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WEST COAST PAPER MILLS Announces Quarterly Results (3QFY19); Net Profit Up 57.3%

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WEST COAST PAPER MILLS Announces Quarterly Results (3QFY19); Net Profit Up 57.3%
Fri, 15 Feb

WEST COAST PAPER MILLS has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

WEST COAST PAPER MILLS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m4,0865,0484,354-13.8%6.6%
Other incomeRs m8825276.7%-69.7%
TurnoverRs m4,1745,0734,380-13.7%5.0%
ExpensesRs m3,3553,6983,260-11.8%-2.8%
Gross profitRs m7301,3501,093-19.0%49.7%
DepreciationRs m2874254465.0%55.5%
InterestRs m5310324-76.8%-55.0%
Profit before taxRs m478847650-23.3%36.0%
TaxRs m49-38-25-151.9%
Profit after taxRs m430885675-23.7%57.3%
Gross profit margin%17.926.725.1
Effective tax rate%10.2-4.4-3.9
Net profit margin%10.317.415.4
* 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 6.6% on a year-on-year (YoY) basis. The expenses were down by 2.8% YoY during the same period.
  • The company's operating profit increased by 49.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.1% in 3QFY19 as against 17.9% in 3QFY18.
  • Depreciation charges increased by 55.5% and finance costs declined by 55.0% YoY, respectively.
  • Other income declined by 69.7% YoY during the quarter.
  • Net profit for the quarter increased by 57.3% YoY. Net profit margins during the quarter increased from 10.3% in 3QFY18 to 15.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 13.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 11.8% QoQ during the same period.
  • The company's operating profit declined by 19.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.1% in 3QFY19 as against 26.7% in 2QFY18.
  • Net profit for the quarter declined by 23.7% QoQ, while net profit margins declined from 17.4% in 2QFY18 to 15.4% in 3QFY19.

To see how WEST COAST PAPER MILLS has performed over the last eight quarters, please visit here.

WEST COAST PAPER MILLS Share Price Performance

Over the last one year, WEST COAST PAPER MILLS share price has moved up from Rs 271.5 to Rs 232.5, registering a Loss of Rs 39.0 or around 14.4%.

Overall, the S&P BSE SENSEX is up 4.5% over the year.

Current Valuations

At the current price of Rs 232.5, the price to earnings (P/E) ratio of WEST COAST PAPER MILLS stands at 4.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.6 times.

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For the quarter ended September 2018, WEST COAST PAPER MILLS has posted a net profit of Rs 885 m (up 85.2% YoY). Sales on the other hand came in at Rs 5 bn (up 19.8% YoY). Read on for a complete analysis of WEST COAST PAPER MILLS's quarterly results.

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