Equitymaster Agora Research Private Limited

25 June, 2016

Elpro International Ltd.

Market data
Quarter results overview
Current price* Rs 34 (BSE)
Market cap * Rs 2352.8 m
Result performance review
Face value Rs 2
BSE Code 504000
Elpro International Ltd reported quarterly results for December
No. of shares 69.2m 2015. The companys operating income witnessed a fall of 14.1%
Free float 34.4% on a year on year (YoY) basis during the quarter. The expenses
52 week H/L* Rs91.44/24.05 were up by 40.3% YoY during the same period.
*as on 24thJun 16
The company reported an operating profit of Rs 10.2 m during the
quarter as compared to profit of Rs 43.1 m during the same
Rs 100 invested is now worth quarter of the previous year. Consequently, the operating margins
got impacted and declined to 12.8% during the quarter.
BSE500 Elpro Int.
160 Depreciation and interest charges were lower by 8.3% YoY and
1.8% YoY respectively for the December 2015 quarter.
120

80 The companys net profit decreased to 39.1 m during the quarter.

40
Jun-15 Dec-15 Jun-16 Quarter result comparison snapshot
Rs m Dec-14 Sep-15 Dec-15 QoQch YoY ch
Shareholding (Mar-2016) Operating Income 92.6 71.5 79.5 11.2% -14.1%
Category (%) Other income 0.5 1.0 0.6 -40.0% 20.0%
Promoters 65.6 Total Income 93.0 72.5 80.1 10.5% -13.9%
FIIs 0.0 Expenses 49.4 60.0 69.3 15.5% 40.3%
DIIs 0.0 Operating profit 43.1 11.5 10.2 -11.3% -76.3%
Others 34.4 Depreciation 1.2 1.1 1.1 0.0% -8.3%
Total 100.0 Interest 49.8 47.6 48.9 2.7% -1.8%
Profit before tax -7.4 -36.1 -39.1 8.3% NA
Tax 0.0 0.0 0.0 NA NA
Profit after tax -7.4 -36.1 -39.1 8.3% NA
Report prepared by Operating profit margin 46.5% 16.1% 12.8%
Equitymaster Agora Research Effective tax rate 0.0% 0.0% 0.0%
Private Limited. Net profit margin -8.0% -50.5% -49.2%
www.equitymaster.com Diluted EPS -0.1 -0.5 -0.6
[email protected]
Note: Quarter results exclude extraordinary / exceptional items | Wherever the results are
consolidated we have taken consolidated numbers else standalone. NA = Not applicable
Current valuation
The companys stock trades at Rs 34 per share. Its trailing twelve
months earnings are negative; hence its P/E ratio is not meaningful.

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 25 June, 2016

Quarterly financial trend charts

Net Sales Profit after tax
100 0
80 -10

(Rs m)
60 -20
(Rs m)

40 -30
20 -40
0 -50
Mar-15 Jun-15 Sep-15 Dec-15 Mar-15 Jun-15 Sep-15 Dec-15

Operating profit margin Net profit margin

50.0 0.0
40.0
-20.0
30.0
(%)
(%)

20.0
-40.0
10.0
0.0 -60.0
Mar-15 Jun-15 Sep-15 Dec-15 Mar-15 Jun-15 Sep-15 Dec-15

Important Message from Equitymaster:

This report has been prepared exclusively for the BSE Investor Protection initiative. The data for this
report has been sourced primarily from the companys Annual Report and other publicly available
information.
Equitymaster did not meet the management of this company in person.
Equitymaster insists that it makes no recommendation by way of presenting this report.
The only purpose of this report is to make available publicly information on the company to readers in a
format that is easy to understand

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