PIDILITE INDUSTRIES Announces Quarterly Results (3QFY20); Net Profit Up 58.0%

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PIDILITE INDUSTRIES Announces Quarterly Results (3QFY20); Net Profit Up 58.0%
Fri, 31 Jan

PIDILITE INDUSTRIES has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

PIDILITE INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m18,48318,06619,2666.6%4.2%
Other incomeRs m307558398-28.6%29.9%
TurnoverRs m18,79018,62419,6645.6%4.7%
ExpensesRs m15,11614,38314,6341.7%-3.2%
Gross profitRs m3,3683,4604,63233.9%37.5%
DepreciationRs m3214024194.1%30.4%
InterestRs m628382-1.1%31.9%
Profit before taxRs m3,2913,5334,53028.2%37.6%
TaxRs m1,1102931,084270.2%-2.4%
Profit after taxRs m2,1813,2403,4456.3%58.0%
Gross profit margin%18.219.224.0
Effective tax rate%33.78.323.9
Net profit margin%11.617.417.5
* 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 4.2% on a year-on-year (YoY) basis. The expenses were down by 3.2% YoY during the same period.
  • The company's operating profit increased by 37.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.0% in 3QFY20 as against 18.2% in 3QFY19.
  • Depreciation charges increased by 30.4% and finance costs increased by 31.9% YoY, respectively.
  • Other income increased by 29.9% YoY during the quarter.
  • Net profit for the quarter increased by 58.0% YoY. Net profit margins during the quarter increased from 11.6% in 3QFY19 to 17.5% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.7% QoQ during the same period.
  • The company's operating profit increased by 33.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.0% in 3QFY20 as against 19.2% in 2QFY19.
  • Net profit for the quarter increased by 6.3% QoQ, while net profit margins increased from 17.4% in 2QFY19 to 17.5% in 3QFY20.

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

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PIDILITE INDUSTRIES Share Price Performance

Over the last one year,PIDILITE INDUSTRIES share price has moved up from Rs 1,116.4 to Rs 1,524.9, registering a Gain of Rs 408.5 or around 36.6%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,723.7 (up 0.3%). Over the last one year it has moved up from 11,615.9 to 11,723.7, a gain of 108 points (up 0.9%).

Overall, the S&P BSE SENSEX is up 15.0% over the year.

Current Valuations

At the current price of Rs 1,524.9, the price to earnings (P/E) ratio of PIDILITE INDUSTRIES stands at 65.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 18.8 times.

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