SUNDRAM FASTENERS Announces Quarterly Results (2QFY19); Net Profit Up 21.9%

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SUNDRAM FASTENERS Announces Quarterly Results (2QFY19); Net Profit Up 21.9%
Tue, 6 Nov

SUNDRAM FASTENERS has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

SUNDRAM FASTENERS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m8,1379,71010,0163.2%23.1%
Other incomeRs m6015396-37.4%60.2%
TurnoverRs m8,1979,86310,1122.5%23.4%
ExpensesRs m6,6027,9448,1262.3%23.1%
Gross profitRs m1,5351,7661,8907.0%23.1%
DepreciationRs m2382572652.8%11.1%
InterestRs m135127104-18.6%-23.2%
Profit before taxRs m1,2221,5341,6185.4%32.4%
TaxRs m3184735169.1%62.4%
Profit after taxRs m9041,0621,1023.8%21.9%
Gross profit margin%18.918.218.9
Effective tax rate%26.030.831.9
Net profit margin%11.010.810.9
* 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 23.1% on a year-on-year (YoY) basis. The expenses were up by 23.1% YoY during the same period.
  • The company's operating profit increased by 23.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 18.9% in 2QFY19.
  • Depreciation charges increased by 11.1% and finance costs declined by 23.2% YoY, respectively.
  • Other income increased by 60.2% YoY during the quarter.
  • Net profit for the quarter increased by 21.9% YoY. Net profit margins during the quarter declined from 11.0% in 2QFY18 to 10.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.3% QoQ during the same period.
  • The company's operating profit increased by 7.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.9% in 2QFY19 as against 18.2% in 1QFY18.
  • Net profit for the quarter increased by 3.8% QoQ, while net profit margins increased from 10.8% in 1QFY18 to 10.9% in 2QFY19.

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 up from Rs 494.6 to Rs 532.2, registering a Gain of Rs 37.7 or around 7.6%.

Overall, the S&P BSE SENSEX is up 3.7% over the year.

Current Valuations

At the current price of Rs 532.2, the price to earnings (P/E) ratio of SUNDRAM FASTENERS stands at 27.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.3 times.

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