Download Report

Elecon Engineering Company Ltd.
Anand Sojitra Road, Vallabh Vidyanagar – 388120, Gujarat, India
Elecon’s consolidated FY2015 Net Revenue at Rs 1,328.9 crore;
PAT up 20%, declares a dividend of 55%
Vadodara, India, May 1st, 2015: Elecon Engineering Company Limited, one of the largest manufacturers of
gears in Asia today announced its financial results for the fourth quarter and full year ended 31st March, 2015
Performance Highlights
Consolidated FY15 review (Y-o-Y)

Total Operating revenue was Rs 1,328.9 crore as compared to Rs 1,292.9 crore during the corresponding
period of previous year reflecting an increase of 3%.

EBITDA stood at Rs 169.8 crore as compared to Rs 149.7 crore during the corresponding period of previous
year, an increase of 13%.

EBITDA Margin at 12.8% for FY15 as against 11.6% in FY 14, up 120 bps.

Net profit stood after taxes, minority interest and share of profit/loss of associates stood at Rs 16.3 crore for
FY15 as compared to Rs 13.7 crore in the corresponding period of the previous year, an increase of 20%.

Basic EPS stood at Rs 1.50 as against Rs. 1.26 in FY 14, an increase of 19%
Standalone FY15 review (Y-o-Y)

Total Operating income was Rs 503.2 crore for FY15 as compared to Rs 501.2 crore in the corresponding
period of the previous year

EBITDA stood at Rs 106.5 crore as compared to Rs 100.1 crore during the corresponding period of previous
year, an increase of 6%.

EBITDA Margin at 21.2 % for FY15 as against 20.0% in FY14, up 122 bps.

Net profit stood at Rs 33.2 crore for FY15 as compared to Rs 27.4 crore in the corresponding period of the
previous year, an increase of 21%

Basic EPS stood at Rs 3.05 as against Rs. 2.52, an increase of 21% over the same period last year.
Standalone Q4FY15 review (Y-o-Y)

Total Operating income was Rs 176.0 crore for Q4FY15 as compared to Rs 163.0 crore in the corresponding
period of the previous year reflecting an increase of 8% in rupee terms.

EBITDA stood at Rs 42.0 crore as compared to Rs 33.4 crore during the corresponding period of previous
year, an increase of 26%.

EBITDA Margin at 23.9% for Q4FY15 as against 20.5% in Q4FY14, up 340 bps.

Net profit stood at Rs 22.8 crore for Q4FY15 as compared to Rs 10.9 crore in the corresponding period of the
previous year, an increase of 109%.

