MAN IND.(I) Announces Quarterly Results (3QFY19); Net Profit Down 8.9%

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MAN IND.(I) Announces Quarterly Results (3QFY19); Net Profit Down 8.9%
Mon, 25 Feb

MAN IND.(I) has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

MAN IND.(I) Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m4,8078,0265,156-35.8%7.2%
Other incomeRs m228290273-5.9%19.9%
TurnoverRs m5,0358,3165,429-34.7%7.8%
ExpensesRs m4,5907,1844,939-31.3%7.6%
Gross profitRs m218262217-17.2%-0.3%
DepreciationRs m99121110-8.8%11.1%
InterestRs m101179156-12.6%55.0%
Profit before taxRs m245252223-11.4%-8.9%
TaxRs m7510068-31.9%-9.1%
Profit after taxRs m1701521552.0%-8.9%
Gross profit margin%4.53.34.2
Effective tax rate%30.539.630.4
Net profit margin%3.41.82.9
* 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 7.2% on a year-on-year (YoY) basis. The expenses were up by 7.6% YoY during the same period.
  • The company's operating profit declined by 0.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.2% in 3QFY19 as against 4.5% in 3QFY18.
  • Depreciation charges increased by 11.1% and finance costs increased by 55.0% YoY, respectively.
  • Other income increased by 19.9% YoY during the quarter.
  • Net profit for the quarter declined by 8.9% YoY. Net profit margins during the quarter declined from 3.4% in 3QFY18 to 2.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 35.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 31.3% QoQ during the same period.
  • The company's operating profit increased by 17.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 4.2% in 3QFY19 as against 3.3% in 2QFY18.
  • Net profit for the quarter increased by 2.0% QoQ, while net profit margins increased from 1.8% in 2QFY18 to 2.9% in 3QFY19.

To see how MAN IND.(I) has performed over the last eight quarters, please visit here.

MAN IND.(I) Share Price Performance

Over the last one year, MAN IND.(I) share price has moved up from Rs 128.0 to Rs 59.0, registering a Loss of Rs 69.0 or around 53.9%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 10,667.1 (down 0.0%). Over the last one year it has moved down from 15,327.9 to 10,667.1, a gain of 4,661 points (down 30.4%).

Overall, the S&P BSE SENSEX is up 6.3% over the year.

Current Valuations

At the current price of Rs 59.0, the price to earnings (P/E) ratio of MAN IND.(I) stands at 4.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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