HERITAGE FOOD Announces Quarterly Results (3QFY20); Net Profit Down 41.3%

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HERITAGE FOOD Announces Quarterly Results (3QFY20); Net Profit Down 41.3%
Fri, 31 Jan

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

HERITAGE FOOD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m6,1886,7966,724-1.1%8.7%
Other incomeRs m5531,432553-61.4%0.1%
TurnoverRs m6,7408,2287,278-11.5%8.0%
ExpensesRs m6,2697,9756,931-13.1%10.6%
Gross profitRs m-82-1,180-207
DepreciationRs m114129128-0.7%12.6%
InterestRs m5052543.0%8.0%
Profit before taxRs m30771164132.8%-46.5%
TaxRs m103-3845-56.6%
Profit after taxRs m2041091199.7%-41.3%
Gross profit margin%-1.3-17.4-3.1
Effective tax rate%33.7-54.227.3
Net profit margin%3.01.31.6
* 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 8.7% on a year-on-year (YoY) basis. The expenses were up by 10.6% YoY during the same period.
  • The company's operating profit increased by 153.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.1% in 3QFY20 as against 1.3% in 3QFY19.
  • Depreciation charges increased by 12.6% and finance costs increased by 8.0% YoY, respectively.
  • Other income increased by 0.1% YoY during the quarter.
  • Net profit for the quarter declined by 41.3% YoY. Net profit margins during the quarter declined from 3.0% in 3QFY19 to 1.6% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 13.1% QoQ during the same period.
  • The company's operating profit declined by 82.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 3.1% in 3QFY20 as against 17.4% in 2QFY19.
  • Net profit for the quarter increased by 9.7% QoQ, while net profit margins increased from 1.3% in 2QFY19 to 1.6% in 3QFY20.

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 491.7 to Rs 355.5, registering a Loss of Rs 136.2 or around 27.7%.

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

Current Valuations

At the current price of Rs 355.5, the price to earnings (P/E) ratio of HERITAGE FOOD stands at 26.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.

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