KEC INTERNATIONAL Announces Quarterly Results (4QFY20); Net Profit Down 0.5%

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KEC INTERNATIONAL Announces Quarterly Results (4QFY20); Net Profit Down 0.5%
Mon, 1 Jun

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

KEC INTERNATIONAL Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m38,41230,73136,71019.5%-4.4%
Other incomeRs m63212733.2%-56.9%
TurnoverRs m38,47530,75236,73719.5%-4.5%
ExpensesRs m34,42127,54633,00319.8%-4.1%
Gross profitRs m3,9903,1853,70716.4%-7.1%
DepreciationRs m2613673926.7%50.3%
InterestRs m846811652-19.5%-22.9%
Profit before taxRs m2,9482,0282,69132.7%-8.7%
TaxRs m1,00957976231.6%-24.5%
Profit after taxRs m1,9391,4491,92933.1%-0.5%
Gross profit margin%10.410.410.1
Effective tax rate%34.228.528.3
Net profit margin%5.04.75.3
* 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 fell 4.4% on a year-on-year (YoY) basis. The expenses were down by 4.1% YoY during the same period.
  • The company's operating profit declined by 7.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 10.1% in 4QFY20.
  • Depreciation charges increased by 50.3% and finance costs declined by 22.9% YoY, respectively.
  • Other income declined by 56.9% YoY during the quarter.
  • Net profit for the quarter declined by 0.5% YoY. Net profit margins during the quarter increased from 5.0% in 4QFY19 to 5.3% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 19.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 19.8% QoQ during the same period.
  • The company's operating profit increased by 16.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.1% in 4QFY20 as against 10.4% in 3QFY19.
  • Net profit for the quarter increased by 33.1% QoQ, while net profit margins increased from 4.7% in 3QFY19 to 5.3% in 4QFY20.

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 down from Rs 319.7 to Rs 207.4, registering a Loss of Rs 112.3 or around 35.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 12,626.2 (up 2.4%). Over the last one year it has moved down from 19,939.3 to 12,626.2, a loss of 7,313 points (down 36.7%).

Overall, the S&P BSE SENSEX is down 15.7% over the year.

Current Valuations

At the current price of Rs 207.4, the price to earnings (P/E) ratio of KEC INTERNATIONAL stands at 9.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.2 times.

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