SOLAR INDUSTRIES Announces Quarterly Results (3QFY21); Net Profit Up 25.2%

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SOLAR INDUSTRIES Announces Quarterly Results (3QFY21); Net Profit Up 25.2%
Mon, 1 Feb

SOLAR INDUSTRIES has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

SOLAR INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m5,6115,8736,45910.0%15.1%
Other incomeRs m9419132607.5%40.6%
TurnoverRs m5,7055,8916,59111.9%15.5%
ExpensesRs m4,4784,6145,13611.3%14.7%
Gross profitRs m1,1331,2591,3225.1%16.7%
DepreciationRs m2202392442.1%10.6%
InterestRs m141117109-6.3%-22.5%
Profit before taxRs m8669221,10219.5%27.2%
TaxRs m21624628716.8%33.4%
Profit after taxRs m65167681420.4%25.2%
Gross profit margin%20.221.420.5
Effective tax rate%24.926.726.1
Net profit margin%11.411.512.4
* 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 grew 15.1% on a year-on-year (YoY) basis. The expenses were up by 14.7% YoY during the same period.
  • The company's operating profit increased by 16.7% YoY during the quarter. Consequently, operating profit margins remained same and stood at 20.5% in 3QFY21.
  • Depreciation charges increased by 10.6% and finance costs declined by 22.5% YoY, respectively.
  • Other income increased by 40.6% YoY during the quarter.
  • Net profit for the quarter increased by 25.2% YoY. Net profit margins during the quarter increased from 11.4% in 3QFY20 to 12.4% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 10.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 11.3% QoQ during the same period.
  • The company's operating profit increased by 5.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.5% in 3QFY21 as against 21.4% in 2QFY20.
  • Net profit for the quarter increased by 20.4% QoQ, while net profit margins increased from 11.5% in 2QFY20 to 12.4% in 3QFY21.

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 down from Rs 1,277.7 to Rs 1,190.0, registering a Loss of Rs 87.8 or around 6.9%.

Overall, the S&P BSE SENSEX is up 18.5% over the year.

Current Valuations

At the current price of Rs 1,190.0, the price to earnings (P/E) ratio of SOLAR INDUSTRIES stands at 43.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.7 times.

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Related Views on News

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

Feb 17, 2020 | Updated on Feb 17, 2020

For the quarter ended December 2019, SOLAR INDUSTRIES has posted a net profit of Rs 650 m (down 11.7% YoY). Sales on the other hand came in at Rs 6 bn (down 14.1% YoY). Read on for a complete analysis of SOLAR INDUSTRIES's quarterly results.

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

Nov 14, 2019 | Updated on Nov 14, 2019

For the quarter ended September 2019, SOLAR INDUSTRIES has posted a net profit of Rs 866 m (up 57.5% YoY). Sales on the other hand came in at Rs 5 bn (down 2.7% YoY). Read on for a complete analysis of SOLAR INDUSTRIES's quarterly results.

SOLAR INDUSTRIES 2018-19 Annual Report Analysis (Annual Result Update)

Sep 30, 2019 | Updated on Sep 30, 2019

Here's an analysis of the annual report of SOLAR INDUSTRIES for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of SOLAR INDUSTRIES. Also includes updates on the valuation of SOLAR INDUSTRIES.

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