HAVELLS IND Announces Quarterly Results (4QFY20); Net Profit Down 14.3%

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HAVELLS IND Announces Quarterly Results (4QFY20); Net Profit Down 14.3%
Thu, 14 May

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

HAVELLS IND Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m27,51922,69922,161-2.4%-19.5%
Other incomeRs m310240195-18.6%-36.9%
TurnoverRs m27,82822,93922,357-2.5%-19.7%
ExpensesRs m24,29020,02519,708-1.6%-18.9%
Gross profitRs m3,2292,6732,453-8.2%-24.0%
DepreciationRs m39155262513.2%60.0%
InterestRs m615346-12.5%-25.1%
Profit before taxRs m3,0862,3091,977-14.4%-35.9%
TaxRs m1,018305205-32.7%-79.8%
Profit after taxRs m2,0682,0041,772-11.6%-14.3%
Gross profit margin%11.711.811.1
Effective tax rate%33.013.210.4
Net profit margin%7.48.77.9
* 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 19.5% on a year-on-year (YoY) basis. The expenses were down by 18.9% YoY during the same period.
  • The company's operating profit declined by 24.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.1% in 4QFY20 as against 11.7% in 4QFY19.
  • Depreciation charges increased by 60.0% and finance costs declined by 25.1% YoY, respectively.
  • Other income declined by 36.9% YoY during the quarter.
  • Net profit for the quarter declined by 14.3% YoY. Net profit margins during the quarter increased from 7.4% in 4QFY19 to 7.9% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.6% QoQ during the same period.
  • The company's operating profit declined by 8.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.1% in 4QFY20 as against 11.8% in 3QFY19.
  • Net profit for the quarter declined by 11.6% QoQ, while net profit margins declined from 8.7% in 3QFY19 to 7.9% in 4QFY20.

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 723.0 to Rs 497.6, registering a Loss of Rs 225.4 or around 31.2%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 18,438.1 (down 0.9%). Over the last one year it has moved down from 23,423.2 to 18,438.1, a loss of 4,985 points (down 21.3%).

Overall, the S&P BSE SENSEX is down 15.0% over the year.

Current Valuations

At the current price of Rs 497.6, the price to earnings (P/E) ratio of HAVELLS IND stands at 42.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.4 times.

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