HAVELLS IND Announces Quarterly Results (2QFY21); Net Profit Up 79.1%

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HAVELLS IND Announces Quarterly Results (2QFY21); Net Profit Up 79.1%
Wed, 4 Nov

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

HAVELLS IND Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m22,30314,79124,51865.8%9.9%
Other incomeRs m292322792146.0%171.1%
TurnoverRs m22,59615,11325,31067.5%12.0%
ExpensesRs m19,96313,48320,31150.6%1.7%
Gross profitRs m2,3411,3094,207221.5%79.7%
DepreciationRs m531604591-2.2%11.3%
InterestRs m511671733.3%236.0%
Profit before taxRs m2,0518604,236392.8%106.5%
TaxRs m237226987336.3%316.4%
Profit after taxRs m1,8146333,249412.9%79.1%
Gross profit margin%10.58.817.2
Effective tax rate%11.626.323.3
Net profit margin%8.04.212.8
* 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 9.9% on a year-on-year (YoY) basis. The expenses were up by 1.7% YoY during the same period.
  • The company's operating profit increased by 79.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.2% in 2QFY21 as against 10.5% in 2QFY20.
  • Depreciation charges increased by 11.3% and finance costs increased by 236.0% YoY, respectively.
  • Other income increased by 171.1% YoY during the quarter.
  • Net profit for the quarter increased by 79.1% YoY. Net profit margins during the quarter increased from 8.0% in 2QFY20 to 12.8% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 65.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 50.6% QoQ during the same period.
  • The company's operating profit increased by 221.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.2% in 2QFY21 as against 8.8% in 1QFY20.
  • Net profit for the quarter increased by 412.9% QoQ, while net profit margins increased from 4.2% in 1QFY20 to 12.8% in 2QFY21.

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

Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term

HAVELLS IND Share Price Performance

Over the last one year, HAVELLS IND share price has moved up from Rs 693.9 to Rs 796.9, registering a Gain of Rs 103.0 or around 14.8%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 24,496.7 (up 0.8%). Over the last one year it has moved down from 26,465.7 to 24,496.7, a gain of 1,969 points (down 7.4%).

Overall, the S&P BSE SENSEX is up 0.3% over the year.

Current Valuations

At the current price of Rs 796.9, the price to earnings (P/E) ratio of HAVELLS IND stands at 65.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 11.8 times.

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