PATEL ENGG. Announces Quarterly Results (4QFY19); Net Profit Down 85.5%
Fri, 3 May

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

PATEL ENGG. Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m4,6894,8414,9041.3%4.6%
Other incomeRs m75255599579.3%32.2%
TurnoverRs m5,4415,3965,8999.3%8.4%
ExpensesRs m4,1924,0984,80717.3%14.7%
Gross profitRs m1,190743103-86.2%-91.4%
DepreciationRs m1039511419.4%10.9%
InterestRs m1,0748318401.1%-21.8%
Profit before taxRs m766372144-61.4%-81.3%
TaxRs m-648423-72.7%
Profit after taxRs m830287121-58.1%-85.5%
Gross profit margin%25.415.42.1
Effective tax rate%-8.422.716.0
Net profit margin%15.35.32.0
* 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 4.6% on a year-on-year (YoY) basis. The expenses were up by 14.7% YoY during the same period.
  • The company's operating profit declined by 91.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.1% in 4QFY19 as against 25.4% in 4QFY18.
  • Depreciation charges increased by 10.9% and finance costs declined by 21.8% YoY, respectively.
  • Other income increased by 32.2% YoY during the quarter.
  • Net profit for the quarter declined by 85.5% YoY. Net profit margins during the quarter declined from 15.3% in 4QFY18 to 2.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 17.3% QoQ during the same period.
  • The company's operating profit declined by 86.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.1% in 4QFY19 as against 15.4% in 3QFY18.
  • Net profit for the quarter declined by 58.1% QoQ, while net profit margins declined from 5.3% in 3QFY18 to 2.0% in 4QFY19.

To see how PATEL ENGG. has performed over the last eight quarters, please visit here.

PATEL ENGG. Share Price Performance

Over the last one year, PATEL ENGG. share price has moved up from Rs 60.8 to Rs 25.1, registering a Loss of Rs 35.7 or around 58.7%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,042.1 (up 1.6%). Over the last one year it has moved down from 2,345.0 to 2,042.1, a gain of 303 points (down 12.9%).

Overall, the S&P BSE SENSEX is up 10.8% over the year.

Current Valuations

At the current price of Rs 25.1, the price to earnings (P/E) ratio of PATEL ENGG. stands at 2.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.1 times.