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KEC INTERNATIONAL Announces Quarterly Results (2QFY19); Net Profit Up 7.8%

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KEC INTERNATIONAL Announces Quarterly Results (2QFY19); Net Profit Up 7.8%
Mon, 5 Nov

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

KEC INTERNATIONAL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m21,32221,04724,08514.4%13.0%
Other incomeRs m5717517-90.2%-70.2%
TurnoverRs m21,37921,22324,10213.6%12.7%
ExpensesRs m19,16318,88521,55314.1%12.5%
Gross profitRs m2,1582,1622,53217.1%17.3%
DepreciationRs m2792983041.8%9.0%
InterestRs m57269176811.2%34.2%
Profit before taxRs m1,3651,3481,4779.6%8.2%
TaxRs m4714805147.1%9.0%
Profit after taxRs m89486896310.9%7.8%
Gross profit margin%10.110.310.5
Effective tax rate%34.535.634.8
Net profit margin%4.24.14.0
* 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 13.0% on a year-on-year (YoY) basis. The expenses were up by 12.5% YoY during the same period.
  • The company's operating profit increased by 17.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.5% in 2QFY19 as against 10.1% in 2QFY18.
  • Depreciation charges increased by 9.0% and finance costs increased by 34.2% YoY, respectively.
  • Other income declined by 70.2% YoY during the quarter.
  • Net profit for the quarter increased by 7.8% YoY. Net profit margins during the quarter declined from 4.2% in 2QFY18 to 4.0% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 14.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 14.1% QoQ during the same period.
  • The company's operating profit increased by 17.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.5% in 2QFY19 as against 10.3% in 1QFY18.
  • Net profit for the quarter increased by 10.9% QoQ, while net profit margins declined from 4.1% in 1QFY18 to 4.0% in 2QFY19.

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

KEC INTERNATIONAL Share Price Performance

Over the last one year, KEC INTERNATIONAL share price has moved up from Rs 314.0 to Rs 291.1, registering a Loss of Rs 22.9 or around 7.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,055.8 (down 0.4%). Over the last one year it has moved down from 18,601.4 to 18,055.8, a gain of 546 points (down 2.9%).

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

Current Valuations

At the current price of Rs 291.1, the price to earnings (P/E) ratio of KEC INTERNATIONAL stands at 15.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.7 times.

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