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SWARAJ ENGINES Announces Quarterly Results (3QFY19); Net Profit Up 0.6%

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SWARAJ ENGINES Announces Quarterly Results (3QFY19); Net Profit Up 0.6%
Mon, 28 Jan

SWARAJ ENGINES has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

SWARAJ ENGINES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m1,8332,4701,987-19.6%8.4%
Other incomeRs m4939404.4%-17.8%
TurnoverRs m1,8822,5092,028-19.2%7.8%
ExpensesRs m1,5762,0691,712-17.2%8.7%
Gross profitRs m257401275-31.5%7.1%
DepreciationRs m424847-1.7%12.4%
InterestRs m0000.0%0.0%
Profit before taxRs m264392268-31.6%1.6%
TaxRs m9113895-31.5%3.5%
Profit after taxRs m172254173-31.7%0.6%
Gross profit margin%14.016.213.8
Effective tax rate%34.735.335.3
Net profit margin%9.210.18.6
* 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 8.4% on a year-on-year (YoY) basis. The expenses were up by 8.7% YoY during the same period.
  • The company's operating profit increased by 7.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 13.8% in 3QFY19.
  • Depreciation charges increased by 12.4% and finance costs increased by 0.0% YoY, respectively.
  • Other income declined by 17.8% YoY during the quarter.
  • Net profit for the quarter increased by 0.6% YoY. Net profit margins during the quarter declined from 9.2% in 3QFY18 to 8.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 19.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 17.2% QoQ during the same period.
  • The company's operating profit declined by 31.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.8% in 3QFY19 as against 16.2% in 2QFY18.
  • Net profit for the quarter declined by 31.7% QoQ, while net profit margins declined from 10.1% in 2QFY18 to 8.6% in 3QFY19.

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

SWARAJ ENGINES Share Price Performance

Over the last one year, SWARAJ ENGINES share price has moved up from Rs 1,992.8 to Rs 1,430.0, registering a Loss of Rs 562.8 or around 28.2%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,269.4 (up 0.6%). Over the last one year it has moved down from 20,634.8 to 17,269.4, a gain of 3,365 points (down 16.3%).

Overall, the S&P BSE SENSEX is down 0.6% over the year.

Current Valuations

At the current price of Rs 1,430.0, the price to earnings (P/E) ratio of SWARAJ ENGINES stands at 20.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.6 times.

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