SHALIMAR PAINTS Announces Quarterly Results (2QFY19); Net Profit Down 2.7%

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SHALIMAR PAINTS Announces Quarterly Results (2QFY19); Net Profit Down 2.7%
Fri, 9 Nov

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

SHALIMAR PAINTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m70851571739.4%1.3%
Other incomeRs m324143.8%39.3%
TurnoverRs m71151672139.8%1.5%
ExpensesRs m80363678423.3%-2.4%
Gross profitRs m-95-121-66
DepreciationRs m1121211.4%92.7%
InterestRs m5862654.8%13.0%
Profit before taxRs m-160-202-148
TaxRs m-62-55-48
Profit after taxRs m-98-147-101
Gross profit margin%-13.4-23.5-9.2
Effective tax rate%38.927.232.2
Net profit margin%-13.8-28.5-13.9
* 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 1.3% on a year-on-year (YoY) basis. The expenses were down by 2.4% YoY during the same period.
  • The company's operating profit declined by 30.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.2% in 2QFY19 as against 13.4% in 2QFY18.
  • Depreciation charges increased by 92.7% and finance costs increased by 13.0% YoY, respectively.
  • Other income increased by 39.3% YoY during the quarter.
  • Net profit for the quarter declined by 2.7% YoY. Net profit margins during the quarter declined from -13.8% in 2QFY18 to -13.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 39.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 23.3% QoQ during the same period.
  • The company's operating profit increased by 45.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.2% in 2QFY19 as against 23.5% in 1QFY18.
  • Net profit for the quarter increased by 31.7% QoQ, while net profit margins increased from -28.5% in 1QFY18 to -13.9% in 2QFY19.

To see how SHALIMAR PAINTS has performed over the last eight quarters, please visit here.

SHALIMAR PAINTS Share Price Performance

Over the last one year, SHALIMAR PAINTS share price has moved up from Rs 199.7 to Rs 87.1, registering a Loss of Rs 112.7 or around 56.4%.

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 87.1, the price to book value (P/BV) ratio of SHALIMAR PAINTS stands at 2.2 times.

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Feb 18, 2020 10:13 AM

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