MARICO LTD Announces Quarterly Results (3QFY19); Net Profit Up 12.7%

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MARICO LTD Announces Quarterly Results (3QFY19); Net Profit Up 12.7%
Wed, 13 Feb

MARICO LTD has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

MARICO LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m16,24318,36818,6101.3%14.6%
Other incomeRs m174292216-26.2%23.9%
TurnoverRs m16,41718,66018,8250.9%14.7%
ExpensesRs m13,22315,42815,120-2.0%14.4%
Gross profitRs m3,0192,9473,48918.4%15.6%
DepreciationRs m2132242260.8%5.9%
InterestRs m395748-15.5%23.5%
Profit before taxRs m2,9412,9593,43116.0%16.7%
TaxRs m70977691417.8%29.0%
Profit after taxRs m2,2332,1832,51715.3%12.7%
Gross profit margin%18.616.018.8
Effective tax rate%24.126.226.6
Net profit margin%13.611.713.4
* 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 14.6% on a year-on-year (YoY) basis. The expenses were up by 14.4% YoY during the same period.
  • The company's operating profit increased by 15.6% YoY during the quarter. Consequently, operating profit margins remained same and stood at 18.8% in 3QFY19.
  • Depreciation charges increased by 5.9% and finance costs increased by 23.5% YoY, respectively.
  • Other income increased by 23.9% YoY during the quarter.
  • Net profit for the quarter increased by 12.7% YoY. Net profit margins during the quarter declined from 13.6% in 3QFY18 to 13.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.0% QoQ during the same period.
  • The company's operating profit increased by 18.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.8% in 3QFY19 as against 16.0% in 2QFY18.
  • Net profit for the quarter increased by 15.3% QoQ, while net profit margins increased from 11.7% in 2QFY18 to 13.4% in 3QFY19.

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

MARICO LTD Share Price Performance

Over the last one year, MARICO LTD share price has moved up from Rs 310.3 to Rs 348.9, registering a Gain of Rs 38.6 or around 12.4%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,517.1 (up 0.5%). Over the last one year it has moved up from 10,589.3 to 11,517.1, a gain of 928 points (up 8.8%).

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 348.9, the price to earnings (P/E) ratio of MARICO LTD stands at 49.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 17.5 times.

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For the quarter ended September 2019, MARICO has posted a net profit of Rs 3 bn (up 15.5% YoY). Sales on the other hand came in at Rs 18 bn (down 0.4% YoY). Read on for a complete analysis of MARICO's quarterly results.

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