HERITAGE FOOD Announces Quarterly Results (2QFY20); Net Profit Down 48.4%

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HERITAGE FOOD Announces Quarterly Results (2QFY20); Net Profit Down 48.4%
Wed, 6 Nov

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

HERITAGE FOOD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m6,1947,2126,796-5.8%9.7%
Other incomeRs m183881,432268.7%7841.8%
TurnoverRs m6,2127,6018,2288.2%32.5%
ExpensesRs m7,1717,1137,97512.1%11.2%
Gross profitRs m485100-1,180-1284.9%-343.1%
DepreciationRs m1121261293.0%15.4%
InterestRs m465552-5.6%14.1%
Profit before taxRs m34530771-77.0%-79.6%
TaxRs m134117-38-132.7%-128.6%
Profit after taxRs m211190109-42.6%-48.4%
Gross profit margin%7.81.4-17.4
Effective tax rate%38.838.2-54.2
Net profit margin%3.42.51.3
* 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 9.7% on a year-on-year (YoY) basis. The expenses were up by 11.2% YoY during the same period.
  • The company's operating profit declined by 343.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.4% in 2QFY20 as against 7.8% in 2QFY19.
  • Depreciation charges increased by 15.4% and finance costs increased by 14.1% YoY, respectively.
  • Other income increased by 7841.8% YoY during the quarter.
  • Net profit for the quarter declined by 48.4% YoY. Net profit margins during the quarter declined from 3.4% in 2QFY19 to 1.3% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.1% QoQ during the same period.
  • The company's operating profit declined by 1284.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.4% in 2QFY20 as against 1.4% in 1QFY19.
  • Net profit for the quarter declined by 42.6% QoQ, while net profit margins declined from 2.5% in 1QFY19 to 1.3% in 2QFY20.

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

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HERITAGE FOOD Share Price Performance

Over the last one year,HERITAGE FOOD share price has moved down from Rs 532.7 to Rs 340.5, registering a Loss of Rs 192.2 or around 36.1%.

Overall, the S&P BSE SENSEX is up 14.7% over the year.

Current Valuations

At the current price of Rs 340.5, the price to earnings (P/E) ratio of HERITAGE FOOD stands at 22.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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