KIRLOSKAR BROS. Announces Quarterly Results (3QFY19); Net Profit Up 41.8%

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KIRLOSKAR BROS. Announces Quarterly Results (3QFY19); Net Profit Up 41.8%
Mon, 28 Jan

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

KIRLOSKAR BROS. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m4,4214,8825,1806.1%17.2%
Other incomeRs m39122-38-131.1%-197.4%
TurnoverRs m4,4605,0045,1422.8%15.3%
ExpensesRs m4,1874,5824,8105.0%14.9%
Gross profitRs m23430037023.3%58.1%
DepreciationRs m8889934.5%5.7%
InterestRs m6567739.0%12.3%
Profit before taxRs m120266166-37.6%38.3%
TaxRs m296637-43.9%27.6%
Profit after taxRs m91200129-35.5%41.8%
Gross profit margin%5.36.17.1
Effective tax rate%24.224.822.3
Net profit margin%2.04.02.5
* 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 17.2% on a year-on-year (YoY) basis. The expenses were up by 14.9% YoY during the same period.
  • The company's operating profit increased by 58.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.1% in 3QFY19 as against 5.3% in 3QFY18.
  • Depreciation charges increased by 5.7% and finance costs increased by 12.3% YoY, respectively.
  • Other income declined by 197.4% YoY during the quarter.
  • Net profit for the quarter increased by 41.8% YoY. Net profit margins during the quarter increased from 2.0% in 3QFY18 to 2.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.0% QoQ during the same period.
  • The company's operating profit increased by 23.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.1% in 3QFY19 as against 6.1% in 2QFY18.
  • Net profit for the quarter declined by 35.5% QoQ, while net profit margins declined from 4.0% in 2QFY18 to 2.5% in 3QFY19.

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

KIRLOSKAR BROS. Share Price Performance

Over the last one year, KIRLOSKAR BROS. share price has moved up from Rs 339.6 to Rs 143.9, registering a Loss of Rs 195.7 or around 57.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,269.9 (up 0.6%). Over the last one year it has moved down from 20,634.8 to 17,269.9, a gain of 3,365 points (down 16.3%).

Overall, the S&P BSE SENSEX is down 0.6% over the year.

Current Valuations

At the current price of Rs 143.9, the price to earnings (P/E) ratio of KIRLOSKAR BROS. stands at 13.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.

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