KALYANI STEELS Announces Quarterly Results (3QFY19); Net Profit Up 12.4%

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KALYANI STEELS Announces Quarterly Results (3QFY19); Net Profit Up 12.4%
Fri, 15 Feb

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

KALYANI STEELS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m3,3713,8603,740-3.1%10.9%
Other incomeRs m7617123635.3%63.0%
TurnoverRs m3,4473,8773,864-0.3%12.1%
ExpensesRs m2,8793,3333,311-0.7%15.0%
Gross profitRs m493527492-6.5%0.0%
DepreciationRs m929796-0.9%4.1%
InterestRs m1615166.9%2.2%
Profit before taxRs m46143250416.6%9.4%
TaxRs m1531471587.7%3.5%
Profit after taxRs m30828534621.2%12.4%
Gross profit margin%14.613.613.2
Effective tax rate%33.133.931.3
Net profit margin%8.97.49.0
* 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 10.9% on a year-on-year (YoY) basis. The expenses were up by 15.0% YoY during the same period.
  • The company's operating profit declined by 0.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.2% in 3QFY19 as against 14.6% in 3QFY18.
  • Depreciation charges increased by 4.1% and finance costs increased by 2.2% YoY, respectively.
  • Other income increased by 63.0% YoY during the quarter.
  • Net profit for the quarter increased by 12.4% YoY. Net profit margins during the quarter increased from 8.9% in 3QFY18 to 9.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.7% QoQ during the same period.
  • The company's operating profit declined by 6.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.2% in 3QFY19 as against 13.6% in 2QFY18.
  • Net profit for the quarter increased by 21.2% QoQ, while net profit margins increased from 7.4% in 2QFY18 to 9.0% in 3QFY19.

To see how KALYANI STEELS has performed over the last eight quarters, please visit here.

KALYANI STEELS Share Price Performance

Over the last one year, KALYANI STEELS share price has moved up from Rs 326.6 to Rs 187.0, registering a Loss of Rs 139.6 or around 42.7%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 9,982.0 (down 2.6%). Over the last one year it has moved down from 15,367.0 to 9,982.0, a gain of 5,385 points (down 35.0%).

Overall, the S&P BSE SENSEX is up 4.4% over the year.

Current Valuations

At the current price of Rs 187.0, the price to earnings (P/E) ratio of KALYANI STEELS stands at 6.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.1 times.

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