SRF LTD Announces Quarterly Results (4QFY18); Net Profit Down 4.1%

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SRF LTD Announces Quarterly Results (4QFY18); Net Profit Down 4.1%
Fri, 20 Jul

SRF LTD has announced its results for the quarter ended March 2018. Here is a detailed performance review of the same:

SRF LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Net SalesRs m14,16413,97116,12315.4%13.8%
Other incomeRs m259209130-37.7%-49.7%
TurnoverRs m14,42414,18016,25314.6%12.7%
ExpensesRs m11,82211,44413,33216.5%12.8%
Gross profitRs m2,3432,5272,79010.4%19.1%
DepreciationRs m73077086111.8%18.0%
InterestRs m22823942578.0%86.4%
Profit before taxRs m1,6441,7271,634-5.4%-0.6%
TaxRs m352415395-4.8%12.4%
Profit after taxRs m1,2921,3121,239-5.6%-4.1%
Gross profit margin%16.518.117.3
Effective tax rate%21.424.024.2
Net profit margin%9.09.37.6
* 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 13.8% on a year-on-year (YoY) basis. The expenses were up by 12.8% YoY during the same period.
  • The company's operating profit increased by 19.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 17.3% in 4QFY18.
  • Depreciation charges and finance costs increased by 18.0% YoY and 86.4% YoY, respectively.
  • Other income declined by 49.7% YoY during the quarter.
  • Net profit for the quarter declined by 4.1% YoY. Net profit margins during the quarter declined from 9.0% in 4QFY17 to 7.6% in 4QFY18.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 15.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 16.5% QoQ during the same period.
  • The company's operating profit declined by 10.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.3% in 4QFY18 as against 18.1% in 3QFY17.
  • Net profit for the quarter declined by 5.6% QoQ, while net profit margins declined from 9.3% in 3QFY17 to 7.6% in 4QFY18.

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

SRF LTD Share Price Performance

Over the last one year, SRF LTD share price has moved up from Rs 1,515.0 to Rs 1,573.9, registering a Gain of Rs 58.9 or around 3.9%.

Overall, the S&P BSE SENSEX is up 0.5% over the year.

Current Valuations

At the current price of Rs 1,573.9, the price to earnings (P/E) ratio of SRF LTD stands at 23.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.4 times.

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