TIMKEN INDIA Announces Quarterly Results (2QFY20); Net Profit Up 44.1%

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TIMKEN INDIA Announces Quarterly Results (2QFY20); Net Profit Up 44.1%
Fri, 1 Nov

TIMKEN INDIA has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

TIMKEN INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m4,1384,3784,012-8.4%-3.1%
Other incomeRs m33426452.4%96.3%
TurnoverRs m4,1714,4204,076-7.8%-2.3%
ExpensesRs m3,4343,4263,115-9.1%-9.3%
Gross profitRs m704951897-5.7%27.4%
DepreciationRs m198208191-8.2%-3.4%
InterestRs m633-12.5%-50.9%
Profit before taxRs m534782767-1.9%43.8%
TaxRs m188277269-2.8%43.3%
Profit after taxRs m346505498-1.4%44.1%
Gross profit margin%17.021.722.4
Effective tax rate%35.235.435.1
Net profit margin%8.311.412.2
* 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 3.1% on a year-on-year (YoY) basis. The expenses were down by 9.3% YoY during the same period.
  • The company's operating profit increased by 27.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.4% in 2QFY20 as against 17.0% in 2QFY19.
  • Depreciation charges declined by 3.4% and finance costs declined by 50.9% YoY, respectively.
  • Other income increased by 96.3% YoY during the quarter.
  • Net profit for the quarter increased by 44.1% YoY. Net profit margins during the quarter increased from 8.3% in 2QFY19 to 12.2% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 8.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 9.1% QoQ during the same period.
  • The company's operating profit declined by 5.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.4% in 2QFY20 as against 21.7% in 1QFY19.
  • Net profit for the quarter declined by 1.4% QoQ, while net profit margins increased from 11.4% in 1QFY19 to 12.2% in 2QFY20.

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

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TIMKEN INDIA Share Price Performance

Over the last one year,TIMKEN INDIA share price has moved up from Rs 521.4 to Rs 902.4, registering a Gain of Rs 381.0 or around 73.1%.

Overall, the S&P BSE SENSEX is up 16.7% over the year.

Current Valuations

At the current price of Rs 902.4, the price to earnings (P/E) ratio of TIMKEN INDIA stands at 33.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.6 times.

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