SWELECT ENERGY SYSTEMS Announces Quarterly Results (3QFY20); Net Profit Down 27.0%

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SWELECT ENERGY SYSTEMS Announces Quarterly Results (3QFY20); Net Profit Down 27.0%
Mon, 17 Feb

SWELECT ENERGY SYSTEMS has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

SWELECT ENERGY SYSTEMS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m214403388-3.5%81.4%
Other incomeRs m10387936.1%-10.3%
TurnoverRs m317490481-1.8%51.6%
ExpensesRs m2033513756.7%84.6%
Gross profitRs m115113-73.9%22.7%
DepreciationRs m434444-0.2%3.3%
InterestRs m192726-5.6%37.5%
Profit before taxRs m526736-46.4%-31.6%
TaxRs m14118-28.3%-44.5%
Profit after taxRs m395628-49.9%-27.0%
Gross profit margin%5.112.83.5
Effective tax rate%26.516.121.5
Net profit margin%12.111.55.9
* 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 81.4% on a year-on-year (YoY) basis. The expenses were up by 84.6% YoY during the same period.
  • The company's operating profit increased by 22.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.5% in 3QFY20 as against 5.1% in 3QFY19.
  • Depreciation charges increased by 3.3% and finance costs increased by 37.5% YoY, respectively.
  • Other income declined by 10.3% YoY during the quarter.
  • Net profit for the quarter declined by 27.0% YoY. Net profit margins during the quarter declined from 12.1% in 3QFY19 to 5.9% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.7% QoQ during the same period.
  • The company's operating profit declined by 73.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.5% in 3QFY20 as against 12.8% in 2QFY19.
  • Net profit for the quarter declined by 49.9% QoQ, while net profit margins declined from 11.4% in 2QFY19 to 5.9% in 3QFY20.

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

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SWELECT ENERGY SYSTEMS Share Price Performance

Over the last one year,SWELECT ENERGY SYSTEMS share price has moved down from Rs 205.3 to Rs 129.0, registering a Loss of Rs 76.3 or around 37.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,689.6 (down 0.5%). Over the last one year it has moved up from 16,411.2 to 16,689.6, a gain of 278 points (up 1.7%).

Overall, the S&P BSE SENSEX is up 14.9% over the year.

Current Valuations

At the current price of Rs 129.0, the price to earnings (P/E) ratio of SWELECT ENERGY SYSTEMS stands at 14.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.2 times.

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