KALYANI STEELS Announces Quarterly Results (4QFY19); Net Profit Up 36.3%

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KALYANI STEELS Announces Quarterly Results (4QFY19); Net Profit Up 36.3%
Tue, 21 May

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

KALYANI STEELS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m3,5633,7403,220-13.9%-9.6%
Other incomeRs m4212389-27.6%114.1%
TurnoverRs m3,6053,8643,309-14.4%-8.2%
ExpensesRs m3,0143,3112,675-19.2%-11.2%
Gross profitRs m54949260122.1%9.4%
DepreciationRs m96961037.9%7.6%
InterestRs m30162345.3%-22.7%
Profit before taxRs m46550456411.9%21.3%
TaxRs m165158155-1.7%-6.1%
Profit after taxRs m30034640918.1%36.3%
Gross profit margin%15.413.218.7
Effective tax rate%35.531.327.5
Net profit margin%8.39.012.3
* 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 9.6% on a year-on-year (YoY) basis. The expenses were down by 11.2% YoY during the same period.
  • The company's operating profit increased by 9.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.7% in 4QFY19 as against 15.4% in 4QFY18.
  • Depreciation charges increased by 7.6% and finance costs declined by 22.7% YoY, respectively.
  • Other income increased by 114.1% YoY during the quarter.
  • Net profit for the quarter increased by 36.3% YoY. Net profit margins during the quarter increased from 8.3% in 4QFY18 to 12.3% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 13.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 19.2% QoQ during the same period.
  • The company's operating profit increased by 22.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.7% in 4QFY19 as against 13.2% in 3QFY18.
  • Net profit for the quarter increased by 18.1% QoQ, while net profit margins increased from 9.0% in 3QFY18 to 12.3% in 4QFY19.

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 281.8 to Rs 218.2, registering a Loss of Rs 63.6 or around 22.6%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 10,696.8 (down 1.0%). Over the last one year it has moved down from 13,399.6 to 10,696.8, a gain of 2,703 points (down 20.2%).

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

Current Valuations

At the current price of Rs 218.2, the price to earnings (P/E) ratio of KALYANI STEELS stands at 7.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.

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For the quarter ended June 2019, KALYANI STEELS has posted a net profit of Rs 366 m (up 30.6% YoY). Sales on the other hand came in at Rs 3 bn (up 5.8% YoY). Read on for a complete analysis of KALYANI STEELS's quarterly results.

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