ZF STEERING Announces Quarterly Results (3QFY20); Net Profit Down 112.6%

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ZF STEERING Announces Quarterly Results (3QFY20); Net Profit Down 112.6%
Mon, 20 Jan

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

ZF STEERING Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m1,092669639-4.5%-41.5%
Other incomeRs m17196-69.9%-65.1%
TurnoverRs m1,108688644-6.4%-41.8%
ExpensesRs m8921,280543-57.6%-39.1%
Gross profitRs m200579667.6%-52.1%
DepreciationRs m85698725.2%1.6%
InterestRs m533-6.5%-44.7%
Profit before taxRs m127512172.0%-90.3%
TaxRs m37132487.7%-36.8%
Profit after taxRs m89-8-11-112.6%
Gross profit margin%18.38.515.0
Effective tax rate%29.5277.3191.4
Net profit margin%8.1-1.2-1.7
* 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 41.5% on a year-on-year (YoY) basis. The expenses were down by 39.1% YoY during the same period.
  • The company's operating profit declined by 52.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.0% in 3QFY20 as against 18.3% in 3QFY19.
  • Depreciation charges increased by 1.6% and finance costs declined by 44.7% YoY, respectively.
  • Other income declined by 65.1% YoY during the quarter.
  • Net profit for the quarter declined by 112.6% YoY. Net profit margins during the quarter declined from 8.1% in 3QFY19 to -1.7% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 57.6% QoQ during the same period.
  • The company's operating profit increased by 67.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.0% in 3QFY20 as against 8.5% in 2QFY19.
  • Net profit for the quarter declined by 40.2% QoQ, while net profit margins declined from -1.2% in 2QFY19 to -1.7% in 3QFY20.

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 765.2 to Rs 429.5, registering a Loss of Rs 335.7 or around 43.9%.

Overall, the S&P BSE SENSEX is up 14.7% over the year.

Current Valuations

At the current price of Rs 429.5, the price to book value (P/BV) ratio of ZF STEERING stands at 1.2 times.

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