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.

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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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