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For the quarter ended September 2018, Va Tech Wabag reported a 15% fall in its consolidated sales to Rs 751.96 crore. OPM fell 40 basis points to 8.4% which saw OP fall 19% to Rs 62.81 crore.
Other income jumped 96% to Rs 45 and interest cost rose 24% to Rs 17.68 crore. After providing for depreciation (down 6% to Rs 4.18 crore), PBT fell 30% to Rs 41.40 crore.
Provision for taxation slumped 36% to Rs 14.13 crore (tax incidence fell from 27.4% to 34.1%), after which PAT went down 26% to Rs 27.27 crore.
Minority interest and share of profit/loss of associate companies stood at a positive Rs 8.56 crore against a negative Rs 3.51 crore..
Finally net profit grew 7% to Rs 35.83 crore.
Six months results
For the six months, Va Tech Wabag reported a 7% fall in its consolidated sales to Rs 1439.81 crore. OPM fell 60 basis points to 7.4% which saw OP fall 14% to Rs 106.16 crore.
Other income fell 50% to Rs 1.10 crore and interest cost rose 18% to Rs 32.51 crore. After providing for depreciation (down 6% to Rs 8.45 crore), PBT fell 24% to Rs 64.10 crore.
Provision for taxation slumped 36% to Rs 24.22 crore (tax incidence fell from 44.8% to 37.8%), after which PAT went down 15% to Rs 39.88 crore.
Minority interest and share of profit/loss of associate companies stood at a positive Rs 8.95 crore against a negative Rs 5.07 crore..
Finally net profit grew 17% to Rs 48.83 crore.
FY 2018 performance
For FY 2018, consolidated sales grew 8% to Rs 32457.28 crore. OPM fell 80 bps points to 8.4% which saw OP fall 2% to Rs 291.76 crore.
PBT fell 6% to Rs 221.89 crore.
PAT went down 15% to Rs 144.49 crore.
Net profit grew 28% to Rs 131.51 crore.
Consolidated segment Performance
During the quarter Indian business contributed 26% of the total revenue. Revenue fell 42% to Rs 264.07 crore. PBIT stood at a profit of Rs 13.56 crore against a loss of Rs 17.57 crore and accounted for 6% of total
During the quarter Rest of the World business accounted for 74% of the total revenue. Revenue grew 5% to Rs 770.86 crore. PBIT fell 16% to Rs 204.05 crore and accounted for 94% of total
For the six months Indian business contributed 27% of the total revenue. Revenue fell 19% to Rs 945.95 crore. PBIT fell 17% to Rs 101.60 crore and accounted for 14% of total
During the six months Rest of the World business accounted for 73% of the total revenue. Revenue grew 20% to Rs 2592.56 crore. PBIT rose 27% to Rs 612.39 crore and accounted for 86% of total
Order book
Order intake stood at Rs 2990 crore out of which Rs 1586.4 crore was in Wabag India and Rs 1403.6 crore in Wabag Overseas.
It has order Book of Rs 8550 crore & Framework Contracts of Rs 699.6 crore.
Out of the order book, Rs 7013.8 is from EPC segment and the rest Rs 1541.1 is from the O&M.
Valuation
The share price trades at Rs 292.
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