EICHER MOTOR Announces Quarterly Results (2QFY20); Net Profit Up 19.7%

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EICHER MOTOR Announces Quarterly Results (2QFY20); Net Profit Up 19.7%
Tue, 12 Nov

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

EICHER MOTOR Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m24,08223,81921,925-8.0%-9.0%
Other incomeRs m9401,2041,45020.5%54.4%
TurnoverRs m25,02125,02323,375-6.6%-6.6%
ExpensesRs m16,78917,67516,510-6.6%-1.7%
Gross profitRs m7,1186,1455,414-11.9%-23.9%
DepreciationRs m7228768982.5%24.5%
InterestRs m184744-5.4%148.3%
Profit before taxRs m7,3186,4265,922-7.8%-19.1%
TaxRs m2,6022,074278-86.6%-89.3%
Profit after taxRs m4,7164,3525,64429.7%19.7%
Gross profit margin%29.625.824.7
Effective tax rate%35.632.34.7
Net profit margin%18.817.424.1
* 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 9.0% on a year-on-year (YoY) basis. The expenses were down by 1.7% YoY during the same period.
  • The company's operating profit declined by 23.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.7% in 2QFY20 as against 29.6% in 2QFY19.
  • Depreciation charges increased by 24.5% and finance costs increased by 148.3% YoY, respectively.
  • Other income increased by 54.4% YoY during the quarter.
  • Net profit for the quarter increased by 19.7% YoY. Net profit margins during the quarter increased from 18.8% in 2QFY19 to 24.1% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 8.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.6% QoQ during the same period.
  • The company's operating profit declined by 11.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.7% in 2QFY20 as against 25.8% in 1QFY19.
  • Net profit for the quarter increased by 29.7% QoQ, while net profit margins increased from 17.4% in 1QFY19 to 24.1% in 2QFY20.

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

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EICHER MOTOR Share Price Performance

Over the last one year,EICHER MOTOR share price has moved down from Rs 21,977.3 to Rs 21,363.1, registering a Loss of Rs 614.2 or around 2.8%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,290.0 (down 0.4%). Over the last one year it has moved down from 20,364.5 to 18,290.0, a gain of 2,074 points (down 10.2%).

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 21,363.1, the price to earnings (P/E) ratio of EICHER MOTOR stands at 29.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.5 times.

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