HERITAGE FOOD Announces Quarterly Results (4QFY19); Net Profit Up 1.7%

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HERITAGE FOOD Announces Quarterly Results (4QFY19); Net Profit Up 1.7%
Fri, 24 May

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

HERITAGE FOOD Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m6,1086,1886,3502.6%4.0%
Other incomeRs m3355371429.2%2044.7%
TurnoverRs m6,1416,7407,0644.8%15.0%
ExpensesRs m5,6656,2696,5774.9%16.1%
Gross profitRs m443-82-226-151.0%
DepreciationRs m103114113-0.7%9.8%
InterestRs m56506326.3%13.7%
Profit before taxRs m3183073111.3%-2.2%
TaxRs m1181031084.6%-8.7%
Profit after taxRs m200204203-0.3%1.7%
Gross profit margin%7.3-1.3-3.6
Effective tax rate%37.333.734.8
Net profit margin%3.23.02.9
* 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 4.0% on a year-on-year (YoY) basis. The expenses were up by 16.1% YoY during the same period.
  • The company's operating profit declined by 151.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.6% in 4QFY19 as against 7.3% in 4QFY18.
  • Depreciation charges increased by 9.8% and finance costs increased by 13.7% YoY, respectively.
  • Other income increased by 2044.7% YoY during the quarter.
  • Net profit for the quarter increased by 1.7% YoY. Net profit margins during the quarter declined from 3.2% in 4QFY18 to 2.9% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.9% QoQ during the same period.
  • The company's operating profit declined by 177.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.6% in 4QFY19 as against 1.3% in 3QFY18.
  • Net profit for the quarter declined by 0.3% QoQ, while net profit margins declined from 3.0% in 3QFY18 to 2.9% in 4QFY19.

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 up from Rs 677.6 to Rs 456.0, registering a Loss of Rs 221.6 or around 32.7%.

Overall, the S&P BSE SENSEX is up 13.3% over the year.

Current Valuations

At the current price of Rs 456.0, the price to earnings (P/E) ratio of HERITAGE FOOD stands at 25.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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