KEC INTERNATIONAL Announces Quarterly Results (4QFY19); Net Profit Down 1.2%

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KEC INTERNATIONAL Announces Quarterly Results (4QFY19); Net Profit Down 1.2%
Thu, 9 May

KEC INTERNATIONAL has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

KEC INTERNATIONAL Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m36,64226,46638,41245.1%4.8%
Other incomeRs m126366378.1%-49.5%
TurnoverRs m36,76726,50238,47545.2%4.6%
ExpensesRs m32,94323,65334,42145.5%4.5%
Gross profitRs m3,6992,8143,99041.8%7.9%
DepreciationRs m275309261-15.6%-5.2%
InterestRs m656857846-1.4%28.9%
Profit before taxRs m2,8941,6842,94875.1%1.9%
TaxRs m9305751,00975.6%8.4%
Profit after taxRs m1,9631,1091,93974.8%-1.2%
Gross profit margin%10.110.610.4
Effective tax rate%32.234.134.2
Net profit margin%5.34.25.0
* 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 4.8% on a year-on-year (YoY) basis. The expenses were up by 4.5% YoY during the same period.
  • The company's operating profit increased by 7.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 10.4% in 4QFY19.
  • Depreciation charges declined by 5.2% and finance costs increased by 28.9% YoY, respectively.
  • Other income declined by 49.5% YoY during the quarter.
  • Net profit for the quarter declined by 1.2% YoY. Net profit margins during the quarter declined from 5.3% in 4QFY18 to 5.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 45.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 45.5% QoQ during the same period.
  • The company's operating profit declined by 41.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.4% in 4QFY19 as against 10.6% in 3QFY18.
  • Net profit for the quarter increased by 74.8% QoQ, while net profit margins increased from 4.2% in 3QFY18 to 5.0% in 4QFY19.

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 402.0 to Rs 285.8, registering a Loss of Rs 116.2 or around 28.9%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,701.8 (down 0.5%). Over the last one year it has moved down from 19,243.1 to 17,701.8, a gain of 1,541 points (down 8.0%).

Overall, the S&P BSE SENSEX is up 6.9% over the year.

Current Valuations

At the current price of Rs 285.8, the price to earnings (P/E) ratio of KEC INTERNATIONAL stands at 15.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.7 times.

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