KANSAI NEROLAC Announces Quarterly Results (3QFY19); Net Profit Down 9.9%

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KANSAI NEROLAC Announces Quarterly Results (3QFY19); Net Profit Down 9.9%
Wed, 30 Jan

KANSAI NEROLAC has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

KANSAI NEROLAC Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m11,45012,86313,4364.5%17.3%
Other incomeRs m19821626924.2%35.9%
TurnoverRs m11,64813,07913,7054.8%17.7%
ExpensesRs m9,52810,98911,7376.8%23.2%
Gross profitRs m1,9221,8731,700-9.3%-11.6%
DepreciationRs m1942312351.9%21.4%
InterestRs m0000.0%0.0%
Profit before taxRs m1,9261,8591,733-6.8%-10.0%
TaxRs m675639606-5.1%-10.2%
Profit after taxRs m1,2521,2201,127-7.6%-9.9%
Gross profit margin%16.814.612.6
Effective tax rate%35.034.435.0
Net profit margin%10.79.38.2
* 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 17.3% on a year-on-year (YoY) basis. The expenses were up by 23.2% YoY during the same period.
  • The company's operating profit declined by 11.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.6% in 3QFY19 as against 16.8% in 3QFY18.
  • Depreciation charges increased by 21.4% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 35.9% YoY during the quarter.
  • Net profit for the quarter declined by 9.9% YoY. Net profit margins during the quarter declined from 10.7% in 3QFY18 to 8.2% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.8% QoQ during the same period.
  • The company's operating profit declined by 9.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.6% in 3QFY19 as against 14.6% in 2QFY18.
  • Net profit for the quarter declined by 7.6% QoQ, while net profit margins declined from 9.3% in 2QFY18 to 8.2% in 3QFY19.

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

KANSAI NEROLAC Share Price Performance

Over the last one year, KANSAI NEROLAC share price has moved up from Rs 482.7 to Rs 427.8, registering a Loss of Rs 54.9 or around 11.4%.

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

Current Valuations

At the current price of Rs 427.8, the price to earnings (P/E) ratio of KANSAI NEROLAC stands at 48.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.4 times.

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