Electrosteel Castings Q2 Results Live : Electrosteel Castings declared their Q2 results on October 30, 2024, reporting a concerning downturn in both revenue and profit. The company’s topline decreased by 4.77% year-over-year, while profit fell by 11.11% compared to the same quarter last year.
In a quarter-over-quarter comparison, Electrosteel Castings witnessed a more significant decline, with revenue dropping by 9.15% and profit plummeting by 31.32%. This alarming trend indicates challenges in maintaining profitability and sales momentum.
The company also reported a rise in Selling, General & Administrative expenses, which increased by 12.19% quarter-over-quarter and by 6.59% year-over-year. This spike in expenses has contributed to the overall decline in operating income, which fell by 28.02% compared to the previous quarter and by 14.2% year-over-year.
Earnings per share (EPS) for Q2 stood at ₹2.51, reflecting a decrease of 14.63% year-over-year. This reduction in EPS further highlights the financial challenges faced by Electrosteel Castings in the current economic climate.
Despite the recent struggles, Electrosteel Castings has delivered mixed results over the past year, with a -1.82% return in the last week and a more significant -14.34% return over the last six months. However, the company has managed to achieve a robust 48.83% return year-to-date.
As of now, Electrosteel Castings has a market capitalization of ₹10,185.21 crore, with a 52-week high of ₹236.6 and a low of ₹83.9. The stock’s volatility reflects broader market conditions and investor sentiment.
Looking ahead, analysts remain cautiously optimistic, with one covering analyst issuing a Strong Buy rating as of November 1, 2024. The consensus recommendation indicates a potential rebound, despite the current downturn.
Electrosteel Castings Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 1827.8 | 2011.9 | -9.15% | 1919.34 | -4.77% |
| Selling/ General/ Admin Expenses Total | 138.69 | 123.62 | +12.19% | 130.12 | +6.59% |
| Depreciation/ Amortization | 36.09 | 31.84 | +13.36% | 30.44 | +18.57% |
| Total Operating Expense | 1596.22 | 1690.18 | -5.56% | 1649.41 | -3.23% |
| Operating Income | 231.59 | 321.72 | -28.02% | 269.93 | -14.2% |
| Net Income Before Taxes | 212.47 | 304.54 | -30.23% | 230.83 | -7.95% |
| Net Income | 155.17 | 225.93 | -31.32% | 174.57 | -11.11% |
| Diluted Normalized EPS | 2.51 | 3.65 | -31.23% | 2.94 | -14.63% |
