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AHLUWALIA CONTRACTS 2018-19 Annual Report Analysis
Sun, 31 Mar

AHLUWALIA CONTRACTS 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.

AHLUWALIA CONTRACTS Income Statement Analysis

  • Operating income during the year rose 6.6% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 1.3% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 12.3% in FY19 as against 13.3% in FY18.
  • Depreciation charges increased by 7.5% and finance costs decreased by 23.3% YoY, respectively.
  • Other income grew by 54.9% YoY.
  • Net profit for the year grew by 1.6% YoY.
  • Net profit margins during the year declined from 7.0% in FY18 to 6.7% in FY19.

AHLUWALIA CONTRACTS Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 16,466 17,547 6.6%
Other income Rs m 63 98 54.9%
Total Revenues Rs m 16,529 17,645 6.8%
Gross profit Rs m 2,192 2,164 -1.3%
Depreciation Rs m 256 276 7.5%
Interest Rs m 251 192 -23.3%
Profit before tax Rs m 1,748 1,794 2.6%
Tax Rs m 594 621 4.5%
Profit after tax Rs m 1,154 1,173 1.6%
Gross profit margin % 13.3 12.3
Effective tax rate % 34.0 34.6
Net profit margin % 7.0 6.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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AHLUWALIA CONTRACTS Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 7 billion as compared to Rs 6 billion in FY18, thereby witnessing an increase of 13.4%.
  • Long-term debt down at Rs 6 million as compared to Rs 7 million during FY18, a fall of 13.8%.
  • Current assets rose 24% and stood at Rs 11 billion, while fixed assets rose 2% and stood at Rs 3 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 15 billion as against Rs 12 billion during FY18, thereby witnessing a growth of 18%.

AHLUWALIA CONTRACTS Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 6,213 7,372 18.7
 
Current Liabilities Rs m 5,997 6,802 13.4
Long-term Debt Rs m 7 6 -13.8
Total Liabilities Rs m 12,304 14,571 18.4
 
Current assets Rs m 9,100 11,316 24.3
Fixed Assets Rs m 3,203 3,256 1.6
Total Assets Rs m 12,304 14,571 18.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



AHLUWALIA CONTRACTS Cash Flow Statement Analysis

  • AHLUWALIA CONTRACTS's cash flow from operating activities (CFO) during FY19 stood at Rs 857 million, an improvement of 5.9% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -426 million, an improvement of 114.8% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs 191 million, an improvement of 127% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 622 million from the Rs -85 million net cash flows seen during FY18.

AHLUWALIA CONTRACTS 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 810 857 5.9%
Cash Flow from Investing Activities Rs m -198 -426 -
Cash Flow from Financing Activities Rs m -696 191 -
Net Cash Flow Rs m -85 622 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for AHLUWALIA CONTRACTS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 17.5, an improvement from the EPS of Rs 17.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 325.0, stands at 18.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.0 times, while the price to sales ratio stands at 1.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 15.9 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 245.8 261.9
TTM Earnings per share Rs 17.2 17.5
Diluted earnings per share Rs 17.2 17.5
Price to Cash Flow x 18.0 15.9
TTM P/E ratio x 22.0 18.6
Price / Book Value ratio x 3.6 3.1
Market Cap Rs m 22,163 23,064
Dividends per share (Unadj.) Rs 0.3 0.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for AHLUWALIA CONTRACTS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.7x during FY19, from 1.5x 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 10.3x during FY19, from 8.0x 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 declined and down at 15.9% during FY19, from 18.6% 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 declined and down at 26.9% during FY19, from 32.1% 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 declined and down at 9.4% during FY19, from 11.4% 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 1.5 1.7
Debtors’ Days Days 1,254 1,077
Interest coverage x 8.0 10.3
Debt to equity ratio x 0.0 0.0
Return on assets % 11.4 9.4
Return on equity % 18.6 15.9
Return on capital employed % 32.1 26.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, 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 down from Rs 380.0 to Rs 325.0, registering a loss of Rs 55.0 or around 14.5%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,077.1 (up 0.6%). Over the last one year it has moved down from 2,229.9 to 2,077.1, a loss of 153 points (down 6.9%).

Overall, the S&P BSE SENSEX is up 16.3% over the year.

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

Annual Report FAQs

What is the current share price of AHLUWALIA CONTRACTS?

AHLUWALIA CONTRACTS currently trades at Rs 1,024.0 per share. You can check out the latest share price performance of AHLUWALIA CONTRACTS here...

What was the revenue of AHLUWALIA CONTRACTS in FY19? How does it compare to earlier years?

The revenues of AHLUWALIA CONTRACTS stood at Rs 17,645 m in FY19, which was up 6.8% compared to Rs 16,529 m reported in FY18.

AHLUWALIA CONTRACTS' revenue has grown from Rs 12,632 m in FY16 to Rs 17,645 m in FY19.

Over the past 4 years, the revenue of AHLUWALIA CONTRACTS has grown at a CAGR of 11.8%.

What was the net profit of AHLUWALIA CONTRACTS in FY19? How does it compare to earlier years?

The net profit of AHLUWALIA CONTRACTS stood at Rs 1,173 m in FY19, which was up 1.6% compared to Rs 1,154 m reported in FY18.

This compares to a net profit of Rs 862 m in FY17 and a net profit of Rs 844 m in FY16.

Over the past 4 years, AHLUWALIA CONTRACTS net profit has grown at a CAGR of 11.6%.

What does the cash flow statement of AHLUWALIA CONTRACTS reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of AHLUWALIA CONTRACTS reveals:

  • Cash flow from operations increased in FY19 and stood at Rs 857 m as compared to Rs 810 m in FY18.
  • Cash flow from investments decreased in FY19 and stood at Rs -426 m as compared to Rs -198 m in FY18.
  • Cash flow from financial activity increased in FY19 and stood at Rs 191 m as compared to Rs -696 m in FY18.

Here's the cash flow statement of AHLUWALIA CONTRACTS for the past 4 years.

(Rs m)FY16FY17FY18FY19
From Operations7681,265810857
From Investments-253-87-198-426
From Financial Activity-575-701-696191
Net Cashflow-59477-85622

What does the Key Ratio analysis of AHLUWALIA CONTRACTS reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of AHLUWALIA CONTRACTS reveals:

  • Operating profit margins witnessed a fall and stood at 12.3% in FY19 as against 13.3% in FY18.
  • Net profit margins declined from 7.0% in FY18 to 6.7% in FY19.
  • Debt to Equity ratio for FY19 stood at 0.0 as compared to 0.0 in FY18.

Here's the ratio/financial analysis of AHLUWALIA CONTRACTS for the past 4 years.

 FY16FY17FY18FY19
Operating Profit Margin (%)12.912.213.312.3
Net Profit Margin (%)6.86.07.06.7
Debt to Equity Ratio (x)0.00.00.00.0

Read: Latest Annual Report Analysis of AHLUWALIA CONTRACTS

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