SAIL Announces Quarterly Results (4QFY19); Net Profit Down 42.6%

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SAIL Announces Quarterly Results (4QFY19); Net Profit Down 42.6%
Mon, 3 Jun

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

SAIL Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m170,378158,358185,06316.9%8.6%
Other incomeRs m2,2707472,461229.6%8.4%
TurnoverRs m172,649159,105187,52417.9%8.6%
ExpensesRs m146,906132,576162,91822.9%10.9%
Gross profitRs m27,24725,54921,599-15.5%-20.7%
DepreciationRs m8,4858,5478,9034.2%4.9%
InterestRs m9,1698,2518,034-2.6%-12.4%
Profit before taxRs m11,8649,4977,123-25.0%-40.0%
TaxRs m3,7083,3342,439-26.8%-34.2%
Profit after taxRs m8,1566,1634,684-24.0%-42.6%
Gross profit margin%16.016.111.7
Effective tax rate%31.335.134.2
Net profit margin%4.73.92.5
* 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 grew 8.6% on a year-on-year (YoY) basis. The expenses were up by 10.9% YoY during the same period.
  • The company's operating profit declined by 20.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.7% in 4QFY19 as against 16.0% in 4QFY18.
  • Depreciation charges increased by 4.9% and finance costs declined by 12.4% YoY, respectively.
  • Other income increased by 8.4% YoY during the quarter.
  • Net profit for the quarter declined by 42.6% YoY. Net profit margins during the quarter declined from 4.7% in 4QFY18 to 2.5% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 16.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 22.9% QoQ during the same period.
  • The company's operating profit declined by 15.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.7% in 4QFY19 as against 16.1% in 3QFY18.
  • Net profit for the quarter declined by 24.0% QoQ, while net profit margins declined from 3.9% in 3QFY18 to 2.5% in 4QFY19.

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 72.1 to Rs 50.4, registering a Loss of Rs 21.7 or around 30.1%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 10,833.6 (up 0.7%). Over the last one year it has moved down from 13,506.0 to 10,833.6, a gain of 2,672 points (down 19.8%).

Overall, the S&P BSE SENSEX is up 13.1% over the year.

Current Valuations

At the current price of Rs 50.4, the price to earnings (P/E) ratio of SAIL stands at 9.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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