SUNDRAM FASTENERS Announces Quarterly Results (4QFY20); Net Profit Down 57.3%

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SUNDRAM FASTENERS Announces Quarterly Results (4QFY20); Net Profit Down 57.3%
Fri, 12 Jun

SUNDRAM FASTENERS has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

SUNDRAM FASTENERS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m10,0836,9287,0161.3%-30.4%
Other incomeRs m7584216156.7%187.4%
TurnoverRs m10,1587,0127,2323.1%-28.8%
ExpensesRs m8,3215,7676,0184.4%-27.7%
Gross profitRs m1,7631,161884-23.9%-49.8%
DepreciationRs m2993433584.4%19.8%
InterestRs m809211120.7%38.8%
Profit before taxRs m1,460811632-22.1%-56.7%
TaxRs m364-219164-54.9%
Profit after taxRs m1,0951,031468-54.6%-57.3%
Gross profit margin%17.516.812.6
Effective tax rate%24.9-27.026.0
Net profit margin%10.814.76.5
* 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 fell 30.4% on a year-on-year (YoY) basis. The expenses were down by 27.7% YoY during the same period.
  • The company's operating profit declined by 49.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.6% in 4QFY20 as against 17.5% in 4QFY19.
  • Depreciation charges increased by 19.8% and finance costs increased by 38.8% YoY, respectively.
  • Other income increased by 187.4% YoY during the quarter.
  • Net profit for the quarter declined by 57.3% YoY. Net profit margins during the quarter declined from 10.8% in 4QFY19 to 6.5% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.4% QoQ during the same period.
  • The company's operating profit declined by 23.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.6% in 4QFY20 as against 16.8% in 3QFY19.
  • Net profit for the quarter declined by 54.6% QoQ, while net profit margins declined from 14.7% in 3QFY19 to 6.5% in 4QFY20.

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 531.9 to Rs 305.0, registering a Loss of Rs 227.0 or around 42.7%.

Overall, the S&P BSE SENSEX is down 18.3% over the year.

Current Valuations

At the current price of Rs 305.0, the price to earnings (P/E) ratio of SUNDRAM FASTENERS stands at 20.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.4 times.

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