THERMAX Announces Quarterly Results (3QFY21); Net Profit Down 2.0%

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THERMAX Announces Quarterly Results (3QFY21); Net Profit Down 2.0%
Fri, 5 Feb

THERMAX has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

THERMAX Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m14,10111,41214,10623.6%0.0%
Other incomeRs m25822828224.0%9.6%
TurnoverRs m14,35811,64014,38823.6%0.2%
ExpensesRs m12,96910,61912,63018.9%-2.6%
Gross profitRs m1,1325471,197118.9%5.8%
DepreciationRs m3162872911.4%-7.9%
InterestRs m19475720.5%192.7%
Profit before taxRs m1,0544411,132156.8%7.4%
TaxRs m205129300133.1%46.2%
Profit after taxRs m850312833166.5%-2.0%
Gross profit margin%8.04.88.5
Effective tax rate%19.429.126.5
Net profit margin%5.92.75.8
* 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 0.0% on a year-on-year (YoY) basis. The expenses were down by 2.6% YoY during the same period.
  • The company's operating profit increased by 5.8% YoY during the quarter. Consequently, operating profit margins remained same and stood at 8.5% in 3QFY21.
  • Depreciation charges declined by 7.9% and finance costs increased by 192.7% YoY, respectively.
  • Other income increased by 9.6% YoY during the quarter.
  • Net profit for the quarter declined by 2.0% YoY. Net profit margins during the quarter declined from 5.9% in 3QFY20 to 5.8% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 23.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 18.9% QoQ during the same period.
  • The company's operating profit increased by 118.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.5% in 3QFY21 as against 4.8% in 2QFY20.
  • Net profit for the quarter increased by 166.5% QoQ, while net profit margins increased from 2.7% in 2QFY20 to 5.8% in 3QFY21.

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

Get Details: We are Bullish on These 3 Little-known Stocks

THERMAX Share Price Performance

Over the last one year, THERMAX share price has moved up from Rs 1,074.2 to Rs 1,202.1, registering a Gain of Rs 127.9 or around 11.9%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 21,671.3 (down 0.7%). Over the last one year it has moved up from 17,135.0 to 21,671.3, a gain of 4,536 points (up 26.5%).

Overall, the S&P BSE SENSEX is up 27.3% over the year.

Current Valuations

At the current price of Rs 1,202.1, the price to earnings (P/E) ratio of THERMAX stands at 103.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.8 times.

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