KEC INTERNATIONAL Announces Quarterly Results (2QFY21); Net Profit Up 2.5%

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KEC INTERNATIONAL Announces Quarterly Results (2QFY21); Net Profit Up 2.5%
Fri, 6 Nov

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

KEC INTERNATIONAL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m28,08822,06832,57747.6%16.0%
Other incomeRs m366968-2.0%88.6%
TurnoverRs m28,12422,13732,64447.5%16.1%
ExpensesRs m25,15020,11929,64647.4%17.9%
Gross profitRs m2,9381,9492,93150.4%-0.2%
DepreciationRs m347391374-4.3%7.7%
InterestRs m8226636741.8%-17.9%
Profit before taxRs m1,8059651,950102.2%8.0%
TaxRs m414257525104.6%26.8%
Profit after taxRs m1,3917081,426101.3%2.5%
Gross profit margin%10.58.89.0
Effective tax rate%22.926.626.9
Net profit margin%4.93.24.4
* 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 16.0% on a year-on-year (YoY) basis. The expenses were up by 17.9% YoY during the same period.
  • The company's operating profit declined by 0.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.0% in 2QFY21 as against 10.5% in 2QFY20.
  • Depreciation charges increased by 7.7% and finance costs declined by 17.9% YoY, respectively.
  • Other income increased by 88.6% YoY during the quarter.
  • Net profit for the quarter increased by 2.5% YoY. Net profit margins during the quarter declined from 4.9% in 2QFY20 to 4.4% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 47.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 47.4% QoQ during the same period.
  • The company's operating profit increased by 50.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.0% in 2QFY21 as against 8.8% in 1QFY20.
  • Net profit for the quarter increased by 101.3% QoQ, while net profit margins increased from 3.2% in 1QFY20 to 4.4% in 2QFY21.

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 up from Rs 267.5 to Rs 338.5, registering a Gain of Rs 71.0 or around 26.5%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 14,890.5 (up 0.7%). Over the last one year it has moved down from 18,578.5 to 14,890.5, a gain of 3,688 points (down 19.9%).

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 338.5, the price to earnings (P/E) ratio of KEC INTERNATIONAL stands at 15.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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