WHEELS INDIA Announces Quarterly Results (3QFY21); Net Profit Up 30.4%

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WHEELS INDIA Announces Quarterly Results (3QFY21); Net Profit Up 30.4%
Tue, 2 Feb

WHEELS INDIA has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

WHEELS INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m5,8325,0916,40025.7%9.7%
Other incomeRs m291716-6.4%-44.5%
TurnoverRs m5,8615,1086,41725.6%9.5%
ExpensesRs m5,4254,7015,88925.3%8.6%
Gross profitRs m40839051131.0%25.5%
DepreciationRs m16918621817.1%28.5%
InterestRs m1451271345.8%-7.2%
Profit before taxRs m1239517685.0%43.3%
TaxRs m312156169.9%82.3%
Profit after taxRs m927412061.5%30.4%
Gross profit margin%7.07.78.0
Effective tax rate%24.921.731.7
Net profit margin%1.61.51.9
* 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 9.7% on a year-on-year (YoY) basis. The expenses were up by 8.6% YoY during the same period.
  • The company's operating profit increased by 25.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.0% in 3QFY21 as against 7.0% in 3QFY20.
  • Depreciation charges increased by 28.5% and finance costs declined by 7.2% YoY, respectively.
  • Other income declined by 44.5% YoY during the quarter.
  • Net profit for the quarter increased by 30.4% YoY. Net profit margins during the quarter increased from 1.6% in 3QFY20 to 1.9% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 25.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 25.3% QoQ during the same period.
  • The company's operating profit increased by 31.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.0% in 3QFY21 as against 7.7% in 2QFY20.
  • Net profit for the quarter increased by 61.5% QoQ, while net profit margins increased from 1.4% in 2QFY20 to 1.9% in 3QFY21.

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

New Research: Our #1 Stock Pick Right Now

WHEELS INDIA Share Price Performance

Over the last one year, WHEELS INDIA share price has moved down from Rs 595.4 to Rs 486.9, registering a Loss of Rs 108.6 or around 18.2%.

Overall, the S&P BSE SENSEX is up 20.3% over the year.

Current Valuations

At the current price of Rs 486.9, the price to book value (P/BV) ratio of WHEELS INDIA stands at 0.9 times.

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Related Views on News

WHEELS INDIA Announces Quarterly Results (3QFY20); Net Profit Down 39.8% (Quarterly Result Update)

Feb 19, 2020 | Updated on Feb 19, 2020

For the quarter ended December 2019, WHEELS INDIA has posted a net profit of Rs 92 m (down 39.8% YoY). Sales on the other hand came in at Rs 6 bn (down 25.8% YoY). Read on for a complete analysis of WHEELS INDIA's quarterly results.

WHEELS INDIA Announces Quarterly Results (2QFY20); Net Profit Up 26.5% (Quarterly Result Update)

Nov 7, 2019 | Updated on Nov 7, 2019

For the quarter ended September 2019, WHEELS INDIA has posted a net profit of Rs 287 m (up 26.5% YoY). Sales on the other hand came in at Rs 6 bn (down 25.5% YoY). Read on for a complete analysis of WHEELS INDIA's quarterly results.

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Jul 25, 2019 | Updated on Jul 25, 2019

Here's an analysis of the annual report of WHEELS INDIA for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of WHEELS INDIA. Also includes updates on the valuation of WHEELS INDIA.

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