RAYMOND Announces Quarterly Results (4QFY19); Net Profit Up 32.8%

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RAYMOND Announces Quarterly Results (4QFY19); Net Profit Up 32.8%
Thu, 2 May

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

RAYMOND Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m16,29816,75218,0878.0%11.0%
Other incomeRs m253305284-6.9%12.3%
TurnoverRs m16,55117,05718,3717.7%11.0%
ExpensesRs m14,79215,20616,4188.0%11.0%
Gross profitRs m1,5071,5341,6698.8%10.8%
DepreciationRs m5094805177.6%1.6%
InterestRs m489704494-29.9%0.8%
Profit before taxRs m76265594344.1%23.8%
TaxRs m24120425223.6%4.5%
Profit after taxRs m52145169153.4%32.8%
Gross profit margin%9.29.29.2
Effective tax rate%31.631.126.7
Net profit margin%3.12.63.8
* 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 11.0% on a year-on-year (YoY) basis. The expenses were up by 11.0% YoY during the same period.
  • The company's operating profit increased by 10.8% YoY during the quarter. Consequently, operating profit margins remained same and stood at 9.2% in 4QFY19.
  • Depreciation charges increased by 1.6% and finance costs increased by 0.8% YoY, respectively.
  • Other income increased by 12.3% YoY during the quarter.
  • Net profit for the quarter increased by 32.8% YoY. Net profit margins during the quarter increased from 3.1% in 4QFY18 to 3.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.0% QoQ during the same period.
  • The company's operating profit increased by 8.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.2% in 4QFY19 as against 9.2% in 3QFY18.
  • Net profit for the quarter increased by 53.4% QoQ, while net profit margins increased from 2.6% in 3QFY18 to 3.8% in 4QFY19.

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

RAYMOND Share Price Performance

Over the last one year, RAYMOND share price has moved up from Rs 1,121.1 to Rs 741.2, registering a Loss of Rs 379.9 or around 33.9%.

Overall, the S&P BSE SENSEX is up 10.8% over the year.

Current Valuations

At the current price of Rs 741.2, the price to earnings (P/E) ratio of RAYMOND stands at 24.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.5 times.

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For the quarter ended December 2019, RAYMOND has posted a net profit of Rs 376 m (down 16.7% YoY). Sales on the other hand came in at Rs 19 bn (up 12.6% YoY). Read on for a complete analysis of RAYMOND's quarterly results.

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