KEC INTERNATIONAL Announces Quarterly Results (1QFY21); Net Profit Down 20.1%

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KEC INTERNATIONAL Announces Quarterly Results (1QFY21); Net Profit Down 20.1%
Tue, 11 Aug

KEC INTERNATIONAL has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

KEC INTERNATIONAL Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m24,12536,71022,068-39.9%-8.5%
Other incomeRs m272769153.1%153.1%
TurnoverRs m24,15236,73722,137-39.7%-8.3%
ExpensesRs m21,61133,00320,119-39.0%-6.9%
Gross profitRs m2,5133,7071,949-47.4%-22.5%
DepreciationRs m366392391-0.2%6.7%
InterestRs m7956526631.6%-16.7%
Profit before taxRs m1,3792,691965-64.2%-30.1%
TaxRs m493762257-66.3%-48.0%
Profit after taxRs m8861,929708-63.3%-20.1%
Gross profit margin%10.410.18.8
Effective tax rate%35.728.326.6
Net profit margin%3.75.33.2
* 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 fell 8.5% on a year-on-year (YoY) basis. The expenses were down by 6.9% YoY during the same period.
  • The company's operating profit declined by 22.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.8% in 1QFY21 as against 10.4% in 1QFY20.
  • Depreciation charges increased by 6.7% and finance costs declined by 16.7% YoY, respectively.
  • Other income increased by 153.1% YoY during the quarter.
  • Net profit for the quarter declined by 20.1% YoY. Net profit margins during the quarter declined from 3.7% in 1QFY20 to 3.2% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 39.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 39.0% QoQ during the same period.
  • The company's operating profit declined by 47.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.8% in 1QFY21 as against 10.1% in 4QFY20.
  • Net profit for the quarter declined by 63.3% QoQ, while net profit margins declined from 5.3% in 4QFY20 to 3.2% in 1QFY21.

To see how KEC INTERNATIONAL has performed over the last eight quarters,please visit here.

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KEC INTERNATIONAL Share Price Performance

Over the last one year,KEC INTERNATIONAL share price has moved down from Rs 293.1 to Rs 291.5, registering a Loss of Rs 1.6 or around 0.5%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 13,471.0 (up 0.5%). Over the last one year it has moved down from 17,301.2 to 13,471.0, a gain of 3,830 points (down 22.1%).

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 291.5, the price to earnings (P/E) ratio of KEC INTERNATIONAL stands at 13.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.1 times.

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