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KOTHARI PRODUCTS Announces Quarterly Results (3QFY19); Net Profit Down 120.7%

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KOTHARI PRODUCTS Announces Quarterly Results (3QFY19); Net Profit Down 120.7%
Fri, 15 Feb

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

KOTHARI PRODUCTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m10,5829,7647,704-21.1%-27.2%
Other incomeRs m104-1470-32.9%
TurnoverRs m10,6869,7497,774-20.3%-27.3%
ExpensesRs m10,4139,7257,785-19.9%-25.2%
Gross profitRs m16939-81-310.4%-148.0%
DepreciationRs m566-1.7%11.8%
InterestRs m3111252-53.3%66.9%
Profit before taxRs m237-94-70-129.4%
TaxRs m82-45-38-145.8%
Profit after taxRs m155-49-32-120.7%
Gross profit margin%1.60.4-1.1
Effective tax rate%34.648.253.9
Net profit margin%1.4-0.5-0.4
* 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 27.2% on a year-on-year (YoY) basis. The expenses were down by 25.2% YoY during the same period.
  • The company's operating profit declined by 148.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.1% in 3QFY19 as against 1.6% in 3QFY18.
  • Depreciation charges increased by 11.8% and finance costs increased by 66.9% YoY, respectively.
  • Other income declined by 32.9% YoY during the quarter.
  • Net profit for the quarter declined by 120.7% YoY. Net profit margins during the quarter declined from 1.4% in 3QFY18 to -0.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 21.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 19.9% QoQ during the same period.
  • The company's operating profit declined by 310.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.1% in 3QFY19 as against 0.4% in 2QFY18.
  • Net profit for the quarter increased by 33.8% QoQ, while net profit margins increased from -0.5% in 2QFY18 to -0.4% in 3QFY19.

To see how KOTHARI PRODUCTS has performed over the last eight quarters, please visit here.

KOTHARI PRODUCTS Share Price Performance

Over the last one year, KOTHARI PRODUCTS share price has moved up from Rs 201.6 to Rs 81.2, registering a Loss of Rs 120.4 or around 59.7%.

Overall, the S&P BSE SENSEX is up 4.3% over the year.

Current Valuations

At the current price of Rs 81.2, the price to earnings (P/E) ratio of KOTHARI PRODUCTS stands at 84.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.

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