Honeywell Automation plunges 9% after subdued Q2 performance; details

Shares of Honeywell Automation plunged 9.1 per cent at Rs 44,500 per share on the NSE in Wednesday’s intraday trade. The stock fell after the company reported its second quarter earnings for the financial year 2024-25 (Q2FY25).

 

Engineering services company Honeywell Automation India reported its second-quarter results on Tuesday, October 29, 2024. The company’s net profit fell 5.7 per cent year-on-year, totaling Rs 115 crore for the three months ended September 2024, down from Rs 122 crore in the same quarter last year.

 

Revenue from operations also declined by 7.3 per cent to Rs 1,024 crore, compared to Rs 1,104 crore in the previous fiscal year. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) decreased by 6.7 per cent to Rs 129.1 crore, down from Rs 138.3 crore a year earlier. However, the company's margins slightly improved to 12.6 per cent, compared to 12.5 per cent last year.

 

Honeywell Automation India Ltd (HAIL) is a market leader in the Electronics-Instrumentation and Process Control Equipment industry. The company specialises in providing integrated automation and software solutions that enhance productivity, comfort, and security for homes and businesses.

 

 HAIL’s primary products include distributed control systems, building control systems, and smart transmitters. The company primarily operates in the Automation & Control systems sector, offering both turnkey solutions and other related services.

 

The company has a total market capitalisation of Rs 40,080.26 crore. Its shares are trading at a price to earnings multiple of 82 times and at an earning per share of Rs 596.78. 

 

At 10:29 AM, the stock price of the company was down 7.13 per cent at Rs 45,476.25 a piece on the NSE. By comparison, the NSE’s Nifty50 was down 0.25 per cent to 24,404.55 level.