GOODRICKE Announces Quarterly Results (3QFY20); Net Profit Down 80.8%

Wed, 12 Feb

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

GOODRICKE Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-18*	3 Sep-19*	3 Dec-19*	QoQ Change	YoY Change
Net Sales	Rs m	2,740	2,482	2,865	15.4%	4.6%
Other income	Rs m	37	26	46	73.5%	25.5%
Turnover	Rs m	2,776	2,508	2,911	16.1%	4.8%
Expenses	Rs m	2,658	1,871	2,819	50.6%	6.0%
Gross profit	Rs m	82	610	46	-92.4%	-43.5%
Depreciation	Rs m	38	50	51	3.2%	33.6%
Interest	Rs m	20	25	29	18.7%	44.6%
Profit before tax	Rs m	60	562	11	-98.0%	-80.8%
Tax	Rs m	0	0	0	0.0%	0.0%
Profit after tax	Rs m	60	562	11	-98.0%	-80.8%
Gross profit margin	%	3.0	24.6	1.6
Effective tax rate	%	0.0	0.0	0.0
Net profit margin	%	2.1	22.4	0.4

Year-on-Year Performance:

• The company's operating income during the quarter grew 4.6% on a year-on-year (YoY) basis. The expenses were up by 6.0% YoY during the same period.
• The company's operating profit declined by 43.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.6% in 3QFY20 as against 3.0% in 3QFY19.
• Depreciation charges increased by 33.6% and finance costs increased by 44.6% YoY, respectively.
• Other income increased by 25.5% YoY during the quarter.
• Net profit for the quarter declined by 80.8% YoY. Net profit margins during the quarter declined from 2.1% in 3QFY19 to 0.4% in 3QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 15.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 50.6% QoQ during the same period.
• The company's operating profit declined by 92.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.6% in 3QFY20 as against 24.6% in 2QFY19.
• Net profit for the quarter declined by 98.0% QoQ, while net profit margins declined from 22.4% in 2QFY19 to 0.4% in 3QFY20.

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

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GOODRICKE Share Price Performance

Over the last one year,GOODRICKE share price has moved down from Rs 230.8 to Rs 187.2, registering a Loss of Rs 43.7 or around 18.9%.

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 187.2, the price to earnings (P/E) ratio of GOODRICKE stands at 62.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.