INDIA CEMENTS Announces Quarterly Results (1QFY22); Net Profit Up 136.2%

Mon, 16 Aug

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

INDIA CEMENTS Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-20*	3 Mar-21*	3 Jun-21*	QoQ Change	YoY Change
Net Sales	Rs m	7,635	14,725	10,453	-29.0%	36.9%
Other income	Rs m	84	229	31	-86.3%	-62.8%
Turnover	Rs m	7,719	14,953	10,484	-29.9%	35.8%
Expenses	Rs m	6,072	13,067	8,806	-32.6%	45.0%
Gross profit	Rs m	1,562	1,658	1,647	-0.7%	5.4%
Depreciation	Rs m	612	625	559	-10.7%	-8.7%
Interest	Rs m	746	542	467	-13.9%	-37.5%
Profit before tax	Rs m	288	719	653	-9.2%	126.3%
Tax	Rs m	91	279	186	-33.2%	104.8%
Profit after tax	Rs m	197	440	466	6.0%	136.2%
Gross profit margin	%	20.5	11.3	15.8
Effective tax rate	%	31.6	38.8	28.6
Net profit margin	%	2.6	2.9	4.4

Year-on-Year Performance:

• The company's operating income during the quarter grew 36.9% on a year-on-year (YoY) basis. The expenses were up by 45.0% YoY during the same period.
• The company's operating profit increased by 5.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.8% in 1QFY22 as against 20.5% in 1QFY21.
• Depreciation charges declined by 8.7% and finance costs declined by 37.5% YoY, respectively.
• Other income declined by 62.8% YoY during the quarter.
• Net profit for the quarter increased by 136.2% YoY. Net profit margins during the quarter increased from 2.6% in 1QFY21 to 4.4% in 1QFY22.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 29.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 32.6% QoQ during the same period.
• The company's operating profit declined by 0.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.8% in 1QFY22 as against 11.3% in 4QFY21.
• Net profit for the quarter increased by 6.0% QoQ, while net profit margins increased from 2.9% in 4QFY21 to 4.4% in 1QFY22.

To see how INDIA CEMENTS has performed over the last eight quarters,please visit here.

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INDIA CEMENTS Share Price Performance

Over the last one year, INDIA CEMENTS share price has moved up from Rs 114.2 to Rs 172.7, registering a Gain of Rs 58.5 or around 51.2%.

Overall, the S&P BSE SENSEX is up 45.0% over the year.

Current Valuations

At the current price of Rs 172.7, the price to earnings (P/E) ratio of INDIA CEMENTS stands at 22.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.