TIMKEN INDIA Announces Quarterly Results (4QFY19); Net Profit Up 141.4%

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TIMKEN INDIA Announces Quarterly Results (4QFY19); Net Profit Up 141.4%
Fri, 24 May

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

TIMKEN INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m3,4543,8494,48016.4%29.7%
Other incomeRs m183368110.5%282.1%
TurnoverRs m3,4723,8814,54817.2%31.0%
ExpensesRs m2,9943,2933,4685.3%15.8%
Gross profitRs m4605561,01282.2%119.8%
DepreciationRs m1102042228.6%101.9%
InterestRs m342-41.7%-19.2%
Profit before taxRs m366380857125.3%134.1%
TaxRs m129116284145.3%120.7%
Profit after taxRs m237264572116.5%141.4%
Gross profit margin%13.314.422.6
Effective tax rate%35.230.533.2
Net profit margin%6.86.812.6
* 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 29.7% on a year-on-year (YoY) basis. The expenses were up by 15.8% YoY during the same period.
  • The company's operating profit increased by 119.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.6% in 4QFY19 as against 13.3% in 4QFY18.
  • Depreciation charges increased by 101.9% and finance costs declined by 19.2% YoY, respectively.
  • Other income increased by 282.1% YoY during the quarter.
  • Net profit for the quarter increased by 141.4% YoY. Net profit margins during the quarter increased from 6.8% in 4QFY18 to 12.6% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 16.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.3% QoQ during the same period.
  • The company's operating profit increased by 82.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.6% in 4QFY19 as against 14.4% in 3QFY18.
  • Net profit for the quarter increased by 116.5% QoQ, while net profit margins increased from 6.8% in 3QFY18 to 12.6% in 4QFY19.

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

TIMKEN INDIA Share Price Performance

Over the last one year, TIMKEN INDIA share price has moved up from Rs 692.1 to Rs 671.7, registering a Loss of Rs 20.4 or around 2.9%.

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 671.7, the price to earnings (P/E) ratio of TIMKEN INDIA stands at 30.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.5 times.

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For the quarter ended September 2019, TIMKEN INDIA has posted a net profit of Rs 498 m (up 44.1% YoY). Sales on the other hand came in at Rs 4 bn (down 3.1% YoY). Read on for a complete analysis of TIMKEN INDIA's quarterly results.

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