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HONEYWELL AUTOMATION Announces Quarterly Results (1QFY19); Net Profit Up 65.6%

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HONEYWELL AUTOMATION Announces Quarterly Results (1QFY19); Net Profit Up 65.6%
Wed, 8 Aug

HONEYWELL AUTOMATION has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

HONEYWELL AUTOMATION Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m6,6376,3987,70420.4%16.1%
Other incomeRs m8712524797.2%182.3%
TurnoverRs m6,7246,5237,95021.9%18.2%
ExpensesRs m5,8385,5966,49916.1%11.3%
Gross profitRs m7998021,20550.2%50.7%
DepreciationRs m394338-10.4%-1.8%
InterestRs m030-100.0%0.0%
Profit before taxRs m8488821,41360.3%66.7%
TaxRs m29429849666.4%68.7%
Profit after taxRs m55458491757.1%65.6%
Gross profit margin%12.012.515.6
Effective tax rate%34.733.835.1
Net profit margin%8.28.911.5
* 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 16.1% on a year-on-year (YoY) basis. The expenses were up by 11.3% YoY during the same period.
  • The company's operating profit increased by 50.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.6% in 1QFY19 as against 12.0% in 1QFY18.
  • Depreciation charges and finance costs declined by 1.8% YoY and 0.0% YoY, respectively.
  • Other income increased by 182.3% YoY during the quarter.
  • Net profit for the quarter increased by 65.6% YoY. Net profit margins during the quarter increased from 8.2% in 1QFY18 to 11.5% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 20.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 16.1% QoQ during the same period.
  • The company's operating profit increased by 50.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.6% in 1QFY19 as against 12.5% in 4QFY18.
  • Net profit for the quarter increased by 57.1% QoQ, while net profit margins increased from 9.0% in 4QFY18 to 11.5% in 1QFY19.

To see how HONEYWELL AUTOMATION has performed over the last eight quarters, please visit here.

HONEYWELL AUTOMATION Share Price Performance

Over the last one year, HONEYWELL AUTOMATION share price has moved up from Rs 12,546.8 to Rs 21,800.0, registering a Gain of Rs 9,253.3 or around 73.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,392.5 (up 0.6%). Over the last one year it has moved up from 17,611.1 to 18,392.5, a gain of 781 points (up 4.4%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 21,800.0, the price to earnings (P/E) ratio of HONEYWELL AUTOMATION stands at 67.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 16.3 times.

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