VARDHMAN TEXTILES Announces Quarterly Results (3QFY19); Net Profit Up 48.1%

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VARDHMAN TEXTILES Announces Quarterly Results (3QFY19); Net Profit Up 48.1%
Wed, 13 Feb

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

VARDHMAN TEXTILES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m16,48016,85117,2942.6%4.9%
Other incomeRs m37642160443.6%60.9%
TurnoverRs m16,85517,27217,8993.6%6.2%
ExpensesRs m14,22413,54114,2235.0%0.0%
Gross profitRs m2,2133,3183,071-7.4%38.8%
DepreciationRs m6066206301.5%3.9%
InterestRs m282292267-8.8%-5.4%
Profit before taxRs m1,7012,8262,779-1.7%63.4%
TaxRs m4118628680.6%111.4%
Profit after taxRs m1,2901,9641,911-2.7%48.1%
Gross profit margin%13.419.717.8
Effective tax rate%24.130.531.2
Net profit margin%7.711.410.7
* 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 4.9% on a year-on-year (YoY) basis. The expenses were down by 0.0% YoY during the same period.
  • The company's operating profit increased by 38.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.8% in 3QFY19 as against 13.4% in 3QFY18.
  • Depreciation charges increased by 3.9% and finance costs declined by 5.4% YoY, respectively.
  • Other income increased by 60.9% YoY during the quarter.
  • Net profit for the quarter increased by 48.1% YoY. Net profit margins during the quarter increased from 7.7% in 3QFY18 to 10.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.0% QoQ during the same period.
  • The company's operating profit declined by 7.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.8% in 3QFY19 as against 19.7% in 2QFY18.
  • Net profit for the quarter declined by 2.7% QoQ, while net profit margins declined from 11.4% in 2QFY18 to 10.7% in 3QFY19.

To see how VARDHMAN TEXTILES has performed over the last eight quarters, please visit here.

VARDHMAN TEXTILES Share Price Performance

Over the last one year, VARDHMAN TEXTILES share price has moved up from Rs 1,316.3 to Rs 991.6, registering a Loss of Rs 324.8 or around 24.7%.

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 991.6, the price to earnings (P/E) ratio of VARDHMAN TEXTILES stands at 8.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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For the quarter ended September 2019, VARDHMAN TEXTILES has posted a net profit of Rs 1 bn (down 40.1% YoY). Sales on the other hand came in at Rs 17 bn (down 1.3% YoY). Read on for a complete analysis of VARDHMAN TEXTILES's quarterly results.

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