THERMAX LTD Announces Quarterly Results (2QFY19); Net Profit Up 29.5%

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THERMAX LTD Announces Quarterly Results (2QFY19); Net Profit Up 29.5%
Fri, 16 Nov

THERMAX LTD has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

THERMAX LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m10,33110,35314,27637.9%38.2%
Other incomeRs m23631035614.7%51.0%
TurnoverRs m10,56710,66314,63237.2%38.5%
ExpensesRs m9,3799,65913,17636.4%40.5%
Gross profitRs m9526931,10058.7%15.6%
DepreciationRs m18921023511.9%24.3%
InterestRs m51333917.5%-23.6%
Profit before taxRs m9487611,18355.5%24.8%
TaxRs m37027443458.4%17.5%
Profit after taxRs m57848774953.8%29.5%
Gross profit margin%9.26.77.7
Effective tax rate%39.036.036.7
Net profit margin%5.54.65.1
* 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 38.2% on a year-on-year (YoY) basis. The expenses were up by 40.5% YoY during the same period.
  • The company's operating profit increased by 15.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.7% in 2QFY19 as against 9.2% in 2QFY18.
  • Depreciation charges increased by 24.3% and finance costs declined by 23.6% YoY, respectively.
  • Other income increased by 51.0% YoY during the quarter.
  • Net profit for the quarter increased by 29.5% YoY. Net profit margins during the quarter declined from 5.5% in 2QFY18 to 5.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 37.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 36.4% QoQ during the same period.
  • The company's operating profit increased by 58.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.7% in 2QFY19 as against 6.7% in 1QFY18.
  • Net profit for the quarter increased by 53.8% QoQ, while net profit margins increased from 4.6% in 1QFY18 to 5.1% in 2QFY19.

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

THERMAX LTD Share Price Performance

Over the last one year, THERMAX LTD share price has moved up from Rs 1,032.0 to Rs 995.0, registering a Loss of Rs 37.0 or around 3.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,447.2 (up 0.1%). Over the last one year it has moved up from 18,153.9 to 18,447.2, a gain of 293 points (up 1.6%).

Overall, the S&P BSE SENSEX is up 8.3% over the year.

Current Valuations

At the current price of Rs 995.0, the price to earnings (P/E) ratio of THERMAX LTD stands at 43.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.4 times.

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