ANDHRA PETRO 2020-21 Annual Report Analysis

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ANDHRA PETRO 2020-21 Annual Report Analysis
Wed, 27 Oct

ANDHRA PETRO has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

ANDHRA PETRO Income Statement Analysis

  • Operating income during the year rose 24.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 322.4% YoY during the fiscal. Operating profit margins witnessed a fall and down at 24.2% in FY21 as against 7.1% in FY20.
  • Depreciation charges increased by 9.5% and finance costs increased by 500.1% YoY, respectively.
  • Other income grew by 16.4% YoY.
  • Net profit for the year grew by 450.6% YoY.
  • Net profit margins during the year grew from 3.0% in FY20 to 13.4% in FY21.

ANDHRA PETRO Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 4,559 5,661 24.2%
Other income Rs m 33 39 16.4%
Total Revenues Rs m 4,593 5,699 24.1%
Gross profit Rs m 325 1,372 322.4%
Depreciation Rs m 128 140 9.5%
Interest Rs m 15 91 500.1%
Profit before tax Rs m 215 1,179 449.0%
Tax Rs m 76 415 446.0%
Profit after tax Rs m 139 765 450.6%
Gross profit margin % 7.1 24.2
Effective tax rate % 35.4 35.2
Net profit margin % 3.0 13.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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ANDHRA PETRO Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 403 million as compared to Rs 313 million in FY20, thereby witnessing an increase of 28.9%.
  • Current assets rose 144% and stood at Rs 2 billion, while fixed assets fell 3% and stood at Rs 2 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 4 billion as against Rs 3 billion during FY20, thereby witnessing a growth of 32%.

ANDHRA PETRO Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 2,235 3,037 35.9
 
Current Liabilities Rs m 313 403 28.9
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 3,372 4,465 32.4
 
Current assets Rs m 818 1,997 144.0
Fixed Assets Rs m 2,554 2,468 -3.4
Total Assets Rs m 3,372 4,465 32.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



ANDHRA PETRO Cash Flow Statement Analysis

  • ANDHRA PETRO's cash flow from operating activities (CFO) during FY21 stood at Rs 1 billion, an improvement of 207.6% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -1 billion, an improvement of 637.0% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -66 million, an improvement of 73% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 65 million from the Rs 10 million net cash flows seen during FY20.

ANDHRA PETRO Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Mar-20 Mar-21
Cash Flow from Operating Activities Rs m 407 1,253 207.6%
Cash Flow from Investing Activities Rs m -152 -1,122 -
Cash Flow from Financing Activities Rs m -245 -66 -
Net Cash Flow Rs m 10 65 546.9%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for ANDHRA PETRO

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.0, an improvement from the EPS of Rs 1.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 141.4, stands at 8.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.2 times, while the price to sales ratio stands at 0.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 13.3 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Sales per share (Unadj.) Rs 53.7 66.6
TTM Earnings per share Rs 1.6 9.0
Diluted earnings per share Rs 1.6 9.0
Price to Cash Flow x 45.0 13.3
TTM P/E ratio x 8.5 8.5
Price / Book Value ratio x 1.6 1.2
Market Cap Rs m 12,011 12,011
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for ANDHRA PETRO

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 5.0x during FY21, from 2.6x during FY20. 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 13.9x during FY21, from 15.1x during FY20. 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 25.2% during FY21, from 6.2% during FY21. 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 41.8% during FY21, from 10.3% during FY20. 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 19.2% during FY21, from 4.6% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Current ratio x 2.6 5.0
Debtors’ Days Days 48 28
Interest coverage x 15.1 13.9
Debt to equity ratio x 0.0 0.0
Return on assets % 4.6 19.2
Return on equity % 6.2 25.2
Return on capital employed % 10.3 41.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

ANDHRA PETRO Share Price Performance

Over the last one year, ANDHRA PETRO share price has moved up from Rs 38.2 to Rs 141.4, registering a gain of Rs 103.2 or around 270.0%.

Overall, the S&P BSE SENSEX is up 52.3% over the year.

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

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