SHANTHI GEARS Announces Quarterly Results (2QFY20); Net Profit Down 7.1%

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SHANTHI GEARS Announces Quarterly Results (2QFY20); Net Profit Down 7.1%
Tue, 29 Oct

SHANTHI GEARS has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

SHANTHI GEARS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m594718709-1.2%19.4%
Other incomeRs m35131946.9%-45.7%
TurnoverRs m629730728-0.3%15.8%
ExpensesRs m4865845880.7%20.9%
Gross profitRs m108134122-9.3%12.4%
DepreciationRs m2921213.4%-24.9%
InterestRs m0000.0%0.0%
Profit before taxRs m114126119-5.7%4.1%
TaxRs m24323511.7%45.9%
Profit after taxRs m909584-11.5%-7.1%
Gross profit margin%18.218.717.1
Effective tax rate%21.225.129.7
Net profit margin%14.312.911.5
* 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 19.4% on a year-on-year (YoY) basis. The expenses were up by 20.9% YoY during the same period.
  • The company's operating profit increased by 12.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.1% in 2QFY20 as against 18.2% in 2QFY19.
  • Depreciation charges declined by 24.9% and finance costs increased by 0.0% YoY, respectively.
  • Other income declined by 45.7% YoY during the quarter.
  • Net profit for the quarter declined by 7.1% YoY. Net profit margins during the quarter declined from 14.3% in 2QFY19 to 11.5% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.7% QoQ during the same period.
  • The company's operating profit declined by 9.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.1% in 2QFY20 as against 18.7% in 1QFY19.
  • Net profit for the quarter declined by 11.5% QoQ, while net profit margins declined from 12.9% in 1QFY19 to 11.5% in 2QFY20.

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

SHANTHI GEARS Share Price Performance

Over the last one year,SHANTHI GEARS share price has moved down from Rs 114.1 to Rs 97.0, registering a Loss of Rs 17.1 or around 15.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,488.0 (up 0.6%). Over the last one year it has moved up from 17,009.8 to 18,488.0, a gain of 1,478 points (up 8.7%).

Overall, the S&P BSE SENSEX is up 16.0% over the year.

Current Valuations

At the current price of Rs 97.0, the price to earnings (P/E) ratio of SHANTHI GEARS stands at 23.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.6 times.

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For the quarter ended June 2019, SHANTHI GEARS has posted a net profit of Rs 94 m (up 11.2% YoY). Sales on the other hand came in at Rs 718 m (up 15.8% YoY). Read on for a complete analysis of SHANTHI GEARS's quarterly results.

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