ELECON ENGINEERING Announces Quarterly Results (4QFY19); Net Profit Down 83.5%

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ELECON ENGINEERING Announces Quarterly Results (4QFY19); Net Profit Down 83.5%
Thu, 9 May

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

ELECON ENGINEERING Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m4,3712,7263,26219.7%-25.4%
Other incomeRs m2611225-78.1%-5.7%
TurnoverRs m4,3972,8393,28715.8%-25.3%
ExpensesRs m3,6052,4942,81712.9%-21.9%
Gross profitRs m78123244591.8%-43.0%
DepreciationRs m146120117-2.1%-19.8%
InterestRs m15615820026.4%27.9%
Profit before taxRs m50466153129.7%-69.7%
TaxRs m-30486433.9%
Profit after taxRs m5341888382.0%-83.5%
Gross profit margin%17.98.513.6
Effective tax rate%-5.972.542.2
Net profit margin%12.10.62.7
* 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 25.4% on a year-on-year (YoY) basis. The expenses were down by 21.9% YoY during the same period.
  • The company's operating profit declined by 43.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.6% in 4QFY19 as against 17.9% in 4QFY18.
  • Depreciation charges declined by 19.8% and finance costs increased by 27.9% YoY, respectively.
  • Other income declined by 5.7% YoY during the quarter.
  • Net profit for the quarter declined by 83.5% YoY. Net profit margins during the quarter declined from 12.1% in 4QFY18 to 2.7% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 19.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.9% QoQ during the same period.
  • The company's operating profit increased by 91.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.6% in 4QFY19 as against 8.5% in 3QFY18.
  • Net profit for the quarter increased by 382.0% QoQ, while net profit margins increased from 0.6% in 3QFY18 to 2.7% in 4QFY19.

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 75.1 to Rs 52.5, registering a Loss of Rs 22.6 or around 30.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,720.2 (down 0.4%). Over the last one year it has moved down from 19,243.1 to 17,720.2, a gain of 1,523 points (down 7.9%).

Overall, the S&P BSE SENSEX is up 6.9% over the year.

Current Valuations

At the current price of Rs 52.5, the price to earnings (P/E) ratio of ELECON ENGINEERING stands at 8.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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