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HAWKINS COOKERS Announces Quarterly Results (3QFY21); Net Profit Up 7.8%

Fri, 5 Feb

HAWKINS COOKERS has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

HAWKINS COOKERS Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-19*	3 Sep-20*	3 Dec-20*	QoQ Change	YoY Change
Net Sales	Rs m	1,933	1,932	2,311	19.6%	19.6%
Other income	Rs m	9	18	26	48.9%	181.7%
Turnover	Rs m	1,942	1,950	2,337	19.9%	20.3%
Expenses	Rs m	1,618	1,572	1,984	26.3%	22.6%
Gross profit	Rs m	315	360	326	-9.5%	3.7%
Depreciation	Rs m	12	12	14	12.7%	16.0%
Interest	Rs m	9	10	12	25.6%	35.6%
Profit before tax	Rs m	303	356	326	-8.4%	7.7%
Tax	Rs m	78	96	84	-12.6%	7.5%
Profit after tax	Rs m	225	260	242	-6.8%	7.8%
Gross profit margin	%	16.3	18.7	14.1
Effective tax rate	%	25.8	27.0	25.8
Net profit margin	%	11.6	13.3	10.4

Year-on-Year Performance:

• The company's operating income during the quarter grew 19.6% on a year-on-year (YoY) basis. The expenses were up by 22.6% YoY during the same period.
• The company's operating profit increased by 3.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.1% in 3QFY21 as against 16.3% in 3QFY20.
• Depreciation charges increased by 16.0% and finance costs increased by 35.6% YoY, respectively.
• Other income increased by 181.7% YoY during the quarter.
• Net profit for the quarter increased by 7.8% YoY. Net profit margins during the quarter declined from 11.6% in 3QFY20 to 10.4% in 3QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 19.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 26.3% QoQ during the same period.
• The company's operating profit declined by 9.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.1% in 3QFY21 as against 18.7% in 2QFY20.
• Net profit for the quarter declined by 6.8% QoQ, while net profit margins declined from 13.3% in 2QFY20 to 10.4% in 3QFY21.

To see how HAWKINS COOKERS has performed over the last eight quarters,please visit here.

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HAWKINS COOKERS Share Price Performance

Over the last one year, HAWKINS COOKERS share price has moved up from Rs 4,620.9 to Rs 5,660.0, registering a Gain of Rs 1,039.2 or around 22.5%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 31,798.5 (up 0.2%). Over the last one year it has moved up from 27,032.6 to 31,798.5, a gain of 4,766 points (up 17.6%).

Overall, the S&P BSE SENSEX is up 27.3% over the year.

Current Valuations

At the current price of Rs 5,660.0, the price to earnings (P/E) ratio of HAWKINS COOKERS stands at 45.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 25.2 times.