SWELECT ENERGY SYSTEMS Announces Quarterly Results (3QFY19); Net Profit Down 42.1%
Fri, 15 Feb

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

SWELECT ENERGY SYSTEMS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m429258214-17.0%-50.0%
Other incomeRs m859110312.7%21.3%
TurnoverRs m513349317-9.2%-38.2%
ExpensesRs m382302203-32.7%-46.8%
Gross profitRs m47-4111-76.6%
DepreciationRs m30334329.1%42.4%
InterestRs m1518194.2%29.0%
Profit before taxRs m87-152-39.7%
TaxRs m20314376.0%-32.0%
Profit after taxRs m67-339-42.1%
Gross profit margin%10.9-15.85.1
Effective tax rate%23.5-550.926.5
Net profit margin%13.0-1.012.1
* 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 fell 50.0% on a year-on-year (YoY) basis. The expenses were down by 46.8% YoY during the same period.
  • The company's operating profit declined by 76.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.1% in 3QFY19 as against 10.9% in 3QFY18.
  • Depreciation charges increased by 42.4% and finance costs increased by 29.0% YoY, respectively.
  • Other income increased by 21.3% YoY during the quarter.
  • Net profit for the quarter declined by 42.1% YoY. Net profit margins during the quarter declined from 13.0% in 3QFY18 to 12.1% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 17.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 32.7% QoQ during the same period.
  • The company's operating profit increased by 126.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 5.1% in 3QFY19 as against 15.8% in 2QFY18.
  • Net profit for the quarter increased by 1216.5% QoQ, while net profit margins increased from -0.9% in 2QFY18 to 12.1% in 3QFY19.

To see how SWELECT ENERGY SYSTEMS has performed over the last eight quarters, please visit here.

SWELECT ENERGY SYSTEMS Share Price Performance

Over the last one year, SWELECT ENERGY SYSTEMS share price has moved up from Rs 448.7 to Rs 206.0, registering a Loss of Rs 242.7 or around 54.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,352.0 (up 0.1%). Over the last one year it has moved down from 19,459.0 to 16,352.0, a gain of 3,107 points (down 16.0%).

Overall, the S&P BSE SENSEX is up 4.5% over the year.

Current Valuations

At the current price of Rs 206.0, the price to earnings (P/E) ratio of SWELECT ENERGY SYSTEMS stands at 15.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.