SWARAJ ENGINES Announces Quarterly Results (4QFY19); Net Profit Down 6.8%

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SWARAJ ENGINES Announces Quarterly Results (4QFY19); Net Profit Down 6.8%
Thu, 25 Apr

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

SWARAJ ENGINES Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m1,8531,9871,915-3.6%3.4%
Other incomeRs m414036-9.7%-12.1%
TurnoverRs m1,8942,0281,951-3.8%3.0%
ExpensesRs m1,5671,7121,641-4.2%4.7%
Gross profitRs m286275274-0.3%-4.0%
DepreciationRs m42475311.9%26.6%
InterestRs m10000.0%-99.0%
Profit before taxRs m275268258-3.9%-6.4%
TaxRs m979591-3.7%-5.6%
Profit after taxRs m179173167-4.0%-6.8%
Gross profit margin%15.413.814.3
Effective tax rate%35.135.335.4
Net profit margin%9.48.68.5
* 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 3.4% on a year-on-year (YoY) basis. The expenses were up by 4.7% YoY during the same period.
  • The company's operating profit declined by 4.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.3% in 4QFY19 as against 15.4% in 4QFY18.
  • Depreciation charges increased by 26.6% and finance costs declined by 99.0% YoY, respectively.
  • Other income declined by 12.1% YoY during the quarter.
  • Net profit for the quarter declined by 6.8% YoY. Net profit margins during the quarter declined from 9.4% in 4QFY18 to 8.5% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.2% QoQ during the same period.
  • The company's operating profit increased by 0.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.3% in 4QFY19 as against 13.8% in 3QFY18.
  • Net profit for the quarter declined by 4.0% QoQ, while net profit margins increased from 8.5% in 3QFY18 to 8.5% in 4QFY19.

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 2,070.3 to Rs 1,400.0, registering a Loss of Rs 670.3 or around 32.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,213.7 (down 0.3%). Over the last one year it has moved down from 19,088.9 to 18,213.7, a gain of 875 points (down 4.6%).

Overall, the S&P BSE SENSEX is up 11.9% over the year.

Current Valuations

At the current price of Rs 1,400.0, the price to earnings (P/E) ratio of SWARAJ ENGINES stands at 20.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.4 times.

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