STAR CEMENT Announces Quarterly Results (1QFY22); Net Profit Up 53.7%

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STAR CEMENT Announces Quarterly Results (1QFY22); Net Profit Up 53.7%
Mon, 16 Aug

STAR CEMENT has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

STAR CEMENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m2,9206,0265,111-15.2%75.1%
Other incomeRs m5983851.5%43.9%
TurnoverRs m2,9786,1105,196-15.0%74.4%
ExpensesRs m2,2674,9824,184-16.0%84.6%
Gross profitRs m6531,044927-11.2%41.9%
DepreciationRs m204277255-8.0%25.2%
InterestRs m17161813.1%11.3%
Profit before taxRs m492833738-11.5%50.1%
TaxRs m492058188.6%18.0%
Profit after taxRs m442813680-16.4%53.7%
Gross profit margin%22.417.318.1
Effective tax rate%10.02.47.9
Net profit margin%14.913.313.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 75.1% on a year-on-year (YoY) basis. The expenses were up by 84.6% YoY during the same period.
  • The company's operating profit increased by 41.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.1% in 1QFY22 as against 22.4% in 1QFY21.
  • Depreciation charges increased by 25.2% and finance costs increased by 11.3% YoY, respectively.
  • Other income increased by 43.9% YoY during the quarter.
  • Net profit for the quarter increased by 53.7% YoY. Net profit margins during the quarter declined from 14.9% in 1QFY21 to 13.1% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 15.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 16.0% QoQ during the same period.
  • The company's operating profit declined by 11.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.1% in 1QFY22 as against 17.3% in 4QFY21.
  • Net profit for the quarter declined by 16.4% QoQ, while net profit margins declined from 13.3% in 4QFY21 to 13.1% in 1QFY22.

To see how STAR CEMENT has performed over the last eight quarters,please visit here.

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STAR CEMENT Share Price Performance

Over the last one year, STAR CEMENT share price has moved up from Rs 87.5 to Rs 116.7, registering a Gain of Rs 29.2 or around 33.3%.

Overall, the S&P BSE SENSEX is up 44.9% over the year.

Current Valuations

At the current price of Rs 116.7, the price to earnings (P/E) ratio of STAR CEMENT stands at 22.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.6 times.

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