IND Announces Quarterly Results (2QFY20); Net Profit Up 1.5%
Fri, 1 Nov

HAVELLS IND has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

HAVELLS IND Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m21,91027,12022,303-17.8%1.8%
Other incomeRs m343397292-26.4%-14.8%
TurnoverRs m22,25327,51722,596-17.9%1.5%
ExpensesRs m19,28524,36319,963-18.1%3.5%
Gross profitRs m2,6252,7572,341-15.1%-10.8%
DepreciationRs m39146953113.2%35.7%
InterestRs m3747518.9%40.4%
Profit before taxRs m2,5402,6372,051-22.2%-19.3%
TaxRs m754898237-73.6%-68.6%
Profit after taxRs m1,7861,7391,8144.3%1.5%
Gross profit margin%12.010.210.5
Effective tax rate%29.734.111.6
Net profit margin%8.06.38.0
* 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 1.8% on a year-on-year (YoY) basis. The expenses were up by 3.5% YoY during the same period.
  • The company's operating profit declined by 10.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.5% in 2QFY20 as against 12.0% in 2QFY19.
  • Depreciation charges increased by 35.7% and finance costs increased by 40.4% YoY, respectively.
  • Other income declined by 14.8% YoY during the quarter.
  • Net profit for the quarter increased by 1.5% YoY. Net profit margins during the quarter increased from 8.0% in 2QFY19 to 8.0% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 17.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 18.1% QoQ during the same period.
  • The company's operating profit declined by 15.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.5% in 2QFY20 as against 10.2% in 1QFY19.
  • Net profit for the quarter increased by 4.3% QoQ, while net profit margins increased from 6.3% in 1QFY19 to 8.0% in 2QFY20.

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 644.9 to Rs 692.2, registering a Gain of Rs 47.4 or around 7.3%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 26,831.5 (down 0.2%). Over the last one year it has moved up from 19,340.1 to 26,831.5, a gain of 7,491 points (up 38.7%).

Overall, the S&P BSE SENSEX is up 16.5% over the year.

Current Valuations

At the current price of Rs 692.2, the price to earnings (P/E) ratio of HAVELLS IND stands at 57.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 10.2 times.

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