VST INDUSTRIES Announces Quarterly Results (2QFY21); Net Profit Up 16.0%

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VST INDUSTRIES Announces Quarterly Results (2QFY21); Net Profit Up 16.0%
Thu, 21 Jan

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

VST INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m3,2303,1493,94925.4%22.2%
Other incomeRs m12311614726.6%19.7%
TurnoverRs m3,3533,2654,09625.4%22.2%
ExpensesRs m2,2662,1562,81830.7%24.4%
Gross profitRs m9659931,13113.8%17.2%
DepreciationRs m9389890.2%-4.1%
InterestRs m0000.0%0.0%
Profit before taxRs m9941,0201,18816.5%19.5%
TaxRs m23126330315.1%31.1%
Profit after taxRs m76375788516.9%16.0%
Gross profit margin%29.931.528.6
Effective tax rate%23.225.825.5
Net profit margin%22.823.221.6
* 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 22.2% on a year-on-year (YoY) basis. The expenses were up by 24.4% YoY during the same period.
  • The company's operating profit increased by 17.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 28.6% in 2QFY21 as against 29.9% in 2QFY20.
  • Depreciation charges declined by 4.1% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 19.7% YoY during the quarter.
  • Net profit for the quarter increased by 16.0% YoY. Net profit margins during the quarter declined from 22.8% in 2QFY20 to 21.6% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 25.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 30.7% QoQ during the same period.
  • The company's operating profit increased by 13.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 28.6% in 2QFY21 as against 31.5% in 1QFY20.
  • Net profit for the quarter increased by 16.9% QoQ, while net profit margins declined from 23.2% in 1QFY20 to 21.6% in 2QFY21.

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

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VST INDUSTRIES Share Price Performance

Over the last one year, VST INDUSTRIES share price has moved down from Rs 4,644.0 to Rs 3,661.5, registering a Loss of Rs 982.6 or around 21.2%.

Overall, the S&P BSE SENSEX is up 20.7% over the year.

Current Valuations

At the current price of Rs 3,661.5, the price to earnings (P/E) ratio of VST INDUSTRIES stands at 18.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.5 times.

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