ASIAN PAINTS Announces Quarterly Results (2QFY19); Net Profit Down 2.6%

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ASIAN PAINTS Announces Quarterly Results (2QFY19); Net Profit Down 2.6%
Thu, 25 Oct

ASIAN PAINTS has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

ASIAN PAINTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m42,74243,98646,3915.5%8.5%
Other incomeRs m5346176332.7%18.6%
TurnoverRs m43,27644,60247,0245.4%8.7%
ExpensesRs m34,73135,24238,5499.4%11.0%
Gross profitRs m8,0118,7457,842-10.3%-2.1%
DepreciationRs m8899069474.6%6.6%
InterestRs m888812138.2%38.2%
Profit before taxRs m7,5698,3687,406-11.5%-2.1%
TaxRs m2,4592,7702,427-12.4%-1.3%
Profit after taxRs m5,1105,5994,979-11.1%-2.6%
Gross profit margin%18.719.916.9
Effective tax rate%32.533.132.8
Net profit margin%11.812.610.6
* 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 grew 8.5% on a year-on-year (YoY) basis. The expenses were up by 11.0% YoY during the same period.
  • The company's operating profit declined by 2.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.9% in 2QFY19 as against 18.7% in 2QFY18.
  • Depreciation charges and finance costs increased by 6.6% YoY and 38.2% YoY, respectively.
  • Other income increased by 18.6% YoY during the quarter.
  • Net profit for the quarter declined by 2.6% YoY. Net profit margins during the quarter declined from 11.8% in 2QFY18 to 10.6% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 9.4% QoQ during the same period.
  • The company's operating profit declined by 10.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.9% in 2QFY19 as against 19.9% in 1QFY18.
  • Net profit for the quarter declined by 11.1% QoQ, while net profit margins declined from 12.6% in 1QFY18 to 10.6% in 2QFY19.

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

ASIAN PAINTS Share Price Performance

Over the last one year, ASIAN PAINTS share price has moved up from Rs 1,202.6 to Rs 1,195.0, registering a Loss of Rs 7.6 or around 0.6%.

Overall, the S&P BSE SENSEX is up 3.3% over the year.

Current Valuations

At the current price of Rs 1,195.0, the price to earnings (P/E) ratio of ASIAN PAINTS stands at 54.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 13.6 times.

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