JINDAL STAINLESS Announces Quarterly Results (4QFY19); Net Profit Down 71.9%

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JINDAL STAINLESS Announces Quarterly Results (4QFY19); Net Profit Down 71.9%
Mon, 27 May

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

JINDAL STAINLESS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m31,72731,34732,5133.7%2.5%
Other incomeRs m107598850.8%-17.7%
TurnoverRs m31,83431,40632,6013.8%2.4%
ExpensesRs m27,84329,07229,4901.4%5.9%
Gross profitRs m3,5573,0303,014-0.5%-15.3%
DepreciationRs m7518639257.1%23.1%
InterestRs m1,2431,4671,6119.8%29.6%
Profit before taxRs m1,670758567-25.2%-66.1%
TaxRs m5232342444.2%-53.3%
Profit after taxRs m1,147524323-38.3%-71.9%
Gross profit margin%11.29.79.3
Effective tax rate%31.330.943.1
Net profit margin%3.61.71.0
* 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 2.5% on a year-on-year (YoY) basis. The expenses were up by 5.9% YoY during the same period.
  • The company's operating profit declined by 15.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.3% in 4QFY19 as against 11.2% in 4QFY18.
  • Depreciation charges increased by 23.1% and finance costs increased by 29.6% YoY, respectively.
  • Other income declined by 17.7% YoY during the quarter.
  • Net profit for the quarter declined by 71.9% YoY. Net profit margins during the quarter declined from 3.6% in 4QFY18 to 1.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.4% QoQ during the same period.
  • The company's operating profit declined by 0.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.3% in 4QFY19 as against 9.7% in 3QFY18.
  • Net profit for the quarter declined by 38.3% QoQ, while net profit margins declined from 1.7% in 3QFY18 to 1.0% in 4QFY19.

To see how JINDAL STAINLESS has performed over the last eight quarters, please visit here.

JINDAL STAINLESS Share Price Performance

Over the last one year, JINDAL STAINLESS share price has moved up from Rs 80.1 to Rs 38.4, registering a Loss of Rs 41.7 or around 52.1%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 10,882.3 (up 0.9%). Over the last one year it has moved down from 13,498.3 to 10,882.3, a gain of 2,616 points (down 19.4%).

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

Current Valuations

At the current price of Rs 38.4, the price to earnings (P/E) ratio of JINDAL STAINLESS stands at 6.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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