HAVELLS IND Announces Quarterly Results (3QFY19); Net Profit Up 0.7%

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HAVELLS IND Announces Quarterly Results (3QFY19); Net Profit Up 0.7%
Thu, 24 Jan

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

HAVELLS IND Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m19,65821,91025,18414.9%28.1%
Other incomeRs m278343331-3.7%19.1%
TurnoverRs m19,93522,25325,51514.7%28.0%
ExpensesRs m17,03619,28522,23915.3%30.5%
Gross profitRs m2,8322,6252,94612.2%4.0%
DepreciationRs m363391353-9.8%-2.7%
InterestRs m553736-2.7%-35.2%
Profit before taxRs m2,6922,5402,88813.7%7.3%
TaxRs m74875493123.4%24.5%
Profit after taxRs m1,9441,7861,9579.5%0.7%
Gross profit margin%14.412.011.7
Effective tax rate%27.829.732.2
Net profit margin%9.78.07.7
* 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 28.1% on a year-on-year (YoY) basis. The expenses were up by 30.5% YoY during the same period.
  • The company's operating profit increased by 4.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.7% in 3QFY19 as against 14.4% in 3QFY18.
  • Depreciation charges declined by 2.7% and finance costs declined by 35.2% YoY, respectively.
  • Other income increased by 19.1% YoY during the quarter.
  • Net profit for the quarter increased by 0.7% YoY. Net profit margins during the quarter declined from 9.7% in 3QFY18 to 7.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 14.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 15.3% QoQ during the same period.
  • The company's operating profit declined by 12.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.7% in 3QFY19 as against 12.0% in 2QFY18.
  • Net profit for the quarter increased by 9.5% QoQ, while net profit margins declined from 8.0% in 2QFY18 to 7.7% in 3QFY19.

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 575.6 to Rs 704.8, registering a Gain of Rs 129.3 or around 22.5%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 20,909.7 (up 0.0%). Over the last one year it has moved down from 23,184.1 to 20,909.7, a gain of 2,274 points (down 9.8%).

Overall, the S&P BSE SENSEX is up 0.2% over the year.

Current Valuations

At the current price of Rs 704.8, the price to earnings (P/E) ratio of HAVELLS IND stands at 54.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 11.8 times.

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For the quarter ended December 2019, HAVELLS IND has posted a net profit of Rs 2 bn (up 2.4% YoY). Sales on the other hand came in at Rs 23 bn (down 9.9% YoY). Read on for a complete analysis of HAVELLS IND's quarterly results.

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