HAVELLS IND Announces Quarterly Results (3QFY20); Net Profit Up 2.4%

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HAVELLS IND Announces Quarterly Results (3QFY20); Net Profit Up 2.4%
Wed, 22 Jan

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

HAVELLS IND Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m25,18422,30322,6991.8%-9.9%
Other incomeRs m331292240-17.9%-27.4%
TurnoverRs m25,51522,59622,9391.5%-10.1%
ExpensesRs m22,23919,96320,0250.3%-10.0%
Gross profitRs m2,9462,3412,67314.2%-9.2%
DepreciationRs m3535315523.9%56.3%
InterestRs m3651532.3%47.8%
Profit before taxRs m2,8882,0512,30912.6%-20.0%
TaxRs m93123730528.8%-67.2%
Profit after taxRs m1,9571,8142,00410.5%2.4%
Gross profit margin%11.710.511.8
Effective tax rate%32.211.613.2
Net profit margin%7.78.08.7
* 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 fell 9.9% on a year-on-year (YoY) basis. The expenses were down by 10.0% YoY during the same period.
  • The company's operating profit declined by 9.2% YoY during the quarter. Consequently, operating profit margins remained same and stood at 11.8% in 3QFY20.
  • Depreciation charges increased by 56.3% and finance costs increased by 47.8% YoY, respectively.
  • Other income declined by 27.4% YoY during the quarter.
  • Net profit for the quarter increased by 2.4% YoY. Net profit margins during the quarter increased from 7.7% in 3QFY19 to 8.7% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.3% QoQ during the same period.
  • The company's operating profit increased by 14.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.8% in 3QFY20 as against 10.5% in 2QFY19.
  • Net profit for the quarter increased by 10.5% QoQ, while net profit margins increased from 8.0% in 2QFY19 to 8.7% in 3QFY20.

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 down from Rs 711.4 to Rs 615.2, registering a Loss of Rs 96.3 or around 13.5%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 25,689.9 (up 0.1%). Over the last one year it has moved up from 21,151.6 to 25,689.9, a gain of 4,538 points (up 21.5%).

Overall, the S&P BSE SENSEX is up 12.8% over the year.

Current Valuations

At the current price of Rs 615.2, the price to earnings (P/E) ratio of HAVELLS IND stands at 50.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.1 times.

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For the quarter ended December 2020, HAVELLS INDIA has posted a net profit of Rs 3 bn (up 74.2% YoY). Sales on the other hand came in at Rs 32 bn (up 39.5% YoY). Read on for a complete analysis of HAVELLS INDIA's quarterly results.

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