PRAKASH INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Up 98.6%

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PRAKASH INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Up 98.6%
Mon, 5 Nov

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

PRAKASH INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m6,4799,8549,503-3.6%46.7%
Other incomeRs m55162021.3%-63.8%
TurnoverRs m6,5349,8719,523-3.5%45.7%
ExpensesRs m5,2937,4527,6032.0%43.6%
Gross profitRs m1,1872,4031,900-20.9%60.2%
DepreciationRs m3153363442.6%9.5%
InterestRs m21621226826.4%24.0%
Profit before taxRs m7111,8711,307-30.1%84.0%
TaxRs m521840-100.0%-100.0%
Profit after taxRs m6581,6871,307-22.5%98.6%
Gross profit margin%18.324.420.0
Effective tax rate%7.49.80.0
Net profit margin%10.117.113.7
* 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 46.7% on a year-on-year (YoY) basis. The expenses were up by 43.6% YoY during the same period.
  • The company's operating profit increased by 60.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.0% in 2QFY19 as against 18.3% in 2QFY18.
  • Depreciation charges increased by 9.5% and finance costs increased by 24.0% YoY, respectively.
  • Other income declined by 63.8% YoY during the quarter.
  • Net profit for the quarter increased by 98.6% YoY. Net profit margins during the quarter increased from 10.1% in 2QFY18 to 13.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.0% QoQ during the same period.
  • The company's operating profit declined by 20.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.0% in 2QFY19 as against 24.4% in 1QFY18.
  • Net profit for the quarter declined by 22.5% QoQ, while net profit margins declined from 17.1% in 1QFY18 to 13.7% in 2QFY19.

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 up from Rs 143.2 to Rs 112.9, registering a Loss of Rs 30.3 or around 21.1%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 19,627.4 (down 0.4%). Over the last one year it has moved up from 18,602.2 to 19,627.4, a gain of 1,025 points (up 5.5%).

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 112.9, the price to earnings (P/E) ratio of PRAKASH INDUSTRIES stands at 2.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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