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.

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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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