ENGINEERS INDIA Announces Quarterly Results (1QFY21); Net Profit Down 61.3%

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ENGINEERS INDIA Announces Quarterly Results (1QFY21); Net Profit Down 61.3%
Thu, 10 Sep

ENGINEERS INDIA has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

ENGINEERS INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m7,3498,5384,678-45.2%-36.3%
Other incomeRs m583685497-27.5%-14.8%
TurnoverRs m7,9329,2235,175-43.9%-34.8%
ExpensesRs m5,9547,4284,464-39.9%-25.0%
Gross profitRs m1,3951,110214-80.7%-84.6%
DepreciationRs m576753-20.8%-6.9%
InterestRs m364-29.3%37.8%
Profit before taxRs m1,9171,722653-62.1%-65.9%
TaxRs m676425172-59.4%-74.5%
Profit after taxRs m1,2411,297481-62.9%-61.3%
Gross profit margin%19.013.04.6
Effective tax rate%35.324.726.4
Net profit margin%15.614.19.3
* 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 fell 36.3% on a year-on-year (YoY) basis. The expenses were down by 25.0% YoY during the same period.
  • The company's operating profit declined by 84.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.6% in 1QFY21 as against 19.0% in 1QFY20.
  • Depreciation charges declined by 6.9% and finance costs increased by 37.8% YoY, respectively.
  • Other income declined by 14.8% YoY during the quarter.
  • Net profit for the quarter declined by 61.3% YoY. Net profit margins during the quarter declined from 15.6% in 1QFY20 to 9.3% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 45.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 39.9% QoQ during the same period.
  • The company's operating profit declined by 80.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.6% in 1QFY21 as against 13.0% in 4QFY20.
  • Net profit for the quarter declined by 62.9% QoQ, while net profit margins declined from 14.1% in 4QFY20 to 9.3% in 1QFY21.

To see how ENGINEERS INDIA has performed over the last eight quarters,please visit here.

EXPIRES TOMORROW: Full Transcript of Our Urgent Broadcast on India's Revival

ENGINEERS INDIA Share Price Performance

Over the last one year,ENGINEERS INDIA share price has moved down from Rs 110.5 to Rs 65.5, registering a Loss of Rs 45.1 or around 40.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 13,816.2 (up 1.2%). Over the last one year it has moved down from 17,257.9 to 13,816.2, a gain of 3,442 points (down 19.9%).

Overall, the S&P BSE SENSEX is up 3.5% over the year.

Current Valuations

At the current price of Rs 65.5, the price to earnings (P/E) ratio of ENGINEERS INDIA stands at 12.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.9 times.

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