MUNJAL SHOWA Announces Quarterly Results (2QFY19); Net Profit Down 4.7%

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MUNJAL SHOWA Announces Quarterly Results (2QFY19); Net Profit Down 4.7%
Mon, 12 Nov

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

MUNJAL SHOWA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m4,1534,4244,6565.3%12.1%
Other incomeRs m425740-29.9%-4.1%
TurnoverRs m4,1944,4814,6964.8%12.0%
ExpensesRs m3,8424,1754,3574.4%13.4%
Gross profitRs m31124929920.1%-3.8%
DepreciationRs m7367670.3%-7.7%
InterestRs m001757.1%500.0%
Profit before taxRs m28023927113.5%-3.0%
TaxRs m80668123.7%1.2%
Profit after taxRs m2001741909.7%-4.7%
Gross profit margin%7.55.66.4
Effective tax rate%28.627.429.9
Net profit margin%4.83.94.1
* 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 12.1% 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 3.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.4% in 2QFY19 as against 7.5% in 2QFY18.
  • Depreciation charges declined by 7.7% and finance costs increased by 500.0% YoY, respectively.
  • Other income declined by 4.1% YoY during the quarter.
  • Net profit for the quarter declined by 4.7% YoY. Net profit margins during the quarter declined from 4.8% in 2QFY18 to 4.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.4% QoQ during the same period.
  • The company's operating profit increased by 20.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 6.4% in 2QFY19 as against 5.6% in 1QFY18.
  • Net profit for the quarter increased by 9.7% QoQ, while net profit margins increased from 3.9% in 1QFY18 to 4.1% in 2QFY19.

To see how MUNJAL SHOWA has performed over the last eight quarters, please visit here.

MUNJAL SHOWA Share Price Performance

Over the last one year, MUNJAL SHOWA share price has moved up from Rs 275.9 to Rs 185.6, registering a Loss of Rs 90.3 or around 32.7%.

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 185.6, the price to earnings (P/E) ratio of MUNJAL SHOWA stands at 9.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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