ELGI EQUIPMENTS Announces Quarterly Results (1QFY20); Net Profit Down 9.2%

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ELGI EQUIPMENTS Announces Quarterly Results (1QFY20); Net Profit Down 9.2%
Mon, 5 Aug

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

ELGI EQUIPMENTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m4,1355,2804,666-11.6%12.9%
Other incomeRs m23333610.9%60.0%
TurnoverRs m4,1575,3134,703-11.5%13.1%
ExpensesRs m3,7414,6654,255-8.8%13.7%
Gross profitRs m394615412-33.1%4.5%
DepreciationRs m1051431526.3%44.4%
InterestRs m201939100.5%99.9%
Profit before taxRs m292486257-47.0%-11.9%
TaxRs m11012692-26.6%-16.3%
Profit after taxRs m182360165-54.2%-9.2%
Gross profit margin%9.511.68.8
Effective tax rate%37.825.935.9
Net profit margin%4.46.83.5
* 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 12.9% on a year-on-year (YoY) basis. The expenses were up by 13.7% YoY during the same period.
  • The company's operating profit increased by 4.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.8% in 1QFY20 as against 9.5% in 1QFY19.
  • Depreciation charges increased by 44.4% and finance costs increased by 99.9% YoY, respectively.
  • Other income increased by 60.0% YoY during the quarter.
  • Net profit for the quarter declined by 9.2% YoY. Net profit margins during the quarter declined from 4.4% in 1QFY19 to 3.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 11.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 8.8% QoQ during the same period.
  • The company's operating profit declined by 33.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.8% in 1QFY20 as against 11.6% in 4QFY19.
  • Net profit for the quarter declined by 54.2% QoQ, while net profit margins declined from 6.8% in 4QFY19 to 3.5% in 1QFY20.

To see how ELGI EQUIPMENTS has performed over the last eight quarters,please visit here.

ELGI EQUIPMENTS Share Price Performance

Over the last one year,ELGI EQUIPMENTS share price has moved down from Rs 286.6 to Rs 238.9, registering a Loss of Rs 47.7 or around 16.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,964.4 (down 1.8%). Over the last one year it has moved down from 18,304.9 to 16,964.4, a gain of 1,340 points (down 7.3%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 238.9, the price to earnings (P/E) ratio of ELGI EQUIPMENTS stands at 38.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.5 times.

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