SUNDRAM FASTENERS Announces Quarterly Results (1QFY20); Net Profit Down 12.3%

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SUNDRAM FASTENERS Announces Quarterly Results (1QFY20); Net Profit Down 12.3%
Thu, 8 Aug

SUNDRAM FASTENERS has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

SUNDRAM FASTENERS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m9,71010,0839,454-6.2%-2.6%
Other incomeRs m1537511-85.5%-92.9%
TurnoverRs m9,86310,1589,464-6.8%-4.0%
ExpensesRs m7,9448,3217,696-7.5%-3.1%
Gross profitRs m1,7661,7631,758-0.3%-0.5%
DepreciationRs m2572993279.5%27.0%
InterestRs m127809620.5%-24.5%
Profit before taxRs m1,5341,4601,346-7.8%-12.3%
TaxRs m47336441413.8%-12.3%
Profit after taxRs m1,0621,095931-15.0%-12.3%
Gross profit margin%18.217.518.6
Effective tax rate%30.824.930.8
Net profit margin%10.810.89.8
* 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 2.6% on a year-on-year (YoY) basis. The expenses were down by 3.1% YoY during the same period.
  • The company's operating profit declined by 0.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.6% in 1QFY20 as against 18.2% in 1QFY19.
  • Depreciation charges increased by 27.0% and finance costs declined by 24.5% YoY, respectively.
  • Other income declined by 92.9% YoY during the quarter.
  • Net profit for the quarter declined by 12.3% YoY. Net profit margins during the quarter declined from 10.8% in 1QFY19 to 9.8% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.5% QoQ during the same period.
  • The company's operating profit increased by 0.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.6% in 1QFY20 as against 17.5% in 4QFY19.
  • Net profit for the quarter declined by 15.0% QoQ, while net profit margins declined from 10.8% in 4QFY19 to 9.8% in 1QFY20.

To see how SUNDRAM FASTENERS has performed over the last eight quarters,please visit here.

SUNDRAM FASTENERS Share Price Performance

Over the last one year,SUNDRAM FASTENERS share price has moved down from Rs 641.7 to Rs 427.0, registering a Loss of Rs 214.7 or around 33.5%.

Overall, the S&P BSE SENSEX is down 2.3% over the year.

Current Valuations

At the current price of Rs 427.0, the price to earnings (P/E) ratio of SUNDRAM FASTENERS stands at 21.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.9 times.

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