Elecon Engineering Co Q2 Results Live : Elecon Engineering Co declared their Q2 results on 18 Oct, 2024, showing a topline increase of 4.79% year-over-year (YoY), while profits experienced a slight decline of 0.96%. The company reported a significant revenue growth of 29.51% compared to the previous quarter, and profit saw an impressive increase of 19.57%.
In terms of expenses, the Selling, General & Administrative (SG&A) costs saw a decline of 1.49% quarter-over-quarter (q-o-q) but rose by 6.04% YoY. This reflects the company's efforts to manage costs while facing increased expenses in the longer term.
Operating income for the quarter was up by 24.66% q-o-q, although it fell by 5.96% YoY. This indicates a strong recovery in the recent quarter compared to the previous one, despite a year-over-year decline.
Earnings per share (EPS) came in at ₹3.91 for Q2, marking a notable decrease of 50.44% YoY, which may raise concerns among investors about profitability trends.
Despite the mixed quarterly results, Elecon Engineering Co has shown resilience in the market, delivering a 2.77% return in the last week, 35.99% over the last six months, and an impressive 55.66% year-to-date (YTD) return.
The company's market capitalization stands at ₹16,189.33 crore, with a 52-week high of ₹739.1 and a low of ₹356.62, showcasing its strong performance in a fluctuating market.
As of 19 Oct, 2024, all analysts covering Elecon Engineering have issued a 'Strong Buy' rating, indicating positive sentiment towards the company's future prospects.
Furthermore, the company has announced an interim dividend of ₹0.5, with the record date set for 28 Oct, 2024, and an ex-dividend date on the same day, which could enhance shareholder value.
Elecon Engineering Co Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 508.14 | 392.36 | +29.51% | 484.9 | +4.79% |
| Selling/ General/ Admin Expenses Total | 46.34 | 47.04 | -1.49% | 43.7 | +6.04% |
| Depreciation/ Amortization | 13.13 | 12.83 | +2.34% | 13.28 | -1.13% |
| Total Operating Expense | 408.97 | 312.81 | +30.74% | 379.44 | +7.78% |
| Operating Income | 99.17 | 79.55 | +24.66% | 105.46 | -5.96% |
| Net Income Before Taxes | 110.54 | 94.15 | +17.41% | 117.17 | -5.66% |
| Net Income | 87.72 | 73.36 | +19.57% | 88.57 | -0.96% |
| Diluted Normalized EPS | 3.91 | 3.27 | +19.57% | 7.89 | -50.44% |
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