KEC INTERNATIONAL Announces Quarterly Results (3QFY19); Net Profit Down 0.8%

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KEC INTERNATIONAL Announces Quarterly Results (3QFY19); Net Profit Down 0.8%
Wed, 30 Jan

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

KEC INTERNATIONAL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m24,04924,08526,4669.9%10.0%
Other incomeRs m1231736108.2%-71.1%
TurnoverRs m24,17324,10226,50210.0%9.6%
ExpensesRs m21,60821,55323,6539.7%9.5%
Gross profitRs m2,4412,5322,81411.1%15.3%
DepreciationRs m2723043091.5%13.5%
InterestRs m60776885711.6%41.3%
Profit before taxRs m1,6861,4771,68414.0%-0.1%
TaxRs m56851457511.9%1.1%
Profit after taxRs m1,1189631,10915.1%-0.8%
Gross profit margin%10.210.510.6
Effective tax rate%33.734.834.1
Net profit margin%4.64.04.2
* 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 grew 10.0% on a year-on-year (YoY) basis. The expenses were up by 9.5% YoY during the same period.
  • The company's operating profit increased by 15.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.6% in 3QFY19 as against 10.2% in 3QFY18.
  • Depreciation charges increased by 13.5% and finance costs increased by 41.3% YoY, respectively.
  • Other income declined by 71.1% YoY during the quarter.
  • Net profit for the quarter declined by 0.8% YoY. Net profit margins during the quarter declined from 4.6% in 3QFY18 to 4.2% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 9.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 9.7% QoQ during the same period.
  • The company's operating profit increased by 11.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.6% in 3QFY19 as against 10.5% in 2QFY18.
  • Net profit for the quarter increased by 15.1% QoQ, while net profit margins increased from 4.0% in 2QFY18 to 4.2% in 3QFY19.

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 352.0 to Rs 241.5, registering a Loss of Rs 110.6 or around 31.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,037.5 (up 0.7%). Over the last one year it has moved down from 20,594.9 to 17,037.5, a gain of 3,557 points (down 17.3%).

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 241.5, the price to earnings (P/E) ratio of KEC INTERNATIONAL stands at 12.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.1 times.

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