PI INDUSTRIES Announces Quarterly Results (4QFY20); Net Profit Down 21.0%

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PI INDUSTRIES Announces Quarterly Results (4QFY20); Net Profit Down 21.0%
Mon, 8 Jun

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

PI INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m8,0488,4987,955-6.4%-1.2%
Other incomeRs m22219753-73.1%-76.1%
TurnoverRs m8,2708,6958,008-7.9%-3.2%
ExpensesRs m6,3296,6426,267-5.6%-1.0%
Gross profitRs m1,7191,8561,688-9.1%-1.8%
DepreciationRs m24431840527.4%66.0%
InterestRs m13458793.3%569.2%
Profit before taxRs m1,6841,6901,249-26.1%-25.8%
TaxRs m440486266-45.3%-39.5%
Profit after taxRs m1,2441,204983-18.4%-21.0%
Gross profit margin%21.421.821.2
Effective tax rate%26.128.821.3
Net profit margin%15.013.812.3
* 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 fell 1.2% on a year-on-year (YoY) basis. The expenses were down by 1.0% YoY during the same period.
  • The company's operating profit declined by 1.8% YoY during the quarter. Consequently, operating profit margins remained same and stood at 21.2% in 4QFY20.
  • Depreciation charges increased by 66.0% and finance costs increased by 569.2% YoY, respectively.
  • Other income declined by 76.1% YoY during the quarter.
  • Net profit for the quarter declined by 21.0% YoY. Net profit margins during the quarter declined from 15.0% in 4QFY19 to 12.3% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.6% QoQ during the same period.
  • The company's operating profit declined by 9.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.2% in 4QFY20 as against 21.8% in 3QFY19.
  • Net profit for the quarter declined by 18.4% QoQ, while net profit margins declined from 13.8% in 3QFY19 to 12.3% in 4QFY20.

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

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PI INDUSTRIES Share Price Performance

Over the last one year,PI INDUSTRIES share price has moved up from Rs 1,101.4 to Rs 1,625.9, registering a Gain of Rs 524.5 or around 47.6%.

Overall, the S&P BSE SENSEX is down 12.0% over the year.

Current Valuations

At the current price of Rs 1,625.9, the price to earnings (P/E) ratio of PI INDUSTRIES stands at 50.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.7 times.

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