SHALIMAR PAINTS Announces Quarterly Results (1QFY20); Net Profit Up 64.0%

Fri, 16 Aug

SHALIMAR PAINTS has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

SHALIMAR PAINTS Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-18*	3 Mar-19*	3 Jun-19*	QoQ Change	YoY Change
Net Sales	Rs m	515	895	851	-5.0%	65.3%
Other income	Rs m	2	13	2	-85.6%	18.8%
Turnover	Rs m	516	908	853	-6.1%	65.2%
Expenses	Rs m	636	1,250	849	-32.1%	33.6%
Gross profit	Rs m	-121	-470	1
Depreciation	Rs m	21	22	22	0.5%	6.8%
Interest	Rs m	62	63	42	-33.4%	-32.4%
Profit before tax	Rs m	-202	-542	-61
Tax	Rs m	-55	-110	-8
Profit after tax	Rs m	-147	-433	-53
Gross profit margin	%	-23.5	-52.6	0.2
Effective tax rate	%	27.2	20.2	12.8
Net profit margin	%	-28.5	-47.6	-6.2

Year-on-Year Performance:

• The company's operating income during the quarter grew 65.3% on a year-on-year (YoY) basis. The expenses were up by 33.6% YoY during the same period.
• The company's operating profit declined by 101.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 0.2% in 1QFY20 as against 23.5% in 1QFY19.
• Depreciation charges increased by 6.8% and finance costs declined by 32.4% YoY, respectively.
• Other income increased by 18.8% YoY during the quarter.
• Net profit for the quarter increased by 64.0% YoY. Net profit margins during the quarter increased from -28.5% in 1QFY19 to -6.2% in 1QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 5.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 32.1% QoQ during the same period.
• The company's operating profit increased by 100.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 0.2% in 1QFY20 as against 52.6% in 4QFY19.
• Net profit for the quarter increased by 87.8% QoQ, while net profit margins increased from -47.7% in 4QFY19 to -6.2% in 1QFY20.

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

SHALIMAR PAINTS Share Price Performance

Over the last one year,SHALIMAR PAINTS share price has moved down from Rs 121.7 to Rs 77.2, registering a Loss of Rs 44.5 or around 36.6%.

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 77.2, the price to book value (P/BV) ratio of SHALIMAR PAINTS stands at 1.1 times.