SOLAR INDUSTRIES Announces Quarterly Results (3QFY20); Net Profit Down 11.7%

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SOLAR INDUSTRIES Announces Quarterly Results (3QFY20); Net Profit Down 11.7%
Mon, 17 Feb

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

SOLAR INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m6,5305,0665,61110.8%-14.1%
Other incomeRs m34619455.3%177.6%
TurnoverRs m6,5645,1265,70511.3%-13.1%
ExpensesRs m5,3163,9984,47812.0%-15.8%
Gross profitRs m1,2151,0671,1336.2%-6.7%
DepreciationRs m1502092205.7%47.3%
InterestRs m146144141-2.1%-3.6%
Profit before taxRs m95277586611.7%-9.1%
TaxRs m216-91216-0.1%
Profit after taxRs m737866651-24.9%-11.7%
Gross profit margin%18.621.120.2
Effective tax rate%22.6-11.724.9
Net profit margin%11.216.911.4
* 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 14.1% on a year-on-year (YoY) basis. The expenses were down by 15.8% YoY during the same period.
  • The company's operating profit declined by 6.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.2% in 3QFY20 as against 18.6% in 3QFY19.
  • Depreciation charges increased by 47.3% and finance costs declined by 3.6% YoY, respectively.
  • Other income increased by 177.6% YoY during the quarter.
  • Net profit for the quarter declined by 11.7% YoY. Net profit margins during the quarter increased from 11.2% in 3QFY19 to 11.4% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 10.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.0% QoQ during the same period.
  • The company's operating profit increased by 6.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.2% in 3QFY20 as against 21.1% in 2QFY19.
  • Net profit for the quarter declined by 24.9% QoQ, while net profit margins declined from 16.9% in 2QFY19 to 11.4% in 3QFY20.

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

Get Details: First Stock to Potentially Accumulate Rs 7 Crore Long-term Wealth

SOLAR INDUSTRIES Share Price Performance

Over the last one year,SOLAR INDUSTRIES share price has moved up from Rs 957.8 to Rs 1,158.3, registering a Gain of Rs 200.5 or around 20.9%.

Overall, the S&P BSE SENSEX is up 14.4% over the year.

Current Valuations

At the current price of Rs 1,158.3, the price to earnings (P/E) ratio of SOLAR INDUSTRIES stands at 34.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.5 times.

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