EIMCO ELECON Announces Quarterly Results (3QFY19); Net Profit Up 26.2%

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EIMCO ELECON Announces Quarterly Results (3QFY19); Net Profit Up 26.2%
Wed, 30 Jan

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

EIMCO ELECON Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m353557376-32.5%6.6%
Other incomeRs m131838105.0%185.4%
TurnoverRs m366576414-28.1%13.1%
ExpensesRs m289505301-40.4%4.2%
Gross profitRs m64527544.1%17.5%
DepreciationRs m1312132.4%0.1%
InterestRs m210-62.7%-72.5%
Profit before taxRs m635710075.3%59.0%
TaxRs m51226114.9%470.8%
Profit after taxRs m58457364.4%26.2%
Gross profit margin%18.19.420.0
Effective tax rate%7.421.626.5
Net profit margin%15.97.717.7
* 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 6.6% on a year-on-year (YoY) basis. The expenses were up by 4.2% YoY during the same period.
  • The company's operating profit increased by 17.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.0% in 3QFY19 as against 18.1% in 3QFY18.
  • Depreciation charges increased by 0.1% and finance costs declined by 72.5% YoY, respectively.
  • Other income increased by 185.4% YoY during the quarter.
  • Net profit for the quarter increased by 26.2% YoY. Net profit margins during the quarter increased from 15.9% in 3QFY18 to 17.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 32.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 40.4% QoQ during the same period.
  • The company's operating profit increased by 44.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.0% in 3QFY19 as against 9.4% in 2QFY18.
  • Net profit for the quarter increased by 64.4% QoQ, while net profit margins increased from 7.8% in 2QFY18 to 17.7% in 3QFY19.

To see how EIMCO ELECON has performed over the last eight quarters, please visit here.

EIMCO ELECON Share Price Performance

Over the last one year, EIMCO ELECON share price has moved up from Rs 499.0 to Rs 370.0, registering a Loss of Rs 129.0 or around 25.9%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,188.9 (up 1.6%). Over the last one year it has moved down from 20,594.9 to 17,188.9, a gain of 3,406 points (down 16.5%).

Overall, the S&P BSE SENSEX is down 1.7% over the year.

Current Valuations

At the current price of Rs 370.0, the price to earnings (P/E) ratio of EIMCO ELECON stands at 8.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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