HONEYWELL AUTOMATION Announces Quarterly Results (4QFY19); Net Profit Up 44.1%

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HONEYWELL AUTOMATION Announces Quarterly Results (4QFY19); Net Profit Up 44.1%
Tue, 14 May

HONEYWELL AUTOMATION has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

HONEYWELL AUTOMATION Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m6,3988,1188,103-0.2%26.7%
Other incomeRs m125177150-15.5%19.7%
TurnoverRs m6,5238,2958,253-0.5%26.5%
ExpensesRs m5,5966,9366,858-1.1%22.6%
Gross profitRs m8021,1821,2455.3%55.2%
DepreciationRs m4339438.9%0.9%
InterestRs m30350.0%1142.9%
Profit before taxRs m8821,3201,317-0.2%49.3%
TaxRs m2984634762.7%59.6%
Profit after taxRs m584856841-1.8%44.1%
Gross profit margin%12.514.615.4
Effective tax rate%33.835.136.1
Net profit margin%8.910.310.2
* 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 26.7% on a year-on-year (YoY) basis. The expenses were up by 22.6% YoY during the same period.
  • The company's operating profit increased by 55.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.4% in 4QFY19 as against 12.5% in 4QFY18.
  • Depreciation charges increased by 0.9% and finance costs increased by 1142.9% YoY, respectively.
  • Other income increased by 19.7% YoY during the quarter.
  • Net profit for the quarter increased by 44.1% YoY. Net profit margins during the quarter increased from 8.9% in 4QFY18 to 10.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.1% QoQ during the same period.
  • The company's operating profit increased by 5.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.4% in 4QFY19 as against 14.6% in 3QFY18.
  • Net profit for the quarter declined by 1.8% QoQ, while net profit margins declined from 10.3% in 3QFY18 to 10.2% in 4QFY19.

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 18,815.5 to Rs 23,263.0, registering a Gain of Rs 4,447.5 or around 23.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,329.2 (up 0.2%). Over the last one year it has moved down from 19,063.4 to 17,329.2, a gain of 1,734 points (down 9.1%).

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 23,263.0, the price to earnings (P/E) ratio of HONEYWELL AUTOMATION stands at 57.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 14.5 times.

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