ZF STEERING Announces Quarterly Results (1QFY20); Net Profit Down 50.8%

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ZF STEERING Announces Quarterly Results (1QFY20); Net Profit Down 50.8%
Thu, 1 Aug

ZF STEERING has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

ZF STEERING Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m1,1481,068961-10.0%-16.3%
Other incomeRs m39327-79.3%-83.0%
TurnoverRs m1,1871,100967-12.1%-18.5%
ExpensesRs m924911809-11.2%-12.4%
Gross profitRs m225-512152-32.6%
DepreciationRs m668666-22.9%-0.3%
InterestRs m552-55.4%-60.1%
Profit before taxRs m192-57090-53.2%
TaxRs m18-2074-76.5%
Profit after taxRs m174-36386-50.8%
Gross profit margin%19.6-47.915.8
Effective tax rate%9.436.34.7
Net profit margin%14.7-33.08.9
* 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 fell 16.3% on a year-on-year (YoY) basis. The expenses were down by 12.4% YoY during the same period.
  • The company's operating profit declined by 32.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.8% in 1QFY20 as against 19.6% in 1QFY19.
  • Depreciation charges declined by 0.3% and finance costs declined by 60.1% YoY, respectively.
  • Other income declined by 83.0% YoY during the quarter.
  • Net profit for the quarter declined by 50.8% YoY. Net profit margins during the quarter declined from 14.7% in 1QFY19 to 8.9% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 10.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 11.2% QoQ during the same period.
  • The company's operating profit increased by 129.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.8% in 1QFY20 as against 47.9% in 4QFY19.
  • Net profit for the quarter increased by 123.6% QoQ, while net profit margins increased from -33.0% in 4QFY19 to 8.9% in 1QFY20.

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

ZF STEERING Share Price Performance

Over the last one year,ZF STEERING share price has moved down from Rs 920.4 to Rs 451.0, registering a Loss of Rs 469.4 or around 51.0%.

Overall, the S&P BSE SENSEX is down 1.0% over the year.

Current Valuations

At the current price of Rs 451.0, the price to book value (P/BV) ratio of ZF STEERING stands at 1.4 times.

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For the quarter ended December 2019, ZF STEERING has posted a net profit of Rs 11 m (down 112.6% YoY). Sales on the other hand came in at Rs 639 m (down 41.5% YoY). Read on for a complete analysis of ZF STEERING's quarterly results.

ZF STEERING Announces Quarterly Results (2QFY20); Net Profit Down 109.3% (Quarterly Result Update)

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