NESTLE Announces Quarterly Results (2QFY21); Net Profit Down 1.4%

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NESTLE Announces Quarterly Results (2QFY21); Net Profit Down 1.4%
Mon, 26 Oct

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

NESTLE Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m32,15830,50535,41716.1%10.1%
Other incomeRs m564379345-9.1%-38.9%
TurnoverRs m32,72230,88435,76215.8%9.3%
ExpensesRs m24,64423,02926,58115.4%7.9%
Gross profitRs m7,5147,4768,83618.2%17.6%
DepreciationRs m780924911-1.4%16.8%
InterestRs m299408405-0.9%35.2%
Profit before taxRs m6,9996,5237,86520.6%12.4%
TaxRs m1,0451,6571,99420.4%90.9%
Profit after taxRs m5,9544,8665,87120.7%-1.4%
Gross profit margin%23.424.524.9
Effective tax rate%14.925.425.4
Net profit margin%18.215.816.4
* 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 10.1% on a year-on-year (YoY) basis. The expenses were up by 7.9% YoY during the same period.
  • The company's operating profit increased by 17.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.9% in 2QFY21 as against 23.4% in 2QFY20.
  • Depreciation charges increased by 16.8% and finance costs increased by 35.2% YoY, respectively.
  • Other income declined by 38.9% YoY during the quarter.
  • Net profit for the quarter declined by 1.4% YoY. Net profit margins during the quarter declined from 18.2% in 2QFY20 to 16.4% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 16.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 15.4% QoQ during the same period.
  • The company's operating profit increased by 18.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.9% in 2QFY21 as against 24.5% in 1QFY20.
  • Net profit for the quarter increased by 20.7% QoQ, while net profit margins increased from 15.8% in 1QFY20 to 16.4% in 2QFY21.

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

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NESTLE Share Price Performance

Over the last one year, NESTLE share price has moved up from Rs 14,794.9 to Rs 16,316.7, registering a Gain of Rs 1,521.8 or around 10.3%.

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 16,316.7, the price to earnings (P/E) ratio of NESTLE stands at 75.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 42.8 times.

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