UPL Announces Quarterly Results (2QFY20); Net Profit Down 60.9%

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UPL Announces Quarterly Results (2QFY20); Net Profit Down 60.9%
Thu, 14 Nov

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

UPL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m42,57079,06078,170-1.1%83.6%
Other incomeRs m320390240-38.5%-25.0%
TurnoverRs m42,89079,45078,410-1.3%82.8%
ExpensesRs m34,70066,66063,700-4.4%83.6%
Gross profitRs m7,30011,68011,420-2.2%56.4%
DepreciationRs m1,8105,7706,0805.4%235.9%
InterestRs m1,8103,9803,810-4.3%110.5%
Profit before taxRs m4,0002,3201,770-23.7%-55.8%
TaxRs m1,160120660450.0%-43.1%
Profit after taxRs m2,8402,2001,110-49.5%-60.9%
Gross profit margin%17.114.814.6
Effective tax rate%29.05.237.3
Net profit margin%6.62.81.4
* 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 83.6% on a year-on-year (YoY) basis. The expenses were up by 83.6% YoY during the same period.
  • The company's operating profit increased by 56.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.6% in 2QFY20 as against 17.1% in 2QFY19.
  • Depreciation charges increased by 235.9% and finance costs increased by 110.5% YoY, respectively.
  • Other income declined by 25.0% YoY during the quarter.
  • Net profit for the quarter declined by 60.9% YoY. Net profit margins during the quarter declined from 6.6% in 2QFY19 to 1.4% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.4% QoQ during the same period.
  • The company's operating profit declined by 2.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.6% in 2QFY20 as against 14.8% in 1QFY19.
  • Net profit for the quarter declined by 49.5% QoQ, while net profit margins declined from 2.8% in 1QFY19 to 1.4% in 2QFY20.

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

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UPL Share Price Performance

Over the last one year,UPL share price has moved up from Rs 506.6 to Rs 536.6, registering a Gain of Rs 29.9 or around 5.9%.

Overall, the S&P BSE SENSEX is up 14.4% over the year.

Current Valuations

At the current price of Rs 536.6, the price to earnings (P/E) ratio of UPL stands at 39.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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