BHARAT ELECTRONICS Announces Quarterly Results (4QFY19); Net Profit Up 19.7%

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BHARAT ELECTRONICS Announces Quarterly Results (4QFY19); Net Profit Up 19.7%
Mon, 3 Jun

BHARAT ELECTRONICS has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

BHARAT ELECTRONICS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m36,08527,16538,84643.0%7.7%
Other incomeRs m2791761,288630.9%361.6%
TurnoverRs m36,36427,34140,13446.8%10.4%
ExpensesRs m28,12319,48429,55651.7%5.1%
Gross profitRs m7,9627,6819,29020.9%16.7%
DepreciationRs m76679793317.0%21.8%
InterestRs m1001190.0%1130.9%
Profit before taxRs m7,4657,0609,52634.9%27.6%
TaxRs m1,8781,9842,84043.1%51.2%
Profit after taxRs m5,5875,0766,68631.7%19.7%
Gross profit margin%22.128.323.9
Effective tax rate%25.228.129.8
Net profit margin%15.418.616.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 7.7% on a year-on-year (YoY) basis. The expenses were up by 5.1% YoY during the same period.
  • The company's operating profit increased by 16.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.9% in 4QFY19 as against 22.1% in 4QFY18.
  • Depreciation charges increased by 21.8% and finance costs increased by 1130.9% YoY, respectively.
  • Other income increased by 361.6% YoY during the quarter.
  • Net profit for the quarter increased by 19.7% YoY. Net profit margins during the quarter increased from 15.4% in 4QFY18 to 16.7% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 43.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 51.7% QoQ during the same period.
  • The company's operating profit declined by 20.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.9% in 4QFY19 as against 28.3% in 3QFY18.
  • Net profit for the quarter increased by 31.7% QoQ, while net profit margins declined from 18.6% in 3QFY18 to 16.7% in 4QFY19.

To see how BHARAT ELECTRONICS has performed over the last eight quarters, please visit here.

BHARAT ELECTRONICS Share Price Performance

Over the last one year, BHARAT ELECTRONICS share price has moved up from Rs 111.4 to Rs 111.4, registering a Loss of Rs 0.0 or around 0.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 19,932.5 (down 0.0%). Over the last one year it has moved up from 18,694.9 to 19,932.5, a gain of 1,238 points (up 6.6%).

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 111.4, the price to earnings (P/E) ratio of BHARAT ELECTRONICS stands at 12.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.1 times.

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