V GUARD IND. Announces Quarterly Results (3QFY19); Net Profit Down 5.8%

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V GUARD IND. Announces Quarterly Results (3QFY19); Net Profit Down 5.8%
Fri, 1 Feb

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

V GUARD IND. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m5,2355,9765,943-0.6%13.5%
Other incomeRs m26394411.0%69.6%
TurnoverRs m5,2616,0155,986-0.5%13.8%
ExpensesRs m4,7415,4775,4930.3%15.9%
Gross profitRs m494498450-9.8%-9.0%
DepreciationRs m4855562.3%16.7%
InterestRs m535100.4%12.2%
Profit before taxRs m467480432-10.1%-7.5%
TaxRs m1099995-3.7%-13.2%
Profit after taxRs m358382337-11.7%-5.8%
Gross profit margin%9.48.37.6
Effective tax rate%23.420.522.0
Net profit margin%6.86.35.6
* 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 13.5% on a year-on-year (YoY) basis. The expenses were up by 15.9% YoY during the same period.
  • The company's operating profit declined by 9.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.6% in 3QFY19 as against 9.4% in 3QFY18.
  • Depreciation charges increased by 16.7% and finance costs increased by 12.2% YoY, respectively.
  • Other income increased by 69.6% YoY during the quarter.
  • Net profit for the quarter declined by 5.8% YoY. Net profit margins during the quarter declined from 6.8% in 3QFY18 to 5.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.3% QoQ during the same period.
  • The company's operating profit declined by 9.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.6% in 3QFY19 as against 8.3% in 2QFY18.
  • Net profit for the quarter declined by 11.7% QoQ, while net profit margins declined from 6.4% in 2QFY18 to 5.6% in 3QFY19.

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 229.3 to Rs 198.1, registering a Loss of Rs 31.3 or around 13.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,493.1 (up 1.1%). Over the last one year it has moved down from 20,682.5 to 17,493.1, a gain of 3,189 points (down 15.4%).

Overall, the S&P BSE SENSEX is up 1.2% over the year.

Current Valuations

At the current price of Rs 198.1, the price to earnings (P/E) ratio of V GUARD IND. stands at 62.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 11.2 times.

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