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- ZF STEERING Announces Quarterly Results (3QFY19); Net Profit Down 29.3%
ZF STEERING Announces Quarterly Results (3QFY19); Net Profit Down 29.3%
Tue, 5 Feb
ZF STEERING has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:
ZF STEERING Quarterly Financials
| No. of Mths Qtr. Ending | 3 Dec-17* | 3 Sep-18* | 3 Dec-18* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 1,009 | 1,088 | 1,092 | 0.3% | 8.2% |
| Other income | Rs m | 53 | 15 | 17 | 10.6% | -68.4% |
| Turnover | Rs m | 1,062 | 1,104 | 1,108 | 0.4% | 4.3% |
| Expenses | Rs m | 817 | 912 | 892 | -2.3% | 9.1% |
| Gross profit | Rs m | 192 | 176 | 200 | 13.6% | 4.0% |
| Depreciation | Rs m | 85 | 73 | 85 | 17.3% | -0.3% |
| Interest | Rs m | 7 | 5 | 5 | 10.0% | -32.4% |
| Profit before tax | Rs m | 152 | 114 | 127 | 11.0% | -17.0% |
| Tax | Rs m | 26 | 27 | 37 | 36.5% | 41.8% |
| Profit after tax | Rs m | 126 | 87 | 89 | 2.9% | -29.3% |
| Gross profit margin | % | 19.1 | 16.2 | 18.3 | ||
| Effective tax rate | % | 17.3 | 24.0 | 29.5 | ||
| Net profit margin | % | 11.9 | 7.9 | 8.1 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The company's operating income during the quarter grew 8.2% on a year-on-year (YoY) basis. The expenses were up by 9.1% YoY during the same period.
- The company's operating profit increased by 4.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.3% in 3QFY19 as against 19.1% in 3QFY18.
- Depreciation charges declined by 0.3% and finance costs declined by 32.4% YoY, respectively.
- Other income declined by 68.4% YoY during the quarter.
- Net profit for the quarter declined by 29.3% YoY. Net profit margins during the quarter declined from 11.9% in 3QFY18 to 8.1% in 3QFY19.
Quarter-on-Quarter Performance:
- The company's operating income during the quarter grew 0.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.3% QoQ during the same period.
- The company's operating profit increased by 13.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.3% in 3QFY19 as against 16.2% in 2QFY18.
- Net profit for the quarter increased by 2.9% QoQ, while net profit margins increased from 7.9% in 2QFY18 to 8.1% in 3QFY19.
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 up from Rs 1,119.6 to Rs 710.1, registering a Loss of Rs 409.5 or around 36.6%.
Overall, the S&P BSE SENSEX is up 5.2% over the year.
Current Valuations
At the current price of Rs 710.1, the price to earnings (P/E) ratio of ZF STEERING stands at 12.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.
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