PIDILITE INDUSTRIES Announces Quarterly Results (2QFY21); Net Profit Up 9.8%

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PIDILITE INDUSTRIES Announces Quarterly Results (2QFY21); Net Profit Up 9.8%
Fri, 6 Nov

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

PIDILITE INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m18,0668,77818,803114.2%4.1%
Other incomeRs m5582002178.5%-61.1%
TurnoverRs m18,6248,97819,020111.8%2.1%
ExpensesRs m14,3838,11513,67768.5%-4.9%
Gross profitRs m3,4606645,126672.4%48.2%
DepreciationRs m4024614793.9%19.0%
InterestRs m839187-4.6%4.5%
Profit before taxRs m3,5333124,7781431.4%35.2%
TaxRs m2931591,220669.5%316.4%
Profit after taxRs m3,2401543,5582218.1%9.8%
Gross profit margin%19.27.627.3
Effective tax rate%8.350.825.5
Net profit margin%17.41.718.7
* 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 grew 4.1% on a year-on-year (YoY) basis. The expenses were down by 4.9% YoY during the same period.
  • The company's operating profit increased by 48.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.3% in 2QFY21 as against 19.2% in 2QFY20.
  • Depreciation charges increased by 19.0% and finance costs increased by 4.5% YoY, respectively.
  • Other income declined by 61.1% YoY during the quarter.
  • Net profit for the quarter increased by 9.8% YoY. Net profit margins during the quarter increased from 17.4% in 2QFY20 to 18.7% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 114.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 68.5% QoQ during the same period.
  • The company's operating profit increased by 672.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.3% in 2QFY21 as against 7.6% in 1QFY20.
  • Net profit for the quarter increased by 2218.1% QoQ, while net profit margins increased from 1.7% in 1QFY20 to 18.7% in 2QFY21.

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

Last Day: Watch the Replay of Great Indian Wealth Project Special Event

PIDILITE INDUSTRIES Share Price Performance

Over the last one year, PIDILITE INDUSTRIES share price has moved up from Rs 1,370.6 to Rs 1,594.1, registering a Gain of Rs 223.6 or around 16.3%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,178.7 (up 0.1%). Over the last one year it has moved down from 12,269.5 to 11,178.7, a gain of 1,091 points (down 8.9%).

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 1,594.1, the price to earnings (P/E) ratio of PIDILITE INDUSTRIES stands at 93.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 19.7 times.

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