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ELECON ENGINEERING Announces Quarterly Results (2QFY19); Net Profit Up 763.5%

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ELECON ENGINEERING Announces Quarterly Results (2QFY19); Net Profit Up 763.5%
Mon, 12 Nov

ELECON ENGINEERING has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

ELECON ENGINEERING Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m2,4963,0353,2085.7%28.5%
Other incomeRs m13374991252.0%3796.6%
TurnoverRs m2,5093,0723,70720.7%47.7%
ExpensesRs m2,2762,6972,8887.1%26.9%
Gross profitRs m220343319-7.0%45.2%
DepreciationRs m1291201221.5%-6.0%
InterestRs m175164163-0.7%-7.0%
Profit before taxRs m-7197534452.9%
TaxRs m22147120.5%2419.1%
Profit after taxRs m-7375487548.0%
Gross profit margin%8.811.310.0
Effective tax rate%-2.622.28.9
Net profit margin%-2.92.413.1
* 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 grew 28.5% on a year-on-year (YoY) basis. The expenses were up by 26.9% YoY during the same period.
  • The company's operating profit increased by 45.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.0% in 2QFY19 as against 8.8% in 2QFY18.
  • Depreciation charges declined by 6.0% and finance costs declined by 7.0% YoY, respectively.
  • Other income increased by 3796.6% YoY during the quarter.
  • Net profit for the quarter increased by 763.5% YoY. Net profit margins during the quarter increased from -2.9% in 2QFY18 to 13.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.1% QoQ during the same period.
  • The company's operating profit declined by 7.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.0% in 2QFY19 as against 11.3% in 1QFY18.
  • Net profit for the quarter increased by 548.0% QoQ, while net profit margins increased from 2.4% in 1QFY18 to 13.1% in 2QFY19.

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 up from Rs 72.9 to Rs 59.5, registering a Loss of Rs 13.4 or around 18.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,281.2 (up 0.2%). Over the last one year it has moved down from 18,736.1 to 18,281.2, a gain of 455 points (down 2.4%).

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 59.5, the price to earnings (P/E) ratio of ELECON ENGINEERING stands at 6.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.9 times.

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