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Engineers India reported a 15% rise in net sales for Mar 18 quarter to Rs 509.71 crore. The OPM stood at 11.3% down by 100 bps resulting in a 6% increase in OP to Rs 57.50 crore. Other income was lower by 16% to Rs 47.90 crore. The interest costs were lower by 88% to Rs 0.37 crore, depreciation costs were lower by 4% to Rs 5.77 crore. Thus at PBT level, profit for Mar 18 quarter stood at Rs 99.26 crore down by 3% YoY. After paying total tax of Rs 30.34 crore down by 16% YoY, PAT for Mar 18 quarter stood at Rs 68.92 crore increases by 4% YoY.
For the quarter, sales from the consultancy segment stood at Rs 337.27 crore and accounted for 66% of sales. PBIT from the same was down by 31% to Rs 89.64 crore and accounted for 88% of total.
For the quarter, sales from the turnkey Segment stood at Rs 172.44 crore and accounted for 34% of sales. PBIT from the same was down by 63% to Rs 12.10 crore and accounted for 12% of total.
Performance for 12 months ended Mar 18
The company reported 23% rise in net sales to Rs 1787.58 crore for 12 months ended Mar 18. OPM was up by 220 bps to 23.1% thus resulting in a 37% rise in OP to Rs 413.03 crore. Other income was down by 20% to Rs 179.47. Interest cost was down by 82% to Rs 0.57 crore resulting in a 13% increase in PBDT to Rs 591.93 crore. Depreciation was up by 6% to Rs 23.83 crore, thus resulting in the PBT growth of 14% to Rs 568.10 crore. After providing total tax of Rs 190.23 crore, PAT for 12 months ended Mar 18 period was higher by 16% to Rs 377.87 crore.
For the 12 months, sales from the consultancy segment stood at Rs 1379.29 crore and accounted for 77% of sales. PBIT from the same was up by 20% to Rs 430.27 crore and accounted for 85% of total.
For the 12 months, sales from the turnkey segment stood at Rs 408.29 crore and accounted for 23% of sales. PBIT from the same was down by 27% to Rs 75.37 crore and accounted for 15% of total.
Other updates
Order book as on Mar 18 stood at Rs 7873 crore, up by 1%. Average execution period of the order book is around 32-36 months.
Around 53% of order book is from consultancy segment and rest from EPC.
The board recommends a final dividend of Rs 1.5 per equity share of face value of Rs 5 each for FY 18.
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