Sunday, November 7, 2010

ENGINEERS INDIA LIMITE = Q2 FY 2011 (SEPT 2010) = RESULTS = MODERATE PERFORMANCE


Engineers India limited
NSE Symbol   ENGINERSIN
Q2 FY 2011 RESULTS
Engineers India has declared moderate results in Q2 FY2011.
Net Sales is Rs.593.61 cr – against Rs.606.04 cr in previous qtr (less by 2.05%) and  against Rs.468.20 Cr ( up by 26.79%) in corresponding qtr of last year.
Total Expenditure is Rs.450.18 Cr – down by 2.87% compared to previous Qtr – and up by 19.92% in corresponding Qtr.
Profit from Operations is Rs.143.43 cr -  up by 0.62% from previous Qtr and UP by a huge 54.54% from corresponding Qtr.
Net Profit        is Rs. 119.94 Cr -  up by 4.7% from previous Qtr and up by 13.83% only from corresponding Qtr. This is mainly due to a huge reduction in other Income in current quarter compared to corresponding qtr by 41.31%.
Paid Up Equity Share Capital  has gone up to Rs.168.47 cr in current qtr from Rs.  56.16 cr in previous qtrs – due to an FPO in July this year.
On the enhanced equity, the Basic EPS on a Face value of Rs.5/- is Rs.3.56       compared to Rs.3.4 in previous qtr and Rs.18.76 in corresponding qtr. On enhanced equity, the EPS in corresponding qtr would have been Rs.6.19 approximately. Thus, there is a reduction in EPS compared to last year’s corresponding qtr – mainly due to reduction in other income.
Currently the Rs.5 FV share of EIL is trading at Rs.350/-. The annual EPS is likely to be in the region of Rs.14. Thus, PE Ratio is around 25. 
RESULTS IN FIGURES :
ENGINEERS INDIA
30-Sep-10
30-Jun-10
DIF% 1
30-Sep-09
DIF%2
Net Sales
59361.3
60603.73
-2.05
46819.7
26.79
Employees Cost
11812.95
11858.4
-0.38
13130.41
-10.03
Depreciation
328.59
281.47
16.74
315.16
4.26
Other Expenditure
32876.88
34209.51
-3.9
24093.39
36.46
Total Expenditure
45018.42
46349.38
-2.87
37538.96
19.92
Profit from Operations
14342.88
14254.35
0.62
9280.74
54.54
Other Income
3486.37
2897.12
20.34
5940.79
-41.31
Interest
0.2
0.07
185.71
17.05
-98.83
Profit  before tax
17829.05
17151.4
3.95
15204.48
17.26
Tax expense
5835.01
5695.52
2.45
4667.81
25.01
Net Profit
11994.04
11455.88
4.7
10536.67
13.83
Face Value.Rs
5
5
0
10
-50
Basic EPS
3.56
3.4
4.71
18.76
-81.02
Public Shareholding (%)
19.59
9.6
104.06
9.59
104.28

ANNOUNCEMENTS
TO THE EXCHANGE

04-11-2010          Engineers India Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 59361.3 lacs for quarter ending on 30-SEP-2010 against Rs. 46819.7 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 11994.04 lacs for the quarter ending on 30-SEP-2010 against Rs. 10536.67 lacs for the quarter ending on 30-SEP-2009.

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