SKF INDIA Announces Quarterly Results (3QFY21); Net Profit Up 150.3%

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SKF INDIA Announces Quarterly Results (3QFY21); Net Profit Up 150.3%
Wed, 10 Feb

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

SKF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m7,0737,0328,18716.4%15.7%
Other incomeRs m17178859.5%-50.2%
TurnoverRs m7,2457,1108,27216.3%14.2%
ExpensesRs m6,3486,1146,3834.4%0.6%
Gross profitRs m7269181,80496.5%148.6%
DepreciationRs m1451451535.0%5.5%
InterestRs m2580-98.8%-99.6%
Profit before taxRs m7278431,737106.0%138.8%
TaxRs m215193455136.4%111.5%
Profit after taxRs m5126501,28197.0%150.3%
Gross profit margin%10.313.122.0
Effective tax rate%29.622.926.2
Net profit margin%7.19.115.5
* 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 15.7% on a year-on-year (YoY) basis. The expenses were up by 0.6% YoY during the same period.
  • The company's operating profit increased by 148.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.0% in 3QFY21 as against 10.3% in 3QFY20.
  • Depreciation charges increased by 5.5% and finance costs declined by 99.6% YoY, respectively.
  • Other income declined by 50.2% YoY during the quarter.
  • Net profit for the quarter increased by 150.3% YoY. Net profit margins during the quarter increased from 7.1% in 3QFY20 to 15.5% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 16.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.4% QoQ during the same period.
  • The company's operating profit increased by 96.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.0% in 3QFY21 as against 13.1% in 2QFY20.
  • Net profit for the quarter increased by 97.0% QoQ, while net profit margins increased from 9.1% in 2QFY20 to 15.5% in 3QFY21.

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

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SKF INDIA Share Price Performance

Over the last one year, SKF INDIA share price has moved up from Rs 2,049.3 to Rs 2,347.6, registering a Gain of Rs 298.3 or around 14.6%.

Overall, the S&P BSE SENSEX is up 25.0% over the year.

Current Valuations

At the current price of Rs 2,347.6, the price to earnings (P/E) ratio of SKF INDIA stands at 46.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.3 times.

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Related Views on News

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

Oct 30, 2020 | Updated on Oct 30, 2020

For the quarter ended September 2020, SKF INDIA has posted a net profit of Rs 650 m (down 23.2% YoY). Sales on the other hand came in at Rs 7 bn (down 5.9% YoY). Read on for a complete analysis of SKF INDIA's quarterly results.

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 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.

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