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

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ZF STEERING Announces Quarterly Results (2QFY20); Net Profit Down 109.3%
Thu, 17 Oct

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

ZF STEERING Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m1,088961669-30.4%-38.5%
Other incomeRs m15719191.6%28.4%
TurnoverRs m1,104967688-28.8%-37.6%
ExpensesRs m9128091,28058.2%40.3%
Gross profitRs m17615257-62.3%-67.5%
DepreciationRs m7366694.4%-4.8%
InterestRs m52340.7%-35.0%
Profit before taxRs m114905-95.0%-96.0%
TaxRs m27413196.2%-54.0%
Profit after taxRs m8786-8-109.4%-109.3%
Gross profit margin%16.215.88.5
Effective tax rate%24.04.7277.3
Net profit margin%7.98.9-1.2
* 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 38.5% on a year-on-year (YoY) basis. The expenses were up by 40.3% YoY during the same period.
  • The company's operating profit declined by 67.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.5% in 2QFY20 as against 16.2% in 2QFY19.
  • Depreciation charges declined by 4.8% and finance costs declined by 35.0% YoY, respectively.
  • Other income increased by 28.4% YoY during the quarter.
  • Net profit for the quarter declined by 109.3% YoY. Net profit margins during the quarter declined from 7.9% in 2QFY19 to -1.2% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 30.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 58.2% QoQ during the same period.
  • The company's operating profit declined by 62.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.5% in 2QFY20 as against 15.8% in 1QFY19.
  • Net profit for the quarter declined by 109.4% QoQ, while net profit margins declined from 8.9% in 1QFY19 to -1.2% in 2QFY20.

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

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ZF STEERING Share Price Performance

Over the last one year,ZF STEERING share price has moved down from Rs 901.6 to Rs 383.8, registering a Loss of Rs 517.8 or around 57.4%.

Overall, the S&P BSE SENSEX is up 10.0% over the year.

Current Valuations

At the current price of Rs 383.8, the price to book value (P/BV) ratio of ZF STEERING stands at 1.0 times.

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