Results     13-Aug-22
Analysis
Engineers India
Sharp lift in net is due to swing of Rs 103.27 crore to Rs 13.32 crore in share of profit from associate
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 endedYear ended
Particulars202206202106Var.(%)202203202103Var.(%)
Net Sales (including other operating income)814.80746.089.212,912.783,144.17-7.36
OPM (%)5.7514.27-852 bps11.8111.1369 bps
OP46.83106.46-56.01344.12349.85-1.64
Other Inc.27.9423.1520.69129.94188.78-31.17
PBIDT74.77129.61-42.31474.06538.63-11.99
Interest0.170.27-37.040.963.69-73.98
PBDT74.60129.34-42.32473.10534.94-11.56
Depreciation5.224.975.0323.6323.65-0.08
PBT69.38124.37-44.21449.47511.29-12.09
Share of Profit/(Loss) from Associates13.32-89.95LP-203.37-12.55-1,520.48
PBT before EO82.734.42140.27246.1498.74-50.66
EO Income00-0-154.96-
PBT after EO82.734.42140.27246.1343.78-28.41
Taxation17.8931.74-43.64106.5894.8712.34
PAT64.812.682,318.28139.52248.91-43.95
Minority Interest (MI)00-00-
Net profit64.812.682,318.28139.52248.91-43.95
P/(L) from discontinued operations net of tax00-00-
Net profit after discontinued operations64.812.682,318.28139.52248.91-43.95
EPS (Rs)*1.150.052,318.282.486.45-61.52
* 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


Engineers India : Consolidated Segment Results
 Quarter endedYear ended
% of (Total)202206202106Var.(%)% of (Total)202203202103Var.(%)
Sales
Consultancy Engineering Projects44.23360.41376.94-4.3951.491,499.881,422.805.42
Lumpsum PrTurnkey ojects55.77454.39369.1423.0948.511,412.901,721.37-17.92
Total Reported Sales100.00814.80746.089.21100.002,912.783,144.17-7.36
Less: Inter segment revenues 0.000.00- 0.000.00-
Net Sales100.00814.80746.089.21100.002,912.783,144.17-7.36
PBIT
Consultancy Engineering Projects87.0761.70112.51-45.1692.18420.02393.916.63
Lumpsum PrTurnkey ojects12.939.1611.64-21.257.8235.6655.81-36.11
Total PBIT100.0070.87124.15-42.92100.00455.68449.711.33
Less : Interest0.170.27-37.840.963.69-74.12
Add: Other un-allcoable-1.310.50PL-5.26-89.7094.14
PBIT Margin(%)
Consultancy Engineering Projects 17.1229.85-1,272.88 28.0027.6931.82
Lumpsum PrTurnkey ojects 2.023.15-113.56 2.523.24-71.84
PBT100.0069.38124.37-44.21100.00449.46356.3226.14
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