TATA ELXSI Announces Quarterly Results (1QFY20); Net Profit Down 30.8%

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TATA ELXSI Announces Quarterly Results (1QFY20); Net Profit Down 30.8%
Fri, 19 Jul

TATA ELXSI has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

TATA ELXSI Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m3,8204,0513,617-10.7%-5.3%
Other incomeRs m78150121-19.2%54.3%
TurnoverRs m3,8994,2013,738-11.0%-4.1%
ExpensesRs m2,7553,0662,919-4.8%5.9%
Gross profitRs m1,065985699-29.1%-34.4%
DepreciationRs m616710456.1%71.2%
InterestRs m00130.0%0.0%
Profit before taxRs m1,0831,068702-34.3%-35.2%
TaxRs m378355214-39.7%-43.3%
Profit after taxRs m705713488-31.6%-30.8%
Gross profit margin%27.924.319.3
Effective tax rate%34.933.230.5
Net profit margin%18.117.013.1
* 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 5.3% on a year-on-year (YoY) basis. The expenses were up by 5.9% YoY during the same period.
  • The company's operating profit declined by 34.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.3% in 1QFY20 as against 27.9% in 1QFY19.
  • Depreciation charges increased by 71.2% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 54.3% YoY during the quarter.
  • Net profit for the quarter declined by 30.8% YoY. Net profit margins during the quarter declined from 18.1% in 1QFY19 to 13.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 10.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.8% QoQ during the same period.
  • The company's operating profit declined by 29.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.3% in 1QFY20 as against 24.3% in 4QFY19.
  • Net profit for the quarter declined by 31.6% QoQ, while net profit margins declined from 17.0% in 4QFY19 to 13.1% in 1QFY20.

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

TATA ELXSI Share Price Performance

Over the last one year,TATA ELXSI share price has moved down from Rs 1,373.6 to Rs 739.6, registering a Loss of Rs 634.0 or around 46.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,558.1 (down 0.0%). Over the last one year it has moved up from 14,355.4 to 15,558.1, a gain of 1,203 points (up 8.4%).

Overall, the S&P BSE SENSEX is up 6.8% over the year.

Current Valuations

At the current price of Rs 739.6, the price to earnings (P/E) ratio of TATA ELXSI stands at 17.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.3 times.

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For the quarter ended March 2019, TATA ELXSI has posted a net profit of Rs 713 m (up 1.4% YoY). Sales on the other hand came in at Rs 4 bn (up 7.9% YoY). Read on for a complete analysis of TATA ELXSI's quarterly results.

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