AEGIS LOGISTICS 2020-21 Annual Report Analysis

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AEGIS LOGISTICS 2020-21 Annual Report Analysis
Tue, 19 Oct

AEGIS LOGISTICS 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.

AEGIS LOGISTICS Income Statement Analysis

  • Operating income during the year fell 46.5% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 40.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 10.1% in FY21 as against 3.8% in FY20.
  • Depreciation charges increased by 4.2% and finance costs decreased by 47.7% YoY, respectively.
  • Other income grew by 12.3% YoY.
  • Net profit for the year grew by 86.0% YoY.
  • Net profit margins during the year grew from 1.9% in FY20 to 6.4% in FY21.

AEGIS LOGISTICS Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 71,833 38,435 -46.5%
Other income Rs m 328 369 12.3%
Total Revenues Rs m 72,161 38,803 -46.2%
Gross profit Rs m 2,766 3,876 40.2%
Depreciation Rs m 687 716 4.2%
Interest Rs m 331 173 -47.7%
Profit before tax Rs m 2,076 3,356 61.7%
Tax Rs m 736 864 17.4%
Profit after tax Rs m 1,340 2,492 86.0%
Gross profit margin % 3.8 10.1
Effective tax rate % 35.5 25.7
Net profit margin % 1.9 6.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Check Out: Why Millions of Dollars are Getting Pumped into this Sector?

AEGIS LOGISTICS Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 5 billion as compared to Rs 8 billion in FY20, thereby witnessing an decrease of -33.9%.
  • Long-term debt stood at Rs 1 billion as compared to Rs 485 million during FY20, a growth of 131.6%.
  • Current assets fell 29% and stood at Rs 6 billion, while fixed assets rose 21% and stood at Rs 24 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 30 billion as against Rs 29 billion during FY20, thereby witnessing a growth of 6%.

AEGIS LOGISTICS Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 15,282 19,365 26.7
 
Current Liabilities Rs m 7,644 5,056 -33.9
Long-term Debt Rs m 485 1,123 131.6
Total Liabilities Rs m 28,734 30,420 5.9
 
Current assets Rs m 8,516 6,018 -29.3
Fixed Assets Rs m 20,218 24,402 20.7
Total Assets Rs m 28,734 30,420 5.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



AEGIS LOGISTICS Cash Flow Statement Analysis

  • AEGIS LOGISTICS's cash flow from operating activities (CFO) during FY21 stood at Rs 4 billion, an improvement of 201.8% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -4 billion, an improvement of 182.7% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs 608 million, an improvement of 148% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 744 million from the Rs -1 billion net cash flows seen during FY20.

AEGIS LOGISTICS 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 1,463 4,416 201.8%
Cash Flow from Investing Activities Rs m -1,514 -4,280 -
Cash Flow from Financing Activities Rs m -1,258 608 -
Net Cash Flow Rs m -1,309 744 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for AEGIS LOGISTICS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 7.1, an improvement from the EPS of Rs 3.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 221.9, stands at 26.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.3 times, while the price to sales ratio stands at 2.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 23.9 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 211.5 109.5
TTM Earnings per share Rs 3.9 7.1
Diluted earnings per share Rs 3.9 7.2
Price to Cash Flow x 37.2 23.9
TTM P/E ratio x 26.5 26.9
Price / Book Value ratio x 4.2 4.3
Market Cap Rs m 75,355 76,612
Dividends per share (Unadj.) Rs 1.7 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for AEGIS LOGISTICS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.2x during FY21, from 1.1x 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 improved and stood at 20.4x during FY21, from 7.3x 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 12.9% during FY21, from 8.8% 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 17.2% during FY21, from 15.3% 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 8.8% during FY21, from 5.8% 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 1.1 1.2
Debtors’ Days Days 231 89
Interest coverage x 7.3 20.4
Debt to equity ratio x 0.0 0.1
Return on assets % 5.8 8.8
Return on equity % 8.8 12.9
Return on capital employed % 15.3 17.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

AEGIS LOGISTICS Share Price Performance

Over the last one year, AEGIS LOGISTICS share price has moved up from Rs 208.9 to Rs 221.9, registering a gain of Rs 13.0 or around 6.2%.

Overall, the S&P BSE SENSEX is up 52.1% over the year.

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

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Related Views on News

AEGIS LOGISTICS Announces Quarterly Results (1QFY22); Net Profit Up 96.0% (Quarterly Result Update)

Jul 31, 2021 | Updated on Jul 31, 2021

For the quarter ended June 2021, AEGIS LOGISTICS has posted a net profit of Rs 722 m (up 96.0% YoY). Sales on the other hand came in at Rs 7 bn (up 6.5% YoY). Read on for a complete analysis of AEGIS LOGISTICS's quarterly results.

AEGIS LOGISTICS Announces Quarterly Results (4QFY21); Net Profit Up 50.2% (Quarterly Result Update)

Jul 8, 2021 | Updated on Jul 8, 2021

For the quarter ended March 2021, AEGIS LOGISTICS has posted a net profit of Rs 700 m (up 50.2% YoY). Sales on the other hand came in at Rs 10 bn (down 18.6% YoY). Read on for a complete analysis of AEGIS LOGISTICS's quarterly results.

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