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PRAKASH INDUSTRIES Announces Quarterly Results (2QFY20); Net Profit Down 74.7%
Tue, 12 Nov

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

PRAKASH INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m9,5038,2547,623-7.6%-19.8%
Other incomeRs m201615-8.2%-27.1%
TurnoverRs m9,5238,2707,638-7.6%-19.8%
ExpensesRs m7,6037,3156,745-7.8%-11.3%
Gross profitRs m1,900939878-6.5%-53.8%
DepreciationRs m3443393451.7%0.1%
InterestRs m268246217-11.9%-19.3%
Profit before taxRs m1,307370331-10.4%-74.7%
TaxRs m0000.0%0.0%
Profit after taxRs m1,307370331-10.4%-74.7%
Gross profit margin%20.011.411.5
Effective tax rate%0.00.00.0
Net profit margin%13.74.54.3
* 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 19.8% on a year-on-year (YoY) basis. The expenses were down by 11.3% YoY during the same period.
  • The company's operating profit declined by 53.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.5% in 2QFY20 as against 20.0% in 2QFY19.
  • Depreciation charges increased by 0.1% and finance costs declined by 19.3% YoY, respectively.
  • Other income declined by 27.1% YoY during the quarter.
  • Net profit for the quarter declined by 74.7% YoY. Net profit margins during the quarter declined from 13.7% in 2QFY19 to 4.3% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.8% QoQ during the same period.
  • The company's operating profit declined by 6.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.5% in 2QFY20 as against 11.4% in 1QFY19.
  • Net profit for the quarter declined by 10.4% QoQ, while net profit margins declined from 4.5% in 1QFY19 to 4.3% in 2QFY20.

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

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PRAKASH INDUSTRIES Share Price Performance

Over the last one year,PRAKASH INDUSTRIES share price has moved down from Rs 112.5 to Rs 51.0, registering a Loss of Rs 61.6 or around 54.7%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 24,960.7 (up 0.1%). Over the last one year it has moved up from 19,780.8 to 24,960.7, a gain of 5,180 points (up 26.2%).

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 51.0, the price to earnings (P/E) ratio of PRAKASH INDUSTRIES stands at 2.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.