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SAIL Announces Quarterly Results (1QFY19); Net Profit Down 167.4%

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SAIL Announces Quarterly Results (1QFY19); Net Profit Down 167.4%
Mon, 6 Aug

SAIL has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

SAIL Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m115,796170,378159,072-6.6%37.4%
Other incomeRs m4862,270978-56.9%101.0%
TurnoverRs m116,282172,649160,050-7.3%37.6%
ExpensesRs m116,635146,906133,308-9.3%14.3%
Gross profitRs m-53327,24722,991-15.6%
DepreciationRs m6,9478,4858,136-4.1%17.1%
InterestRs m5,8799,1697,554-17.6%28.5%
Profit before taxRs m-12,87211,8648,278-30.2%
TaxRs m-4,8593,7082,874-22.5%
Profit after taxRs m-8,0148,1565,404-33.7%
Gross profit margin%-0.516.014.5
Effective tax rate%37.731.334.7
Net profit margin%-6.94.73.4
* 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 37.4% on a year-on-year (YoY) basis. The expenses were up by 14.3% YoY during the same period.
  • The company's operating profit declined by 4410.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.5% in 1QFY19 as against 0.5% in 1QFY18.
  • Depreciation charges and finance costs increased by 17.1% YoY and 28.5% YoY, respectively.
  • Other income increased by 101.0% YoY during the quarter.
  • Net profit for the quarter declined by 167.4% YoY. Net profit margins during the quarter increased from -6.9% in 1QFY18 to 3.4% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 9.3% QoQ during the same period.
  • The company's operating profit declined by 15.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.5% in 1QFY19 as against 16.0% in 4QFY18.
  • Net profit for the quarter declined by 33.7% QoQ, while net profit margins declined from 4.7% in 4QFY18 to 3.4% in 1QFY19.

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

SAIL Share Price Performance

Over the last one year, SAIL share price has moved up from Rs 61.6 to Rs 79.2, registering a Gain of Rs 17.7 or around 28.7%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 12,937.2 (up 1.0%). Over the last one year it has moved up from 12,603.4 to 12,937.2, a gain of 334 points (up 2.6%).

Overall, the S&P BSE SENSEX is up 0.5% over the year.

Current Valuations

At the current price of Rs 79.2, the price to earnings (P/E) ratio of SAIL stands at 38.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.9 times.

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