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ENGINEERS INDIA Announces Quarterly Results (2QFY19); Net Profit Down 18.0%

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ENGINEERS INDIA Announces Quarterly Results (2QFY19); Net Profit Down 18.0%
Wed, 14 Nov

ENGINEERS INDIA has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

ENGINEERS INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m4,2915,7336,81418.9%58.8%
Other incomeRs m46752261417.7%31.7%
TurnoverRs m4,7576,2557,42818.8%56.1%
ExpensesRs m2,9014,8705,89921.1%103.3%
Gross profitRs m1,3908649155.9%-34.2%
DepreciationRs m6255573.6%-7.7%
InterestRs m12480.3%432.8%
Profit before taxRs m1,7931,3281,46810.5%-18.1%
TaxRs m6024624916.2%-18.5%
Profit after taxRs m1,19286697812.9%-18.0%
Gross profit margin%32.415.113.4
Effective tax rate%33.634.833.4
Net profit margin%25.013.813.2
* 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 58.8% on a year-on-year (YoY) basis. The expenses were up by 103.3% YoY during the same period.
  • The company's operating profit declined by 34.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.4% in 2QFY19 as against 32.4% in 2QFY18.
  • Depreciation charges declined by 7.7% and finance costs increased by 432.8% YoY, respectively.
  • Other income increased by 31.7% YoY during the quarter.
  • Net profit for the quarter declined by 18.0% YoY. Net profit margins during the quarter declined from 25.0% in 2QFY18 to 13.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 18.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 21.1% QoQ during the same period.
  • The company's operating profit declined by 5.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.4% in 2QFY19 as against 15.1% in 1QFY18.
  • Net profit for the quarter increased by 12.9% QoQ, while net profit margins declined from 13.8% in 1QFY18 to 13.2% in 2QFY19.

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

ENGINEERS INDIA Share Price Performance

Over the last one year, ENGINEERS INDIA share price has moved up from Rs 183.7 to Rs 117.1, registering a Loss of Rs 66.7 or around 36.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,342.0 (down 0.3%). Over the last one year it has moved up from 18,185.3 to 18,342.0, a gain of 157 points (up 0.9%).

Overall, the S&P BSE SENSEX is up 6.5% over the year.

Current Valuations

At the current price of Rs 117.1, the price to earnings (P/E) ratio of ENGINEERS INDIA stands at 21.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.4 times.

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