NAHAR SPINNING M Announces Quarterly Results (2QFY19); Net Profit Up 201.0%

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NAHAR SPINNING M Announces Quarterly Results (2QFY19); Net Profit Up 201.0%
Wed, 14 Nov

NAHAR SPINNING M has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

NAHAR SPINNING M Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m5,4855,8255,400-7.3%-1.5%
Other incomeRs m243526-26.1%8.9%
TurnoverRs m5,5085,8605,426-7.4%-1.5%
ExpensesRs m5,6115,2624,699-10.7%-16.2%
Gross profitRs m-12656370124.5%
DepreciationRs m240227223-1.4%-7.0%
InterestRs m108164112-31.8%3.3%
Profit before taxRs m-45020839288.6%
TaxRs m-1977013695.7%
Profit after taxRs m-25313825685.0%
Gross profit margin%-2.39.713.0
Effective tax rate%43.733.434.7
Net profit margin%-4.62.44.7
* 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 1.5% on a year-on-year (YoY) basis. The expenses were down by 16.2% YoY during the same period.
  • The company's operating profit declined by 656.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.0% in 2QFY19 as against 2.3% in 2QFY18.
  • Depreciation charges declined by 7.0% and finance costs increased by 3.3% YoY, respectively.
  • Other income increased by 8.9% YoY during the quarter.
  • Net profit for the quarter increased by 201.0% YoY. Net profit margins during the quarter increased from -4.6% in 2QFY18 to 4.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 10.7% QoQ during the same period.
  • The company's operating profit increased by 24.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.0% in 2QFY19 as against 9.7% in 1QFY18.
  • Net profit for the quarter increased by 85.0% QoQ, while net profit margins increased from 2.4% in 1QFY18 to 4.7% in 2QFY19.

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 up from Rs 114.4 to Rs 98.8, registering a Loss of Rs 15.6 or around 13.6%.

Overall, the S&P BSE SENSEX is up 6.5% over the year.

Current Valuations

At the current price of Rs 98.8, the price to earnings (P/E) ratio of NAHAR SPINNING M stands at 6.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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