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USHA MARTIN Announces Quarterly Results (2QFY19); Net Profit Up 138.0%

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USHA MARTIN Announces Quarterly Results (2QFY19); Net Profit Up 138.0%
Mon, 19 Nov

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

USHA MARTIN Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m11,22913,8426,307-54.4%-43.8%
Other incomeRs m24460150148.8%-38.5%
TurnoverRs m11,47213,9026,456-53.6%-43.7%
ExpensesRs m9,94811,5165,757-50.0%-42.1%
Gross profitRs m1,2812,320550-76.3%-57.1%
DepreciationRs m765792154-80.6%-79.9%
InterestRs m1,4661,472254-82.7%-82.7%
Profit before taxRs m-707116292151.9%
TaxRs m36210506.3%-72.7%
Profit after taxRs m-742114282146.9%
Gross profit margin%11.416.88.7
Effective tax rate%-5.01.43.3
Net profit margin%-6.50.84.4
* 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 fell 43.8% on a year-on-year (YoY) basis. The expenses were down by 42.1% YoY during the same period.
  • The company's operating profit declined by 57.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.7% in 2QFY19 as against 11.4% in 2QFY18.
  • Depreciation charges declined by 79.9% and finance costs declined by 82.7% YoY, respectively.
  • Other income declined by 38.5% YoY during the quarter.
  • Net profit for the quarter increased by 138.0% YoY. Net profit margins during the quarter increased from -6.5% in 2QFY18 to 4.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 54.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 50.0% QoQ during the same period.
  • The company's operating profit declined by 76.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.7% in 2QFY19 as against 16.8% in 1QFY18.
  • Net profit for the quarter increased by 146.9% QoQ, while net profit margins increased from 0.8% in 1QFY18 to 4.4% in 2QFY19.

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

USHA MARTIN Share Price Performance

Over the last one year, USHA MARTIN share price has moved up from Rs 24.2 to Rs 42.4, registering a Gain of Rs 18.2 or around 75.2%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 12,672.6 (up 0.8%). Over the last one year it has moved down from 14,248.6 to 12,672.6, a gain of 1,576 points (down 11.1%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

Current Valuations

At the current price of Rs 42.4, the price to book value (P/BV) ratio of USHA MARTIN stands at 1.8 times.

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For the quarter ended December 2018, USHA MARTIN has posted a net profit of Rs 323 m (up 129.0% YoY). Sales on the other hand came in at Rs 6 bn (down 45.4% YoY). Read on for a complete analysis of USHA MARTIN's quarterly results.

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USHA MARTIN Announces Quarterly Results (1QFY19); Net Profit Up 112.0% (Quarterly Result Update)

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For the quarter ended June 2018, USHA MARTIN has posted a net profit of Rs 114 m (up 112.0% YoY). Sales on the other hand came in at Rs 14 bn (up 15.5% YoY). Read on for a complete analysis of USHA MARTIN's quarterly results.

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