PI INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Up 17.5%

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PI INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Up 17.5%
Fri, 9 Nov

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

PI INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m5,6116,0567,23019.4%28.9%
Other incomeRs m12310212421.6%1.1%
TurnoverRs m5,7336,1587,35419.4%28.3%
ExpensesRs m4,3894,8755,88420.7%34.1%
Gross profitRs m1,2221,1811,34614.0%10.2%
DepreciationRs m2052202283.6%11.2%
InterestRs m121714-17.6%12.9%
Profit before taxRs m1,1271,0461,22817.4%9.0%
TaxRs m32422928424.0%-12.2%
Profit after taxRs m80381794415.5%17.5%
Gross profit margin%21.819.518.6
Effective tax rate%28.721.923.1
Net profit margin%14.013.312.8
* 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 28.9% on a year-on-year (YoY) basis. The expenses were up by 34.1% YoY during the same period.
  • The company's operating profit increased by 10.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.6% in 2QFY19 as against 21.8% in 2QFY18.
  • Depreciation charges increased by 11.2% and finance costs increased by 12.9% YoY, respectively.
  • Other income increased by 1.1% YoY during the quarter.
  • Net profit for the quarter increased by 17.5% YoY. Net profit margins during the quarter declined from 14.0% in 2QFY18 to 12.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 19.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 20.7% QoQ during the same period.
  • The company's operating profit declined by 14.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.6% in 2QFY19 as against 19.5% in 1QFY18.
  • Net profit for the quarter increased by 15.5% QoQ, while net profit margins declined from 13.3% in 1QFY18 to 12.8% in 2QFY19.

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

PI INDUSTRIES Share Price Performance

Over the last one year, PI INDUSTRIES share price has moved up from Rs 811.9 to Rs 835.0, registering a Gain of Rs 23.1 or around 2.8%.

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 835.0, the price to earnings (P/E) ratio of PI INDUSTRIES stands at 31.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.9 times.

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