PIDILITE INDUSTRIES Announces Quarterly Results (3QFY21); Net Profit Up 29.1%

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PIDILITE INDUSTRIES Announces Quarterly Results (3QFY21); Net Profit Up 29.1%
Mon, 1 Feb

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

PIDILITE INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m19,26618,80322,99022.3%19.3%
Other incomeRs m398217204-6.0%-48.8%
TurnoverRs m19,66419,02023,19421.9%18.0%
ExpensesRs m14,63413,67716,58221.2%13.3%
Gross profitRs m4,6325,1266,40825.0%38.4%
DepreciationRs m4194794953.3%18.2%
InterestRs m828712139.5%47.4%
Profit before taxRs m4,5304,7785,99725.5%32.4%
TaxRs m1,0841,2201,54826.9%42.8%
Profit after taxRs m3,4453,5584,44925.0%29.1%
Gross profit margin%24.027.327.9
Effective tax rate%23.925.525.8
Net profit margin%17.518.719.2
* 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 19.3% on a year-on-year (YoY) basis. The expenses were up by 13.3% YoY during the same period.
  • The company's operating profit increased by 38.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.9% in 3QFY21 as against 24.0% in 3QFY20.
  • Depreciation charges increased by 18.2% and finance costs increased by 47.4% YoY, respectively.
  • Other income declined by 48.8% YoY during the quarter.
  • Net profit for the quarter increased by 29.1% YoY. Net profit margins during the quarter increased from 17.5% in 3QFY20 to 19.2% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 22.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 21.2% QoQ during the same period.
  • The company's operating profit increased by 25.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.9% in 3QFY21 as against 27.3% in 2QFY20.
  • Net profit for the quarter increased by 25.0% QoQ, while net profit margins increased from 18.7% in 2QFY20 to 19.2% in 3QFY21.

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 1,485.8 to Rs 1,724.3, registering a Gain of Rs 238.6 or around 16.1%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 12,447.3 (up 1.9%). Over the last one year it has moved up from 11,380.1 to 12,447.3, a gain of 1,067 points (up 9.4%).

Overall, the S&P BSE SENSEX is up 18.6% over the year.

Current Valuations

At the current price of Rs 1,724.3, the price to earnings (P/E) ratio of PIDILITE INDUSTRIES stands at 90.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 19.8 times.

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