SAIL Announces Quarterly Results (1QFY20); Net Profit Down 87.3%

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SAIL Announces Quarterly Results (1QFY20); Net Profit Down 87.3%
Tue, 13 Aug

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

SAIL Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m159,072185,063148,200-19.9%-6.8%
Other incomeRs m9782,4611,828-25.7%87.0%
TurnoverRs m160,050187,524150,029-20.0%-6.3%
ExpensesRs m133,308162,918132,381-18.7%-0.7%
Gross profitRs m22,99121,59915,819-26.8%-31.2%
DepreciationRs m8,1368,9038,725-2.0%7.2%
InterestRs m7,5548,0347,884-1.9%4.4%
Profit before taxRs m8,2787,1231,039-85.4%-87.4%
TaxRs m2,8742,439351-85.6%-87.8%
Profit after taxRs m5,4044,684688-85.3%-87.3%
Gross profit margin%14.511.710.7
Effective tax rate%34.734.233.8
Net profit margin%3.42.50.5
* 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 6.8% on a year-on-year (YoY) basis. The expenses were down by 0.7% YoY during the same period.
  • The company's operating profit declined by 31.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.7% in 1QFY20 as against 14.5% in 1QFY19.
  • Depreciation charges increased by 7.2% and finance costs increased by 4.4% YoY, respectively.
  • Other income increased by 87.0% YoY during the quarter.
  • Net profit for the quarter declined by 87.3% YoY. Net profit margins during the quarter declined from 3.4% in 1QFY19 to 0.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 19.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 18.7% QoQ during the same period.
  • The company's operating profit declined by 26.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.7% in 1QFY20 as against 11.7% in 4QFY19.
  • Net profit for the quarter declined by 85.3% QoQ, while net profit margins declined from 2.5% in 4QFY19 to 0.5% in 1QFY20.

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 down from Rs 77.0 to Rs 38.3, registering a Loss of Rs 38.7 or around 50.3%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 8,883.3 (down 0.2%). Over the last one year it has moved down from 12,915.6 to 8,883.3, a gain of 4,032 points (down 31.2%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 38.3, the price to earnings (P/E) ratio of SAIL stands at 9.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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