MOTHERSON SUMI Announces Quarterly Results (2QFY19); Net Profit Down 20.9%

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MOTHERSON SUMI Announces Quarterly Results (2QFY19); Net Profit Down 20.9%
Thu, 15 Nov

MOTHERSON SUMI has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

MOTHERSON SUMI Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m134,313147,755151,0502.2%12.5%
Other incomeRs m1564474633.7%197.3%
TurnoverRs m134,469148,201151,5132.2%12.7%
ExpensesRs m122,530134,458138,9453.3%13.4%
Gross profitRs m12,14013,29712,105-9.0%-0.3%
DepreciationRs m3,2543,6463,9849.3%22.4%
InterestRs m7711,0051,31530.9%70.6%
Profit before taxRs m8,2709,0937,269-20.1%-12.1%
TaxRs m2,3363,2732,577-21.3%10.3%
Profit after taxRs m5,9355,8204,693-19.4%-20.9%
Gross profit margin%9.09.08.0
Effective tax rate%28.236.035.4
Net profit margin%4.43.93.1
* 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 12.5% on a year-on-year (YoY) basis. The expenses were up by 13.4% 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 8.0% in 2QFY19 as against 9.0% in 2QFY18.
  • Depreciation charges increased by 22.4% and finance costs increased by 70.6% YoY, respectively.
  • Other income increased by 197.3% YoY during the quarter.
  • Net profit for the quarter declined by 20.9% YoY. Net profit margins during the quarter declined from 4.4% in 2QFY18 to 3.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.3% QoQ during the same period.
  • The company's operating profit declined by 9.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.0% in 2QFY19 as against 9.0% in 1QFY18.
  • Net profit for the quarter declined by 19.4% QoQ, while net profit margins declined from 3.9% in 1QFY18 to 3.1% in 2QFY19.

To see how MOTHERSON SUMI has performed over the last eight quarters, please visit here.

MOTHERSON SUMI Share Price Performance

Over the last one year, MOTHERSON SUMI share price has moved up from Rs 232.9 to Rs 149.6, registering a Loss of Rs 83.3 or around 35.8%.

Overall, the S&P BSE SENSEX is up 6.8% over the year.

Current Valuations

At the current price of Rs 149.6, the price to earnings (P/E) ratio of MOTHERSON SUMI stands at 20.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.8 times.

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