EIMCO ELECON Announces Quarterly Results (3QFY20); Net Profit Down 61.1%

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EIMCO ELECON Announces Quarterly Results (3QFY20); Net Profit Down 61.1%
Mon, 27 Jan

EIMCO ELECON has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

EIMCO ELECON Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m37620536879.3%-2.2%
Other incomeRs m384131-24.5%-18.8%
TurnoverRs m41424639862.1%-3.8%
ExpensesRs m30117734795.5%15.1%
Gross profitRs m752821-23.7%-71.8%
DepreciationRs m1314152.8%14.1%
InterestRs m01127.9%183.0%
Profit before taxRs m1005336-32.4%-63.9%
TaxRs m2698-14.0%-71.4%
Profit after taxRs m734528-36.0%-61.1%
Gross profit margin%20.013.65.8
Effective tax rate%26.516.521.0
Net profit margin%17.718.17.1
* 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 fell 2.2% on a year-on-year (YoY) basis. The expenses were up by 15.1% YoY during the same period.
  • The company's operating profit declined by 71.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.8% in 3QFY20 as against 20.0% in 3QFY19.
  • Depreciation charges increased by 14.1% and finance costs increased by 183.0% YoY, respectively.
  • Other income declined by 18.8% YoY during the quarter.
  • Net profit for the quarter declined by 61.1% YoY. Net profit margins during the quarter declined from 17.7% in 3QFY19 to 7.1% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 79.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 95.5% QoQ during the same period.
  • The company's operating profit declined by 23.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.8% in 3QFY20 as against 13.6% in 2QFY19.
  • Net profit for the quarter declined by 36.0% QoQ, while net profit margins declined from 18.3% in 2QFY19 to 7.1% in 3QFY20.

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

LIVE on April 23rd: Has Covid impacted India's long-term growth potential?

EIMCO ELECON Share Price Performance

Over the last one year,EIMCO ELECON share price has moved down from Rs 365.0 to Rs 333.0, registering a Loss of Rs 32.0 or around 8.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,698.8 (down 0.2%). Over the last one year it has moved up from 17,174.3 to 17,698.8, a gain of 524 points (up 3.1%).

Overall, the S&P BSE SENSEX is up 14.2% over the year.

Current Valuations

At the current price of Rs 333.0, the price to earnings (P/E) ratio of EIMCO ELECON stands at 11.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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