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PRAJ IND.LTD Announces Quarterly Results (2QFY19); Net Profit Up 88.6%

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PRAJ IND.LTD Announces Quarterly Results (2QFY19); Net Profit Up 88.6%
Fri, 9 Nov

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

PRAJ IND.LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m2,0791,9162,51031.0%20.8%
Other incomeRs m25345149.6%104.0%
TurnoverRs m2,1041,9502,56131.3%21.8%
ExpensesRs m1,9811,8442,37228.7%19.7%
Gross profitRs m987213891.3%41.4%
DepreciationRs m6159600.2%-3.1%
InterestRs m321-45.5%-57.1%
Profit before taxRs m5945129187.1%119.5%
TaxRs m111039296.0%250.0%
Profit after taxRs m473589156.2%88.6%
Gross profit margin%4.73.85.5
Effective tax rate%19.122.130.5
Net profit margin%2.31.83.5
* 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 20.8% on a year-on-year (YoY) basis. The expenses were up by 19.7% YoY during the same period.
  • The company's operating profit increased by 41.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 5.5% in 2QFY19 as against 4.7% in 2QFY18.
  • Depreciation charges declined by 3.1% and finance costs declined by 57.1% YoY, respectively.
  • Other income increased by 104.0% YoY during the quarter.
  • Net profit for the quarter increased by 88.6% YoY. Net profit margins during the quarter increased from 2.3% in 2QFY18 to 3.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 31.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 28.7% QoQ during the same period.
  • The company's operating profit increased by 91.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 5.5% in 2QFY19 as against 3.8% in 1QFY18.
  • Net profit for the quarter increased by 156.2% QoQ, while net profit margins increased from 1.8% in 1QFY18 to 3.5% in 2QFY19.

To see how PRAJ IND.LTD has performed over the last eight quarters, please visit here.

PRAJ IND.LTD Share Price Performance

Over the last one year, PRAJ IND.LTD share price has moved up from Rs 82.7 to Rs 108.6, registering a Gain of Rs 25.9 or around 31.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,226.1 (up 0.2%). Over the last one year it has moved down from 18,392.8 to 18,226.1, a gain of 167 points (down 0.9%).

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

Current Valuations

At the current price of Rs 108.6, the price to earnings (P/E) ratio of PRAJ IND.LTD stands at 42.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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