KIRLOSKAR BROS. Announces Quarterly Results (2QFY20); Net Profit Down 53.0%

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KIRLOSKAR BROS. Announces Quarterly Results (2QFY20); Net Profit Down 53.0%
Mon, 11 Nov

KIRLOSKAR BROS. has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

KIRLOSKAR BROS. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m4,8824,7274,8232.0%-1.2%
Other incomeRs m12231131322.6%7.4%
TurnoverRs m5,0044,7584,9544.1%-1.0%
ExpensesRs m4,5824,5284,522-0.1%-1.3%
Gross profitRs m30019930151.3%0.3%
DepreciationRs m8910298-3.9%10.1%
InterestRs m67608440.0%25.4%
Profit before taxRs m26668250267.6%-6.0%
TaxRs m6641563800.0%136.4%
Profit after taxRs m200649446.9%-53.0%
Gross profit margin%6.14.26.2
Effective tax rate%24.85.962.4
Net profit margin%4.01.31.9
* 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 fell 1.2% on a year-on-year (YoY) basis. The expenses were down by 1.3% YoY during the same period.
  • The company's operating profit increased by 0.3% YoY during the quarter. Consequently, operating profit margins remained same and stood at 6.2% in 2QFY20.
  • Depreciation charges increased by 10.1% and finance costs increased by 25.4% YoY, respectively.
  • Other income increased by 7.4% YoY during the quarter.
  • Net profit for the quarter declined by 53.0% YoY. Net profit margins during the quarter declined from 4.0% in 2QFY19 to 1.9% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.1% QoQ during the same period.
  • The company's operating profit increased by 51.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 6.2% in 2QFY20 as against 4.2% in 1QFY19.
  • Net profit for the quarter increased by 46.9% QoQ, while net profit margins increased from 1.3% in 1QFY19 to 1.9% in 2QFY20.

To see how KIRLOSKAR BROS. has performed over the last eight quarters,please visit here.

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KIRLOSKAR BROS. Share Price Performance

Over the last one year,KIRLOSKAR BROS. share price has moved down from Rs 186.5 to Rs 146.7, registering a Loss of Rs 39.8 or around 21.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,220.8 (down 0.6%). Over the last one year it has moved down from 18,246.3 to 18,220.8, a gain of 25 points (down 0.1%).

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 146.7, the price to earnings (P/E) ratio of KIRLOSKAR BROS. stands at 17.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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