VIP INDUSTRIES Announces Quarterly Results (4QFY20); Net Profit Down 62.3%

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VIP INDUSTRIES Announces Quarterly Results (4QFY20); Net Profit Down 62.3%
Fri, 29 May

VIP INDUSTRIES has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

VIP INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m4,3504,3243,113-28.0%-28.4%
Other incomeRs m201855210.7%179.2%
TurnoverRs m4,3704,3413,168-27.0%-27.5%
ExpensesRs m3,9543,6432,795-23.3%-29.3%
Gross profitRs m396680319-53.1%-19.4%
DepreciationRs m472172180.6%369.0%
InterestRs m75651-8.7%631.4%
Profit before taxRs m362425105-75.4%-71.1%
TaxRs m109839-88.8%-91.5%
Profit after taxRs m25334295-72.2%-62.3%
Gross profit margin%9.115.710.2
Effective tax rate%30.119.58.9
Net profit margin%5.87.93.0
* 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 28.4% on a year-on-year (YoY) basis. The expenses were down by 29.3% YoY during the same period.
  • The company's operating profit declined by 19.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.2% in 4QFY20 as against 9.1% in 4QFY19.
  • Depreciation charges increased by 369.0% and finance costs increased by 631.4% YoY, respectively.
  • Other income increased by 179.2% YoY during the quarter.
  • Net profit for the quarter declined by 62.3% YoY. Net profit margins during the quarter declined from 5.8% in 4QFY19 to 3.0% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 28.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 23.3% QoQ during the same period.
  • The company's operating profit declined by 53.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.2% in 4QFY20 as against 15.7% in 3QFY19.
  • Net profit for the quarter declined by 72.2% QoQ, while net profit margins declined from 7.9% in 3QFY19 to 3.0% in 4QFY20.

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

Revealed: Top 3 Stocks for 2020 and Beyond

VIP INDUSTRIES Share Price Performance

Over the last one year,VIP INDUSTRIES share price has moved down from Rs 438.2 to Rs 215.3, registering a Loss of Rs 222.9 or around 50.9%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 18,995.9 (down 0.3%). Over the last one year it has moved down from 24,612.9 to 18,995.9, a loss of 5,617 points (down 22.8%).

Overall, the S&P BSE SENSEX is down 19.1% over the year.

Current Valuations

At the current price of Rs 215.3, the price to earnings (P/E) ratio of VIP INDUSTRIES stands at 27.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.2 times.

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For the quarter ended December 2019, VIP INDUSTRIES has posted a net profit of Rs 342 m (up 43.6% YoY). Sales on the other hand came in at Rs 4 bn (up 0.5% YoY). Read on for a complete analysis of VIP INDUSTRIES's quarterly results.

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