AGRO TECH FOODS Announces Quarterly Results (3QFY20); Net Profit Down 24.8%

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AGRO TECH FOODS Announces Quarterly Results (3QFY20); Net Profit Down 24.8%
Mon, 27 Jan

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

AGRO TECH FOODS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m2,1542,0462,28711.8%6.2%
Other incomeRs m13117-34.5%-43.9%
TurnoverRs m2,1672,0572,29511.6%5.9%
ExpensesRs m1,9741,8602,14215.2%8.5%
Gross profitRs m180186146-21.7%-19.2%
DepreciationRs m4049490.4%21.1%
InterestRs m054-2.2%1366.7%
Profit before taxRs m153144100-30.8%-34.6%
TaxRs m53-1025-53.2%
Profit after taxRs m10015475-51.3%-24.8%
Gross profit margin%8.49.16.4
Effective tax rate%34.7-6.924.8
Net profit margin%4.67.53.3
* 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 6.2% on a year-on-year (YoY) basis. The expenses were up by 8.5% YoY during the same period.
  • The company's operating profit declined by 19.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.4% in 3QFY20 as against 8.4% in 3QFY19.
  • Depreciation charges increased by 21.1% and finance costs increased by 1366.7% YoY, respectively.
  • Other income declined by 43.9% YoY during the quarter.
  • Net profit for the quarter declined by 24.8% YoY. Net profit margins during the quarter declined from 4.6% in 3QFY19 to 3.3% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 11.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 15.2% QoQ during the same period.
  • The company's operating profit declined by 21.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.4% in 3QFY20 as against 9.1% in 2QFY19.
  • Net profit for the quarter declined by 51.3% QoQ, while net profit margins declined from 7.5% in 2QFY19 to 3.3% in 3QFY20.

To see how AGRO TECH FOODS has performed over the last eight quarters,please visit here.

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AGRO TECH FOODS Share Price Performance

Over the last one year,AGRO TECH FOODS share price has moved up from Rs 579.2 to Rs 698.7, registering a Gain of Rs 119.5 or around 20.6%.

Overall, the S&P BSE SENSEX is up 14.2% over the year.

Current Valuations

At the current price of Rs 698.7, the price to earnings (P/E) ratio of AGRO TECH FOODS stands at 44.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.0 times.

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