MARICO Announces Quarterly Results (2QFY20); Net Profit Up 15.5%

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MARICO Announces Quarterly Results (2QFY20); Net Profit Up 15.5%
Thu, 31 Oct

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

MARICO Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m18,36821,66018,290-15.6%-0.4%
Other incomeRs m29228035025.0%19.8%
TurnoverRs m18,66021,94018,640-15.0%-0.1%
ExpensesRs m15,42817,05014,760-13.4%-4.3%
Gross profitRs m2,9474,4203,530-20.1%19.8%
DepreciationRs m2243503500.0%56.3%
InterestRs m571201308.3%129.3%
Profit before taxRs m2,9594,2303,400-19.6%14.9%
TaxRs m7761,080880-18.5%13.4%
Profit after taxRs m2,1833,1502,520-20.0%15.5%
Gross profit margin%16.020.419.3
Effective tax rate%26.225.525.9
Net profit margin%11.714.413.5
* 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 0.4% on a year-on-year (YoY) basis. The expenses were down by 4.3% YoY during the same period.
  • The company's operating profit increased by 19.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.3% in 2QFY20 as against 16.0% in 2QFY19.
  • Depreciation charges increased by 56.3% and finance costs increased by 129.3% YoY, respectively.
  • Other income increased by 19.8% YoY during the quarter.
  • Net profit for the quarter increased by 15.5% YoY. Net profit margins during the quarter increased from 11.7% in 2QFY19 to 13.5% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 15.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 13.4% QoQ during the same period.
  • The company's operating profit declined by 20.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.3% in 2QFY20 as against 20.4% in 1QFY19.
  • Net profit for the quarter declined by 20.0% QoQ, while net profit margins declined from 14.4% in 1QFY19 to 13.5% in 2QFY20.

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

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MARICO Share Price Performance

Over the last one year,MARICO share price has moved up from Rs 319.8 to Rs 372.6, registering a Gain of Rs 52.8 or around 16.5%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 12,320.7 (up 0.7%). Over the last one year it has moved up from 11,127.8 to 12,320.7, a gain of 1,193 points (up 10.7%).

Overall, the S&P BSE SENSEX is up 18.7% over the year.

Current Valuations

At the current price of Rs 372.6, the price to earnings (P/E) ratio of MARICO stands at 39.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 18.7 times.

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MARICO Announces Quarterly Results (3QFY20); Net Profit Up 9.7% (Quarterly Result Update)

Jan 31, 2020 | Updated on Jan 31, 2020

For the quarter ended December 2019, MARICO has posted a net profit of Rs 3 bn (up 9.7% YoY). Sales on the other hand came in at Rs 18 bn (down 2.0% YoY). Read on for a complete analysis of MARICO's quarterly results.

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