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V GUARD INDUSTRIES Announces Quarterly Results (1QFY21); Net Profit Down 93.1%

V GUARD INDUSTRIES Announces Quarterly Results (1QFY21); Net Profit Down 93.1%
Wed, 26 Aug

V GUARD INDUSTRIES has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

V GUARD INDUSTRIES Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-19*	3 Mar-20*	3 Jun-20*	QoQ Change	YoY Change
Net Sales	Rs m	6,994	5,366	4,058	-24.4%	-42.0%
Other income	Rs m	64	52	47	-9.6%	-27.3%
Turnover	Rs m	7,058	5,418	4,105	-24.2%	-41.8%
Expenses	Rs m	6,283	4,915	3,968	-19.3%	-36.8%
Gross profit	Rs m	711	452	91	-79.9%	-87.3%
Depreciation	Rs m	67	71	79	11.1%	16.8%
Interest	Rs m	11	9	11	26.0%	2.1%
Profit before tax	Rs m	698	424	48	-88.7%	-93.1%
Tax	Rs m	173	99	12	-88.2%	-93.2%
Profit after tax	Rs m	525	325	36	-88.9%	-93.1%
Gross profit margin	%	10.2	8.4	2.2
Effective tax rate	%	24.8	23.3	24.4
Net profit margin	%	7.4	6.0	0.9

* 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 42.0% on a year-on-year (YoY) basis. The expenses were down by 36.8% YoY during the same period.
The company's operating profit declined by 87.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.2% in 1QFY21 as against 10.2% in 1QFY20.
Depreciation charges increased by 16.8% and finance costs increased by 2.1% YoY, respectively.
Other income declined by 27.3% YoY during the quarter.
Net profit for the quarter declined by 93.1% YoY. Net profit margins during the quarter declined from 7.4% in 1QFY20 to 0.9% in 1QFY21.

Quarter-on-Quarter Performance:

The company's operating income during the quarter fell 24.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 19.3% QoQ during the same period.
The company's operating profit declined by 79.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.2% in 1QFY21 as against 8.4% in 4QFY20.
Net profit for the quarter declined by 88.9% QoQ, while net profit margins declined from 6.0% in 4QFY20 to 0.9% in 1QFY21.

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

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V GUARD INDUSTRIES Share Price Performance

Over the last one year,V GUARD INDUSTRIES share price has moved down from Rs 227.6 to Rs 177.3, registering a Loss of Rs 50.3 or around 22.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 14,218.9 (down 0.2%). Over the last one year it has moved down from 16,914.2 to 14,218.9, a gain of 2,695 points (down 15.9%).

Overall, the S&P BSE SENSEX is up 3.7% over the year.

Current Valuations