SRF LTD Announces Quarterly Results (4QFY20); Net Profit Up 1.7%

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SRF LTD Announces Quarterly Results (4QFY20); Net Profit Up 1.7%
Fri, 5 Jun

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

SRF LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m20,72018,50518,5780.4%-10.3%
Other incomeRs m165566313.7%-61.8%
TurnoverRs m20,88618,56118,6420.4%-10.7%
ExpensesRs m16,84114,47614,9653.4%-11.1%
Gross profitRs m3,8794,0293,613-10.3%-6.9%
DepreciationRs m9711,0191,014-0.5%4.4%
InterestRs m529475466-1.9%-11.9%
Profit before taxRs m2,5452,5912,196-15.2%-13.7%
TaxRs m636-864255-59.9%
Profit after taxRs m1,9093,4551,942-43.8%1.7%
Gross profit margin%18.721.819.4
Effective tax rate%25.0-33.411.6
Net profit margin%9.118.610.4
* 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 10.3% on a year-on-year (YoY) basis. The expenses were down by 11.1% YoY during the same period.
  • The company's operating profit declined by 6.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 19.4% in 4QFY20.
  • Depreciation charges increased by 4.4% and finance costs declined by 11.9% YoY, respectively.
  • Other income declined by 61.8% YoY during the quarter.
  • Net profit for the quarter increased by 1.7% YoY. Net profit margins during the quarter increased from 9.1% in 4QFY19 to 10.4% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.4% QoQ during the same period.
  • The company's operating profit declined by 10.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.4% in 4QFY20 as against 21.8% in 3QFY19.
  • Net profit for the quarter declined by 43.8% QoQ, while net profit margins declined from 18.6% in 3QFY19 to 10.4% in 4QFY20.

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

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SRF LTD Share Price Performance

Over the last one year,SRF LTD share price has moved up from Rs 2,898.8 to Rs 3,681.8, registering a Gain of Rs 783.0 or around 27.0%.

Overall, the S&P BSE SENSEX is down 14.3% over the year.

Current Valuations

At the current price of Rs 3,681.8, the price to earnings (P/E) ratio of SRF LTD stands at 27.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.1 times.

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