PRAKASH INDUSTRIES Announces Quarterly Results (4QFY19); Net Profit Down 17.0%

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PRAKASH INDUSTRIES Announces Quarterly Results (4QFY19); Net Profit Down 17.0%
Mon, 27 May

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

PRAKASH INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m9,10510,2588,847-13.8%-2.8%
Other incomeRs m653531-12.0%-52.8%
TurnoverRs m9,17010,2938,877-13.8%-3.2%
ExpensesRs m7,0668,2377,024-14.7%-0.6%
Gross profitRs m2,0382,0211,757-13.0%-13.8%
DepreciationRs m307353339-4.1%10.4%
InterestRs m255278248-10.9%-2.8%
Profit before taxRs m1,5421,4251,202-15.6%-22.1%
TaxRs m2111-61-636.8%-392.8%
Profit after taxRs m1,5211,4131,263-10.6%-17.0%
Gross profit margin%22.419.719.9
Effective tax rate%1.40.8-5.1
Net profit margin%16.613.714.2
* 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 2.8% on a year-on-year (YoY) basis. The expenses were down by 0.6% YoY during the same period.
  • The company's operating profit declined by 13.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.9% in 4QFY19 as against 22.4% in 4QFY18.
  • Depreciation charges increased by 10.4% and finance costs declined by 2.8% YoY, respectively.
  • Other income declined by 52.8% YoY during the quarter.
  • Net profit for the quarter declined by 17.0% YoY. Net profit margins during the quarter declined from 16.6% in 4QFY18 to 14.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 13.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 14.7% QoQ during the same period.
  • The company's operating profit increased by 13.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.9% in 4QFY19 as against 19.7% in 3QFY18.
  • Net profit for the quarter declined by 10.6% QoQ, while net profit margins increased from 13.7% in 3QFY18 to 14.2% in 4QFY19.

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 172.8 to Rs 74.0, registering a Loss of Rs 98.8 or around 57.2%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 24,360.7 (up 0.4%). Over the last one year it has moved up from 21,111.1 to 24,360.7, a gain of 3,250 points (up 15.4%).

Overall, the S&P BSE SENSEX is up 14.2% over the year.

Current Valuations

At the current price of Rs 74.0, the price to earnings (P/E) ratio of PRAKASH INDUSTRIES stands at 1.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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