- Sales of Consultancy Engineering Projects segment has gone up 2.37% to Rs 370.37 crore (accounting for 42.69% of total sales). Sales of Turnkey Projects segment has gone up 3.52% to Rs 497.27 crore (accounting for 57.31% of total sales).
- Profit before interest, tax and other unallocable items (PBIT) has jumped 12.39% to Rs 91.59 crore. PBIT of Consultancy Engineering Projects segment fell 6.25% to Rs 67.91 crore (accounting for 74.14% of total PBIT). PBIT of Turnkey Projects segment rose 161.18% to Rs 23.69 crore (accounting for 25.86% of total PBIT).
- PBIT margin of Consultancy Engineering Projects segment fell from 20.02% to 18.33%. PBIT margin of Turnkey Projects segment rose from 1.89% to 4.76%. Overall PBIT margin rose from 9.68% to 10.56%.
For year-to-date (YTD) results analysis.
Consolidated net sales (including other operating income) of Engineers India for the quarter ended Dec 2023 has increased 1.05% to Rs 2475.72 crore. Sales of Consultancy Engineering Projects segment has gone up 1.93% to Rs 1,099.66 crore (accounting for 44.42% of total sales). Sales of Turnkey Projects segment has gone up 0.36% to Rs 1,376.06 crore (accounting for 55.58% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 38.71% to Rs 327.70 crore. PBIT of Consultancy Engineering Projects segment rose 20.03% to Rs 245.31 crore (accounting for 74.86% of total PBIT). PBIT of Turnkey Projects segment rose 158.46% to Rs 82.39 crore (accounting for 25.14% of total PBIT).
PBIT margin of Consultancy Engineering Projects segment rose from 18.94% to 22.31%. PBIT margin of Turnkey Projects segment rose from 2.32% to 5.99%. Overall PBIT margin rose from 9.64% to 13.24%.
Operating profit margin has jumped from 5.77% to 8.87%, leading to 55.28% rise in operating profit to Rs 219.61 crore. Employee cost increased from 29.06% to 29.91%. Other expenses fell from 65.17% to 61.22%. Selling and administration expenses fell from 18.93% to 15.17%. Construction development cost fell from 18.93% to 15.17%. Contract job process charges rose from 36.26% to 37.50%.
Other income rose 40.61% to Rs 168.02 crore. PBIDT rose 48.56% to Rs 387.63 crore. Provision for interest rose 107.41% to Rs 2.24 crore.
PBDT rose 48.32% to Rs 385.39 crore. Provision for depreciation rose 30.47% to Rs 24.28 crore.
Profit before tax grew 49.70% to Rs 361.11 crore. Provision for tax was expense of Rs 90.56 crore, compared to Rs 53.88 crore. PAT was up 44% to Rs 270.55 crore. Minority interest was nil in both the periods. Share of profit from associates was Rs 59.18 crore against a loss of Rs 31.26 crore in corresponding previous period. Net profit attributable to owners of the company increased 111% to Rs 329.73 crore.
Other developments
Order intake for Q3FY24 and 9mFY24 stood at Rs 637.1 crore and Rs 3046.5 crore respectively. The order backlog as end of Dec 31, 2023 stood at Rs 7990.6 crore and of which 59% is consultancy orders and balance 41% is turnkey orders (LSTK).
Promoters’ stake was 51.32% as of 31 December 2023 ,compared to 51.32% as of 31 December 2022 .
| Engineers India: Consolidated Results |
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| |
2312 (3) |
2212 (3) |
Var.(%) |
2312 (9) |
2212 (9) |
Var.(%) |
2303 (12) |
2203 (12) |
Var. (%) |
| Sales |
867.64 |
842.18 |
3 |
2475.72 |
2450.04 |
1 |
3330.14 |
2912.78 |
14 |
| OPM (%) |
5.8 |
5.9 |
|
8.9 |
5.8 |
|
9.3 |
11.8 |
|
| OP |
50.07 |
49.75 |
1 |
219.60 |
141.42 |
55 |
308.36 |
344.11 |
-10 |
| Other income |
30.50 |
26.40 |
16 |
168.02 |
119.49 |
41 |
164.36 |
129.94 |
26 |
| PBIDT |
80.57 |
76.15 |
6 |
387.63 |
260.92 |
49 |
472.72 |
474.05 |
0 |
| Interest |
0.67 |
0.44 |
50 |
2.24 |
1.08 |
107 |
1.50 |
0.96 |
57 |
| PBDT |
79.90 |
75.71 |
6 |
385.39 |
259.84 |
48 |
471.21 |
473.09 |
0 |
| Depreciation |
8.46 |
6.70 |
26 |
24.28 |
18.61 |
30 |
25.70 |
23.63 |
9 |
| PBT |
71.44 |
69.01 |
4 |
361.11 |
241.23 |
50 |
445.51 |
449.46 |
-1 |
| EO Exp |
0.00 |
0.00 |
|
0.00 |
0.00 |
|
0.00 |
0.00 |
|
| PBT after EO |
71.44 |
69.01 |
4 |
361.11 |
241.23 |
50 |
445.51 |
449.46 |
-1 |
| Tax |
18.70 |
18.43 |
1 |
90.56 |
53.77 |
68 |
101.16 |
110.17 |
-8 |
| PAT |
52.74 |
50.58 |
4 |
270.55 |
187.47 |
44 |
344.35 |
339.29 |
1 |
| PPT |
0.00 |
0.00 |
|
0.00 |
0.12 |
|
0.12 |
-3.60 |
PL |
| Net profit |
52.74 |
50.58 |
4 |
270.55 |
187.35 |
44 |
344.23 |
342.89 |
0 |
| Share of
profit/(Loss) in JV |
10.61 |
-34.46 |
LP |
59.18 |
-31.26 |
LP |
2.03 |
-203.37 |
-101 |
| Net profit
after JV profit/loss |
63.35 |
16.12 |
293 |
329.73 |
156.09 |
111 |
346.27 |
139.52 |
148 |
| EPS (Rs)* |
# |
# |
|
# |
# |
|
6.2 |
2.4 |
|
| *
on current equity of Rs 281.0213 crore. Face Value: Rs 5 |
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| EPS is
calculated after excluding EO and relevant tax |
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| # EPS can
not be annualised due to seasonality in operations |
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| Figures in Rs crore |
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| Source:
Capitaline Corporate database |
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