CG POWER & INDUSTRIAL SOLUTIONS LTD Announces Quarterly Results (2QFY19); Net Profit Down 46.2%

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CG POWER & INDUSTRIAL SOLUTIONS LTD Announces Quarterly Results (2QFY19); Net Profit Down 46.2%
Thu, 15 Nov

CG POWER & INDUSTRIAL SOLUTIONS LTD has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

CG POWER & INDUSTRIAL SOLUTIONS LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m9,59712,03916,50037.1%71.9%
Other incomeRs m358845-49.3%26.9%
TurnoverRs m9,63212,12716,54536.4%71.8%
ExpensesRs m8,39010,36614,87743.5%77.3%
Gross profitRs m1,2071,6731,492-10.8%23.6%
DepreciationRs m32313791121.9%1098.7%
InterestRs m157152574277.4%265.7%
Profit before taxRs m1,0541,578584-63.0%-44.6%
TaxRs m346535203-62.0%-41.2%
Profit after taxRs m7081,043381-63.5%-46.2%
Gross profit margin%12.613.99.0
Effective tax rate%32.833.934.8
Net profit margin%7.48.62.3
* 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 71.9% on a year-on-year (YoY) basis. The expenses were up by 77.3% YoY during the same period.
  • The company's operating profit increased by 23.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.0% in 2QFY19 as against 12.6% in 2QFY18.
  • Depreciation charges increased by 1098.7% and finance costs increased by 265.7% YoY, respectively.
  • Other income increased by 26.9% YoY during the quarter.
  • Net profit for the quarter declined by 46.2% YoY. Net profit margins during the quarter declined from 7.4% in 2QFY18 to 2.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 37.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 43.5% QoQ during the same period.
  • The company's operating profit declined by 10.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.0% in 2QFY19 as against 13.9% in 1QFY18.
  • Net profit for the quarter declined by 63.5% QoQ, while net profit margins declined from 8.6% in 1QFY18 to 2.3% in 2QFY19.

To see how CG POWER & INDUSTRIAL SOLUTIONS LTD has performed over the last eight quarters, please visit here.

CG POWER & INDUSTRIAL SOLUTIONS LTD Share Price Performance

Over the last one year, CG POWER & INDUSTRIAL SOLUTIONS LTD share price has moved up from Rs 79.7 to Rs 34.3, registering a Loss of Rs 45.4 or around 57.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,437.2 (up 0.7%). Over the last one year it has moved up from 18,070.5 to 18,437.2, a gain of 367 points (up 2.0%).

Overall, the S&P BSE SENSEX is up 6.8% over the year.

Current Valuations

At the current price of Rs 34.3, the price to earnings (P/E) ratio of CG POWER & INDUSTRIAL SOLUTIONS LTD stands at 24.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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