Basic EPS stood at Rs 2.09 as against Rs. 1.00 in the corresponding quarter of last fiscal, an increase of 109%.
Commenting on the Company’s performance for FY2015, Mr. Prayasvin Patel, CMD said “We had a satisfying
year given the general state of the economy and the overall demand situation which is yet to look up in the sectors
we operate in. While we had a marginal increase in our consolidated revenue at a consolidated level, the margin
improvement of almost 110 bps is a sign that the operational efficiency and cost optimization measures that we
had initiated is taking effect.”
He also said, “I am confident that with the uptick in economy and a favorable budgetary policy put in place by the
government, the addressable pipeline of opportunities for the Company will increase many folds and would result in
a strong growth for fiscal 2016.”
Financial Highlights
Profit and Loss account for the Quarter and Year ended
Q4
(Standalone)
Particulars (Rs. Cr.)
FY15
YOY
Growth
(%)
FY14
Full Year
(Standalone)
FY15
Full Year
(Consolidated)
YOY
Growth
(%)
FY14
YOY
Growth
(%)
FY15
FY14
1,328.9
1,292.9
1,328.9
1,292.9
787.4
729.4
Income from Operations
Net Sales/ Income from Operations
Other Operating Income
Total Income from Operations (Net)
174.6
161.9
497.8
496.3
1.4
1.1
5.4
4.9
176.0
163.0
503.2
501.2
88.8
64.9
264.0
243.3
-
-
7.1
31.5
12.9
8%
0%
3%
Expenses
(a) Cost of Material Consumed
(b) Purchase of stock in trade
(c) Changes in inventories/WIP
(d) Employee Benefit Expense
6.5
5.1
27.0
29.8
31.4
174.0
8.2
6.8
36.9
43.2
143.3
(e) Depreciation & Amortization 14.9
11.2
51.6
45.4
71.6
61.6
(f) Other Expenditure
29.9
26.6
82.8
87.7
192.2
203.3
148.9
140.9
448.3
446.6
1,230.7
1,204.9
EBIT Before Other Income /
27.1
22.2
54.9
54.6
98.2
88.1
Other Income
13.1
3.0
22.7
17.6
16.6
15.3
EBIT Before Exceptional Items
40.2
25.2
60%
77.6
72.2
7%
114.8
103.4
30.0
33.2
80.9
74.0
105%
47.6
39.0
22%
33.9
29.3
-
-
-
-
105%
47.6
39.0
22%
33.9
29.3
14.5
11.5
16.8
15.1
109%
33.2
27.4
21%
17.1
14.2
0.2
0.2
Total Expenses
Finance Costs
PBT Before Exceptional Items
Exceptional Item
PBT
Tax Expense
PAT
7.8
9.4
32.4
15.8
-
-
32.4
15.8
9.6
4.9
22.8
10.9
22%
0%
Share of Profit / (loss) of associates
Minority interest
(1.0)
(0.7)
PAT after taxes, minority interest
16.3
13.7
21.8
21.8
11%
11%
16%
16%
21%
20%
and share of profit/ (loss) of associates
Paid-up Equity Share Capital
21.8
21.8
Basic EPS (Not annualized)
2.09
1.00
Diluted EPS (Not annualized)
2.09
1.00
21.8
21.8
109%
3.05
2.52
21%
1.50
1.26
19%
109%
3.05
2.52
21%
1.50
1.26
19%
(Face Value of share Rs 2 each)
Earnings Per Share
Order Book Position
Order Book Position- Elecon Engineering
Particulars (Values in Cr)
Q4FY15
Q3FY15
Q2FY15
Q1FY15
Q4FY14
Q3FY14
Orders Booked
152
106
107
118
159
131
Order Pending
234
263
275
287
266
276
Page 2 of 4
Statement of the Assets and Liabilities
Particulars (Rs. Cr.)
(Standalone)
FY15
FY14
(Consolidated)
FY15
FY14
Equity and Liability
(1) Shareholders' Funds
(a) Share Capital
(b) Reserves and Surplus
21.8
21.8
21.8
21.8
488.6
469.9
513.8
510.3
510.4
491.7
535.6
532.1
36.0
35.0
(2) Minority Interest
(3) Non - Current Liabilities
(a) Long-term borrowings
(b) Deferred Tax Liabilities
(c) Other Long term liabilities
(d) Long-term provisions
(4) Current liabilities
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short-term provisions
TOTAL
89.3
65.5
163.2
137.8
32.8
1.1
1.7
124.9
39.1
1.1
2.0
107.7
36.1
113.1
3.2
315.5
43.2
139.0
3.3
323.2
138.4
208.7
56.3
16.2
419.6
166.2
208.6
73.0
15.2
463.0
339.6
515.3
204.3
21.3
1,080.5
439.6
494.0
215.1
21.7
1,170.4
1,054.9
1,062.4
1,967.6
2,060.7
Assets
(1) Goodwill on Consolidation
(2) Non-current assets
(a) Fixed assets
(b) Non-current investments
(c) Net Deferred Tax Assets
(d) Long-term loans and advances
(e) Other non-current assets
(3) Current assets
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and Bank Balances
(e) Short-term loans and advances
(f) Other current assets
Total
-
-
52.6
52.6
550.0
4.8
3.2
18.5
65.3
694.4
335.6
199.2
380.5
37.1
14.7
0.8
550.3
41.5
0.8
459.8
474.3
6.1
3.4
17.1
53.7
607.2
130.2
226.8
3.1
16.9
127.6
504.5
121.3
168.6
4.4
13.9
294.4
602.5
9.3
346.3
858.2
31.5
108.8
6.3
1,360.4
9.6
357.9
853.1
22.3
114.7
8.8
1,366.4
1,054.9
1,062.4
1,967.6
2,060.7
Page 3 of 4
About Elecon Engineering Company Ltd.
Elecon Engineering Company Ltd (BSE code: 505700, NSE code: ELECON) is one of Asia’s largest gear
manufacturing Company with vast experience of about five decades and significant business presence in
India and abroad. The Company designs and manufactures worm gears; parallel shaft and right angle shaft;
helical and spiral level helical gears; fluid geared and flexible couplings, as well as planetary gear boxes.
The Company through its subsidiary Elecon EPC also manufacturers material handling equipment, mining
equipment, casting processes amongst others. The company was incorporated in 1960 by Shri Ishwarbhai B
Patel and has its headquarters in Vallabh Vidyanagar, Gujrat.
For more info visit: www.elecon.com
If you have any questions or require further information, please feel free to contact
Rajat Jain
Diwakar Pingle
Elecon Engineering Company Ltd.
Christensen Investor Relations
Ph:+ 91-2692-238701/02/03/04
Tel : +91 022 4215 0210
Email:
Email :
[email protected]
[email protected]
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to
certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that
could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Elecon Engineering Company
Ltd. will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these
forward-looking statements to reflect subsequent events or circumstances.
Page 4 of 4