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ELECTROSTEEL CAST Announces Quarterly Results (4QFY19); Net Profit Down 21.4%

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ELECTROSTEEL CAST Announces Quarterly Results (4QFY19); Net Profit Down 21.4%
Fri, 17 May

ELECTROSTEEL CAST has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

ELECTROSTEEL CAST Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m5,4016,4106,7335.0%24.7%
Other incomeRs m12914217020.0%31.3%
TurnoverRs m5,5316,5526,9035.4%24.8%
ExpensesRs m4,7515,4085,8898.9%24.0%
Gross profitRs m6501,002843-15.9%29.7%
DepreciationRs m140134132-1.4%-5.7%
InterestRs m522574477-16.9%-8.6%
Profit before taxRs m118437405-7.3%242.7%
TaxRs m-10815422747.6%
Profit after taxRs m227283178-37.1%-21.4%
Gross profit margin%12.015.612.5
Effective tax rate%-91.835.256.0
Net profit margin%4.14.32.6
* 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 grew 24.7% on a year-on-year (YoY) basis. The expenses were up by 24.0% YoY during the same period.
  • The company's operating profit increased by 29.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.5% in 4QFY19 as against 12.0% in 4QFY18.
  • Depreciation charges declined by 5.7% and finance costs declined by 8.6% YoY, respectively.
  • Other income increased by 31.3% YoY during the quarter.
  • Net profit for the quarter declined by 21.4% YoY. Net profit margins during the quarter declined from 4.1% in 4QFY18 to 2.6% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.9% QoQ during the same period.
  • The company's operating profit declined by 15.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.5% in 4QFY19 as against 15.6% in 3QFY18.
  • Net profit for the quarter declined by 37.1% QoQ, while net profit margins declined from 4.3% in 3QFY18 to 2.6% in 4QFY19.

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 26.1 to Rs 17.7, registering a Loss of Rs 8.4 or around 32.1%.

Overall, the S&P BSE SENSEX is up 6.2% over the year.

Current Valuations

At the current price of Rs 17.7, the price to book value (P/BV) ratio of ELECTROSTEEL CAST stands at 0.3 times.

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