ELECON ENGINEERING Announces Quarterly Results (3QFY19); Net Profit Up 154.5%

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ELECON ENGINEERING Announces Quarterly Results (3QFY19); Net Profit Up 154.5%
Mon, 11 Feb

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

ELECON ENGINEERING Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m2,5913,2082,726-15.0%5.2%
Other incomeRs m7499112-77.5%1547.3%
TurnoverRs m2,5983,7072,839-23.4%9.3%
ExpensesRs m2,3252,8882,494-13.6%7.3%
Gross profitRs m266319232-27.3%-12.8%
DepreciationRs m130122120-1.4%-8.0%
InterestRs m171163158-3.0%-7.6%
Profit before taxRs m-2853466-87.6%
TaxRs m547481.7%821.0%
Profit after taxRs m-3448718-96.2%
Gross profit margin%10.310.08.5
Effective tax rate%-18.48.972.5
Net profit margin%-1.313.10.6
* 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 5.2% on a year-on-year (YoY) basis. The expenses were up by 7.3% YoY during the same period.
  • The company's operating profit declined by 12.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.5% in 3QFY19 as against 10.3% in 3QFY18.
  • Depreciation charges declined by 8.0% and finance costs declined by 7.6% YoY, respectively.
  • Other income increased by 1547.3% YoY during the quarter.
  • Net profit for the quarter increased by 154.5% YoY. Net profit margins during the quarter increased from -1.3% in 3QFY18 to 0.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 15.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 13.6% QoQ during the same period.
  • The company's operating profit declined by 27.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.5% in 3QFY19 as against 10.0% in 2QFY18.
  • Net profit for the quarter declined by 96.2% QoQ, while net profit margins declined from 13.1% in 2QFY18 to 0.6% in 3QFY19.

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 82.2 to Rs 61.6, registering a Loss of Rs 20.6 or around 25.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,409.9 (down 2.6%). Over the last one year it has moved down from 19,240.4 to 16,409.9, a gain of 2,831 points (down 14.7%).

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 61.6, the price to earnings (P/E) ratio of ELECON ENGINEERING stands at 6.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.9 times.

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