RAYMOND Announces Quarterly Results (4QFY18); Net Profit Up 38.7%

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RAYMOND Announces Quarterly Results (4QFY18); Net Profit Up 38.7%
Fri, 20 Jul

RAYMOND has announced its results for the quarter ended March 2018. Here is a detailed performance review of the same:

RAYMOND Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Net SalesRs m7,76414,84216,2989.8%109.9%
Other incomeRs m289293253-13.7%-12.5%
TurnoverRs m8,05315,13616,5519.4%105.5%
ExpensesRs m6,91213,82714,7927.0%114.0%
Gross profitRs m8511,0151,50748.4%77.1%
DepreciationRs m28043050918.3%81.9%
InterestRs m3344574897.1%46.6%
Profit before taxRs m52642276280.6%44.7%
TaxRs m15112724189.3%59.6%
Profit after taxRs m37529452176.8%38.7%
Gross profit margin%11.06.89.2
Effective tax rate%28.730.231.6
Net profit margin%4.71.93.1
* 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 109.9% on a year-on-year (YoY) basis. The expenses were up by 114.0% YoY during the same period.
  • The company's operating profit increased by 77.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.2% in 4QFY18 as against 11.0% in 4QFY17.
  • Depreciation charges and finance costs increased by 81.9% YoY and 46.6% YoY, respectively.
  • Other income declined by 12.5% YoY during the quarter.
  • Net profit for the quarter increased by 38.7% YoY. Net profit margins during the quarter declined from 4.7% in 4QFY17 to 3.1% in 4QFY18.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 9.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.0% QoQ during the same period.
  • The company's operating profit increased by 48.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.2% in 4QFY18 as against 6.8% in 3QFY17.
  • Net profit for the quarter increased by 76.8% QoQ, while net profit margins increased from 1.9% in 3QFY17 to 3.1% in 4QFY18.

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

RAYMOND Share Price Performance

Over the last one year, RAYMOND share price has moved up from Rs 808.5 to Rs 800.0, registering a Loss of Rs -8.5 or around 1.1%.

Overall, the S&P BSE SENSEX is up 0.3% over the year.

Current Valuations

At the current price of Rs 800.0, the price to earnings (P/E) ratio of RAYMOND stands at 33.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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For the quarter ended December 2019, RAYMOND has posted a net profit of Rs 376 m (down 16.7% YoY). Sales on the other hand came in at Rs 19 bn (up 12.6% YoY). Read on for a complete analysis of RAYMOND's quarterly results.

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