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TITAN Announces Quarterly Results (4QFY19); Net Profit Up 13.7%

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TITAN Announces Quarterly Results (4QFY19); Net Profit Up 13.7%
Thu, 9 May

TITAN has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

TITAN Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m41,07258,71548,888-16.7%19.0%
Other incomeRs m185626563-10.1%204.8%
TurnoverRs m41,25759,34149,451-16.7%19.9%
ExpensesRs m36,71852,80344,403-15.9%20.9%
Gross profitRs m4,2985,9124,485-24.1%4.4%
DepreciationRs m3603854086.2%13.6%
InterestRs m167157125-20.3%-25.3%
Profit before taxRs m3,9565,9974,515-24.7%14.1%
TaxRs m8931,8851,032-45.2%15.6%
Profit after taxRs m3,0634,1123,482-15.3%13.7%
Gross profit margin%10.510.19.2
Effective tax rate%22.631.422.9
Net profit margin%7.46.97.0
* 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 19.0% on a year-on-year (YoY) basis. The expenses were up by 20.9% YoY during the same period.
  • The company's operating profit increased by 4.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.2% in 4QFY19 as against 10.5% in 4QFY18.
  • Depreciation charges increased by 13.6% and finance costs declined by 25.3% YoY, respectively.
  • Other income increased by 204.8% YoY during the quarter.
  • Net profit for the quarter increased by 13.7% YoY. Net profit margins during the quarter declined from 7.4% in 4QFY18 to 7.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 16.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 15.9% QoQ during the same period.
  • The company's operating profit declined by 24.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.2% in 4QFY19 as against 10.1% in 3QFY18.
  • Net profit for the quarter declined by 15.3% QoQ, while net profit margins increased from 6.9% in 3QFY18 to 7.0% in 4QFY19.

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

TITAN Share Price Performance

Over the last one year, TITAN share price has moved up from Rs 985.7 to Rs 1,102.1, registering a Gain of Rs 116.4 or around 11.8%.

Overall, the S&P BSE SENSEX is up 6.9% over the year.

Current Valuations

At the current price of Rs 1,102.1, the price to earnings (P/E) ratio of TITAN stands at 70.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 19.2 times.

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