VOLTAS Announces Quarterly Results (4QFY20); Net Profit Up 11.1%

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VOLTAS Announces Quarterly Results (4QFY20); Net Profit Up 11.1%
Mon, 1 Jun

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

VOLTAS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m20,62814,92520,89640.0%1.3%
Other incomeRs m57254360511.4%5.7%
TurnoverRs m21,20015,46821,50139.0%1.4%
ExpensesRs m19,18513,95018,97636.0%-1.1%
Gross profitRs m1,4439761,90094.8%31.7%
DepreciationRs m5980822.2%38.3%
InterestRs m10657615.6%-43.1%
Profit before taxRs m1,8491,3812,36271.1%27.7%
TaxRs m23931457282.5%139.9%
Profit after taxRs m1,6111,0671,79067.8%11.1%
Gross profit margin%7.06.59.1
Effective tax rate%12.922.724.2
Net profit margin%7.66.98.3
* 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 1.3% on a year-on-year (YoY) basis. The expenses were down by 1.1% YoY during the same period.
  • The company's operating profit increased by 31.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.1% in 4QFY20 as against 7.0% in 4QFY19.
  • Depreciation charges increased by 38.3% and finance costs declined by 43.1% YoY, respectively.
  • Other income increased by 5.7% YoY during the quarter.
  • Net profit for the quarter increased by 11.1% YoY. Net profit margins during the quarter increased from 7.6% in 4QFY19 to 8.3% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 40.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 36.0% QoQ during the same period.
  • The company's operating profit increased by 94.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.1% in 4QFY20 as against 6.5% in 3QFY19.
  • Net profit for the quarter increased by 67.8% QoQ, while net profit margins increased from 6.9% in 3QFY19 to 8.3% in 4QFY20.

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

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VOLTAS Share Price Performance

Over the last one year,VOLTAS share price has moved down from Rs 578.9 to Rs 523.0, registering a Loss of Rs 55.9 or around 9.7%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 12,624.0 (up 2.4%). Over the last one year it has moved down from 19,939.3 to 12,624.0, a loss of 7,315 points (down 36.7%).

Overall, the S&P BSE SENSEX is down 15.8% over the year.

Current Valuations

At the current price of Rs 523.0, the price to earnings (P/E) ratio of VOLTAS stands at 29.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.2 times.

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