SHALIMAR PAINTS Announces Quarterly Results (3QFY19); Net Profit Down 36.8%

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SHALIMAR PAINTS Announces Quarterly Results (3QFY19); Net Profit Down 36.8%
Fri, 15 Feb

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

SHALIMAR PAINTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m6637177494.4%13.1%
Other incomeRs m54410.3%-8.5%
TurnoverRs m6677217544.5%12.9%
ExpensesRs m7497848275.6%10.5%
Gross profitRs m-86-66-119
DepreciationRs m1921210.0%11.7%
InterestRs m716559-9.1%-16.5%
Profit before taxRs m-171-148-195
TaxRs m-73-48-61
Profit after taxRs m-98-101-135
Gross profit margin%-13.0-9.2-15.9
Effective tax rate%42.632.231.1
Net profit margin%-14.7-13.9-17.9
* 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 13.1% on a year-on-year (YoY) basis. The expenses were up by 10.5% YoY during the same period.
  • The company's operating profit increased by 38.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.9% in 3QFY19 as against 13.0% in 3QFY18.
  • Depreciation charges increased by 11.7% and finance costs declined by 16.5% YoY, respectively.
  • Other income declined by 8.5% YoY during the quarter.
  • Net profit for the quarter declined by 36.8% YoY. Net profit margins during the quarter declined from -14.7% in 3QFY18 to -17.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.6% QoQ during the same period.
  • The company's operating profit declined by 80.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.9% in 3QFY19 as against 9.2% in 2QFY18.
  • Net profit for the quarter declined by 33.8% QoQ, while net profit margins declined from -14.0% in 2QFY18 to -17.9% in 3QFY19.

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 180.0 to Rs 58.9, registering a Loss of Rs 121.2 or around 67.3%.

Overall, the S&P BSE SENSEX is up 4.5% over the year.

Current Valuations

At the current price of Rs 58.9, the price to book value (P/BV) ratio of SHALIMAR PAINTS stands at 1.5 times.

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For the quarter ended June 2019, SHALIMAR PAINTS has posted a net profit of Rs 53 m (up 64.0% YoY). Sales on the other hand came in at Rs 851 m (up 65.3% YoY). Read on for a complete analysis of SHALIMAR PAINTS's quarterly results.

SHALIMAR PAINTS Announces Quarterly Results (4QFY19); Net Profit Down 169.3% (Quarterly Result Update)

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