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KAVERI SEED Announces Quarterly Results (2QFY19); Net Profit Down 42.9%

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KAVERI SEED Announces Quarterly Results (2QFY19); Net Profit Down 42.9%
Fri, 16 Nov

KAVERI SEED has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

KAVERI SEED Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m6965,819752-87.1%8.0%
Other incomeRs m164168131-22.4%-20.4%
TurnoverRs m8605,987883-85.3%2.6%
ExpensesRs m5493,784673-82.2%22.7%
Gross profitRs m1472,03579-96.1%-46.6%
DepreciationRs m615347-12.0%-22.4%
InterestRs m10016.7%-68.2%
Profit before taxRs m2502,150162-92.5%-35.2%
TaxRs m414443-2.8%4.0%
Profit after taxRs m2092,106119-94.3%-42.9%
Gross profit margin%21.235.010.5
Effective tax rate%16.42.026.4
Net profit margin%24.335.213.5
* 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 8.0% on a year-on-year (YoY) basis. The expenses were up by 22.7% YoY during the same period.
  • The company's operating profit declined by 46.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.5% in 2QFY19 as against 21.2% in 2QFY18.
  • Depreciation charges declined by 22.4% and finance costs declined by 68.2% YoY, respectively.
  • Other income declined by 20.4% YoY during the quarter.
  • Net profit for the quarter declined by 42.9% YoY. Net profit margins during the quarter declined from 24.3% in 2QFY18 to 13.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 87.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 82.2% QoQ during the same period.
  • The company's operating profit declined by 96.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.5% in 2QFY19 as against 35.0% in 1QFY18.
  • Net profit for the quarter declined by 94.3% QoQ, while net profit margins declined from 35.2% in 1QFY18 to 13.5% in 2QFY19.

To see how KAVERI SEED has performed over the last eight quarters, please visit here.

KAVERI SEED Share Price Performance

Over the last one year, KAVERI SEED share price has moved up from Rs 517.1 to Rs 510.1, registering a Loss of Rs 7.0 or around 1.4%.

Overall, the S&P BSE SENSEX is up 8.3% over the year.

Current Valuations

At the current price of Rs 510.1, the price to earnings (P/E) ratio of KAVERI SEED stands at 16.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.

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