RAYMOND Announces Quarterly Results (3QFY20); Net Profit Down 16.7%

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RAYMOND Announces Quarterly Results (3QFY20); Net Profit Down 16.7%
Mon, 27 Jan

RAYMOND has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

RAYMOND Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m16,75218,83218,8540.1%12.6%
Other incomeRs m305296193-34.8%-36.8%
TurnoverRs m17,05719,12819,047-0.4%11.7%
ExpensesRs m15,20616,76116,7910.2%10.4%
Gross profitRs m1,5342,0702,063-0.4%34.5%
DepreciationRs m4808608772.1%82.7%
InterestRs m704790778-1.5%10.5%
Profit before taxRs m655717600-16.3%-8.3%
TaxRs m204-10722510.3%
Profit after taxRs m451824376-54.4%-16.7%
Gross profit margin%9.211.010.9
Effective tax rate%31.1-15.037.4
Net profit margin%2.64.32.0
* 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 12.6% on a year-on-year (YoY) basis. The expenses were up by 10.4% YoY during the same period.
  • The company's operating profit increased by 34.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.9% in 3QFY20 as against 9.2% in 3QFY19.
  • Depreciation charges increased by 82.7% and finance costs increased by 10.5% YoY, respectively.
  • Other income declined by 36.8% YoY during the quarter.
  • Net profit for the quarter declined by 16.7% YoY. Net profit margins during the quarter declined from 2.6% in 3QFY19 to 2.0% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.2% QoQ during the same period.
  • The company's operating profit declined by 0.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.9% in 3QFY20 as against 11.0% in 2QFY19.
  • Net profit for the quarter declined by 54.4% QoQ, while net profit margins declined from 4.3% in 2QFY19 to 2.0% in 3QFY20.

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

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RAYMOND Share Price Performance

Over the last one year,RAYMOND share price has moved down from Rs 774.7 to Rs 672.4, registering a Loss of Rs 102.3 or around 13.2%.

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

Current Valuations

At the current price of Rs 672.4, the price to earnings (P/E) ratio of RAYMOND stands at 23.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.

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