ESAB INDIA Announces Quarterly Results (2QFY19); Net Profit Up 53.8%

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ESAB INDIA Announces Quarterly Results (2QFY19); Net Profit Up 53.8%
Mon, 5 Nov

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

ESAB INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m1,2691,7171,664-3.1%31.1%
Other incomeRs m27405228.6%89.4%
TurnoverRs m1,2971,7571,716-2.3%32.3%
ExpensesRs m1,1321,4941,478-1.1%30.5%
Gross profitRs m135216186-13.5%38.5%
DepreciationRs m2525289.5%11.7%
InterestRs m0000.0%0.0%
Profit before taxRs m137231210-8.7%53.5%
TaxRs m447768-11.9%52.7%
Profit after taxRs m93154143-7.1%53.8%
Gross profit margin%10.612.611.2
Effective tax rate%32.233.232.1
Net profit margin%7.28.88.3
* 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 grew 31.1% on a year-on-year (YoY) basis. The expenses were up by 30.5% YoY during the same period.
  • The company's operating profit increased by 38.5% YoY during the quarter. Consequently, operating profit margins remained same and stood at 11.2% in 2QFY19.
  • Depreciation charges increased by 11.7% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 89.4% YoY during the quarter.
  • Net profit for the quarter increased by 53.8% YoY. Net profit margins during the quarter increased from 7.2% in 2QFY18 to 8.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.1% QoQ during the same period.
  • The company's operating profit declined by 13.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.2% in 2QFY19 as against 12.6% in 1QFY18.
  • Net profit for the quarter declined by 7.1% QoQ, while net profit margins declined from 8.8% in 1QFY18 to 8.3% in 2QFY19.

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

ESAB INDIA Share Price Performance

Over the last one year, ESAB INDIA share price has moved up from Rs 989.4 to Rs 891.1, registering a Loss of Rs 98.4 or around 9.9%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,026.6 (down 0.6%). Over the last one year it has moved down from 18,601.4 to 18,026.6, a gain of 575 points (down 3.1%).

Overall, the S&P BSE SENSEX is up 4.0% over the year.

Current Valuations

At the current price of Rs 891.1, the price to earnings (P/E) ratio of ESAB INDIA stands at 28.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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