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TITAN COMPANY Announces Quarterly Results (2QFY19); Net Profit Up 9.0%

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TITAN COMPANY Announces Quarterly Results (2QFY19); Net Profit Up 9.0%
Mon, 12 Nov

TITAN COMPANY has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

TITAN COMPANY Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m34,73144,51045,6722.6%31.5%
Other incomeRs m446361279-22.8%-37.5%
TurnoverRs m35,17744,87245,9512.4%30.6%
ExpensesRs m30,75039,68240,9833.3%33.3%
Gross profitRs m3,9774,8294,689-2.9%17.9%
DepreciationRs m3104074285.0%37.9%
InterestRs m14510913523.9%-7.1%
Profit before taxRs m3,9684,6744,405-5.7%11.0%
TaxRs m1,1891,3881,377-0.7%15.9%
Profit after taxRs m2,7793,2863,028-7.9%9.0%
Gross profit margin%11.510.810.3
Effective tax rate%30.029.731.3
Net profit margin%7.97.36.6
* 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 31.5% on a year-on-year (YoY) basis. The expenses were up by 33.3% YoY during the same period.
  • The company's operating profit increased by 17.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.3% in 2QFY19 as against 11.5% in 2QFY18.
  • Depreciation charges increased by 37.9% and finance costs declined by 7.1% YoY, respectively.
  • Other income declined by 37.5% YoY during the quarter.
  • Net profit for the quarter increased by 9.0% YoY. Net profit margins during the quarter declined from 7.9% in 2QFY18 to 6.6% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.3% QoQ during the same period.
  • The company's operating profit declined by 2.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.3% in 2QFY19 as against 10.8% in 1QFY18.
  • Net profit for the quarter declined by 7.9% QoQ, while net profit margins declined from 7.3% in 1QFY18 to 6.6% in 2QFY19.

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

TITAN COMPANY Share Price Performance

Over the last one year, TITAN COMPANY share price has moved up from Rs 782.2 to Rs 870.0, registering a Gain of Rs 87.8 or around 11.2%.

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 870.0, the price to earnings (P/E) ratio of TITAN COMPANY stands at 63.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 15.2 times.

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