KIRLOSKAR BROS. Announces Quarterly Results (4QFY19); Net Profit Up 11.7%

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KIRLOSKAR BROS. Announces Quarterly Results (4QFY19); Net Profit Up 11.7%
Tue, 21 May

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

KIRLOSKAR BROS. Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m6,1485,1807,61246.9%23.8%
Other incomeRs m56-387-87.5%
TurnoverRs m6,2045,1427,61948.2%22.8%
ExpensesRs m5,5474,8106,88643.2%24.1%
Gross profitRs m60137072696.2%20.8%
DepreciationRs m8693963.2%11.6%
InterestRs m7173786.8%9.9%
Profit before taxRs m500166559236.7%11.8%
TaxRs m17537196429.7%12.0%
Profit after taxRs m325129363181.4%11.7%
Gross profit margin%9.87.19.5
Effective tax rate%35.022.335.1
Net profit margin%5.22.54.8
* 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 23.8% on a year-on-year (YoY) basis. The expenses were up by 24.1% YoY during the same period.
  • The company's operating profit increased by 20.8% YoY during the quarter. Consequently, operating profit margins remained same and stood at 9.5% in 4QFY19.
  • Depreciation charges increased by 11.6% and finance costs increased by 9.9% YoY, respectively.
  • Other income declined by 87.5% YoY during the quarter.
  • Net profit for the quarter increased by 11.7% YoY. Net profit margins during the quarter declined from 5.2% in 4QFY18 to 4.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 46.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 43.2% QoQ during the same period.
  • The company's operating profit increased by 96.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.5% in 4QFY19 as against 7.1% in 3QFY18.
  • Net profit for the quarter increased by 181.4% QoQ, while net profit margins increased from 2.5% in 3QFY18 to 4.8% in 4QFY19.

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

KIRLOSKAR BROS. Share Price Performance

Over the last one year, KIRLOSKAR BROS. share price has moved up from Rs 265.8 to Rs 168.5, registering a Loss of Rs 97.4 or around 36.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,639.2 (down 0.5%). Over the last one year it has moved up from 18,293.4 to 18,639.2, a gain of 346 points (up 1.9%).

Overall, the S&P BSE SENSEX is up 13.9% over the year.

Current Valuations

At the current price of Rs 168.5, the price to earnings (P/E) ratio of KIRLOSKAR BROS. stands at 15.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.4 times.

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