GRASIM IND. Announces Quarterly Results (2QFY19); Net Profit Down 222.4%

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GRASIM IND. Announces Quarterly Results (2QFY19); Net Profit Down 222.4%
Fri, 16 Nov

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

GRASIM IND. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m136,457168,567167,950-0.4%23.1%
Other incomeRs m2,8952,3303,01529.4%4.1%
TurnoverRs m139,352170,897170,9650.0%22.7%
ExpensesRs m111,301138,781142,4212.6%28.0%
Gross profitRs m24,43530,203-52-100.2%-100.2%
DepreciationRs m7,9487,6718,0575.0%1.4%
InterestRs m4,3004,0634,1291.6%-4.0%
Profit before taxRs m15,08320,799-9,224-144.3%-161.2%
TaxRs m4,4616,8033,775-44.5%-15.4%
Profit after taxRs m10,62213,995-12,999-192.9%-222.4%
Gross profit margin%17.917.90.0
Effective tax rate%29.632.7-40.9
Net profit margin%7.68.2-7.6
* 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 23.1% on a year-on-year (YoY) basis. The expenses were up by 28.0% YoY during the same period.
  • The company's operating profit declined by 100.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.0% in 2QFY19 as against 17.9% in 2QFY18.
  • Depreciation charges increased by 1.4% and finance costs declined by 4.0% YoY, respectively.
  • Other income increased by 4.1% YoY during the quarter.
  • Net profit for the quarter declined by 222.4% YoY. Net profit margins during the quarter declined from 7.6% in 2QFY18 to -7.6% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.6% QoQ during the same period.
  • The company's operating profit declined by 100.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.0% in 2QFY19 as against 17.9% in 1QFY18.
  • Net profit for the quarter declined by 192.9% QoQ, while net profit margins declined from 8.2% in 1QFY18 to -7.6% in 2QFY19.

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

GRASIM IND. Share Price Performance

Over the last one year, GRASIM IND. share price has moved up from Rs 1,158.7 to Rs 816.9, registering a Loss of Rs 341.9 or around 29.5%.

Overall, the S&P BSE SENSEX is up 8.4% over the year.

Current Valuations

At the current price of Rs 816.9, the price to earnings (P/E) ratio of GRASIM IND. stands at 17.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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