SUNDRAM FASTENERS Announces Quarterly Results (2QFY20); Net Profit Down 35.5%

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SUNDRAM FASTENERS Announces Quarterly Results (2QFY20); Net Profit Down 35.5%
Mon, 11 Nov

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

SUNDRAM FASTENERS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m10,0169,4547,668-18.9%-23.4%
Other incomeRs m961174575.2%-23.2%
TurnoverRs m10,1129,4647,742-18.2%-23.4%
ExpensesRs m8,1267,6966,288-18.3%-22.6%
Gross profitRs m1,8901,7581,380-21.5%-27.0%
DepreciationRs m2653273383.4%27.8%
InterestRs m1049614046.3%35.7%
Profit before taxRs m1,6181,346975-27.5%-39.7%
TaxRs m516414264-36.2%-48.7%
Profit after taxRs m1,102931711-23.7%-35.5%
Gross profit margin%18.918.618.0
Effective tax rate%31.930.827.1
Net profit margin%10.99.89.2
* 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 23.4% on a year-on-year (YoY) basis. The expenses were down by 22.6% YoY during the same period.
  • The company's operating profit declined by 27.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.0% in 2QFY20 as against 18.9% in 2QFY19.
  • Depreciation charges increased by 27.8% and finance costs increased by 35.7% YoY, respectively.
  • Other income declined by 23.2% YoY during the quarter.
  • Net profit for the quarter declined by 35.5% YoY. Net profit margins during the quarter declined from 10.9% in 2QFY19 to 9.2% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 18.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 18.3% QoQ during the same period.
  • The company's operating profit declined by 21.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.0% in 2QFY20 as against 18.6% in 1QFY19.
  • Net profit for the quarter declined by 23.7% QoQ, while net profit margins declined from 9.8% in 1QFY19 to 9.2% in 2QFY20.

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

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SUNDRAM FASTENERS Share Price Performance

Over the last one year,SUNDRAM FASTENERS share price has moved down from Rs 543.7 to Rs 463.7, registering a Loss of Rs 80.0 or around 14.7%.

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 463.7, the price to earnings (P/E) ratio of SUNDRAM FASTENERS stands at 25.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.2 times.

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