S.P. APPARELS Announces Quarterly Results (1QFY20); Net Profit Down 41.6%

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S.P. APPARELS Announces Quarterly Results (1QFY20); Net Profit Down 41.6%
Wed, 21 Aug

S.P. APPARELS has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

S.P. APPARELS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m1,9082,2222,176-2.1%14.0%
Other incomeRs m6881925.2%1227.0%
TurnoverRs m1,9142,2302,2571.2%17.9%
ExpensesRs m1,6241,8922,0287.2%24.9%
Gross profitRs m284330149-55.0%-47.7%
DepreciationRs m53556415.8%20.2%
InterestRs m38-165749.6%
Profit before taxRs m199299109-63.5%-45.3%
TaxRs m7410836-66.9%-51.6%
Profit after taxRs m12619173-61.6%-41.6%
Gross profit margin%14.914.96.8
Effective tax rate%37.036.132.8
Net profit margin%6.68.63.2
* 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 14.0% on a year-on-year (YoY) basis. The expenses were up by 24.9% YoY during the same period.
  • The company's operating profit declined by 47.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.8% in 1QFY20 as against 14.9% in 1QFY19.
  • Depreciation charges increased by 20.2% and finance costs increased by 49.6% YoY, respectively.
  • Other income increased by 1227.0% YoY during the quarter.
  • Net profit for the quarter declined by 41.6% YoY. Net profit margins during the quarter declined from 6.6% in 1QFY19 to 3.2% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.2% QoQ during the same period.
  • The company's operating profit declined by 55.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.8% in 1QFY20 as against 14.9% in 4QFY19.
  • Net profit for the quarter declined by 61.6% QoQ, while net profit margins declined from 8.6% in 4QFY19 to 3.2% in 1QFY20.

To see how S.P. APPARELS has performed over the last eight quarters,please visit here.

S.P. APPARELS Share Price Performance

Over the last one year,S.P. APPARELS share price has moved down from Rs 332.1 to Rs 190.1, registering a Loss of Rs 142.1 or around 42.8%.

Overall, the S&P BSE SENSEX is down 2.4% over the year.

Current Valuations

At the current price of Rs 190.1, the price to earnings (P/E) ratio of S.P. APPARELS stands at 7.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.

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