Adding to the above, the margins have been severely compressed
| IOL CHEMICALS & PHARMACEUTICALS LTD | |||
|---|---|---|---|
| YOY | Sep-20 | Sep-21 | Sep-22 |
| Sales | 533.48 | 537.88 | 541.41 |
| Operating Profit | 152.12 | 43.80 | 31.67 |
| Net profit | 127.54 | 30.84 | 15.67 |
| OPM | 33% | 8% | 6% |
| Margin after Tax | 28% | 6% | 3% |
QonQ does not give much confidence
| QonQ | Jun-22 | Sep-22 | QoQ |
|---|---|---|---|
| Sales | 565.01 | 541.41 | -4% |
| Operating Profit | 56.02 | 31.67 | -43% |
| Net profit | 34.89 | 15.67 | -55% |
| OPM | 10% | 6% | -41% |
| Margin after Tax | 6% | 3% | -53% |
Sales are climbing slightly, but the margins…
As far I can see, unless there is a reason for future upside, it does not look promising
Contrary opinions welcome.
Disc: Not invested.
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