SRF LTD Announces Quarterly Results (1QFY21); Net Profit Down 4.5%

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SRF LTD Announces Quarterly Results (1QFY21); Net Profit Down 4.5%
Tue, 25 Aug

SRF LTD has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

SRF LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m18,28418,57815,452-16.8%-15.5%
Other incomeRs m1526310159.8%-33.7%
TurnoverRs m18,43718,64215,553-16.6%-15.6%
ExpensesRs m14,63214,96511,819-21.0%-19.2%
Gross profitRs m3,6533,6133,6330.5%-0.6%
DepreciationRs m9411,0141,0402.6%10.5%
InterestRs m518466432-7.4%-16.7%
Profit before taxRs m2,3462,1962,2623.0%-3.6%
TaxRs m49525549393.5%-0.3%
Profit after taxRs m1,8511,9421,769-8.9%-4.5%
Gross profit margin%20.019.423.5
Effective tax rate%21.111.621.8
Net profit margin%10.010.411.4
* 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 15.5% on a year-on-year (YoY) basis. The expenses were down by 19.2% YoY during the same period.
  • The company's operating profit declined by 0.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.5% in 1QFY21 as against 20.0% in 1QFY20.
  • Depreciation charges increased by 10.5% and finance costs declined by 16.7% YoY, respectively.
  • Other income declined by 33.7% YoY during the quarter.
  • Net profit for the quarter declined by 4.5% YoY. Net profit margins during the quarter increased from 10.0% in 1QFY20 to 11.4% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 16.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 21.0% QoQ during the same period.
  • The company's operating profit increased by 0.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.5% in 1QFY21 as against 19.4% in 4QFY20.
  • Net profit for the quarter declined by 8.9% QoQ, while net profit margins increased from 10.4% in 4QFY20 to 11.4% in 1QFY21.

To see how SRF LTD has performed over the last eight quarters,please visit here.

Tomorrow at 5pm: Get the details of India's #1 defence stock

SRF LTD Share Price Performance

Over the last one year,SRF LTD share price has moved up from Rs 2,811.1 to Rs 4,388.8, registering a Gain of Rs 1,577.7 or around 56.1%.

Overall, the S&P BSE SENSEX is up 3.8% over the year.

Current Valuations

At the current price of Rs 4,388.8, the price to earnings (P/E) ratio of SRF LTD stands at 32.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.2 times.

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