PIDILITE INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Down 8.8%

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PIDILITE INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Down 8.8%
Fri, 25 Jan

PIDILITE INDUSTRIES has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

PIDILITE INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m15,42917,57418,4835.2%19.8%
Other incomeRs m19527630711.0%57.7%
TurnoverRs m15,62417,85118,7905.3%20.3%
ExpensesRs m11,72713,92615,1168.5%28.9%
Gross profitRs m3,7243,6423,368-7.5%-9.6%
DepreciationRs m2923163211.6%9.7%
InterestRs m4160623.2%51.1%
Profit before taxRs m3,5853,5423,291-7.1%-8.2%
TaxRs m1,1931,2301,110-9.8%-6.9%
Profit after taxRs m2,3912,3122,181-5.7%-8.8%
Gross profit margin%24.120.718.2
Effective tax rate%33.334.733.7
Net profit margin%15.313.011.6
* 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 grew 19.8% on a year-on-year (YoY) basis. The expenses were up by 28.9% YoY during the same period.
  • The company's operating profit declined by 9.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.2% in 3QFY19 as against 24.1% in 3QFY18.
  • Depreciation charges increased by 9.7% and finance costs increased by 51.1% YoY, respectively.
  • Other income increased by 57.7% YoY during the quarter.
  • Net profit for the quarter declined by 8.8% YoY. Net profit margins during the quarter declined from 15.3% in 3QFY18 to 11.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.5% QoQ during the same period.
  • The company's operating profit declined by 7.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.2% in 3QFY19 as against 20.7% in 2QFY18.
  • Net profit for the quarter declined by 5.7% QoQ, while net profit margins declined from 13.0% in 2QFY18 to 11.6% in 3QFY19.

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

PIDILITE INDUSTRIES Share Price Performance

Over the last one year, PIDILITE INDUSTRIES share price has moved up from Rs 877.4 to Rs 1,115.8, registering a Gain of Rs 238.4 or around 27.2%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,765.1 (up 0.5%). Over the last one year it has moved up from 10,936.5 to 11,765.1, a gain of 829 points (up 7.6%).

Overall, the S&P BSE SENSEX is up 0.6% over the year.

Current Valuations

At the current price of Rs 1,115.8, the price to earnings (P/E) ratio of PIDILITE INDUSTRIES stands at 61.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 16.0 times.

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Dec 9, 2019 10:56 AM

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