HERITAGE FOOD Announces Quarterly Results (1QFY20); Net Profit Down 11.6%

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HERITAGE FOOD Announces Quarterly Results (1QFY20); Net Profit Down 11.6%
Fri, 2 Aug

HERITAGE FOOD has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

HERITAGE FOOD Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m6,7026,3507,21213.6%7.6%
Other incomeRs m19714388-45.6%1927.2%
TurnoverRs m6,7217,0647,6017.6%13.1%
ExpensesRs m6,2426,5777,1138.2%14.0%
Gross profitRs m460-226100-78.3%
DepreciationRs m10711312610.9%17.4%
InterestRs m566355-12.1%-0.8%
Profit before taxRs m316311307-1.4%-2.9%
TaxRs m1011081178.3%15.7%
Profit after taxRs m215203190-6.5%-11.6%
Gross profit margin%6.9-3.61.4
Effective tax rate%32.034.838.2
Net profit margin%3.22.92.5
* 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 7.6% on a year-on-year (YoY) basis. The expenses were up by 14.0% YoY during the same period.
  • The company's operating profit declined by 78.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.4% in 1QFY20 as against 6.9% in 1QFY19.
  • Depreciation charges increased by 17.4% and finance costs declined by 0.8% YoY, respectively.
  • Other income increased by 1927.2% YoY during the quarter.
  • Net profit for the quarter declined by 11.6% YoY. Net profit margins during the quarter declined from 3.2% in 1QFY19 to 2.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 13.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.2% QoQ during the same period.
  • The company's operating profit increased by 144.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 1.4% in 1QFY20 as against 3.6% in 4QFY19.
  • Net profit for the quarter declined by 6.5% QoQ, while net profit margins declined from 2.9% in 4QFY19 to 2.5% in 1QFY20.

To see how HERITAGE FOOD has performed over the last eight quarters,please visit here.

HERITAGE FOOD Share Price Performance

Over the last one year,HERITAGE FOOD share price has moved down from Rs 614.4 to Rs 342.9, registering a Loss of Rs 271.5 or around 44.2%.

Overall, the S&P BSE SENSEX is down 2.3% over the year.

Current Valuations

At the current price of Rs 342.9, the price to earnings (P/E) ratio of HERITAGE FOOD stands at 19.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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