ELGI EQUIPMENTS Announces Quarterly Results (3QFY19); Net Profit Down 17.2%

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ELGI EQUIPMENTS Announces Quarterly Results (3QFY19); Net Profit Down 17.2%
Mon, 4 Feb

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

ELGI EQUIPMENTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m4,1544,5184,7024.1%13.2%
Other incomeRs m242721-22.4%-13.1%
TurnoverRs m4,1784,5454,7223.9%13.0%
ExpensesRs m3,6794,0844,2273.5%14.9%
Gross profitRs m4754344759.3%-0.1%
DepreciationRs m11512514516.4%25.9%
InterestRs m14232716.9%99.4%
Profit before taxRs m3703133233.2%-12.7%
TaxRs m91769221.9%1.2%
Profit after taxRs m278237230-2.7%-17.2%
Gross profit margin%11.49.610.1
Effective tax rate%24.724.228.6
Net profit margin%6.75.24.9
* 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 13.2% on a year-on-year (YoY) basis. The expenses were up by 14.9% YoY during the same period.
  • The company's operating profit declined by 0.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.1% in 3QFY19 as against 11.4% in 3QFY18.
  • Depreciation charges increased by 25.9% and finance costs increased by 99.4% YoY, respectively.
  • Other income declined by 13.1% YoY during the quarter.
  • Net profit for the quarter declined by 17.2% YoY. Net profit margins during the quarter declined from 6.7% in 3QFY18 to 4.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.5% QoQ during the same period.
  • The company's operating profit increased by 9.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.1% in 3QFY19 as against 9.6% in 2QFY18.
  • Net profit for the quarter declined by 2.7% QoQ, while net profit margins declined from 5.2% in 2QFY18 to 4.9% in 3QFY19.

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 up from Rs 313.6 to Rs 237.0, registering a Loss of Rs 76.6 or around 24.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,322.8 (down 0.8%). Over the last one year it has moved down from 19,939.3 to 17,322.8, a gain of 2,617 points (down 13.1%).

Overall, the S&P BSE SENSEX is up 1.2% over the year.

Current Valuations

At the current price of Rs 237.0, the price to earnings (P/E) ratio of ELGI EQUIPMENTS stands at 40.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.5 times.

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