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EICHER MOTOR Announces Quarterly Results (3QFY19); Net Profit Down 5.6%

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EICHER MOTOR Announces Quarterly Results (3QFY19); Net Profit Down 5.6%
Fri, 15 Feb

EICHER MOTOR has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

EICHER MOTOR Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m22,69024,08223,411-2.8%3.2%
Other incomeRs m4759401,47156.6%209.9%
TurnoverRs m23,16525,02124,882-0.6%7.4%
ExpensesRs m15,61816,78916,615-1.0%6.4%
Gross profitRs m7,6917,1186,795-4.5%-11.6%
DepreciationRs m6497227686.5%18.3%
InterestRs m1618195.6%19.0%
Profit before taxRs m7,5017,3187,4792.2%-0.3%
TaxRs m2,2962,6022,565-1.4%11.7%
Profit after taxRs m5,2054,7164,9154.2%-5.6%
Gross profit margin%33.929.629.0
Effective tax rate%30.635.634.3
Net profit margin%22.518.819.8
* 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 3.2% on a year-on-year (YoY) basis. The expenses were up by 6.4% YoY during the same period.
  • The company's operating profit declined by 11.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 29.0% in 3QFY19 as against 33.9% in 3QFY18.
  • Depreciation charges increased by 18.3% and finance costs increased by 19.0% YoY, respectively.
  • Other income increased by 209.9% YoY during the quarter.
  • Net profit for the quarter declined by 5.6% YoY. Net profit margins during the quarter declined from 22.5% in 3QFY18 to 19.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.0% QoQ during the same period.
  • The company's operating profit declined by 4.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 29.0% in 3QFY19 as against 29.6% in 2QFY18.
  • Net profit for the quarter increased by 4.2% QoQ, while net profit margins increased from 18.8% in 2QFY18 to 19.8% in 3QFY19.

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 up from Rs 28,322.4 to Rs 20,121.0, registering a Loss of Rs 8,201.4 or around 29.0%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,223.7 (down 1.4%). Over the last one year it has moved down from 25,187.9 to 18,223.7, a gain of 6,964 points (down 27.6%).

Overall, the S&P BSE SENSEX is up 4.4% over the year.

Current Valuations

At the current price of Rs 20,121.0, the price to earnings (P/E) ratio of EICHER MOTOR stands at 26.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.8 times.

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