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ENGINEERS INDIA Announces Quarterly Results (3QFY19); Net Profit Down 16.3%

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ENGINEERS INDIA Announces Quarterly Results (3QFY19); Net Profit Down 16.3%
Tue, 12 Feb

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

ENGINEERS INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m4,7346,8145,770-15.3%21.9%
Other incomeRs m393614519-15.6%32.0%
TurnoverRs m5,1277,4286,289-15.3%22.7%
ExpensesRs m3,3865,8994,821-18.3%42.4%
Gross profitRs m1,3489159493.7%-29.6%
DepreciationRs m595753-6.9%-9.7%
InterestRs m143-27.7%203.5%
Profit before taxRs m1,6821,4681,411-3.9%-16.1%
TaxRs m5974915042.7%-15.7%
Profit after taxRs m1,084978908-7.2%-16.3%
Gross profit margin%28.513.416.4
Effective tax rate%35.533.435.7
Net profit margin%21.113.214.4
* 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 21.9% on a year-on-year (YoY) basis. The expenses were up by 42.4% YoY during the same period.
  • The company's operating profit declined by 29.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.4% in 3QFY19 as against 28.5% in 3QFY18.
  • Depreciation charges declined by 9.7% and finance costs increased by 203.5% YoY, respectively.
  • Other income increased by 32.0% YoY during the quarter.
  • Net profit for the quarter declined by 16.3% YoY. Net profit margins during the quarter declined from 21.1% in 3QFY18 to 14.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 15.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 18.3% QoQ during the same period.
  • The company's operating profit increased by 3.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.4% in 3QFY19 as against 13.4% in 2QFY18.
  • Net profit for the quarter declined by 7.2% QoQ, while net profit margins increased from 13.2% in 2QFY18 to 14.4% in 3QFY19.

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 173.3 to Rs 110.7, registering a Loss of Rs 62.6 or around 36.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,588.3 (down 0.1%). Over the last one year it has moved down from 19,558.3 to 16,588.3, a gain of 2,970 points (down 15.2%).

Overall, the S&P BSE SENSEX is up 6.0% over the year.

Current Valuations

At the current price of Rs 110.7, the price to earnings (P/E) ratio of ENGINEERS INDIA stands at 21.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.2 times.

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