MARICO Announces Quarterly Results (3QFY21); Net Profit Up 13.0%

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MARICO Announces Quarterly Results (3QFY21); Net Profit Up 13.0%
Thu, 28 Jan

MARICO has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

MARICO Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m18,24019,89021,2206.7%16.3%
Other incomeRs m290270240-11.1%-17.2%
TurnoverRs m18,53020,16021,4606.4%15.8%
ExpensesRs m14,51016,00017,0906.8%17.8%
Gross profitRs m3,7303,5604,13016.0%10.7%
DepreciationRs m3203303609.1%12.5%
InterestRs m1208070-12.5%-41.7%
Profit before taxRs m3,5803,4203,94015.2%10.1%
TaxRs m82069082018.8%0.0%
Profit after taxRs m2,7602,7303,12014.3%13.0%
Gross profit margin%20.417.919.5
Effective tax rate%22.920.220.8
Net profit margin%14.913.514.5
* 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 grew 16.3% on a year-on-year (YoY) basis. The expenses were up by 17.8% YoY during the same period.
  • The company's operating profit increased by 10.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.5% in 3QFY21 as against 20.4% in 3QFY20.
  • Depreciation charges increased by 12.5% and finance costs declined by 41.7% YoY, respectively.
  • Other income declined by 17.2% YoY during the quarter.
  • Net profit for the quarter increased by 13.0% YoY. Net profit margins during the quarter declined from 14.9% in 3QFY20 to 14.5% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.8% QoQ during the same period.
  • The company's operating profit increased by 16.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.5% in 3QFY21 as against 17.9% in 2QFY20.
  • Net profit for the quarter increased by 14.3% QoQ, while net profit margins increased from 13.5% in 2QFY20 to 14.5% in 3QFY21.

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

Urgent New Alert: About Coming Once-in-a-generation Wealth Shift

MARICO Share Price Performance

Over the last one year, MARICO share price has moved up from Rs 335.1 to Rs 410.5, registering a Gain of Rs 75.5 or around 22.5%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 12,499.5 (down 0.8%). Over the last one year it has moved up from 11,727.2 to 12,499.5, a gain of 772 points (up 6.6%).

Overall, the S&P BSE SENSEX is up 14.0% over the year.

Current Valuations

At the current price of Rs 410.5, the price to earnings (P/E) ratio of MARICO stands at 45.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 17.5 times.

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MARICO Announces Quarterly Results (2QFY21); Net Profit Up 8.3% (Quarterly Result Update)

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For the quarter ended September 2020, MARICO has posted a net profit of Rs 3 bn (up 8.3% YoY). Sales on the other hand came in at Rs 20 bn (up 8.7% YoY). Read on for a complete analysis of MARICO's quarterly results.

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