NESCO Announces Quarterly Results (4QFY20); Net Profit Up 3.0%

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NESCO Announces Quarterly Results (4QFY20); Net Profit Up 3.0%
Thu, 21 May

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

NESCO Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m9351,1511,1772.3%25.9%
Other incomeRs m133137135-1.2%1.7%
TurnoverRs m1,0681,2871,3121.9%22.9%
ExpensesRs m28337846422.6%64.1%
Gross profitRs m652772714-7.6%9.4%
DepreciationRs m267049-30.6%90.6%
InterestRs m14171915.4%34.2%
Profit before taxRs m745822781-5.0%4.8%
TaxRs m23213125292.0%8.8%
Profit after taxRs m514691529-23.4%3.0%
Gross profit margin%69.867.160.6
Effective tax rate%31.116.032.3
Net profit margin%48.153.740.3
* 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 grew 25.9% on a year-on-year (YoY) basis. The expenses were up by 64.1% YoY during the same period.
  • The company's operating profit increased by 9.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 60.6% in 4QFY20 as against 69.8% in 4QFY19.
  • Depreciation charges increased by 90.6% and finance costs increased by 34.2% YoY, respectively.
  • Other income increased by 1.7% YoY during the quarter.
  • Net profit for the quarter increased by 3.0% YoY. Net profit margins during the quarter declined from 48.1% in 4QFY19 to 40.3% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 22.6% QoQ during the same period.
  • The company's operating profit declined by 7.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 60.6% in 4QFY20 as against 67.1% in 3QFY19.
  • Net profit for the quarter declined by 23.4% QoQ, while net profit margins declined from 53.7% in 3QFY19 to 40.3% in 4QFY20.

To see how NESCO has performed over the last eight quarters,please visit here.

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NESCO Share Price Performance

Over the last one year,NESCO share price has moved down from Rs 484.8 to Rs 396.3, registering a Loss of Rs 88.6 or around 18.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 11,310.2 (up 0.1%). Over the last one year it has moved down from 18,623.4 to 11,310.2, a loss of 7,313 points (down 39.3%).

Overall, the S&P BSE SENSEX is down 21.4% over the year.

Current Valuations

At the current price of Rs 396.3, the price to earnings (P/E) ratio of NESCO stands at 11.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.4 times.

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