ELGI EQUIPMENTS Announces Quarterly Results (2QFY20); Net Profit Down 51.7%

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ELGI EQUIPMENTS Announces Quarterly Results (2QFY20); Net Profit Down 51.7%
Tue, 12 Nov

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

ELGI EQUIPMENTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m4,5184,6664,447-4.7%-1.6%
Other incomeRs m273632-12.5%19.7%
TurnoverRs m4,5454,7034,479-4.8%-1.4%
ExpensesRs m4,0844,2554,113-3.3%0.7%
Gross profitRs m434412334-18.8%-23.0%
DepreciationRs m1251521573.2%25.7%
InterestRs m233936-6.6%55.6%
Profit before taxRs m313257173-32.8%-44.7%
TaxRs m769259-36.6%-22.6%
Profit after taxRs m237165114-30.7%-51.7%
Gross profit margin%9.68.87.5
Effective tax rate%24.235.933.9
Net profit margin%5.23.52.6
* 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 fell 1.6% on a year-on-year (YoY) basis. The expenses were up by 0.7% YoY during the same period.
  • The company's operating profit declined by 23.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.5% in 2QFY20 as against 9.6% in 2QFY19.
  • Depreciation charges increased by 25.7% and finance costs increased by 55.6% YoY, respectively.
  • Other income increased by 19.7% YoY during the quarter.
  • Net profit for the quarter declined by 51.7% YoY. Net profit margins during the quarter declined from 5.2% in 2QFY19 to 2.6% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.3% QoQ during the same period.
  • The company's operating profit declined by 18.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.5% in 2QFY20 as against 8.8% in 1QFY19.
  • Net profit for the quarter declined by 30.7% QoQ, while net profit margins declined from 3.5% in 1QFY19 to 2.6% in 2QFY20.

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

LIVE on April 23rd: Has Covid impacted India's long-term growth potential?

ELGI EQUIPMENTS Share Price Performance

Over the last one year,ELGI EQUIPMENTS share price has moved up from Rs 250.0 to Rs 265.1, registering a Gain of Rs 15.1 or around 6.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,294.2 (down 0.2%). Over the last one year it has moved up from 18,167.7 to 18,294.2, a gain of 127 points (up 0.7%).

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 265.1, the price to earnings (P/E) ratio of ELGI EQUIPMENTS stands at 48.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.4 times.

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