ISGEC Heavy Engineering Ltd's Q3FY19 standalone net profit rises 26.7% yoy to Rs37.31cr

The company’s standalone revenue in the quarter stood at Rs1,052.54cr, up 58.8% yoy and 4.66% qoq.

February 09, 2019 11:05 IST | India Infoline Research Team

ISGEC Heavy Engineering Ltd Q3FY19

Standalone Results Q3FY19: (in Rs cr)

Q3FY19 YoY (%)
Revenue 1,052.54 58.8
EBITDA 70.74 31.1
EBITDA Margin (%) 6.7 [142]
Net Profit (adjusted) 37.31 26.7
***EBITDA margin change is bps
ISGEC Heavy Engineering Limited’s revenue from operations surged 58.8% yoy to Rs1,052.5cr in Q3FY19 vs. Rs662.8cr in Q3FY18. EBITDA for the current quarter witnessed a strong growth of 31.1% yoy to Rs70.7cr as compared to Rs54cr last year. EBITDA margin contracted 142bps yoy to 6.7% in Q3FY19. Profit after taxes jumped 26.7% yoy to Rs37.3cr for the December quarter of FY2019.
  • Gross profit for the December quarter increased 15.4% yoy to Rs293.5cr as against Rs254.3cr in the same quarter last year.
  • However, the gross profit margin declined from 38.4% in Q3FY18 to 27.9% in Q3FY19, mainly owing to a surge in the cost of materials (85.8% yoy to Rs759cr).
  • Bottom-line performance was mainly driven by strong performance at the top-line, further supported by a jump in other income of the company (up 40.9 yoy to Rs10.6cr)
  • Interest costs was Rs6.8cr in Q3FY19, a more than four-fold jump from Rs1.6cr in Q3FY18.
  • Employee expenses rose 14.3% yoy to Rs75.1cr in the December quarter as compared to Rs65.7cr for the same quarter last year.
  • Other expenses increased 9.7% yoy to Rs147.7cr in Q3FY19 vs. Rs134.7cr in Q3FY18.
  • Tax expenses for the quarter under consideration surged 44.2% yoy to Rs20.7cr vs. Rs14.4cr in Q3FY18.

Technical View:

ISGEC Heavy Engineering Ltd ended at Rs5,041.40, down 105.25 points, or 2.05%, from its previous close of Rs5,146.65 on the BSE. The scrip opened at Rs5,100 and touched a high and low of Rs5,119.55 and Rs5,010, respectively. A total of 651 (NSE+BSE) shares were traded on the counter. The stock traded above its 200-DMA.

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