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ELECTROSTEEL CAST Announces Quarterly Results (2QFY19); Net Profit Down 3009.9%

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ELECTROSTEEL CAST Announces Quarterly Results (2QFY19); Net Profit Down 3009.9%
Wed, 14 Nov

ELECTROSTEEL CAST has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

ELECTROSTEEL CAST Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m4,2354,8945,63415.1%33.0%
Other incomeRs m145155149-3.4%3.1%
TurnoverRs m4,3805,0485,78314.6%32.1%
ExpensesRs m3,7034,1734,70812.8%27.1%
Gross profitRs m531-5,066-1,187-323.3%
DepreciationRs m152142141-0.7%-7.1%
InterestRs m529657547-16.7%3.5%
Profit before taxRs m-4-5,710-1,725
TaxRs m-4127-642-2471.4%
Profit after taxRs m37-5,737-1,083-3009.9%
Gross profit margin%12.5-103.5-21.1
Effective tax rate%1,021.3-0.537.2
Net profit margin%0.8-113.6-18.7
* 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 grew 33.0% on a year-on-year (YoY) basis. The expenses were up by 27.1% YoY during the same period.
  • The company's operating profit declined by 323.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.1% in 2QFY19 as against 12.5% in 2QFY18.
  • Depreciation charges declined by 7.1% and finance costs increased by 3.5% YoY, respectively.
  • Other income increased by 3.1% YoY during the quarter.
  • Net profit for the quarter declined by 3009.9% YoY. Net profit margins during the quarter declined from 0.8% in 2QFY18 to -18.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 15.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.8% QoQ during the same period.
  • The company's operating profit increased by 76.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.1% in 2QFY19 as against 103.5% in 1QFY18.
  • Net profit for the quarter increased by 81.1% QoQ, while net profit margins increased from -113.6% in 1QFY18 to -18.7% in 2QFY19.

To see how ELECTROSTEEL CAST has performed over the last eight quarters, please visit here.

ELECTROSTEEL CAST Share Price Performance

Over the last one year, ELECTROSTEEL CAST share price has moved up from Rs 30.6 to Rs 21.8, registering a Loss of Rs 8.9 or around 28.9%.

Overall, the S&P BSE SENSEX is up 6.5% over the year.

Current Valuations

At the current price of Rs 21.8, the price to book value (P/BV) ratio of ELECTROSTEEL CAST stands at 0.4 times.

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