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Results
13-Aug-22
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Analysis
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Engineers India
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Sharp lift in net is due to swing of Rs 103.27 crore to Rs 13.32 crore in share of profit from associate
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Consolidated net sales (including other operating income) of Engineers India for the quarter ended Jun 2022 has increased 9.21% to Rs 814.8 crore. Operating profit margin has declined from 14.27% to 5.75%, leading to 56.01% decline in operating profit to Rs 46.83 crore. Employee cost decreased from 30.19% to 28.02%. Other expenses rose from 55.54% to 66.23%. Selling and administration expenses fell from 18.52% to 16.05%. Construction development cost fell from 18.52% to 16.05%. Contract job process charges rose from 29.08% to 39.03%. Other income rose 20.69% to Rs 27.94 crore. PBIDT fell 42.31% to Rs 74.77 crore. Provision for interest fell 37.04% to Rs 0.17 crore. PBDT fell 42.32% to Rs 74.6 crore. Provision for depreciation rose 5.03% to Rs 5.22 crore. Profit before tax down 44.21% to Rs 69.38 crore. Provision for tax was expense of Rs 17.89 crore, compared to Rs 31.74 crore. Effective tax rate was 21.63% compared to 92.21%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 2,318.28% to Rs 64.81 crore. - Sales of Consultancy Engineering Projects segment has gone down 4.39% to Rs 360.41 crore (accounting for 44.23% of total sales). Sales of Lumpsum PrTurnkey ojects segment has gone up 23.09% to Rs 454.39 crore (accounting for 55.77% of total sales).
- Profit before interest, tax and other unallocable items (PBIT) has slumped 42.92% to Rs 70.87 crore. PBIT of Consultancy Engineering Projects segment fell 45.16% to Rs 61.70 crore (accounting for 87.07% of total PBIT). PBIT of Lumpsum PrTurnkey ojects segment fell 21.25% to Rs 9.16 crore (accounting for 12.93% of total PBIT).
- PBIT margin of Consultancy Engineering Projects segment fell from 29.85% to 17.12%. PBIT margin of Lumpsum PrTurnkey ojects segment fell from 3.15% to 2.02%. Overall PBIT margin fell from 16.64% to 8.70%.
Promoters’ stake was 51.32% as of 30 June 2022 ,compared to 51.32% as of 30 June 2021 .
Engineers India : Consolidated Results | | Quarter ended | Year ended |
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Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
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Net Sales (including other operating income) | 814.80 | 746.08 | 9.21 | 2,912.78 | 3,144.17 | -7.36 | OPM (%) | 5.75 | 14.27 | -852 bps | 11.81 | 11.13 | 69 bps | OP | 46.83 | 106.46 | -56.01 | 344.12 | 349.85 | -1.64 | Other Inc. | 27.94 | 23.15 | 20.69 | 129.94 | 188.78 | -31.17 | PBIDT | 74.77 | 129.61 | -42.31 | 474.06 | 538.63 | -11.99 | Interest | 0.17 | 0.27 | -37.04 | 0.96 | 3.69 | -73.98 | PBDT | 74.60 | 129.34 | -42.32 | 473.10 | 534.94 | -11.56 | Depreciation | 5.22 | 4.97 | 5.03 | 23.63 | 23.65 | -0.08 | PBT | 69.38 | 124.37 | -44.21 | 449.47 | 511.29 | -12.09 | Share of Profit/(Loss) from Associates | 13.32 | -89.95 | LP | -203.37 | -12.55 | -1,520.48 | PBT before EO | 82.7 | 34.42 | 140.27 | 246.1 | 498.74 | -50.66 | EO Income | 0 | 0 | - | 0 | -154.96 | - | PBT after EO | 82.7 | 34.42 | 140.27 | 246.1 | 343.78 | -28.41 | Taxation | 17.89 | 31.74 | -43.64 | 106.58 | 94.87 | 12.34 | PAT | 64.81 | 2.68 | 2,318.28 | 139.52 | 248.91 | -43.95 | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | Net profit | 64.81 | 2.68 | 2,318.28 | 139.52 | 248.91 | -43.95 | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | Net profit after discontinued operations | 64.81 | 2.68 | 2,318.28 | 139.52 | 248.91 | -43.95 | EPS (Rs)* | 1.15 | 0.05 | 2,318.28 | 2.48 | 6.45 | -61.52 | | * EPS is on current equity of Rs 281.02 crore, Face value of Rs 5, Excluding extraordinary items. | # EPS is not annualised | bps : Basis points | EO : Extraordinary items | Figures in Rs crore | Source: Capitaline Corporate Database |
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Engineers India : Consolidated Segment Results | | Quarter ended | Year ended |
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| % of (Total) | 202206 | 202106 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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Sales | Consultancy Engineering Projects | 44.23 | 360.41 | 376.94 | -4.39 | 51.49 | 1,499.88 | 1,422.80 | 5.42 | Lumpsum PrTurnkey ojects | 55.77 | 454.39 | 369.14 | 23.09 | 48.51 | 1,412.90 | 1,721.37 | -17.92 | Total Reported Sales | 100.00 | 814.80 | 746.08 | 9.21 | 100.00 | 2,912.78 | 3,144.17 | -7.36 | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | Net Sales | 100.00 | 814.80 | 746.08 | 9.21 | 100.00 | 2,912.78 | 3,144.17 | -7.36 | PBIT | Consultancy Engineering Projects | 87.07 | 61.70 | 112.51 | -45.16 | 92.18 | 420.02 | 393.91 | 6.63 | Lumpsum PrTurnkey ojects | 12.93 | 9.16 | 11.64 | -21.25 | 7.82 | 35.66 | 55.81 | -36.11 | Total PBIT | 100.00 | 70.87 | 124.15 | -42.92 | 100.00 | 455.68 | 449.71 | 1.33 | Less : Interest | | 0.17 | 0.27 | -37.84 | | 0.96 | 3.69 | -74.12 | Add: Other un-allcoable | | -1.31 | 0.50 | PL | | -5.26 | -89.70 | 94.14 | PBIT Margin(%) | Consultancy Engineering Projects | | 17.12 | 29.85 | -1,272.88 | | 28.00 | 27.69 | 31.82 | Lumpsum PrTurnkey ojects | | 2.02 | 3.15 | -113.56 | | 2.52 | 3.24 | -71.84 | PBT | 100.00 | 69.38 | 124.37 | -44.21 | 100.00 | 449.46 | 356.32 | 26.14 |
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