KAVERI SEED Announces Quarterly Results (1QFY22); Net Profit Down 30.9%

Mon, 16 Aug

KAVERI SEED has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

KAVERI SEED Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-20*	3 Mar-21*	3 Jun-21*	QoQ Change	YoY Change
Net Sales	Rs m	7,195	643	6,298	880.2%	-12.5%
Other income	Rs m	235	42	151	256.4%	-35.8%
Turnover	Rs m	7,430	685	6,449	841.6%	-13.2%
Expenses	Rs m	4,325	801	4,302	437.2%	-0.6%
Gross profit	Rs m	2,869	-158	1,996		-30.4%
Depreciation	Rs m	55	56	48	-15.0%	-12.3%
Interest	Rs m	1	2	0	-79.3%	-78.9%
Profit before tax	Rs m	3,049	-174	2,099		-31.1%
Tax	Rs m	84	4	52	1159.0%	-38.9%
Profit after tax	Rs m	2,964	-178	2,047		-30.9%
Gross profit margin	%	39.9	-24.6	31.7
Effective tax rate	%	2.8	-2.4	2.5
Net profit margin	%	39.9	-26.0	31.7

Year-on-Year Performance:

• The company's operating income during the quarter fell 12.5% on a year-on-year (YoY) basis. The expenses were down by 0.6% YoY during the same period.
• The company's operating profit declined by 30.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.7% in 1QFY22 as against 39.9% in 1QFY21.
• Depreciation charges declined by 12.3% and finance costs declined by 78.9% YoY, respectively.
• Other income declined by 35.8% YoY during the quarter.
• Net profit for the quarter declined by 30.9% YoY. Net profit margins during the quarter declined from 39.9% in 1QFY21 to 31.7% in 1QFY22.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 880.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 437.2% QoQ during the same period.
• The company's operating profit declined by 1361.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 31.7% in 1QFY22 as against 24.6% in 4QFY21.
• Net profit for the quarter increased by 1251.9% QoQ, while net profit margins increased from -26.0% in 4QFY21 to 31.7% in 1QFY22.

To see how KAVERI SEED has performed over the last eight quarters,please visit here.

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KAVERI SEED Share Price Performance

Over the last one year, KAVERI SEED share price has moved up from Rs 603.6 to Rs 604.1, registering a Gain of Rs 0.6 or around 0.1%.

Overall, the S&P BSE SENSEX is up 44.9% over the year.

Current Valuations

At the current price of Rs 604.1, the price to earnings (P/E) ratio of KAVERI SEED stands at 16.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.8 times.