JAIN IRRIGATION Announces Quarterly Results (3QFY19); Net Profit Up 36.5%

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JAIN IRRIGATION Announces Quarterly Results (3QFY19); Net Profit Up 36.5%
Tue, 19 Feb

JAIN IRRIGATION has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

JAIN IRRIGATION Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m18,89618,95120,3777.5%7.8%
Other incomeRs m382234917292.0%139.9%
TurnoverRs m19,27919,18521,29411.0%10.5%
ExpensesRs m16,67516,80018,1558.1%8.9%
Gross profitRs m2,2222,1822,2221.8%0.0%
DepreciationRs m841785758-3.4%-9.9%
InterestRs m1,1801,3211,3361.2%13.2%
Profit before taxRs m5833111,045236.3%79.3%
TaxRs m-859613338.4%
Profit after taxRs m668214911325.4%36.5%
Gross profit margin%11.811.510.9
Effective tax rate%-14.631.012.8
Net profit margin%3.51.14.3
* 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 7.8% on a year-on-year (YoY) basis. The expenses were up by 8.9% YoY during the same period.
  • The company's operating profit increased by 0.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.9% in 3QFY19 as against 11.8% in 3QFY18.
  • Depreciation charges declined by 9.9% and finance costs increased by 13.2% YoY, respectively.
  • Other income increased by 139.9% YoY during the quarter.
  • Net profit for the quarter increased by 36.5% YoY. Net profit margins during the quarter increased from 3.5% in 3QFY18 to 4.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.1% QoQ during the same period.
  • The company's operating profit declined by 1.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.9% in 3QFY19 as against 11.5% in 2QFY18.
  • Net profit for the quarter increased by 325.4% QoQ, while net profit margins increased from 1.1% in 2QFY18 to 4.3% in 3QFY19.

To see how JAIN IRRIGATION has performed over the last eight quarters, please visit here.

JAIN IRRIGATION Share Price Performance

Over the last one year, JAIN IRRIGATION share price has moved up from Rs 117.6 to Rs 54.0, registering a Loss of Rs 63.6 or around 54.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,449.8 (up 0.8%). Over the last one year it has moved down from 18,900.9 to 16,449.8, a gain of 2,451 points (down 13.0%).

Overall, the S&P BSE SENSEX is up 5.5% over the year.

Current Valuations

At the current price of Rs 54.0, the price to earnings (P/E) ratio of JAIN IRRIGATION stands at 8.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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