MADHUCON PROJECTS Announces Quarterly Results (2QFY19); Net Profit Down 242.3%

Thu, 15 Nov

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

MADHUCON PROJECTS Quarterly Financials

No. of Mths Qtr. Ending		3 Sep-17*	3 Jun-18*	3 Sep-18*	QoQ Change	YoY Change
Net Sales	Rs m	1,182	1,602	1,491	-6.9%	26.2%
Other income	Rs m	11	22	43	98.4%	279.7%
Turnover	Rs m	1,193	1,623	1,534	-5.5%	28.5%
Expenses	Rs m	871	1,410	1,280	-9.3%	47.0%
Gross profit	Rs m	311	192	212	10.5%	-32.0%
Depreciation	Rs m	61	19	19	0.9%	-68.5%
Interest	Rs m	211	239	332	39.2%	57.4%
Profit before tax	Rs m	51	-45	-97		-290.5%
Tax	Rs m	17	0	-49	0.0%	-384.9%
Profit after tax	Rs m	34	-45	-48		-242.3%
Gross profit margin	%	26.3	12.0	14.2
Effective tax rate	%	33.8	0.0	50.5
Net profit margin	%	2.8	-2.7	-3.1

Year-on-Year Performance:

• The company's operating income during the quarter grew 26.2% on a year-on-year (YoY) basis. The expenses were up by 47.0% YoY during the same period.
• The company's operating profit declined by 32.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.2% in 2QFY19 as against 26.3% in 2QFY18.
• Depreciation charges declined by 68.5% and finance costs increased by 57.4% YoY, respectively.
• Other income increased by 279.7% YoY during the quarter.
• Net profit for the quarter declined by 242.3% YoY. Net profit margins during the quarter declined from 2.8% in 2QFY18 to -3.1% in 2QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 6.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 9.3% QoQ during the same period.
• The company's operating profit increased by 10.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.2% in 2QFY19 as against 12.0% in 1QFY18.
• Net profit for the quarter declined by 7.6% QoQ, while net profit margins declined from -2.8% in 1QFY18 to -3.1% in 2QFY19.

To see how MADHUCON PROJECTS has performed over the last eight quarters, please visit here.

MADHUCON PROJECTS Share Price Performance

Over the last one year, MADHUCON PROJECTS share price has moved up from Rs 30.0 to Rs 7.1, registering a Loss of Rs 22.9 or around 76.3%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,696.8 (down 0.1%). Over the last one year it has moved down from 2,249.8 to 1,696.8, a gain of 553 points (down 24.6%).

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

Current Valuations

At the current price of Rs 7.1, the price to book value (P/BV) ratio of MADHUCON PROJECTS stands at -0.4 times.