JAIN IRRIGATION Announces Quarterly Results (4QFY19); Net Profit Down 39.2%

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JAIN IRRIGATION Announces Quarterly Results (4QFY19); Net Profit Down 39.2%
Mon, 3 Jun

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

JAIN IRRIGATION Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m27,77720,37725,83126.8%-7.0%
Other incomeRs m-92917646-29.6%
TurnoverRs m27,68621,29426,47624.3%-4.4%
ExpensesRs m23,77518,15523,34228.6%-1.8%
Gross profitRs m4,0022,2222,48912.0%-37.8%
DepreciationRs m870758720-5.1%-17.3%
InterestRs m1,3261,3361,129-15.5%-14.9%
Profit before taxRs m1,7151,0451,28623.1%-25.0%
TaxRs m803133731448.1%-8.9%
Profit after taxRs m912911555-39.1%-39.2%
Gross profit margin%14.410.99.6
Effective tax rate%46.812.856.9
Net profit margin%3.34.32.1
* 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 fell 7.0% on a year-on-year (YoY) basis. The expenses were down by 1.8% YoY during the same period.
  • The company's operating profit declined by 37.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.6% in 4QFY19 as against 14.4% in 4QFY18.
  • Depreciation charges declined by 17.3% and finance costs declined by 14.9% YoY, respectively.
  • Other income declined by 805.5% YoY during the quarter.
  • Net profit for the quarter declined by 39.2% YoY. Net profit margins during the quarter declined from 3.3% in 4QFY18 to 2.1% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 26.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 28.6% QoQ during the same period.
  • The company's operating profit declined by 12.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.6% in 4QFY19 as against 10.9% in 3QFY18.
  • Net profit for the quarter declined by 39.1% QoQ, while net profit margins declined from 4.3% in 3QFY18 to 2.1% in 4QFY19.

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 102.9 to Rs 49.2, registering a Loss of Rs 53.7 or around 52.2%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 19,936.3 (down 0.0%). Over the last one year it has moved up from 18,694.9 to 19,936.3, a gain of 1,241 points (up 6.6%).

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 49.2, the price to earnings (P/E) ratio of JAIN IRRIGATION stands at 8.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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