EICHER MOTOR Announces Quarterly Results (1QFY20); Net Profit Down 15.0%

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EICHER MOTOR Announces Quarterly Results (1QFY20); Net Profit Down 15.0%
Thu, 1 Aug

EICHER MOTOR has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

EICHER MOTOR Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m25,47825,00123,819-4.7%-6.5%
Other incomeRs m5961,4271,204-15.6%102.0%
TurnoverRs m26,07426,42825,023-5.3%-4.0%
ExpensesRs m17,38218,15417,675-2.6%1.7%
Gross profitRs m8,0966,8476,145-10.3%-24.1%
DepreciationRs m7028118768.0%24.9%
InterestRs m152147118.2%205.2%
Profit before taxRs m7,9757,4416,426-13.6%-19.4%
TaxRs m2,8562,7482,074-24.5%-27.4%
Profit after taxRs m5,1194,6944,352-7.3%-15.0%
Gross profit margin%31.827.425.8
Effective tax rate%35.836.932.3
Net profit margin%19.617.817.4
* 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 fell 6.5% on a year-on-year (YoY) basis. The expenses were up by 1.7% YoY during the same period.
  • The company's operating profit declined by 24.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.8% in 1QFY20 as against 31.8% in 1QFY19.
  • Depreciation charges increased by 24.9% and finance costs increased by 205.2% YoY, respectively.
  • Other income increased by 102.0% YoY during the quarter.
  • Net profit for the quarter declined by 15.0% YoY. Net profit margins during the quarter declined from 19.6% in 1QFY19 to 17.4% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.6% QoQ during the same period.
  • The company's operating profit declined by 10.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.8% in 1QFY20 as against 27.4% in 4QFY19.
  • Net profit for the quarter declined by 7.3% QoQ, while net profit margins declined from 17.8% in 4QFY19 to 17.4% in 1QFY20.

To see how EICHER MOTOR has performed over the last eight quarters,please visit here.

EICHER MOTOR Share Price Performance

Over the last one year,EICHER MOTOR share price has moved down from Rs 27,301.0 to Rs 16,338.6, registering a Loss of Rs 10,962.4 or around 40.2%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 15,383.4 (down 0.6%). Over the last one year it has moved down from 24,307.5 to 15,383.4, a gain of 8,924 points (down 36.7%).

Overall, the S&P BSE SENSEX is down 1.2% over the year.

Current Valuations

At the current price of Rs 16,338.6, the price to earnings (P/E) ratio of EICHER MOTOR stands at 23.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.3 times.

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