CONTAINER CORPORATION Announces Quarterly Results (3QFY21); Net Profit Up 35.6%

Wed, 10 Feb

CONTAINER CORPORATION has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

CONTAINER CORPORATION Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-19*	3 Sep-20*	3 Dec-20*	QoQ Change	YoY Change
Net Sales	Rs m	15,276	15,027	17,538	16.7%	14.8%
Other income	Rs m	626	713	822	15.2%	31.2%
Turnover	Rs m	15,902	15,740	18,360	16.6%	15.5%
Expenses	Rs m	11,559	11,898	13,819	16.2%	19.6%
Gross profit	Rs m	3,717	3,130	3,719	18.8%	0.0%
Depreciation	Rs m	1,263	1,272	1,364	7.3%	8.0%
Interest	Rs m	60	85	84	-1.3%	40.9%
Profit before tax	Rs m	3,021	2,486	3,093	24.4%	2.4%
Tax	Rs m	1,266	610	714	16.9%	-43.6%
Profit after tax	Rs m	1,755	1,876	2,379	26.8%	35.6%
Gross profit margin	%	24.3	20.8	21.2
Effective tax rate	%	41.9	24.5	23.1
Net profit margin	%	11.0	11.9	13.0

Year-on-Year Performance:

• The company's operating income during the quarter grew 14.8% on a year-on-year (YoY) basis. The expenses were up by 19.6% YoY during the same period.
• The company's operating profit increased by 0.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.2% in 3QFY21 as against 24.3% in 3QFY20.
• Depreciation charges increased by 8.0% and finance costs increased by 40.9% YoY, respectively.
• Other income increased by 31.2% YoY during the quarter.
• Net profit for the quarter increased by 35.6% YoY. Net profit margins during the quarter increased from 11.0% in 3QFY20 to 13.0% in 3QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 16.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 16.2% QoQ during the same period.
• The company's operating profit increased by 18.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.2% in 3QFY21 as against 20.8% in 2QFY20.
• Net profit for the quarter increased by 26.8% QoQ, while net profit margins increased from 11.9% in 2QFY20 to 13.0% in 3QFY21.

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

Introducing: The Great Indian Wealth Project

CONTAINER CORPORATION Share Price Performance

Over the last one year, CONTAINER CORPORATION share price has moved down from Rs 572.9 to Rs 494.5, registering a Loss of Rs 78.5 or around 13.7%.

Overall, the S&P BSE SENSEX is up 25.0% over the year.

Current Valuations

At the current price of Rs 494.5, the price to earnings (P/E) ratio of CONTAINER CORPORATION stands at 38.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.