ENGINEERS INDIA Announces Quarterly Results (2QFY20); Net Profit Down 30.7%

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ENGINEERS INDIA Announces Quarterly Results (2QFY20); Net Profit Down 30.7%
Tue, 12 Nov

ENGINEERS INDIA has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

ENGINEERS INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m6,8147,3497,237-1.5%6.2%
Other incomeRs m61458365512.4%6.7%
TurnoverRs m7,4287,9327,893-0.5%6.3%
ExpensesRs m5,8995,9546,1683.6%4.6%
Gross profitRs m9151,3951,069-23.3%16.9%
DepreciationRs m5757581.2%1.4%
InterestRs m43422.1%6.7%
Profit before taxRs m1,4681,9171,663-13.3%13.3%
TaxRs m49167698645.8%100.9%
Profit after taxRs m9781,241678-45.4%-30.7%
Gross profit margin%13.419.014.8
Effective tax rate%33.435.359.3
Net profit margin%13.215.68.6
* 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 6.2% on a year-on-year (YoY) basis. The expenses were up by 4.6% YoY during the same period.
  • The company's operating profit increased by 16.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.8% in 2QFY20 as against 13.4% in 2QFY19.
  • Depreciation charges increased by 1.4% and finance costs increased by 6.7% YoY, respectively.
  • Other income increased by 6.7% YoY during the quarter.
  • Net profit for the quarter declined by 30.7% YoY. Net profit margins during the quarter declined from 13.2% in 2QFY19 to 8.6% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.6% QoQ during the same period.
  • The company's operating profit declined by 23.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.8% in 2QFY20 as against 19.0% in 1QFY19.
  • Net profit for the quarter declined by 45.4% QoQ, while net profit margins declined from 15.6% in 1QFY19 to 8.6% in 2QFY20.

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

Get Details: These 3 Stocks are the Dark Horses of the Stock Market

ENGINEERS INDIA Share Price Performance

Over the last one year,ENGINEERS INDIA share price has moved down from Rs 120.6 to Rs 107.7, registering a Loss of Rs 13.0 or around 10.7%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,294.2 (down 0.2%). Over the last one year it has moved up from 18,167.7 to 18,294.2, a gain of 127 points (up 0.7%).

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 107.7, the price to earnings (P/E) ratio of ENGINEERS INDIA stands at 19.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.1 times.

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