SOLAR INDUSTRIES Announces Quarterly Results (1QFY20); Net Profit Up 1.2%

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SOLAR INDUSTRIES Announces Quarterly Results (1QFY20); Net Profit Up 1.2%
Wed, 31 Jul

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

SOLAR INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m6,1476,7306,200-7.9%0.9%
Other incomeRs m772657120.4%-25.2%
TurnoverRs m6,2246,7566,258-7.4%0.5%
ExpensesRs m4,8655,3074,955-6.6%1.8%
Gross profitRs m1,2821,3621,246-8.6%-2.9%
DepreciationRs m14014819531.6%39.7%
InterestRs m11910612113.7%1.4%
Profit before taxRs m1,1001,134987-13.0%-10.3%
TaxRs m371382249-34.9%-33.0%
Profit after taxRs m729752738-1.9%1.2%
Gross profit margin%20.920.220.1
Effective tax rate%33.733.625.2
Net profit margin%11.711.111.8
* 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 grew 0.9% on a year-on-year (YoY) basis. The expenses were up by 1.8% YoY during the same period.
  • The company's operating profit declined by 2.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.1% in 1QFY20 as against 20.9% in 1QFY19.
  • Depreciation charges increased by 39.7% and finance costs increased by 1.4% YoY, respectively.
  • Other income declined by 25.2% YoY during the quarter.
  • Net profit for the quarter increased by 1.2% YoY. Net profit margins during the quarter increased from 11.7% in 1QFY19 to 11.8% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.6% QoQ during the same period.
  • The company's operating profit declined by 8.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.1% in 1QFY20 as against 20.2% in 4QFY19.
  • Net profit for the quarter declined by 1.9% QoQ, while net profit margins increased from 11.1% in 4QFY19 to 11.8% in 1QFY20.

To see how SOLAR INDUSTRIES has performed over the last eight quarters,please visit here.

SOLAR INDUSTRIES Share Price Performance

Over the last one year,SOLAR INDUSTRIES share price has moved down from Rs 1,190.7 to Rs 1,132.2, registering a Loss of Rs 58.5 or around 4.9%.

Overall, the S&P BSE SENSEX is down 0.7% over the year.

Current Valuations

At the current price of Rs 1,132.2, the price to earnings (P/E) ratio of SOLAR INDUSTRIES stands at 36.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.5 times.

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