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HONEYWELL AUTOMATION Announces Quarterly Results (2QFY19); Net Profit Up 32.1%

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HONEYWELL AUTOMATION Announces Quarterly Results (2QFY19); Net Profit Up 32.1%
Mon, 12 Nov

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

HONEYWELL AUTOMATION Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m6,7327,7047,8231.5%16.2%
Other incomeRs m91247213-13.7%134.5%
TurnoverRs m6,8237,9508,0361.1%17.8%
ExpensesRs m5,6606,4996,4990.0%14.8%
Gross profitRs m1,0721,2051,32510.0%23.5%
DepreciationRs m3538391.0%11.6%
InterestRs m0000.0%0.0%
Profit before taxRs m1,1291,4131,4996.1%32.8%
TaxRs m3914965255.8%34.2%
Profit after taxRs m7379179746.2%32.1%
Gross profit margin%15.915.616.9
Effective tax rate%34.735.135.0
Net profit margin%10.811.512.1
* 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 grew 16.2% on a year-on-year (YoY) basis. The expenses were up by 14.8% YoY during the same period.
  • The company's operating profit increased by 23.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.9% in 2QFY19 as against 15.9% in 2QFY18.
  • Depreciation charges increased by 11.6% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 134.5% YoY during the quarter.
  • Net profit for the quarter increased by 32.1% YoY. Net profit margins during the quarter increased from 10.8% in 2QFY18 to 12.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.0% QoQ during the same period.
  • The company's operating profit increased by 10.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.9% in 2QFY19 as against 15.6% in 1QFY18.
  • Net profit for the quarter increased by 6.2% QoQ, while net profit margins increased from 11.5% in 1QFY18 to 12.1% in 2QFY19.

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 15,408.0 to Rs 20,650.0, registering a Gain of Rs 5,242.0 or around 34.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,281.2 (up 0.2%). Over the last one year it has moved down from 18,736.1 to 18,281.2, a gain of 455 points (down 2.4%).

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 20,650.0, the price to earnings (P/E) ratio of HONEYWELL AUTOMATION stands at 58.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 12.9 times.

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