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AHLUWALIA CONTRACTS- 2017-18 Annual Report Analysis

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AHLUWALIA CONTRACTS- 2017-18 Annual Report Analysis
Tue, 18 Dec

AHLUWALIA CONTRACTS- 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.

AHLUWALIA CONTRACTS- Income Statement Analysis

  • Operating income during the year rose 15.4% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 26.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.3% in FY18 as against 12.2% in FY17.
  • Depreciation charges increased by 7.2% and finance costs decreased by 7.4% YoY, respectively.
  • Other income declined by 24.5% YoY.
  • Net profit for the year grew by 33.8% YoY.
  • Net profit margins during the year grew from 6.0% in FY17 to 7.0% in FY18.

AHLUWALIA CONTRACTS- Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 14,266 16,466 15.4%
Other income Rs m 84 63 -24.5%
Total Revenues Rs m 14,349 16,529 15.2%
Gross profit Rs m 1,736 2,192 26.3%
Depreciation Rs m 239 256 7.2%
Interest Rs m 271 251 -7.4%
Profit before tax Rs m 1,310 1,748 33.5%
Tax Rs m 448 594 32.8%
Profit after tax Rs m 862 1,154 33.8%
Gross profit margin % 12.2 13.3
Effective tax rate % 34.2 34.0
Net profit margin % 6.0 7.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



AHLUWALIA CONTRACTS- Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 6 billion as compared to Rs 7 billion in FY17, thereby witnessing an decrease of -10.4%.
  • Long-term debt stood at Rs 7 million as compared to Rs 0 million during FY17, a fall of 0.0%.
  • Current assets rose 7% and stood at Rs 9 billion, while fixed assets fell 4% and stood at Rs 2 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 12 billion as against Rs 12 billion during FY17, thereby witnessing a growth of 1%.

AHLUWALIA CONTRACTS- Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 5,048 6,213 23.1
 
Current Liabilities Rs m 6,611 5,921 -10.4
Long-term Debt Rs m 0 7 0.0
Total Liabilities Rs m 12,323 12,445 1.0
 
Current assets Rs m 8,457 9,025 6.7
Fixed Assets Rs m 1,980 1,900 -4.1
Total Assets Rs m 12,323 12,445 1.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



AHLUWALIA CONTRACTS- Cash Flow Statement Analysis

  • AHLUWALIA CONTRACTS-'s cash flow from operating activities (CFO) during FY18 stood at Rs 810 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -198 million, an improvement of 128.2% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -696 million, an improvement of 1% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -85 million from the Rs 477 million net cash flows seen during FY17.

AHLUWALIA CONTRACTS- 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 1,265 810 -36.0%
Cash Flow from Investing Activities Rs m -87 -198 -
Cash Flow from Financing Activities Rs m -701 -696 -
Net Cash Flow Rs m 477 -85 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for AHLUWALIA CONTRACTS-

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 17.2, an improvement from the EPS of Rs 12.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 310.5, stands at 17.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.6 times, while the price to sales ratio stands at 1.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 14.7 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 213.0 245.8
TTM Earnings per share Rs 12.9 17.2
Diluted earnings per share Rs 12.9 17.2
Price to Cash Flow x 18.9 14.7
TTM P/E ratio x 17.4 17.4
Price / Book Value ratio x 3.8 3.6
Market Cap Rs m 20,800 20,800
Dividends per share (Unadj.) Rs 0.0 0.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for AHLUWALIA CONTRACTS-

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.5x during FY18, from 1.3x 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 8.0x during FY18, from 5.8x 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.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company improved and stood at 18.6% during FY18, from 17.1% 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 improved and stood at 32.1% during FY18, from 31.3% 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 improved and stood at 11.3% during FY18, from 9.2% 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 1.3 1.5
Debtors’ Days Days 116 125
Interest coverage x 5.8 8.0
Debt to equity ratio x 0.0 0.0
Return on assets % 9.2 11.3
Return on equity % 17.1 18.6
Return on capital employed % 31.3 32.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how AHLUWALIA CONTRACTS- has performed over the last 5 years, please visit here.

AHLUWALIA CONTRACTS- Share Price Performance

Over the last one year, AHLUWALIA CONTRACTS- share price has moved up from Rs 373.8 to Rs 310.5, registering a loss of Rs 63.3 or around 16.9%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,835.2 (up 0.2%). Over the last one year it has moved down from 2,378.1 to 1,835.2, a loss of 543 points (down 22.8%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

(To know more, check out historical annual results for AHLUWALIA CONTRACTS- and quarterly results for AHLUWALIA CONTRACTS-)

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AHLUWALIA CONTRACTS Announces Quarterly Results (3QFY19); Net Profit Down 7.6% (Quarterly Result Update)

Feb 20, 2019 | Updated on Feb 20, 2019

For the quarter ended December 2018, AHLUWALIA CONTRACTS has posted a net profit of Rs 269 m (down 7.6% YoY). Sales on the other hand came in at Rs 4 bn (up 15.9% YoY). Read on for a complete analysis of AHLUWALIA CONTRACTS's quarterly results.

AHLUWALIA CONTRACTS Announces Quarterly Results (2QFY19); Net Profit Up 20.9% (Quarterly Result Update)

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