MUNJAL SHOWA Announces Quarterly Results (2QFY20); Net Profit Down 39.8%

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MUNJAL SHOWA Announces Quarterly Results (2QFY20); Net Profit Down 39.8%
Tue, 12 Nov

MUNJAL SHOWA has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

MUNJAL SHOWA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m4,6563,8803,522-9.2%-24.4%
Other incomeRs m40486026.4%51.2%
TurnoverRs m4,6963,9273,582-8.8%-23.7%
ExpensesRs m4,3573,6383,388-6.9%-22.3%
Gross profitRs m299242134-44.6%-55.2%
DepreciationRs m675851-12.6%-24.8%
InterestRs m1011400.0%50.0%
Profit before taxRs m271232143-38.3%-47.3%
TaxRs m817528-61.9%-65.0%
Profit after taxRs m190157115-27.1%-39.8%
Gross profit margin%6.46.23.8
Effective tax rate%29.932.219.8
Net profit margin%4.14.03.2
* 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 24.4% on a year-on-year (YoY) basis. The expenses were down by 22.3% YoY during the same period.
  • The company's operating profit declined by 55.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.8% in 2QFY20 as against 6.4% in 2QFY19.
  • Depreciation charges declined by 24.8% and finance costs increased by 50.0% YoY, respectively.
  • Other income increased by 51.2% YoY during the quarter.
  • Net profit for the quarter declined by 39.8% YoY. Net profit margins during the quarter declined from 4.1% in 2QFY19 to 3.2% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.9% QoQ during the same period.
  • The company's operating profit declined by 44.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.8% in 2QFY20 as against 6.2% in 1QFY19.
  • Net profit for the quarter declined by 27.1% QoQ, while net profit margins declined from 4.0% in 1QFY19 to 3.2% in 2QFY20.

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

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MUNJAL SHOWA Share Price Performance

Over the last one year,MUNJAL SHOWA share price has moved down from Rs 185.0 to Rs 132.1, registering a Loss of Rs 53.0 or around 28.6%.

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 132.1, the price to earnings (P/E) ratio of MUNJAL SHOWA stands at 9.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.9 times.

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