UPL Announces Quarterly Results (3QFY21); Net Profit Up 13.5%

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UPL Announces Quarterly Results (3QFY21); Net Profit Up 13.5%
Mon, 1 Feb

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

UPL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m88,92089,39091,2602.1%2.6%
Other incomeRs m200750670-10.7%235.0%
TurnoverRs m89,12090,14091,9302.0%3.2%
ExpensesRs m67,90072,72069,240-4.8%2.0%
Gross profitRs m20,27014,56022,80056.6%12.5%
DepreciationRs m4,9505,3305,4201.7%9.5%
InterestRs m5,1503,4307,450117.2%44.7%
Profit before taxRs m10,3706,55010,60061.8%2.2%
TaxRs m1,9901,1201,090-2.7%-45.2%
Profit after taxRs m8,3805,4309,51075.1%13.5%
Gross profit margin%22.816.325.0
Effective tax rate%19.217.110.3
Net profit margin%9.46.010.3
* 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 2.6% on a year-on-year (YoY) basis. The expenses were up by 2.0% YoY during the same period.
  • The company's operating profit increased by 12.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.0% in 3QFY21 as against 22.8% in 3QFY20.
  • Depreciation charges increased by 9.5% and finance costs increased by 44.7% YoY, respectively.
  • Other income increased by 235.0% YoY during the quarter.
  • Net profit for the quarter increased by 13.5% YoY. Net profit margins during the quarter increased from 9.4% in 3QFY20 to 10.3% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.8% QoQ during the same period.
  • The company's operating profit increased by 56.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.0% in 3QFY21 as against 16.3% in 2QFY20.
  • Net profit for the quarter increased by 75.1% QoQ, while net profit margins increased from 6.0% in 2QFY20 to 10.3% in 3QFY21.

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

LIVE on April 23rd: Has Covid impacted India's long-term growth potential?

UPL Share Price Performance

Over the last one year, UPL share price has moved up from Rs 503.1 to Rs 532.4, registering a Gain of Rs 29.3 or around 5.8%.

Overall, the S&P BSE SENSEX is up 18.6% over the year.

Current Valuations

At the current price of Rs 532.4, the price to earnings (P/E) ratio of UPL stands at 14.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.5 times.

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