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HONEYWELL AUTOMATION Announces Quarterly Results (3QFY19); Net Profit Up 37.5%

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HONEYWELL AUTOMATION Announces Quarterly Results (3QFY19); Net Profit Up 37.5%
Wed, 13 Feb

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

HONEYWELL AUTOMATION Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m7,2157,8238,1183.8%12.5%
Other incomeRs m66213177-16.8%168.5%
TurnoverRs m7,2818,0368,2953.2%13.9%
ExpensesRs m6,2916,4996,9366.7%10.3%
Gross profitRs m9241,3251,182-10.8%27.9%
DepreciationRs m3639392.3%8.8%
InterestRs m0000.0%0.0%
Profit before taxRs m9541,4991,320-12.0%38.3%
TaxRs m332525463-11.8%39.8%
Profit after taxRs m623974856-12.1%37.5%
Gross profit margin%12.816.914.6
Effective tax rate%34.735.035.1
Net profit margin%8.612.110.3
* 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 12.5% on a year-on-year (YoY) basis. The expenses were up by 10.3% YoY during the same period.
  • The company's operating profit increased by 27.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.6% in 3QFY19 as against 12.8% in 3QFY18.
  • Depreciation charges increased by 8.8% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 168.5% YoY during the quarter.
  • Net profit for the quarter increased by 37.5% YoY. Net profit margins during the quarter increased from 8.6% in 3QFY18 to 10.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.7% QoQ during the same period.
  • The company's operating profit declined by 10.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.6% in 3QFY19 as against 16.9% in 2QFY18.
  • Net profit for the quarter declined by 12.1% QoQ, while net profit margins declined from 12.1% in 2QFY18 to 10.3% in 3QFY19.

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 17,737.0 to Rs 21,400.0, registering a Gain of Rs 3,663.1 or around 20.7%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,498.5 (down 0.4%). Over the last one year it has moved down from 19,558.3 to 16,498.5, a gain of 3,060 points (down 15.6%).

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

Current Valuations

At the current price of Rs 21,400.0, the price to earnings (P/E) ratio of HONEYWELL AUTOMATION stands at 56.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 13.3 times.

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