THERMAX Announces Quarterly Results (4QFY19); Net Profit Up 37.0%

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THERMAX Announces Quarterly Results (4QFY19); Net Profit Up 37.0%
Mon, 27 May

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

THERMAX Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m14,43014,36620,73744.3%43.7%
Other incomeRs m45031352065.8%15.6%
TurnoverRs m14,88014,67921,25644.8%42.9%
ExpensesRs m13,04813,29319,02943.2%45.8%
Gross profitRs m1,3821981,688752.3%22.1%
DepreciationRs m2392302477.5%3.1%
InterestRs m373635-2.8%-4.9%
Profit before taxRs m1,5552461,925683.3%23.8%
TaxRs m626-5126534.3%
Profit after taxRs m9297571,27368.0%37.0%
Gross profit margin%9.61.48.1
Effective tax rate%40.3-208.133.9
Net profit margin%6.25.26.0
* 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 43.7% on a year-on-year (YoY) basis. The expenses were up by 45.8% YoY during the same period.
  • The company's operating profit increased by 22.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.1% in 4QFY19 as against 9.6% in 4QFY18.
  • Depreciation charges increased by 3.1% and finance costs declined by 4.9% YoY, respectively.
  • Other income increased by 15.6% YoY during the quarter.
  • Net profit for the quarter increased by 37.0% YoY. Net profit margins during the quarter declined from 6.2% in 4QFY18 to 6.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 44.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 43.2% QoQ during the same period.
  • The company's operating profit increased by 752.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.1% in 4QFY19 as against 1.4% in 3QFY18.
  • Net profit for the quarter increased by 68.0% QoQ, while net profit margins increased from 5.2% in 3QFY18 to 6.0% in 4QFY19.

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 1,116.8 to Rs 1,020.6, registering a Loss of Rs 96.2 or around 8.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 20,011.9 (up 1.7%). Over the last one year it has moved up from 18,605.1 to 20,011.9, a gain of 1,407 points (up 7.6%).

Overall, the S&P BSE SENSEX is up 14.2% over the year.

Current Valuations

At the current price of Rs 1,020.6, the price to earnings (P/E) ratio of THERMAX stands at 37.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.5 times.

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