NRB BEARINGS Announces Quarterly Results (2QFY20); Net Profit Down 74.9%

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NRB BEARINGS Announces Quarterly Results (2QFY20); Net Profit Down 74.9%
Wed, 6 Nov

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

NRB BEARINGS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m2,5102,0801,889-9.2%-24.7%
Other incomeRs m951248290.2%-49.7%
TurnoverRs m2,6052,0921,937-7.4%-25.7%
ExpensesRs m2,0491,8251,699-6.9%-17.1%
Gross profitRs m461255190-25.5%-58.9%
DepreciationRs m8086882.8%9.7%
InterestRs m33434913.6%51.7%
Profit before taxRs m443138100-27.5%-77.5%
TaxRs m1525127-47.3%-82.3%
Profit after taxRs m2918773-15.9%-74.9%
Gross profit margin%18.412.210.0
Effective tax rate%34.237.026.9
Net profit margin%11.24.13.8
* 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 24.7% on a year-on-year (YoY) basis. The expenses were down by 17.1% YoY during the same period.
  • The company's operating profit declined by 58.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.0% in 2QFY20 as against 18.4% in 2QFY19.
  • Depreciation charges increased by 9.7% and finance costs increased by 51.7% YoY, respectively.
  • Other income declined by 49.7% YoY during the quarter.
  • Net profit for the quarter declined by 74.9% YoY. Net profit margins during the quarter declined from 11.2% in 2QFY19 to 3.8% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.9% QoQ during the same period.
  • The company's operating profit declined by 25.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.0% in 2QFY20 as against 12.2% in 1QFY19.
  • Net profit for the quarter declined by 15.9% QoQ, while net profit margins declined from 4.2% in 1QFY19 to 3.8% in 2QFY20.

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

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NRB BEARINGS Share Price Performance

Over the last one year,NRB BEARINGS share price has moved down from Rs 170.4 to Rs 105.7, registering a Loss of Rs 64.7 or around 38.0%.

Overall, the S&P BSE SENSEX is up 14.7% over the year.

Current Valuations

At the current price of Rs 105.7, the price to earnings (P/E) ratio of NRB BEARINGS stands at 18.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.2 times.

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NRB BEARINGS 2018-19 Annual Report Analysis (Annual Result Update)

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NRB BEARINGS Announces Quarterly Results (1QFY20); Net Profit Down 75.0% (Quarterly Result Update)

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For the quarter ended June 2019, NRB BEARINGS has posted a net profit of Rs 87 m (down 75.0% YoY). Sales on the other hand came in at Rs 2 bn (down 11.1% YoY). Read on for a complete analysis of NRB BEARINGS's quarterly results.

NRB BEARINGS Announces Quarterly Results (4QFY19); Net Profit Down 56.2% (Quarterly Result Update)

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For the quarter ended March 2019, NRB BEARINGS has posted a net profit of Rs 117 m (down 56.2% YoY). Sales on the other hand came in at Rs 2 bn (down 9.6% YoY). Read on for a complete analysis of NRB BEARINGS's quarterly results.

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