SUPRAJIT ENGINEERING Announces Quarterly Results (3QFY20); Net Profit Down 20.4%

Mon, 3 Feb

SUPRAJIT ENGINEERING has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

SUPRAJIT ENGINEERING Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-18*	3 Sep-19*	3 Dec-19*	QoQ Change	YoY Change
Net Sales	Rs m	4,056	3,982	4,123	3.5%	1.6%
Other income	Rs m	184	134	53	-60.6%	-71.4%
Turnover	Rs m	4,241	4,116	4,175	1.5%	-1.5%
Expenses	Rs m	3,450	3,424	3,622	5.8%	5.0%
Gross profit	Rs m	607	558	501	-10.2%	-17.4%
Depreciation	Rs m	103	159	149	-6.6%	43.9%
Interest	Rs m	58	52	52	-0.6%	-10.7%
Profit before tax	Rs m	630	480	353	-26.5%	-43.9%
Tax	Rs m	238	30	41	35.3%	-82.7%
Profit after tax	Rs m	392	450	312	-30.6%	-20.4%
Gross profit margin	%	15.0	14.0	12.1
Effective tax rate	%	37.7	6.3	11.6
Net profit margin	%	9.2	10.9	7.5

Year-on-Year Performance:

• The company's operating income during the quarter grew 1.6% on a year-on-year (YoY) basis. The expenses were up by 5.0% YoY during the same period.
• The company's operating profit declined by 17.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.1% in 3QFY20 as against 15.0% in 3QFY19.
• Depreciation charges increased by 43.9% and finance costs declined by 10.7% YoY, respectively.
• Other income declined by 71.4% YoY during the quarter.
• Net profit for the quarter declined by 20.4% YoY. Net profit margins during the quarter declined from 9.2% in 3QFY19 to 7.5% in 3QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 3.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.8% QoQ during the same period.
• The company's operating profit declined by 10.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.1% in 3QFY20 as against 14.0% in 2QFY19.
• Net profit for the quarter declined by 30.6% QoQ, while net profit margins declined from 10.9% in 2QFY19 to 7.5% in 3QFY20.

To see how SUPRAJIT ENGINEERING has performed over the last eight quarters,please visit here.

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SUPRAJIT ENGINEERING Share Price Performance

Over the last one year,SUPRAJIT ENGINEERING share price has moved down from Rs 198.6 to Rs 197.3, registering a Loss of Rs 1.3 or around 0.7%.

Overall, the S&P BSE SENSEX is up 9.6% over the year.

Current Valuations

At the current price of Rs 197.3, the price to earnings (P/E) ratio of SUPRAJIT ENGINEERING stands at 19.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.