SOLAR INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Up 13.9%

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SOLAR INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Up 13.9%
Tue, 6 Nov

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

SOLAR INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m4,0846,1475,209-15.3%27.5%
Other incomeRs m337738-50.9%15.7%
TurnoverRs m4,1176,2245,246-15.7%27.4%
ExpensesRs m3,2124,8654,136-15.0%28.8%
Gross profitRs m8721,2821,073-16.3%23.0%
DepreciationRs m1281401518.4%18.7%
InterestRs m791191276.4%61.3%
Profit before taxRs m6991,100832-24.3%19.2%
TaxRs m216371283-23.8%30.8%
Profit after taxRs m483729550-24.6%13.9%
Gross profit margin%21.420.920.6
Effective tax rate%30.933.734.0
Net profit margin%11.711.710.5
* 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 grew 27.5% on a year-on-year (YoY) basis. The expenses were up by 28.8% YoY during the same period.
  • The company's operating profit increased by 23.0% YoY during the quarter. Consequently, operating profit margins remained same and stood at 20.6% in 2QFY19.
  • Depreciation charges increased by 18.7% and finance costs increased by 61.3% YoY, respectively.
  • Other income increased by 15.7% YoY during the quarter.
  • Net profit for the quarter increased by 13.9% YoY. Net profit margins during the quarter declined from 11.7% in 2QFY18 to 10.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 15.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 15.0% QoQ during the same period.
  • The company's operating profit declined by 16.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.6% in 2QFY19 as against 20.9% in 1QFY18.
  • Net profit for the quarter declined by 24.6% QoQ, while net profit margins declined from 11.7% in 1QFY18 to 10.5% in 2QFY19.

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 up from Rs 1,060.3 to Rs 1,011.0, registering a Loss of Rs 49.3 or around 4.6%.

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 1,011.0, the price to earnings (P/E) ratio of SOLAR INDUSTRIES stands at 36.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.4 times.

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