TRIDENT 2018-19 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

TRIDENT 2018-19 Annual Report Analysis
Tue, 3 Sep

TRIDENT has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

TRIDENT Income Statement Analysis

  • Operating income during the year rose 15.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 16.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 18.8% in FY19 as against 18.7% in FY18.
  • Depreciation charges decreased by 9.9% and finance costs increased by 0.2% YoY, respectively.
  • Other income declined by 30.1% YoY.
  • Net profit for the year grew by 39.7% YoY.
  • Net profit margins during the year grew from 5.8% in FY18 to 7.0% in FY19.

TRIDENT Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 45,594 52,486 15.1%
Other income Rs m 621 434 -30.1%
Total Revenues Rs m 46,215 52,920 14.5%
Gross profit Rs m 8,513 9,890 16.2%
Depreciation Rs m 4,041 3,640 -9.9%
Interest Rs m 1,182 1,185 0.2%
Profit before tax Rs m 3,911 5,499 40.6%
Tax Rs m 1,256 1,784 42.1%
Profit after tax Rs m 2,662 3,718 39.7%
Gross profit margin % 18.7 18.8
Effective tax rate % 32.1 32.4
Net profit margin % 5.8 7.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



TRIDENT Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 18 billion as compared to Rs 17 billion in FY18, thereby witnessing an increase of 8.0%.
  • Long-term debt down at Rs 10 billion as compared to Rs 14 billion during FY18, a fall of 32.4%.
  • Current assets rose 11% and stood at Rs 20 billion, while fixed assets fell 9% and stood at Rs 38 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 62 billion as against Rs 62 billion during FY18, thereby witnessing a fall of 0%.

TRIDENT Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 27,263 29,730 9.1
 
Current Liabilities Rs m 16,861 18,216 8.0
Long-term Debt Rs m 14,108 9,536 -32.4
Total Liabilities Rs m 61,632 61,561 -0.1
 
Current assets Rs m 18,305 20,369 11.3
Fixed Assets Rs m 42,465 38,483 -9.4
Total Assets Rs m 61,632 61,561 -0.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



TRIDENT Cash Flow Statement Analysis

  • TRIDENT's cash flow from operating activities (CFO) during FY19 stood at Rs 7 billion, an improvement of 37.7% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -440 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -6 billion on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -380 million from the Rs 203 million net cash flows seen during FY18.

TRIDENT Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 4,763 6,557 37.7%
Cash Flow from Investing Activities Rs m -1,879 -440 -
Cash Flow from Financing Activities Rs m -2,681 -6,497 -
Net Cash Flow Rs m 203 -380 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for TRIDENT

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 7.5, an improvement from the EPS of Rs 5.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 55.8, stands at 6.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.1 times, while the price to sales ratio stands at 0.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 3.9 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 91.6 105.4
TTM Earnings per share Rs 5.3 7.5
Diluted earnings per share Rs 5.2 7.3
Price to Cash Flow x 4.1 3.9
TTM P/E ratio x 6.4 6.5
Price / Book Value ratio x 1.5 1.1
Market Cap Rs m 27,779 28,374
Dividends per share (Unadj.) Rs 1.5 3.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for TRIDENT

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.1x during FY19, from 1.1x during FY18. 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 improved and stood at 5.6x during FY19, from 4.3x during FY18. 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.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company improved and stood at 12.5% during FY19, from 9.8% during FY19. 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 improved and stood at 17.0% during FY19, from 12.3% during FY18. 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 improved and stood at 8.0% during FY19, from 6.2% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 1.1 1.1
Debtors’ Days Days 37 46
Interest coverage x 4.3 5.6
Debt to equity ratio x 0.5 0.3
Return on assets % 6.2 8.0
Return on equity % 9.8 12.5
Return on capital employed % 12.3 17.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how TRIDENT has performed over the last 5 years, please visit here.

TRIDENT Share Price Performance

Over the last one year, TRIDENT share price has moved down from Rs 67.7 to Rs 55.8, registering a loss of Rs 11.9 or around 17.5%.

Overall, the S&P BSE SENSEX is down 4.5% over the year.

(To know more, check out historical annual results for TRIDENT and quarterly results for TRIDENT)

Equitymaster requests your view! Post a comment on "TRIDENT 2018-19 Annual Report Analysis". Click here!

  

Related Views on News

TRIDENT Announces Quarterly Results (1QFY20); Net Profit Up 108.1% (Quarterly Result Update)

Aug 5, 2019 | Updated on Aug 5, 2019

For the quarter ended June 2019, TRIDENT has posted a net profit of Rs 1 bn (up 108.1% YoY). Sales on the other hand came in at Rs 13 bn (up 15.4% YoY). Read on for a complete analysis of TRIDENT's quarterly results.

TRIDENT Announces Quarterly Results (4QFY19); Net Profit Up 82.0% (Quarterly Result Update)

May 15, 2019 | Updated on May 15, 2019

For the quarter ended March 2019, TRIDENT has posted a net profit of Rs 926 m (up 82.0% YoY). Sales on the other hand came in at Rs 14 bn (up 18.6% YoY). Read on for a complete analysis of TRIDENT's quarterly results.

TRIDENT LTD. 2017-18 Annual Report Analysis (Annual Result Update)

Dec 21, 2018 | Updated on Dec 21, 2018

Here's an analysis of the annual report of TRIDENT LTD. for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of TRIDENT LTD.. Also includes updates on the valuation of TRIDENT LTD..

More Views on News

Most Popular

My 3 Best Small-cap Stocks to Get Rich in this Market Rebound(Profit Hunter)

Oct 14, 2019

This is once in a decade opportunity to make a killing from smallcap rebound.

Finally, Is the Share Price of Yes Bank Ready for a Rebound?(The 5 Minute Wrapup)

Oct 7, 2019

Here's what every individual investor must know about Yes Bank...

Two Stocks to Buy in the Great Indian Festival(Profit Hunter)

Oct 11, 2019

Discounts are not just limited to E-tailers. You can buy stocks at 50% off too. Here are two stocks to buy now.

The One Stock I Like in this Market(The 5 Minute Wrapup)

Oct 10, 2019

There are rare periods in markets when you get good quality stocks at attractive valuations. Is this one such period?

5 Smart Money Stocks to Profit from the Market Rebound(The 5 Minute Wrapup)

Oct 11, 2019

Now is the time to put money in these 5 stocks to take advantage of the recovery in the economy and the markets.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2020
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK TRIDENT

  • Track your investment in TRIDENT with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

COMPARE TRIDENT WITH

MARKET STATS