FINE ORGANIC INDUSTRIES Announces Quarterly Results (1QFY22); Net Profit Up 25.0%

Mon, 16 Aug

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

FINE ORGANIC INDUSTRIES Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-20*	3 Mar-21*	3 Jun-21*	QoQ Change	YoY Change
Net Sales	Rs m	2,400	3,229	3,576	10.7%	49.0%
Other income	Rs m	15	63	59	-6.4%	288.1%
Turnover	Rs m	2,415	3,292	3,635	10.4%	50.5%
Expenses	Rs m	1,875	2,745	3,056	11.3%	62.9%
Gross profit	Rs m	525	484	520	7.4%	-0.9%
Depreciation	Rs m	111	124	95	-23.2%	-14.5%
Interest	Rs m	18	13	13	4.1%	-25.9%
Profit before tax	Rs m	411	411	471	14.6%	14.6%
Tax	Rs m	120	95	106	12.1%	-10.9%
Profit after tax	Rs m	292	316	365	15.4%	25.0%
Gross profit margin	%	21.9	15.0	14.5
Effective tax rate	%	29.1	23.1	22.6
Net profit margin	%	12.1	9.6	10.0

Year-on-Year Performance:

• The company's operating income during the quarter grew 49.0% on a year-on-year (YoY) basis. The expenses were up by 62.9% YoY during the same period.
• The company's operating profit declined by 0.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.5% in 1QFY22 as against 21.9% in 1QFY21.
• Depreciation charges declined by 14.5% and finance costs declined by 25.9% YoY, respectively.
• Other income increased by 288.1% YoY during the quarter.
• Net profit for the quarter increased by 25.0% YoY. Net profit margins during the quarter declined from 12.1% in 1QFY21 to 10.0% in 1QFY22.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 10.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 11.3% QoQ during the same period.
• The company's operating profit increased by 7.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.5% in 1QFY22 as against 15.0% in 4QFY21.
• Net profit for the quarter increased by 15.4% QoQ, while net profit margins increased from 9.6% in 4QFY21 to 10.0% in 1QFY22.

To see how FINE ORGANIC INDUSTRIES has performed over the last eight quarters,please visit here.

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FINE ORGANIC INDUSTRIES Share Price Performance

Over the last one year, FINE ORGANIC INDUSTRIES share price has moved up from Rs 2,276.4 to Rs 2,860.0, registering a Gain of Rs 583.6 or around 25.6%.

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

Current Valuations

At the current price of Rs 2,860.0, the price to earnings (P/E) ratio of FINE ORGANIC INDUSTRIES stands at 68.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 12.0 times.