HONEYWELL AUTOMATION Announces Quarterly Results (3QFY21); Net Profit Up 3.6%

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HONEYWELL AUTOMATION Announces Quarterly Results (3QFY21); Net Profit Up 3.6%
Fri, 5 Feb

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

HONEYWELL AUTOMATION Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m9,0127,5978,74215.1%-3.0%
Other incomeRs m19214428598.1%48.3%
TurnoverRs m9,2047,7419,02616.6%-1.9%
ExpensesRs m7,1266,1546,86611.6%-3.6%
Gross profitRs m1,8861,4431,87630.0%-0.6%
DepreciationRs m11511412711.1%10.2%
InterestRs m181813-25.0%-27.9%
Profit before taxRs m1,9441,4552,02038.8%3.9%
TaxRs m49737452139.2%4.9%
Profit after taxRs m1,4471,0811,49938.7%3.6%
Gross profit margin%20.919.021.5
Effective tax rate%25.625.725.8
Net profit margin%15.714.016.6
* 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 3.0% on a year-on-year (YoY) basis. The expenses were down by 3.6% YoY during the same period.
  • The company's operating profit declined by 0.6% YoY during the quarter. Consequently, operating profit margins remained same and stood at 21.5% in 3QFY21.
  • Depreciation charges increased by 10.2% and finance costs declined by 27.9% YoY, respectively.
  • Other income increased by 48.3% YoY during the quarter.
  • Net profit for the quarter increased by 3.6% YoY. Net profit margins during the quarter increased from 15.7% in 3QFY20 to 16.6% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 15.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 11.6% QoQ during the same period.
  • The company's operating profit increased by 30.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.5% in 3QFY21 as against 19.0% in 2QFY20.
  • Net profit for the quarter increased by 38.7% QoQ, while net profit margins increased from 14.0% in 2QFY20 to 16.6% in 3QFY21.

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 34,038.8 to Rs 41,910.1, registering a Gain of Rs 7,871.3 or around 23.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 21,666.6 (down 0.7%). Over the last one year it has moved up from 17,135.0 to 21,666.6, a gain of 4,532 points (up 26.4%).

Overall, the S&P BSE SENSEX is up 27.4% over the year.

Current Valuations

At the current price of Rs 41,910.1, the price to earnings (P/E) ratio of HONEYWELL AUTOMATION stands at 79.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 21.2 times.

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