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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