ELECON ENGINEERING Announces Quarterly Results (1QFY20); Net Profit Down 96.1%

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ELECON ENGINEERING Announces Quarterly Results (1QFY20); Net Profit Down 96.1%
Mon, 29 Jul

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

ELECON ENGINEERING Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m3,0353,2622,714-16.8%-10.6%
Other incomeRs m372511-56.2%-70.9%
TurnoverRs m3,0723,2872,725-17.1%-11.3%
ExpensesRs m2,6972,8172,397-14.9%-11.1%
Gross profitRs m343445317-28.8%-7.6%
DepreciationRs m1201171212.7%0.6%
InterestRs m164200195-2.3%19.1%
Profit before taxRs m9715312-92.0%-87.4%
TaxRs m21649-85.7%-56.9%
Profit after taxRs m75883-96.7%-96.1%
Gross profit margin%11.313.611.7
Effective tax rate%22.242.276.1
Net profit margin%2.42.70.1
* 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 10.6% on a year-on-year (YoY) basis. The expenses were down by 11.1% YoY during the same period.
  • The company's operating profit declined by 7.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.7% in 1QFY20 as against 11.3% in 1QFY19.
  • Depreciation charges increased by 0.6% and finance costs increased by 19.1% YoY, respectively.
  • Other income declined by 70.9% YoY during the quarter.
  • Net profit for the quarter declined by 96.1% YoY. Net profit margins during the quarter declined from 2.4% in 1QFY19 to 0.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 16.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 14.9% QoQ during the same period.
  • The company's operating profit declined by 28.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.7% in 1QFY20 as against 13.6% in 4QFY19.
  • Net profit for the quarter declined by 96.7% QoQ, while net profit margins declined from 2.7% in 4QFY19 to 0.1% in 1QFY20.

To see how ELECON ENGINEERING has performed over the last eight quarters,please visit here.

ELECON ENGINEERING Share Price Performance

Over the last one year,ELECON ENGINEERING share price has moved down from Rs 61.7 to Rs 38.5, registering a Loss of Rs 23.2 or around 37.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,543.6 (down 1.3%). Over the last one year it has moved down from 18,164.6 to 17,543.6, a gain of 621 points (down 3.4%).

Overall, the S&P BSE SENSEX is up 2.3% over the year.

Current Valuations

At the current price of Rs 38.5, the price to earnings (P/E) ratio of ELECON ENGINEERING stands at 7.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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