SOLAR INDUSTRIES Announces Quarterly Results (2QFY20); Net Profit Up 57.5%

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SOLAR INDUSTRIES Announces Quarterly Results (2QFY20); Net Profit Up 57.5%
Thu, 14 Nov

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

SOLAR INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m5,2096,2005,066-18.3%-2.7%
Other incomeRs m3857615.8%61.2%
TurnoverRs m5,2466,2585,126-18.1%-2.3%
ExpensesRs m4,1364,9553,998-19.3%-3.3%
Gross profitRs m1,0731,2461,067-14.3%-0.5%
DepreciationRs m1511952096.9%37.7%
InterestRs m12712114419.3%13.7%
Profit before taxRs m832987775-21.4%-6.9%
TaxRs m283249-91-136.6%-132.2%
Profit after taxRs m55073886617.3%57.5%
Gross profit margin%20.620.121.1
Effective tax rate%34.025.2-11.7
Net profit margin%10.511.816.9
* 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 2.7% on a year-on-year (YoY) basis. The expenses were down by 3.3% YoY during the same period.
  • The company's operating profit declined by 0.5% YoY during the quarter. Consequently, operating profit margins remained same and stood at 21.1% in 2QFY20.
  • Depreciation charges increased by 37.7% and finance costs increased by 13.7% YoY, respectively.
  • Other income increased by 61.2% YoY during the quarter.
  • Net profit for the quarter increased by 57.5% YoY. Net profit margins during the quarter increased from 10.5% in 2QFY19 to 16.9% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 18.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 19.3% QoQ during the same period.
  • The company's operating profit declined by 14.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.1% in 2QFY20 as against 20.1% in 1QFY19.
  • Net profit for the quarter increased by 17.3% QoQ, while net profit margins increased from 11.8% in 1QFY19 to 16.9% in 2QFY20.

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

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SOLAR INDUSTRIES Share Price Performance

Over the last one year,SOLAR INDUSTRIES share price has moved up from Rs 1,024.1 to Rs 1,026.0, registering a Gain of Rs 1.9 or around 0.2%.

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

Current Valuations

At the current price of Rs 1,026.0, the price to earnings (P/E) ratio of SOLAR INDUSTRIES stands at 30.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.5 times.

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