UNITED SPIRITS Announces Quarterly Results (4QFY20); Net Profit Down 81.1%

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UNITED SPIRITS Announces Quarterly Results (4QFY20); Net Profit Down 81.1%
Fri, 29 May

UNITED SPIRITS has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

UNITED SPIRITS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m72,15678,07264,223-17.7%-11.0%
Other incomeRs m11917641-76.7%-65.5%
TurnoverRs m72,27578,24864,264-17.9%-11.1%
ExpensesRs m69,32073,83261,509-16.7%-11.3%
Gross profitRs m2,7714,2402,727-35.7%-1.6%
DepreciationRs m40152467829.4%69.1%
InterestRs m6054554805.5%-20.7%
Profit before taxRs m1,8843,4371,610-53.2%-14.5%
TaxRs m6228491,37161.5%120.4%
Profit after taxRs m1,2622,588239-90.8%-81.1%
Gross profit margin%3.85.44.2
Effective tax rate%33.024.785.2
Net profit margin%1.73.30.4
* 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 11.0% on a year-on-year (YoY) basis. The expenses were down by 11.3% YoY during the same period.
  • The company's operating profit declined by 1.6% YoY during the quarter. Consequently, operating profit margins remained same and stood at 4.2% in 4QFY20.
  • Depreciation charges increased by 69.1% and finance costs declined by 20.7% YoY, respectively.
  • Other income declined by 65.5% YoY during the quarter.
  • Net profit for the quarter declined by 81.1% YoY. Net profit margins during the quarter declined from 1.7% in 4QFY19 to 0.4% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 17.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 16.7% QoQ during the same period.
  • The company's operating profit declined by 35.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.2% in 4QFY20 as against 5.4% in 3QFY19.
  • Net profit for the quarter declined by 90.8% QoQ, while net profit margins declined from 3.3% in 3QFY19 to 0.4% in 4QFY20.

To see how UNITED SPIRITS has performed over the last eight quarters,please visit here.

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UNITED SPIRITS Share Price Performance

Over the last one year,UNITED SPIRITS share price has moved up from Rs 535.4 to Rs 570.7, registering a Gain of Rs 35.4 or around 6.6%.

Overall, the S&P BSE SENSEX is down 19.2% over the year.

Current Valuations

At the current price of Rs 570.7, the price to earnings (P/E) ratio of UNITED SPIRITS stands at 13.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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