ELECTROSTEEL CAST Announces Quarterly Results (3QFY19); Net Profit Up 38.9%

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ELECTROSTEEL CAST Announces Quarterly Results (3QFY19); Net Profit Up 38.9%
Wed, 30 Jan

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

ELECTROSTEEL CAST Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m5,1175,6346,41013.8%25.3%
Other incomeRs m221149142-5.2%-35.9%
TurnoverRs m5,3385,7836,55213.3%22.7%
ExpensesRs m4,4414,7085,40814.9%21.8%
Gross profitRs m676-1,1871,00248.3%
DepreciationRs m152141134-5.3%-12.0%
InterestRs m4305475744.8%33.4%
Profit before taxRs m315-1,72543738.7%
TaxRs m111-64215438.3%
Profit after taxRs m204-1,08328338.9%
Gross profit margin%13.2-21.115.6
Effective tax rate%35.337.235.2
Net profit margin%3.8-18.74.3
* 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 25.3% on a year-on-year (YoY) basis. The expenses were up by 21.8% YoY during the same period.
  • The company's operating profit increased by 48.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.6% in 3QFY19 as against 13.2% in 3QFY18.
  • Depreciation charges declined by 12.0% and finance costs increased by 33.4% YoY, respectively.
  • Other income declined by 35.9% YoY during the quarter.
  • Net profit for the quarter increased by 38.9% YoY. Net profit margins during the quarter increased from 3.8% in 3QFY18 to 4.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 13.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 14.9% QoQ during the same period.
  • The company's operating profit increased by 184.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.6% in 3QFY19 as against 21.1% in 2QFY18.
  • Net profit for the quarter increased by 126.2% QoQ, while net profit margins increased from -18.7% in 2QFY18 to 4.3% in 3QFY19.

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 34.6 to Rs 21.2, registering a Loss of Rs 13.4 or around 38.8%.

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 21.2, the price to book value (P/BV) ratio of ELECTROSTEEL CAST stands at 0.3 times.

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For the quarter ended March 2019, ELECTROSTEEL CAST has posted a net profit of Rs 178 m (down 21.4% YoY). Sales on the other hand came in at Rs 7 bn (up 24.7% YoY). Read on for a complete analysis of ELECTROSTEEL CAST's quarterly results.

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