E.I.D. PARRY Announces Quarterly Results (1QFY22); Net Profit Up 117.1%

Mon, 16 Aug

E.I.D. PARRY has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

E.I.D. PARRY Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-20*	3 Mar-21*	3 Jun-21*	QoQ Change	YoY Change
Net Sales	Rs m	41,421	39,080	43,545	11.4%	5.1%
Other income	Rs m	155	206	573	178.7%	270.9%
Turnover	Rs m	41,575	39,285	44,118	12.3%	6.1%
Expenses	Rs m	37,115	36,058	39,200	8.7%	5.6%
Gross profit	Rs m	4,306	2,880	4,345	50.9%	0.9%
Depreciation	Rs m	838	814	807	-0.9%	-3.7%
Interest	Rs m	888	401	342	-14.6%	-61.5%
Profit before tax	Rs m	2,735	1,870	3,769	101.5%	37.8%
Tax	Rs m	1,454	1,241	989	-20.3%	-32.0%
Profit after tax	Rs m	1,281	629	2,780	341.7%	117.1%
Gross profit margin	%	10.4	7.4	10.0
Effective tax rate	%	53.2	66.3	26.2
Net profit margin	%	3.1	1.6	6.3

Year-on-Year Performance:

• The company's operating income during the quarter grew 5.1% on a year-on-year (YoY) basis. The expenses were up by 5.6% YoY during the same period.
• The company's operating profit increased by 0.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 10.0% in 1QFY22.
• Depreciation charges declined by 3.7% and finance costs declined by 61.5% YoY, respectively.
• Other income increased by 270.9% YoY during the quarter.
• Net profit for the quarter increased by 117.1% YoY. Net profit margins during the quarter increased from 3.1% in 1QFY21 to 6.3% in 1QFY22.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 11.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.7% QoQ during the same period.
• The company's operating profit increased by 50.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.0% in 1QFY22 as against 7.4% in 4QFY21.
• Net profit for the quarter increased by 341.7% QoQ, while net profit margins increased from 1.6% in 4QFY21 to 6.3% in 1QFY22.

To see how E.I.D. PARRY has performed over the last eight quarters,please visit here.

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E.I.D. PARRY Share Price Performance

Over the last one year, E.I.D. PARRY share price has moved up from Rs 281.5 to Rs 410.6, registering a Gain of Rs 129.1 or around 45.9%.

Overall, the S&P BSE SENSEX is up 44.8% over the year.

Current Valuations

At the current price of Rs 410.6, the price to earnings (P/E) ratio of E.I.D. PARRY stands at 6.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.