TINPLATE Announces Quarterly Results (1QFY20); Net Profit Down 7.1%

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TINPLATE Announces Quarterly Results (1QFY20); Net Profit Down 7.1%
Wed, 17 Jul

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

TINPLATE Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m5,6867,2785,613-22.9%-1.3%
Other incomeRs m5665696.4%22.5%
TurnoverRs m5,7437,3435,682-22.6%-1.1%
ExpensesRs m5,4316,7435,351-20.6%-1.5%
Gross profitRs m255535262-51.0%2.9%
DepreciationRs m157166161-2.9%2.8%
InterestRs m1015150.1%48.4%
Profit before taxRs m145420156-62.9%7.6%
TaxRs m5014468-52.5%35.1%
Profit after taxRs m9527688-68.2%-7.1%
Gross profit margin%4.57.44.7
Effective tax rate%34.834.243.7
Net profit margin%1.63.81.5
* 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 1.3% on a year-on-year (YoY) basis. The expenses were down by 1.5% YoY during the same period.
  • The company's operating profit increased by 2.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 4.7% in 1QFY20 as against 4.5% in 1QFY19.
  • Depreciation charges increased by 2.8% and finance costs increased by 48.4% YoY, respectively.
  • Other income increased by 22.5% YoY during the quarter.
  • Net profit for the quarter declined by 7.1% YoY. Net profit margins during the quarter declined from 1.6% in 1QFY19 to 1.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 22.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 20.6% QoQ during the same period.
  • The company's operating profit declined by 51.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.7% in 1QFY20 as against 7.4% in 4QFY19.
  • Net profit for the quarter declined by 68.2% QoQ, while net profit margins declined from 3.8% in 4QFY19 to 1.5% in 1QFY20.

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

TINPLATE Share Price Performance

Over the last one year,TINPLATE share price has moved down from Rs 152.3 to Rs 128.4, registering a Loss of Rs 24.0 or around 15.7%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 10,608.8 (down 0.1%). Over the last one year it has moved down from 12,239.0 to 10,608.8, a gain of 1,630 points (down 13.3%).

Overall, the S&P BSE SENSEX is up 8.0% over the year.

Current Valuations

At the current price of Rs 128.4, the price to earnings (P/E) ratio of TINPLATE stands at 23.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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