NAHAR SPINNING M Announces Quarterly Results (1QFY20); Net Profit Down 77.0%

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NAHAR SPINNING M Announces Quarterly Results (1QFY20); Net Profit Down 77.0%
Mon, 26 Aug

NAHAR SPINNING M has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

NAHAR SPINNING M Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m5,8256,1435,335-13.1%-8.4%
Other incomeRs m351406406.5%15.6%
TurnoverRs m5,8606,1445,376-12.5%-8.3%
ExpensesRs m5,2625,6724,973-12.3%-5.5%
Gross profitRs m563471362-23.0%-35.7%
DepreciationRs m2271881953.3%-14.1%
InterestRs m164168161-4.3%-1.7%
Profit before taxRs m20811547-58.9%-77.3%
TaxRs m706516-76.2%-77.7%
Profit after taxRs m1385032-36.3%-77.0%
Gross profit margin%9.77.76.8
Effective tax rate%33.456.732.8
Net profit margin%2.40.80.6
* 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 8.4% on a year-on-year (YoY) basis. The expenses were down by 5.5% YoY during the same period.
  • The company's operating profit declined by 35.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.8% in 1QFY20 as against 9.7% in 1QFY19.
  • Depreciation charges declined by 14.1% and finance costs declined by 1.7% YoY, respectively.
  • Other income increased by 15.6% YoY during the quarter.
  • Net profit for the quarter declined by 77.0% YoY. Net profit margins during the quarter declined from 2.4% in 1QFY19 to 0.6% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 13.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 12.3% QoQ during the same period.
  • The company's operating profit declined by 23.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.8% in 1QFY20 as against 7.7% in 4QFY19.
  • Net profit for the quarter declined by 36.3% QoQ, while net profit margins declined from 0.8% in 4QFY19 to 0.6% in 1QFY20.

To see how NAHAR SPINNING M has performed over the last eight quarters,please visit here.

NAHAR SPINNING M Share Price Performance

Over the last one year,NAHAR SPINNING M share price has moved down from Rs 93.4 to Rs 49.7, registering a Loss of Rs 43.7 or around 46.8%.

Overall, the S&P BSE SENSEX is down 4.0% over the year.

Current Valuations

At the current price of Rs 49.7, the price to earnings (P/E) ratio of NAHAR SPINNING M stands at 3.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.2 times.

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