JINDAL SAW LTD Announces Quarterly Results (4QFY19); Net Profit Down 3.6%

Fri, 24 May

JINDAL SAW LTD has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

JINDAL SAW LTD Quarterly Financials

No. of Mths Qtr. Ending		3 Mar-18*	3 Dec-18*	3 Mar-19*	QoQ Change	YoY Change
Net Sales	Rs m	24,486	23,419	28,443	21.5%	16.2%
Other income	Rs m	401	569	600	5.4%	49.4%
Turnover	Rs m	24,888	23,988	29,042	21.1%	16.7%
Expenses	Rs m	20,528	20,284	24,719	21.9%	20.4%
Gross profit	Rs m	3,958	3,135	3,724	18.8%	-5.9%
Depreciation	Rs m	659	727	711	-2.2%	7.9%
Interest	Rs m	1,253	815	1,225	50.2%	-2.3%
Profit before tax	Rs m	2,448	2,162	2,388	10.5%	-2.4%
Tax	Rs m	864	661	863	30.6%	-0.2%
Profit after tax	Rs m	1,584	1,502	1,526	1.6%	-3.6%
Gross profit margin	%	16.2	13.4	13.1
Effective tax rate	%	35.3	30.6	36.1
Net profit margin	%	6.4	6.3	5.3

Year-on-Year Performance:

• The company's operating income during the quarter grew 16.2% on a year-on-year (YoY) basis. The expenses were up by 20.4% YoY during the same period.
• The company's operating profit declined by 5.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 4QFY19 as against 16.2% in 4QFY18.
• Depreciation charges increased by 7.9% and finance costs declined by 2.3% YoY, respectively.
• Other income increased by 49.4% YoY during the quarter.
• Net profit for the quarter declined by 3.6% YoY. Net profit margins during the quarter declined from 6.4% in 4QFY18 to 5.3% in 4QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 21.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 21.9% QoQ during the same period.
• The company's operating profit declined by 18.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 4QFY19 as against 13.4% in 3QFY18.
• Net profit for the quarter increased by 1.6% QoQ, while net profit margins declined from 6.3% in 3QFY18 to 5.3% in 4QFY19.

To see how JINDAL SAW LTD has performed over the last eight quarters, please visit here.

JINDAL SAW LTD Share Price Performance

Over the last one year, JINDAL SAW LTD share price has moved up from Rs 103.3 to Rs 82.4, registering a Loss of Rs 20.9 or around 20.2%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 10,498.9 (up 0.1%). Over the last one year it has moved down from 13,207.5 to 10,498.9, a gain of 2,709 points (down 20.5%).

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 82.4, the price to earnings (P/E) ratio of JINDAL SAW LTD stands at 4.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.