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SKF INDIA Announces Quarterly Results (4QFY19); Net Profit Up 14.9%

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SKF INDIA Announces Quarterly Results (4QFY19); Net Profit Up 14.9%
Fri, 17 May

SKF INDIA has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

SKF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m7,0367,6777,484-2.5%6.4%
Other incomeRs m188338292-13.8%55.0%
TurnoverRs m7,2258,0157,776-3.0%7.6%
ExpensesRs m5,9756,4606,375-1.3%6.7%
Gross profitRs m1,0611,2161,110-8.8%4.6%
DepreciationRs m1151151160.6%0.3%
InterestRs m172118-12.1%7.1%
Profit before taxRs m1,1171,4191,268-10.7%13.5%
TaxRs m402535446-16.6%11.0%
Profit after taxRs m716885822-7.1%14.9%
Gross profit margin%15.115.814.8
Effective tax rate%35.937.735.2
Net profit margin%9.911.010.6
* 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 6.4% on a year-on-year (YoY) basis. The expenses were up by 6.7% YoY during the same period.
  • The company's operating profit increased by 4.6% YoY during the quarter. Consequently, operating profit margins remained same and stood at 14.8% in 4QFY19.
  • Depreciation charges increased by 0.3% and finance costs increased by 7.1% YoY, respectively.
  • Other income increased by 55.0% YoY during the quarter.
  • Net profit for the quarter increased by 14.9% YoY. Net profit margins during the quarter increased from 9.9% in 4QFY18 to 10.6% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.3% QoQ during the same period.
  • The company's operating profit declined by 8.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.8% in 4QFY19 as against 15.8% in 3QFY18.
  • Net profit for the quarter declined by 7.1% QoQ, while net profit margins declined from 11.0% in 3QFY18 to 10.6% in 4QFY19.

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

SKF INDIA Share Price Performance

Over the last one year, SKF INDIA share price has moved up from Rs 1,769.4 to Rs 1,814.1, registering a Gain of Rs 44.7 or around 2.5%.

Overall, the S&P BSE SENSEX is up 6.2% over the year.

Current Valuations

At the current price of Rs 1,814.1, the price to earnings (P/E) ratio of SKF INDIA stands at 28.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.2 times.

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