SWARAJ ENGINES Announces Quarterly Results (2QFY20); Net Profit Up 0.1%

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SWARAJ ENGINES Announces Quarterly Results (2QFY20); Net Profit Up 0.1%
Fri, 1 Nov

SWARAJ ENGINES has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

SWARAJ ENGINES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m2,4702,0542,2278.4%-9.8%
Other incomeRs m393634-5.0%-10.9%
TurnoverRs m2,5092,0902,2628.2%-9.9%
ExpensesRs m2,0691,7801,9278.3%-6.9%
Gross profitRs m4012743009.6%-25.2%
DepreciationRs m48485312.2%11.3%
InterestRs m0000.0%0.0%
Profit before taxRs m3922622817.1%-28.3%
TaxRs m1389327-71.0%-80.5%
Profit after taxRs m25416925450.1%0.1%
Gross profit margin%16.213.313.5
Effective tax rate%35.335.59.6
Net profit margin%10.18.111.2
* 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 fell 9.8% on a year-on-year (YoY) basis. The expenses were down by 6.9% YoY during the same period.
  • The company's operating profit declined by 25.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.5% in 2QFY20 as against 16.2% in 2QFY19.
  • Depreciation charges increased by 11.3% and finance costs increased by 0.0% YoY, respectively.
  • Other income declined by 10.9% YoY during the quarter.
  • Net profit for the quarter increased by 0.1% YoY. Net profit margins during the quarter increased from 10.1% in 2QFY19 to 11.2% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.3% QoQ during the same period.
  • The company's operating profit increased by 9.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.5% in 2QFY20 as against 13.3% in 1QFY19.
  • Net profit for the quarter increased by 50.1% QoQ, while net profit margins increased from 8.1% in 1QFY19 to 11.2% in 2QFY20.

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

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SWARAJ ENGINES Share Price Performance

Over the last one year,SWARAJ ENGINES share price has moved down from Rs 1,481.4 to Rs 1,160.0, registering a Loss of Rs 321.4 or around 21.7%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,874.0 (up 0.3%). Over the last one year it has moved up from 17,896.9 to 18,874.0, a gain of 977 points (up 5.5%).

Overall, the S&P BSE SENSEX is up 16.6% over the year.

Current Valuations

At the current price of Rs 1,160.0, the price to earnings (P/E) ratio of SWARAJ ENGINES stands at 18.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.9 times.

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