Engineers India Ltd Q2FY17
Standalone Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||27.7||1,321|
|Net Profit (adjusted)||94||21.4|
Engineers India’s Q2FY17 standalone numbers came in mixed versus Bloomberg estimates. Revenue for the period came in 11.5% below the estimate of Rs 383 cr. However, EBITDA came in 35.2% better than the estimate of Rs 69 cr. Also, net profit for the period came in 12.6% higher than the estimated figure of Rs 83 cr.
Net revenue for the quarter fell by 24.6% yoy to Rs 339 cr. This was primarily due to fall in revenue of turnkey projects segment by 67% yoy.
However, EBITDA for the period rose 44.4% yoy to Rs 94 cr led by an EBITDA margins expansion of 1321 bps to 27.7%. This EBITDA margin expansion was primarily the impact of an 89% yoy decline in construction material expenses.
Also, net profit for the period rose by 21.4% yoy to Rs 94 cr due to an 8% yoy decline in other income.
Engineers India Ltd ended at Rs. 262, up by 4.75 points or 1.85% from its previous closing of Rs. 257.25 on the BSE.
The scrip opened at Rs. 265.5 and touched a high and low of Rs. 265.5 and Rs. 254.9 respectively. A total of 1454602(NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.
BSE 147.30 [0.55] ([0.37]%)
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