KEC INTERNATIONAL Announces Quarterly Results (3QFY21); Net Profit Up 0.1%

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KEC INTERNATIONAL Announces Quarterly Results (3QFY21); Net Profit Up 0.1%
Fri, 29 Jan

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

KEC INTERNATIONAL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m30,73132,57732,8921.0%7.0%
Other incomeRs m216839-42.2%90.7%
TurnoverRs m30,75232,64432,9310.9%7.1%
ExpensesRs m27,54629,64629,9060.9%8.6%
Gross profitRs m3,1852,9312,9871.9%-6.2%
DepreciationRs m3673743801.6%3.6%
InterestRs m811674658-2.4%-18.8%
Profit before taxRs m2,0281,9501,9881.9%-2.0%
TaxRs m5795255372.4%-7.2%
Profit after taxRs m1,4491,4261,4511.8%0.1%
Gross profit margin%10.49.09.1
Effective tax rate%28.526.927.0
Net profit margin%4.74.44.4
* 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 7.0% on a year-on-year (YoY) basis. The expenses were up by 8.6% YoY during the same period.
  • The company's operating profit declined by 6.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.1% in 3QFY21 as against 10.4% in 3QFY20.
  • Depreciation charges increased by 3.6% and finance costs declined by 18.8% YoY, respectively.
  • Other income increased by 90.7% YoY during the quarter.
  • Net profit for the quarter increased by 0.1% YoY. Net profit margins during the quarter declined from 4.7% in 3QFY20 to 4.4% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.9% QoQ during the same period.
  • The company's operating profit increased by 1.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.1% in 3QFY21 as against 9.0% in 2QFY20.
  • Net profit for the quarter increased by 1.8% QoQ, while net profit margins increased from 4.4% in 2QFY20 to 4.4% in 3QFY21.

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 344.5 to Rs 353.8, registering a Gain of Rs 9.3 or around 2.7%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 19,692.9 (down 0.6%). Over the last one year it has moved up from 17,640.1 to 19,692.9, a gain of 2,053 points (up 11.6%).

Overall, the S&P BSE SENSEX is up 14.1% over the year.

Current Valuations

At the current price of Rs 353.8, the price to earnings (P/E) ratio of KEC INTERNATIONAL stands at 16.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.3 times.

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