ETERNAL · Consumer Services
Eternal Ltd. reported revenue of ₹4,206 cr for April to June 2024, +74.1% on the year and +18.1% on the quarter.
Operating profit (EBITDA) was ₹177 cr, a margin of 4.2%, +620 bps on the year and +179 bps on the quarter.
Net profit was ₹253 cr, +12,550.0% on the year and +44.6% on the quarter, with earnings per share of ₹0.29.
On earnings per share of ₹0.69 over the last four quarters, the stock at ₹324.90 trades at 470.9 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Half or more of pre-tax profit came from other income. What is it, and does it repeat?
Other income was 99% of profit before tax.
Source: Quarterly statements
A tax credit added to profit this quarter. Deferred tax recognised, or a reversal?
Profit before tax ₹239 cr; tax −₹14.3 cr, a credit.
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹2,848 cr | ₹3,288 cr | ₹3,562 cr | ₹4,206 cr | ₹4,799 cr | ₹5,405 cr | ₹5,833 cr | ₹7,167 cr | ₹13,590 cr | ₹16,315 cr | ₹17,292 cr | ₹20,211 cr |
| YoY | — | — | — | +74% | +69% | +64% | +64% | +70% | +183% | +202% | +196% | +182% |
| EBITDA margin | −1.7% | 1.6% | 2.4% | 4.2% | 4.7% | 3.0% | 1.2% | 1.6% | 1.8% | 2.3% | 2.8% | 2.9% |
| Other income, % of PBT | 1,010% | 177% | 146% | 99% | 93% | 203% | 379% | 402% | 273% | 205% | 150% | 138% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | — | −11% | −9% | −6% | 26% | 52% | 60% | 72% | 50% | 40% | 24% | 66% |
| Net profit | ₹36.0 cr | ₹138 cr | ₹175 cr | ₹253 cr | ₹176 cr | ₹59.0 cr | ₹39.0 cr | ₹25.0 cr | ₹65.0 cr | ₹102 cr | ₹174 cr | ₹92.0 cr |
| YoY | — | — | — | +12,550% | +389% | −57% | −78% | −90% | −63% | +73% | +346% | +268% |
| Core profit YoY | — | — | — | — | — | — | — | −8,967% | −1,494% | — | — | — |
| EPS | ₹0.04 | ₹0.16 | ₹0.20 | ₹0.29 | ₹0.20 | ₹0.06 | ₹0.04 | ₹0.03 | ₹0.07 | ₹0.11 | ₹0.18 | ₹0.10 |
| Flags | 2 | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 2 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Eternal Ltd. reported revenue of ₹4,206 cr (+74.1% on the year) and net profit of ₹253 cr (+12,550.0% on the year) for April to June 2024.
2 checks raised a question: Half or more of pre-tax profit came from other income. What is it, and does it repeat?
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