CG POWER & INDUSTRIAL SOLUTIONS LTD Announces Quarterly Results (3QFY19); Net Profit Down 198.7%

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CG POWER & INDUSTRIAL SOLUTIONS LTD Announces Quarterly Results (3QFY19); Net Profit Down 198.7%
Tue, 19 Feb

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

CG POWER & INDUSTRIAL SOLUTIONS LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m9,38216,50017,1954.2%83.3%
Other incomeRs m6645115156.0%73.3%
TurnoverRs m9,44816,54517,3104.6%83.2%
ExpensesRs m8,21714,87715,7115.6%91.2%
Gross profitRs m1,1651,492318-78.7%-72.7%
DepreciationRs m323793790.2%1078.3%
InterestRs m15857470823.3%347.3%
Profit before taxRs m1,040584-655-212.1%-162.9%
TaxRs m34520332-84.4%-90.8%
Profit after taxRs m695381-686-280.3%-198.7%
Gross profit margin%12.49.01.9
Effective tax rate%33.234.8-4.8
Net profit margin%7.42.3-4.0
* 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 83.3% on a year-on-year (YoY) basis. The expenses were up by 91.2% YoY during the same period.
  • The company's operating profit declined by 72.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.9% in 3QFY19 as against 12.4% in 3QFY18.
  • Depreciation charges increased by 1078.3% and finance costs increased by 347.3% YoY, respectively.
  • Other income increased by 73.3% YoY during the quarter.
  • Net profit for the quarter declined by 198.7% YoY. Net profit margins during the quarter declined from 7.4% in 3QFY18 to -4.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.6% QoQ during the same period.
  • The company's operating profit declined by 78.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.9% in 3QFY19 as against 9.0% in 2QFY18.
  • Net profit for the quarter declined by 280.3% QoQ, while net profit margins declined from 2.3% in 2QFY18 to -4.0% in 3QFY19.

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 83.0 to Rs 28.3, registering a Loss of Rs 54.7 or around 65.9%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,450.9 (up 0.8%). Over the last one year it has moved down from 18,900.9 to 16,450.9, a gain of 2,450 points (down 13.0%).

Overall, the S&P BSE SENSEX is up 5.5% over the year.

Current Valuations

At the current price of Rs 28.3, the price to earnings (P/E) ratio of CG POWER & INDUSTRIAL SOLUTIONS LTD stands at 35.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.3 times.

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