THERMAX LTD Announces Quarterly Results (3QFY19); Net Profit Up 29.9%

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THERMAX LTD Announces Quarterly Results (3QFY19); Net Profit Up 29.9%
Mon, 11 Feb

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

THERMAX LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m11,17014,27614,3660.6%28.6%
Other incomeRs m238356313-11.9%31.5%
TurnoverRs m11,40814,63214,6790.3%28.7%
ExpensesRs m10,21513,17613,2930.9%30.1%
Gross profitRs m9551,100198-82.0%-79.3%
DepreciationRs m208235230-2.1%10.6%
InterestRs m253936-7.2%45.6%
Profit before taxRs m9611,183246-79.2%-74.4%
TaxRs m378434-512-217.8%-235.4%
Profit after taxRs m5837497571.2%29.9%
Gross profit margin%8.57.71.4
Effective tax rate%39.336.7-208.1
Net profit margin%5.15.15.2
* 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 28.6% on a year-on-year (YoY) basis. The expenses were up by 30.1% YoY during the same period.
  • The company's operating profit declined by 79.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.4% in 3QFY19 as against 8.5% in 3QFY18.
  • Depreciation charges increased by 10.6% and finance costs increased by 45.6% YoY, respectively.
  • Other income increased by 31.5% YoY during the quarter.
  • Net profit for the quarter increased by 29.9% YoY. Net profit margins during the quarter increased from 5.1% in 3QFY18 to 5.2% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.9% QoQ during the same period.
  • The company's operating profit declined by 82.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.4% in 3QFY19 as against 7.7% in 2QFY18.
  • Net profit for the quarter increased by 1.2% QoQ, while net profit margins increased from 5.1% in 2QFY18 to 5.2% in 3QFY19.

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 1,187.2 to Rs 1,059.0, registering a Loss of Rs 128.2 or around 10.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,627.5 (down 1.3%). Over the last one year it has moved down from 19,240.4 to 16,627.5, a gain of 2,613 points (down 13.6%).

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 1,059.0, 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 4.6 times.

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