HONEYWELL AUTOMATION Announces Quarterly Results (1QFY21); Net Profit Down 14.0%

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HONEYWELL AUTOMATION Announces Quarterly Results (1QFY21); Net Profit Down 14.0%
Tue, 18 Aug

HONEYWELL AUTOMATION has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

HONEYWELL AUTOMATION Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m8,5707,0437,3624.5%-14.1%
Other incomeRs m186337174-48.3%-6.4%
TurnoverRs m8,7577,3807,5372.1%-13.9%
ExpensesRs m6,8835,7576,0835.7%-11.6%
Gross profitRs m1,6871,2861,279-0.5%-24.2%
DepreciationRs m85118116-1.7%36.1%
InterestRs m221515-2.6%-31.5%
Profit before taxRs m1,7661,4891,323-11.2%-25.1%
TaxRs m625378342-9.6%-45.3%
Profit after taxRs m1,1411,111981-11.8%-14.0%
Gross profit margin%19.718.317.4
Effective tax rate%35.425.425.8
Net profit margin%13.015.113.0
* 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 14.1% on a year-on-year (YoY) basis. The expenses were down by 11.6% YoY during the same period.
  • The company's operating profit declined by 24.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.4% in 1QFY21 as against 19.7% in 1QFY20.
  • Depreciation charges increased by 36.1% and finance costs declined by 31.5% YoY, respectively.
  • Other income declined by 6.4% YoY during the quarter.
  • Net profit for the quarter declined by 14.0% YoY. Net profit margins during the quarter declined from 13.0% in 1QFY20 to 13.0% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.7% QoQ during the same period.
  • The company's operating profit declined by 0.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.4% in 1QFY21 as against 18.3% in 4QFY20.
  • Net profit for the quarter declined by 11.8% QoQ, while net profit margins declined from 15.1% in 4QFY20 to 13.0% in 1QFY21.

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

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HONEYWELL AUTOMATION Share Price Performance

Over the last one year,HONEYWELL AUTOMATION share price has moved up from Rs 23,208.6 to Rs 30,367.8, registering a Gain of Rs 7,159.2 or around 30.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 13,954.0 (up 0.2%). Over the last one year it has moved down from 16,929.6 to 13,954.0, a gain of 2,976 points (down 17.6%).

Overall, the S&P BSE SENSEX is up 2.3% over the year.

Current Valuations

At the current price of Rs 30,367.8, the price to earnings (P/E) ratio of HONEYWELL AUTOMATION stands at 56.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 15.4 times.

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