V GUARD IND. Announces Quarterly Results (2QFY19); Net Profit Down 17.9%

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V GUARD IND. Announces Quarterly Results (2QFY19); Net Profit Down 17.9%
Fri, 9 Nov

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

V GUARD IND. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m5,5996,3665,976-6.1%6.7%
Other incomeRs m211539157.0%90.4%
TurnoverRs m5,6206,3816,015-5.7%7.0%
ExpensesRs m4,9295,8845,477-6.9%11.1%
Gross profitRs m6704824983.5%-25.6%
DepreciationRs m4752554.2%16.0%
InterestRs m4237.3%-38.6%
Profit before taxRs m6394424808.7%-24.9%
TaxRs m17498990.4%-43.5%
Profit after taxRs m46534438211.0%-17.9%
Gross profit margin%12.07.68.3
Effective tax rate%27.322.220.5
Net profit margin%8.35.46.3
* 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 6.7% on a year-on-year (YoY) basis. The expenses were up by 11.1% YoY during the same period.
  • The company's operating profit declined by 25.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.3% in 2QFY19 as against 12.0% in 2QFY18.
  • Depreciation charges increased by 16.0% and finance costs declined by 38.6% YoY, respectively.
  • Other income increased by 90.4% YoY during the quarter.
  • Net profit for the quarter declined by 17.9% YoY. Net profit margins during the quarter declined from 8.3% in 2QFY18 to 6.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.9% QoQ during the same period.
  • The company's operating profit increased by 3.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.3% in 2QFY19 as against 7.6% in 1QFY18.
  • Net profit for the quarter increased by 11.0% QoQ, while net profit margins increased from 5.4% in 1QFY18 to 6.3% in 2QFY19.

To see how V GUARD IND. has performed over the last eight quarters, please visit here.

V GUARD IND. Share Price Performance

Over the last one year, V GUARD IND. share price has moved up from Rs 232.1 to Rs 195.5, registering a Loss of Rs 36.7 or around 15.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,252.6 (up 0.3%). Over the last one year it has moved down from 18,392.8 to 18,252.6, a gain of 140 points (down 0.8%).

Overall, the S&P BSE SENSEX is up 5.4% over the year.

Current Valuations

At the current price of Rs 195.5, the price to earnings (P/E) ratio of V GUARD IND. stands at 60.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 11.0 times.

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