EBIT of C& E project segment was down 49% (to Rs 96.62 crore on a sales of RS 403.32 crore, a growth of 5%. The EBIT margin of C&E project segment was down to 24% from 49.3%.
EBIT of LTK segment was down 1% (to Rs 20.03 crore) on a sales of Rs 401.82 crore (down 19%) as the segment margin expand by 90 bps to 5%.
Full year results analysis.
Net sales (including other operating income) of Engineers India has declined 1% to Rs 3280.86 crore. Operating profit margin expanded from 6.9% to 9.1%. Thus the OP was up 29% to Rs 297.07 crore.
Other income was flat at Rs 163.55 crore. Provision for interest rose 103.33% to Rs 3.05 crore. Provision for depreciation rose 36.19% to Rs 35 crore. PBT was up 15% to Rs 422.57 crore. EO for the period was an income of Rs 55.61 crore ( interest income due to settlement with one of the clients in consultancy and engineering project segment) compared to an income of RS 78.78 crore ((towards write off in pursuant to settlement with a client in C&E project segment).
Profit before tax (after EO) grew 7.33% to Rs 478.18 crore. Provision for tax was expense of Rs 118.02 crore, compared to Rs 101.28 crore. Effective tax rate was 20.95% compared to 22.63%. Net profit (before MI) was up 5% to Rs 360.16 crore. Share of profit/loss was 4,092.12% higher at Rs 85.1 crore. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 28.59% to Rs 445.26 crore.
Equity capital stood at Rs 281.02 crore as of 31 March 2024 to Rs 281.02 crore as of 31 March 2023. Per share face Value remained same at Rs 5.00.
Loan funds rose to Rs 33.02 crore as of 31 March 2024 from Rs 18.88 crore as of 31 March 2023. Inventories declined from Rs 1.15 crore as of 31 March 2023 to Rs 0.62 crore as of 31 March 2024. Sundry debtors were lower at Rs 335.63 crore as of 31 March 2024 compared to Rs 367.65 crore as of 31 March 2023. Cash and bank balance rose to Rs 1,218.74 crore as of 31 March 2024 from Rs 1,096.35 crore as of 31 March 2023. Investments rose to Rs 1,388.55 crore as of 31 March 2024 from Rs 1,178.58 crore as of 31 March 2023 . Fixed assets increased to Rs 328.63 crore as of 31 March 2024 from Rs 302.50 crore as of 31 March 2023. Intangible assets increased from Rs 2.30 crore to Rs 4.88 crore.
Promoters’ stake was 51.32% as of 31 March 2024 ,compared to 51.32% as of 31 March 2023 .
| Engineers India: Consolidated Results |
|
|
|
|
|
| |
2403 (3) |
2303 (3) |
Var.(%) |
2403 (12) |
2303 (12) |
Var. (%) |
| Sales |
805.14 |
880.10 |
-9 |
3280.86 |
3330.14 |
-1 |
| OPM (%) |
9.6 |
10.0 |
|
9.1 |
6.9 |
|
| OP |
77.46 |
88.10 |
-12 |
297.07 |
229.58 |
29 |
| Other income |
51.14 |
44.92 |
14 |
163.55 |
164.36 |
0 |
| PBIDT |
128.60 |
133.02 |
-3 |
460.62 |
393.94 |
17 |
| Interest |
0.81 |
0.43 |
90 |
3.05 |
1.50 |
103 |
| PBDT |
127.79 |
132.60 |
-4 |
457.57 |
392.44 |
17 |
| Depreciation |
10.72 |
7.09 |
51 |
35.00 |
25.70 |
36 |
| PBT |
117.07 |
125.50 |
-7 |
422.57 |
366.74 |
15 |
| EO Exp |
0.00 |
-78.78 |
-100 |
-55.61 |
-78.78 |
-29 |
| PBT after EO |
117.07 |
204.28 |
-43 |
478.18 |
445.51 |
7 |
| Tax |
28.80 |
47.40 |
-39 |
119.35 |
101.16 |
18 |
| PAT |
88.28 |
156.88 |
-44 |
358.83 |
344.35 |
4 |
| PPT |
-1.33 |
0.00 |
|
-1.33 |
0.12 |
LP |
| Net profit |
89.61 |
156.88 |
-43 |
360.16 |
344.23 |
5 |
| Share of
profit/(Loss) in JV |
25.92 |
33.29 |
-22 |
85.10 |
2.03 |
4088 |
| Net profit
after JV profit/loss |
115.52 |
190.18 |
-39 |
445.26 |
346.27 |
29 |
| EPS (Rs)* |
# |
# |
|
7.2 |
5.1 |
|
| *
on current equity of Rs 281.0213 crore. Face Value: Rs 5 |
|
|
|
| EPS is
calculated after excluding EO and relevant tax |
|
|
|
| # EPS can
not be annualised due to seasonality in operations |
|
|
| Figures in Rs crore |
|
|
|
|
|
|
Source:
Capitaline Corporate database
| Engineers India: Consolidated segment results |
|
|
|
|
| Sales |
% to total |
2403 (3) |
2303 (3) |
Var.(%) |
% to total |
2403 (12) |
2303 (12) |
Var.(%) |
| Consultancy and Engineering Projects |
50 |
403.32 |
385.43 |
5 |
46 |
1502.98 |
1464.30 |
3 |
| Lumpsum Turnkey Projects |
50 |
401.82 |
494.67 |
-19 |
54 |
1777.88 |
1865.84 |
-5 |
| Total |
100 |
805.14 |
880.10 |
-9 |
100 |
3280.86 |
3330.14 |
-1 |
|
|
|
|
|
|
|
|
|
| PBIT |
|
|
|
|
|
|
|
|
| Consultancy and Engineering Projects |
83 |
96.62 |
190.04 |
-49 |
77 |
341.93 |
394.41 |
-13 |
| Lumpsum Turnkey Projects |
17 |
20.03 |
20.23 |
-1 |
23 |
102.42 |
52.11 |
97 |
| Total |
100 |
116.65 |
210.27 |
-45 |
100 |
444.35 |
446.52 |
0 |
| Prior Period
Adjustment |
|
|
|
|
|
|
|
| Interest |
|
0.81 |
0.43 |
90 |
|
3.05 |
1.50 |
103 |
| Less:
un-allcoable expenditure |
49.91 |
50.49 |
-1 |
|
182.29 |
163.92 |
11 |
| Add: Other Income |
|
51.14 |
44.92 |
14 |
|
219.16 |
164.42 |
33 |
| Total profit
before tax |
117.07 |
204.28 |
-43 |
|
478.18 |
445.51 |
7 |
| Figures in Rs crore |
|
|
|
|
|
|
|
|
| Source:
Capitaline Corporate database |
|
|
|
|
|
|
|
|
|
|
|