HAWKINS COOKERS Announces Quarterly Results (4QFY20); Net Profit Down 30.5%

Wed, 27 May

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

HAWKINS COOKERS Quarterly Financials

No. of Mths Qtr. Ending		3 Mar-19*	3 Dec-19*	3 Mar-20*	QoQ Change	YoY Change
Net Sales	Rs m	1,847	1,933	1,460	-24.5%	-21.0%
Other income	Rs m	7	9	8	-19.1%	13.9%
Turnover	Rs m	1,854	1,942	1,467	-24.4%	-20.9%
Expenses	Rs m	1,627	1,618	1,314	-18.8%	-19.2%
Gross profit	Rs m	220	315	146	-53.7%	-33.8%
Depreciation	Rs m	11	12	13	11.2%	26.0%
Interest	Rs m	12	9	10	12.8%	-13.2%
Profit before tax	Rs m	204	303	130	-57.2%	-36.5%
Tax	Rs m	70	78	36	-53.9%	-48.1%
Profit after tax	Rs m	135	225	94	-58.3%	-30.5%
Gross profit margin	%	11.9	16.3	10.0
Effective tax rate	%	34.0	25.8	27.8
Net profit margin	%	7.3	11.6	6.4

Year-on-Year Performance:

• The company's operating income during the quarter fell 21.0% on a year-on-year (YoY) basis. The expenses were down by 19.2% YoY during the same period.
• The company's operating profit declined by 33.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.0% in 4QFY20 as against 11.9% in 4QFY19.
• Depreciation charges increased by 26.0% and finance costs declined by 13.2% YoY, respectively.
• Other income increased by 13.9% YoY during the quarter.
• Net profit for the quarter declined by 30.5% YoY. Net profit margins during the quarter declined from 7.3% in 4QFY19 to 6.4% in 4QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 24.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 18.8% QoQ during the same period.
• The company's operating profit declined by 53.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.0% in 4QFY20 as against 16.3% in 3QFY19.
• Net profit for the quarter declined by 58.3% QoQ, while net profit margins declined from 11.6% in 3QFY19 to 6.4% in 4QFY20.

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 2,982.0 to Rs 4,144.9, registering a Gain of Rs 1,163.0 or around 39.0%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 18,647.2 (down 0.1%). Over the last one year it has moved down from 24,626.8 to 18,647.2, a loss of 5,980 points (down 24.3%).

Overall, the S&P BSE SENSEX is down 22.2% over the year.

Current Valuations

At the current price of Rs 4,144.9, the price to earnings (P/E) ratio of HAWKINS COOKERS stands at 30.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 18.5 times.