THERMAX Announces Quarterly Results (1QFY20); Net Profit Up 29.0%

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THERMAX Announces Quarterly Results (1QFY20); Net Profit Up 29.0%
Tue, 13 Aug

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

THERMAX Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m10,35320,73713,925-32.9%34.5%
Other incomeRs m310520216-58.5%-30.5%
TurnoverRs m10,66321,25614,140-33.5%32.6%
ExpensesRs m9,65919,02912,934-32.0%33.9%
Gross profitRs m6931,688991-41.3%42.9%
DepreciationRs m2102472626.4%25.2%
InterestRs m33354424.2%31.7%
Profit before taxRs m7611,925901-53.2%18.4%
TaxRs m274653273-58.2%-0.4%
Profit after taxRs m4871,273628-50.7%29.0%
Gross profit margin%6.78.17.1
Effective tax rate%36.033.930.3
Net profit margin%4.66.04.4
* 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 34.5% on a year-on-year (YoY) basis. The expenses were up by 33.9% YoY during the same period.
  • The company's operating profit increased by 42.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 7.1% in 1QFY20.
  • Depreciation charges increased by 25.2% and finance costs increased by 31.7% YoY, respectively.
  • Other income declined by 30.5% YoY during the quarter.
  • Net profit for the quarter increased by 29.0% YoY. Net profit margins during the quarter declined from 4.6% in 1QFY19 to 4.4% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 32.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 32.0% QoQ during the same period.
  • The company's operating profit declined by 41.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.1% in 1QFY20 as against 8.1% in 4QFY19.
  • Net profit for the quarter declined by 50.7% QoQ, while net profit margins declined from 6.0% in 4QFY19 to 4.4% in 1QFY20.

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

THERMAX Share Price Performance

Over the last one year,THERMAX share price has moved up from Rs 1,055.9 to Rs 1,089.0, registering a Gain of Rs 33.1 or around 3.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,125.7 (down 1.0%). Over the last one year it has moved down from 18,029.9 to 17,125.7, a gain of 904 points (down 5.0%).

Overall, the S&P BSE SENSEX is down 1.2% over the year.

Current Valuations

At the current price of Rs 1,089.0, the price to earnings (P/E) ratio of THERMAX stands at 38.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.8 times.

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