SAIL Announces Quarterly Results (2QFY19); Net Profit Up 202.7%

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SAIL Announces Quarterly Results (2QFY19); Net Profit Up 202.7%
Mon, 5 Nov

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

SAIL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m136,174159,072167,1805.1%22.8%
Other incomeRs m4869781,14316.9%135.1%
TurnoverRs m136,661160,050168,3245.2%23.2%
ExpensesRs m127,032133,308143,5307.7%13.0%
Gross profitRs m6,16722,99123,3091.4%277.9%
DepreciationRs m7,6228,1368,2611.5%8.4%
InterestRs m6,4357,5547,7112.1%19.8%
Profit before taxRs m-7,4038,2788,4802.4%
TaxRs m-2,0132,8742,9432.4%
Profit after taxRs m-5,3915,4045,5372.5%
Gross profit margin%4.514.513.9
Effective tax rate%27.234.734.7
Net profit margin%-3.93.43.3
* 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 22.8% on a year-on-year (YoY) basis. The expenses were up by 13.0% YoY during the same period.
  • The company's operating profit increased by 277.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.9% in 2QFY19 as against 4.5% in 2QFY18.
  • Depreciation charges increased by 8.4% and finance costs increased by 19.8% YoY, respectively.
  • Other income increased by 135.1% YoY during the quarter.
  • Net profit for the quarter increased by 202.7% YoY. Net profit margins during the quarter increased from -3.9% in 2QFY18 to 3.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.7% QoQ during the same period.
  • The company's operating profit declined by 1.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.9% in 2QFY19 as against 14.5% in 1QFY18.
  • Net profit for the quarter increased by 2.5% QoQ, while net profit margins declined from 3.4% in 1QFY18 to 3.3% in 2QFY19.

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 86.8 to Rs 66.4, registering a Loss of Rs 20.4 or around 23.5%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 13,078.3 (up 0.0%). Over the last one year it has moved down from 14,943.8 to 13,078.3, a gain of 1,865 points (down 12.5%).

Overall, the S&P BSE SENSEX is up 4.0% over the year.

Current Valuations

At the current price of Rs 66.4, the price to earnings (P/E) ratio of SAIL stands at 14.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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