SOLAR INDUSTRIES Announces Quarterly Results (1QFY22); Net Profit Up 129.4%

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SOLAR INDUSTRIES Announces Quarterly Results (1QFY22); Net Profit Up 129.4%
Sat, 31 Jul

SOLAR INDUSTRIES has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

SOLAR INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m4,9117,9148,2524.3%68.0%
Other incomeRs m39248-67.2%-79.4%
TurnoverRs m4,9507,9388,2604.1%66.9%
ExpensesRs m3,9926,2686,5053.8%62.9%
Gross profitRs m9191,6461,7476.2%90.1%
DepreciationRs m22822525211.8%10.5%
InterestRs m123105103-2.1%-16.6%
Profit before taxRs m6071,3401,4014.6%130.7%
TaxRs m1683893920.7%134.2%
Profit after taxRs m4409501,0096.1%129.4%
Gross profit margin%18.720.821.2
Effective tax rate%27.629.128.0
Net profit margin%8.912.012.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 68.0% on a year-on-year (YoY) basis. The expenses were up by 62.9% YoY during the same period.
  • The company's operating profit increased by 90.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.2% in 1QFY22 as against 18.7% in 1QFY21.
  • Depreciation charges increased by 10.5% and finance costs declined by 16.6% YoY, respectively.
  • Other income declined by 79.4% YoY during the quarter.
  • Net profit for the quarter increased by 129.4% YoY. Net profit margins during the quarter increased from 8.9% in 1QFY21 to 12.2% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.8% QoQ during the same period.
  • The company's operating profit increased by 6.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.2% in 1QFY22 as against 20.8% in 4QFY21.
  • Net profit for the quarter increased by 6.1% QoQ, while net profit margins increased from 12.0% in 4QFY21 to 12.2% in 1QFY22.

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

Find Out: How to Create Massive Gains from Govt's Mega 2023 Plan?

SOLAR INDUSTRIES Share Price Performance

Over the last one year, SOLAR INDUSTRIES share price has moved up from Rs 1,015.0 to Rs 1,703.5, registering a Gain of Rs 688.5 or around 67.8%.

Overall, the S&P BSE SENSEX is up 38.1% over the year.

Current Valuations

At the current price of Rs 1,703.5, the price to earnings (P/E) ratio of SOLAR INDUSTRIES stands at 44.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 11.2 times.

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