SALZER ELEC Announces Quarterly Results (2QFY19); Net Profit Down 3.3%

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SALZER ELEC Announces Quarterly Results (2QFY19); Net Profit Down 3.3%
Tue, 6 Nov

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

SALZER ELEC Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m1,0071,2651,3476.5%33.7%
Other incomeRs m1321-7.1%-89.2%
TurnoverRs m1,0211,2661,3496.5%32.1%
ExpensesRs m8781,1251,1804.9%34.4%
Gross profitRs m12914016719.6%29.5%
DepreciationRs m2331335.2%43.0%
InterestRs m3547481.8%36.7%
Profit before taxRs m85638839.1%4.0%
TaxRs m27183277.9%20.0%
Profit after taxRs m58455623.7%-3.3%
Gross profit margin%12.811.012.4
Effective tax rate%31.528.436.3
Net profit margin%5.73.64.2
* 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 33.7% on a year-on-year (YoY) basis. The expenses were up by 34.4% YoY during the same period.
  • The company's operating profit increased by 29.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.4% in 2QFY19 as against 12.8% in 2QFY18.
  • Depreciation charges increased by 43.0% and finance costs increased by 36.7% YoY, respectively.
  • Other income declined by 89.2% YoY during the quarter.
  • Net profit for the quarter declined by 3.3% YoY. Net profit margins during the quarter declined from 5.7% in 2QFY18 to 4.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.9% QoQ during the same period.
  • The company's operating profit increased by 19.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.4% in 2QFY19 as against 11.0% in 1QFY18.
  • Net profit for the quarter increased by 23.7% QoQ, while net profit margins increased from 3.6% in 1QFY18 to 4.2% in 2QFY19.

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

SALZER ELEC Share Price Performance

Over the last one year, SALZER ELEC share price has moved up from Rs 195.8 to Rs 129.0, registering a Loss of Rs 66.8 or around 34.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,089.3 (up 0.2%). Over the last one year it has moved down from 18,531.6 to 18,089.3, a gain of 442 points (down 2.4%).

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 129.0, the price to earnings (P/E) ratio of SALZER ELEC stands at 8.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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