AMARA RAJA BATT. has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.
AMARA RAJA BATT. Income Statement Analysis
- Operating income during the year rose 14.0% on a year-on-year (YoY) basis.
- The company's operating profit increased by 3.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 14.6% in FY18 as against 16.0% in FY17.
- Depreciation charges and finance costs increased by 20.5% YoY and 12.3% YoY, respectively.
- Other income grew by 34.8% YoY.
- Net profit for the year declined by 1.5% YoY.
- Net profit margins during the year declined from 8.9% in FY17 to 7.7% in FY18.
AMARA RAJA BATT. Income Statement 2017-18
No. of Mths Year Ending | 12 Mar-17* | 12 Mar-18* | % Change | |
---|---|---|---|---|
Net Sales | Rs m | 53,172 | 60,592 | 14.0% |
Other income | Rs m | 492 | 664 | 34.8% |
Total Revenues | Rs m | 53,664 | 61,255 | 14.1% |
Gross profit | Rs m | 8,499 | 8,832 | 3.9% |
Depreciation | Rs m | 1,912 | 2,303 | 20.5% |
Interest | Rs m | 58 | 51 | -12.3% |
Profit before tax | Rs m | 7,022 | 7,142 | 1.7% |
Tax | Rs m | 2,237 | 2,429 | 8.6% |
Profit after tax | Rs m | 4,785 | 4,713 | -1.5% |
Gross profit margin | % | 16.0 | 14.6 | |
Effective tax rate | % | 31.9 | 34.0 | |
Net profit margin | % | 8.9 | 7.7 |
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster
AMARA RAJA BATT. Balance Sheet Analysis
- The company's current liabilities during FY18 stood at Rs 10 billion as compared to Rs 8 billion in FY17, thereby witnessing an increase of 30.7%.
- Long-term debt down at Rs 584 million as compared to Rs 690 million during FY17, a fall of 15.3%.
- Current assets rose 22% and stood at Rs 22 billion, while fixed assets rose 12% and stood at Rs 19 billion in FY18.
- Overall, the total assets and liabilities for FY18 stood at Rs 42 billion as against Rs 36 billion during FY17, thereby witnessing a growth of 16%.
AMARA RAJA BATT. Balance Sheet as on March 2018
No. of Mths Year Ending | 12 Mar-17* | 12 Mar-18* | % Change | |
---|---|---|---|---|
Networth | Rs m | 25,931 | 29,374 | 13.3 |
Current Liabilities | Rs m | 7,596 | 9,930 | 30.7 |
Long-term Debt | Rs m | 690 | 584 | -15.3 |
Total Liabilities | Rs m | 35,846 | 41,686 | 16.3 |
Current assets | Rs m | 17,586 | 21,523 | 22.4 |
Fixed Assets | Rs m | 17,273 | 19,296 | 11.7 |
Total Assets | Rs m | 35,846 | 41,686 | 16.3 |
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster
AMARA RAJA BATT. Cash Flow Statement Analysis
- AMARA RAJA BATT.'s cash flow from operating activities (CFO) during FY18 stood at Rs 3 billion on a YoY basis.
- Cash flow from investing activities (CFI) during FY18 stood at Rs -2 billion on a YoY basis.
- Cash flow from financial activities (CFF) during FY18 stood at Rs -1 billion on a YoY basis.
- Overall, net cash flows for the company during FY18 stood at Rs -520 million from the Rs 223 million net cash flows seen during FY17.
AMARA RAJA BATT. Cash Flow Statement 2017-18
Particulars | No. of months | 12 | 12 | % Change |
---|---|---|---|---|
Year Ending | Mar-17 | Mar-18 | ||
Cash Flow from Operating Activities | Rs m | 5,529 | 3,217 | -41.8% |
Cash Flow from Investing Activities | Rs m | -5,349 | -2,443 | - |
Cash Flow from Financing Activities | Rs m | -20 | -1,382 | - |
Net Cash Flow | Rs m | 223 | -520 | - |
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster
Current Valuations for AMARA RAJA BATT.
- The trailing twelve-month earnings per share (EPS) of the company stands at Rs 27.6, an decline from the EPS of Rs 28.0 recorded last year.
- The price to earnings (P/E) ratio, at the current price of Rs 854.0, stands at 30.1 times its trailing twelve months earnings.
- The price to book value (P/BV) ratio at current price levels stands at 4.7 times, while the price to sales ratio stands at 2.3 times.
- The company's price to cash flow (P/CF) ratio stood at 20.8 times its end-of-year operating cash flow earnings.
Per Share Data/Valuations
No. of Mths Year Ending | 12 Mar-17* | 12 Mar-18* | |
---|---|---|---|
Sales per share (Unadj.) | Rs | 311.3 | 354.7 |
TTM Earnings per share | Rs | 28.0 | 27.6 |
Diluted earnings per share | Rs | 28.0 | 27.6 |
Price to Cash Flow | x | 21.8 | 20.8 |
TTM P/E ratio | x | 30.1 | 30.1 |
Price / Book Value ratio | x | 6.2 | 4.7 |
Market Cap | Rs m | 145,872 | 145,880 |
Dividends per share (Unadj.) | Rs | 4.3 | 4.2 |
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster
Ratio Analysis for AMARA RAJA BATT.
Solvency Ratios
Profitability Ratios
Current Ratio: The company's current ratio improved and stood at 2.2x during FY18, from 2.3x during FY17. The current ratio measures the company's ability to pay short-term and long-term obligations.
Interest Coverage Ratio: The company's interest coverage ratio deteriorated and stood at 142.1x during FY18, from 122.7x during FY17. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.
Return on Equity (ROE): The ROE for the company declined and down at 16.0% during FY18, from 18.5% during FY18. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.
Return on Capital Employed (ROCE): The ROCE for the company declined and down at 24.0% during FY18, from 26.6% during FY17. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.
Return on Assets (ROA): The ROA of the company declined and down at 11.4% during FY18, from 13.5% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.
Key Ratio Analysis
No. of Mths Year Ending | 12 Mar-17* | 12 Mar-18* | |
---|---|---|---|
Current ratio | x | 2.3 | 2.2 |
Debtors’ Days | Days | 39 | 47 |
Interest coverage | x | 122.7 | 142.1 |
Debt to equity ratio | x | 0.0 | 0.0 |
Return on assets | % | 13.5 | 11.4 |
Return on equity | % | 18.5 | 16.0 |
Return on capital employed | % | 26.6 | 24.0 |
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster
To see how AMARA RAJA BATT. has performed over the last 5 years, please visit here.
AMARA RAJA BATT. Share Price Performance
Over the last one year, AMARA RAJA BATT. share price has moved up from Rs 813.4 to Rs 854.0, registering a gain of Rs 40.7 or around 5.0%.
Overall, the S&P BSE SENSEX is up 19.8% over the year.
(To know more, check out historical annual results for AMARA RAJA BATT. and quarterly results for AMARA RAJA BATT.)
This article was originally published in English at www.equitymaster.com
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