SKF INDIA Announces Quarterly Results (2QFY21); Net Profit Down 23.2%

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Markets will remain closed on 26th January, 2021 on account of Republic Day.

SKF INDIA Announces Quarterly Results (2QFY21); Net Profit Down 23.2%
Fri, 30 Oct

SKF INDIA has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

SKF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m7,4723,0127,032133.4%-5.9%
Other incomeRs m23215378-49.1%-66.5%
TurnoverRs m7,7043,1657,110124.6%-7.7%
ExpensesRs m6,5223,0196,114102.5%-6.3%
Gross profitRs m950-6918-3.4%
DepreciationRs m1411451450.3%2.7%
InterestRs m255860.0%-67.3%
Profit before taxRs m1,016-3843-17.1%
TaxRs m170019313.2%
Profit after taxRs m846-3650-23.2%
Gross profit margin%12.7-0.213.1
Effective tax rate%16.72.422.9
Net profit margin%11.0-0.19.1
* 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 fell 5.9% on a year-on-year (YoY) basis. The expenses were down by 6.3% YoY during the same period.
  • The company's operating profit declined by 3.4% YoY during the quarter. Consequently, operating profit margins remained same and stood at 13.1% in 2QFY21.
  • Depreciation charges increased by 2.7% and finance costs declined by 67.3% YoY, respectively.
  • Other income declined by 66.5% YoY during the quarter.
  • Net profit for the quarter declined by 23.2% YoY. Net profit margins during the quarter declined from 11.0% in 2QFY20 to 9.1% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 133.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 102.5% QoQ during the same period.
  • The company's operating profit declined by 14674.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.1% in 2QFY21 as against 0.2% in 1QFY20.
  • Net profit for the quarter increased by 20292.5% QoQ, while net profit margins increased from -0.1% in 1QFY20 to 9.1% in 2QFY21.

To see how SKF INDIA has performed over the last eight quarters,please visit here.

Know More: Which way are the markets & the mutual fund industry headed?

SKF INDIA Share Price Performance

Over the last one year, SKF INDIA share price has moved down from Rs 2,173.7 to Rs 1,489.4, registering a Loss of Rs 684.3 or around 31.5%.

Overall, the S&P BSE SENSEX is down 0.8% over the year.

Current Valuations

At the current price of Rs 1,489.4, the price to earnings (P/E) ratio of SKF INDIA stands at 41.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.6 times.

Equitymaster requests your view! Post a comment on "SKF INDIA Announces Quarterly Results (2QFY21); Net Profit Down 23.2%". Click here!

  

Related Views on News

SKF INDIA Announces Quarterly Results (4QFY20); Net Profit Down 8.3% (Quarterly Result Update)

May 8, 2020 | Updated on May 8, 2020

For the quarter ended March 2020, SKF INDIA has posted a net profit of Rs 753 m (down 8.3% YoY). Sales on the other hand came in at Rs 6 bn (down 18.5% YoY). Read on for a complete analysis of SKF INDIA's quarterly results.

SKF INDIA Announces Quarterly Results (3QFY20); Net Profit Down 42.1% (Quarterly Result Update)

Feb 7, 2020 | Updated on Feb 7, 2020

For the quarter ended December 2019, SKF INDIA has posted a net profit of Rs 512 m (down 42.1% YoY). Sales on the other hand came in at Rs 7 bn (down 7.9% YoY). Read on for a complete analysis of SKF INDIA's quarterly results.

SKF INDIA 2018-19 Annual Report Analysis (Annual Result Update)

Dec 16, 2019 | Updated on Dec 16, 2019

Here's an analysis of the annual report of SKF INDIA for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of SKF INDIA. Also includes updates on the valuation of SKF INDIA.

More Views on News

Most Popular

Time to Book Profits in Pharma Stocks(Fast Profits Daily)

Jan 15, 2021

In this video, I'll show you why it might be the right time to take money of the table in pharma stocks.

Smallcap Stocks: Your Best Bet for 2021 and Beyond(Profit Hunter)

Jan 15, 2021

The pandemic failed to thwart Richa's investing success formula for 2020.

One Chart to See Before You Sell(Fast Profits Daily)

Jan 22, 2021

In this video, I'll show you a crucial chart that you need to check before you decide to sell any stock or index.

Invest in the Multibaggers of 2021 and Beyond(Profit Hunter)

Jan 21, 2021

Our ace stock picker is ready to capitalise on a big growth opportunity.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

SKF INDIA SHARE PRICE


Jan 25, 2021 (Close)

TRACK SKF INDIA

  • Track your investment in SKF INDIA with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

SKF INDIA - SUNDRAM FASTENERS COMPARISON

COMPARE SKF INDIA WITH

MARKET STATS