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HAVELLS IND Announces Quarterly Results (4QFY19); Net Profit Down 8.4%

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HAVELLS IND Announces Quarterly Results (4QFY19); Net Profit Down 8.4%
Mon, 3 Jun

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

HAVELLS IND Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m25,34925,18427,5199.3%8.6%
Other incomeRs m257331310-6.4%20.2%
TurnoverRs m25,60625,51527,8289.1%8.7%
ExpensesRs m21,77222,23924,2909.2%11.6%
Gross profitRs m3,4872,9463,2299.6%-7.4%
DepreciationRs m34735339110.6%12.5%
InterestRs m84366172.5%-26.6%
Profit before taxRs m3,3132,8883,0866.9%-6.9%
TaxRs m1,0559311,0189.3%-3.6%
Profit after taxRs m2,2581,9572,0685.7%-8.4%
Gross profit margin%13.811.711.7
Effective tax rate%31.932.233.0
Net profit margin%8.87.77.4
* 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 8.6% on a year-on-year (YoY) basis. The expenses were up by 11.6% YoY during the same period.
  • The company's operating profit declined by 7.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.7% in 4QFY19 as against 13.8% in 4QFY18.
  • Depreciation charges increased by 12.5% and finance costs declined by 26.6% YoY, respectively.
  • Other income increased by 20.2% YoY during the quarter.
  • Net profit for the quarter declined by 8.4% YoY. Net profit margins during the quarter declined from 8.8% in 4QFY18 to 7.4% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 9.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 9.2% QoQ during the same period.
  • The company's operating profit increased by 9.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.7% in 4QFY19 as against 11.7% in 3QFY18.
  • Net profit for the quarter increased by 5.7% QoQ, while net profit margins declined from 7.7% in 3QFY18 to 7.4% in 4QFY19.

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 539.4 to Rs 757.0, registering a Gain of Rs 217.6 or around 40.3%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 24,979.3 (up 1.1%). Over the last one year it has moved up from 20,574.5 to 24,979.3, a gain of 4,405 points (up 21.4%).

Overall, the S&P BSE SENSEX is up 13.3% over the year.

Current Valuations

At the current price of Rs 757.0, the price to earnings (P/E) ratio of HAVELLS IND stands at 59.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 12.7 times.

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