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EIMCO ELECON Announces Quarterly Results (4QFY19); Net Profit Down 9.3%

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EIMCO ELECON Announces Quarterly Results (4QFY19); Net Profit Down 9.3%
Wed, 8 May

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

EIMCO ELECON Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m66437657853.5%-13.1%
Other incomeRs m263838-0.2%44.6%
TurnoverRs m69141461548.6%-10.9%
ExpensesRs m57330149564.2%-13.7%
Gross profitRs m92758310.6%-9.3%
DepreciationRs m131312-2.7%-2.1%
InterestRs m202414.9%2.1%
Profit before taxRs m1031001066.3%3.3%
TaxRs m1626272.3%73.7%
Profit after taxRs m8773797.8%-9.3%
Gross profit margin%13.820.014.4
Effective tax rate%15.226.525.5
Net profit margin%12.617.712.8
* 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 13.1% on a year-on-year (YoY) basis. The expenses were down by 13.7% YoY during the same period.
  • The company's operating profit declined by 9.3% YoY during the quarter. Consequently, operating profit margins remained same and stood at 14.4% in 4QFY19.
  • Depreciation charges declined by 2.1% and finance costs increased by 2.1% YoY, respectively.
  • Other income increased by 44.6% YoY during the quarter.
  • Net profit for the quarter declined by 9.3% YoY. Net profit margins during the quarter increased from 12.6% in 4QFY18 to 12.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 53.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 64.2% QoQ during the same period.
  • The company's operating profit declined by 10.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.4% in 4QFY19 as against 20.0% in 3QFY18.
  • Net profit for the quarter increased by 7.8% QoQ, while net profit margins declined from 17.6% in 3QFY18 to 12.8% in 4QFY19.

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 419.0 to Rs 383.0, registering a Loss of Rs 36.0 or around 8.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,829.9 (down 0.6%). Over the last one year it has moved down from 19,166.2 to 17,829.9, a gain of 1,336 points (down 7.0%).

Overall, the S&P BSE SENSEX is up 7.6% over the year.

Current Valuations

At the current price of Rs 383.0, the price to earnings (P/E) ratio of EIMCO ELECON stands at 9.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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For the quarter ended December 2018, EIMCO ELECON has posted a net profit of Rs 73 m (up 26.2% YoY). Sales on the other hand came in at Rs 376 m (up 6.6% YoY). Read on for a complete analysis of EIMCO ELECON's quarterly results.

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