PRAKASH INDUSTRIES Announces Quarterly Results (1QFY20); Net Profit Down 78.1%

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PRAKASH INDUSTRIES Announces Quarterly Results (1QFY20); Net Profit Down 78.1%
Tue, 13 Aug

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

PRAKASH INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m9,8548,8478,254-6.7%-16.2%
Other incomeRs m163116-48.5%-3.7%
TurnoverRs m9,8718,8778,270-6.8%-16.2%
ExpensesRs m7,4527,0247,3154.1%-1.8%
Gross profitRs m2,4031,757939-46.6%-60.9%
DepreciationRs m3363393390.0%0.9%
InterestRs m212248246-0.7%15.8%
Profit before taxRs m1,8711,202370-69.2%-80.2%
TaxRs m184-610-100.0%
Profit after taxRs m1,6871,263370-70.7%-78.1%
Gross profit margin%24.419.911.4
Effective tax rate%9.8-5.10.0
Net profit margin%17.114.24.5
* 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 fell 16.2% on a year-on-year (YoY) basis. The expenses were down by 1.8% YoY during the same period.
  • The company's operating profit declined by 60.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.4% in 1QFY20 as against 24.4% in 1QFY19.
  • Depreciation charges increased by 0.9% and finance costs increased by 15.8% YoY, respectively.
  • Other income declined by 3.7% YoY during the quarter.
  • Net profit for the quarter declined by 78.1% YoY. Net profit margins during the quarter declined from 17.1% in 1QFY19 to 4.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.1% QoQ during the same period.
  • The company's operating profit declined by 46.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.4% in 1QFY20 as against 19.9% in 4QFY19.
  • Net profit for the quarter declined by 70.7% QoQ, while net profit margins declined from 14.2% in 4QFY19 to 4.5% in 1QFY20.

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

PRAKASH INDUSTRIES Share Price Performance

Over the last one year,PRAKASH INDUSTRIES share price has moved down from Rs 142.0 to Rs 37.8, registering a Loss of Rs 104.2 or around 73.4%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 22,704.7 (down 0.0%). Over the last one year it has moved up from 21,960.4 to 22,704.7, a gain of 744 points (up 3.4%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 37.8, the price to earnings (P/E) ratio of PRAKASH INDUSTRIES stands at 1.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.2 times.

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