SWELECT ENERGY SYSTEMS Announces Quarterly Results (2QFY19); Net Profit Down 109.5%

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SWELECT ENERGY SYSTEMS Announces Quarterly Results (2QFY19); Net Profit Down 109.5%
Mon, 19 Nov

SWELECT ENERGY SYSTEMS has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

SWELECT ENERGY SYSTEMS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m472561258-54.1%-45.4%
Other incomeRs m462091358.9%100.4%
TurnoverRs m518581349-39.9%-32.6%
ExpensesRs m426486302-38.0%-29.2%
Gross profitRs m4675-41-154.2%-187.8%
DepreciationRs m29273321.2%12.8%
InterestRs m141918-4.9%27.3%
Profit before taxRs m4849-1-101.1%-101.1%
TaxRs m12123-76.2%-76.1%
Profit after taxRs m3637-3-109.4%-109.5%
Gross profit margin%9.813.4-15.8
Effective tax rate%25.225.1-550.9
Net profit margin%7.06.3-1.0
* 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 fell 45.4% on a year-on-year (YoY) basis. The expenses were down by 29.2% YoY during the same period.
  • The company's operating profit declined by 187.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.8% in 2QFY19 as against 9.8% in 2QFY18.
  • Depreciation charges increased by 12.8% and finance costs increased by 27.3% YoY, respectively.
  • Other income increased by 100.4% YoY during the quarter.
  • Net profit for the quarter declined by 109.5% YoY. Net profit margins during the quarter declined from 7.0% in 2QFY18 to -1.0% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 54.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 38.0% QoQ during the same period.
  • The company's operating profit declined by 154.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.8% in 2QFY19 as against 13.4% in 1QFY18.
  • Net profit for the quarter declined by 109.4% QoQ, while net profit margins declined from 6.4% in 1QFY18 to -1.0% in 2QFY19.

To see how SWELECT ENERGY SYSTEMS has performed over the last eight quarters, please visit here.

SWELECT ENERGY SYSTEMS Share Price Performance

Over the last one year, SWELECT ENERGY SYSTEMS share price has moved up from Rs 456.5 to Rs 270.0, registering a Loss of Rs 186.5 or around 40.9%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,448.4 (up 0.2%). Over the last one year it has moved up from 18,236.0 to 18,448.4, a gain of 212 points (up 1.2%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

Current Valuations

At the current price of Rs 270.0, the price to earnings (P/E) ratio of SWELECT ENERGY SYSTEMS stands at 17.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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