MARICO Announces Quarterly Results (1QFY22); Net Profit Down 6.4%

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MARICO Announces Quarterly Results (1QFY22); Net Profit Down 6.4%
Tue, 3 Aug

MARICO has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

MARICO Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m19,25020,12025,25025.5%31.2%
Other incomeRs m190290270-6.9%42.1%
TurnoverRs m19,44020,41025,52025.0%31.3%
ExpensesRs m14,58016,93020,44020.7%40.2%
Gross profitRs m5,3103,0004,81060.3%-9.4%
DepreciationRs m340360330-8.3%-2.9%
InterestRs m9010080-20.0%-11.1%
Profit before taxRs m5,0702,8304,67065.0%-7.9%
TaxRs m1,1705601,02082.1%-12.8%
Profit after taxRs m3,9002,2703,65060.8%-6.4%
Gross profit margin%27.614.919.0
Effective tax rate%23.119.821.8
Net profit margin%20.111.114.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 31.2% on a year-on-year (YoY) basis. The expenses were up by 40.2% YoY during the same period.
  • The company's operating profit declined by 9.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.0% in 1QFY22 as against 27.6% in 1QFY21.
  • Depreciation charges declined by 2.9% and finance costs declined by 11.1% YoY, respectively.
  • Other income increased by 42.1% YoY during the quarter.
  • Net profit for the quarter declined by 6.4% YoY. Net profit margins during the quarter declined from 20.1% in 1QFY21 to 14.3% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 25.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 20.7% QoQ during the same period.
  • The company's operating profit increased by 60.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.0% in 1QFY22 as against 14.9% in 4QFY21.
  • Net profit for the quarter increased by 60.8% QoQ, while net profit margins increased from 11.1% in 4QFY21 to 14.3% in 1QFY22.

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

MARICO Share Price Performance

Over the last one year, MARICO share price has moved up from Rs 362.8 to Rs 545.0, registering a Gain of Rs 182.2 or around 50.2%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 13,749.1 (up 1.6%). Over the last one year it has moved up from 11,418.1 to 13,749.1, a gain of 2,331 points (up 20.4%).

Overall, the S&P BSE SENSEX is up 42.6% over the year.

Current Valuations

At the current price of Rs 545.0, the price to earnings (P/E) ratio of MARICO stands at 59.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 23.5 times.

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