ARSS INFRASTRUCTURE 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?  

ARSS INFRASTRUCTURE 2018-19 Annual Report Analysis
Tue, 24 Sep

ARSS INFRASTRUCTURE 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.

ARSS INFRASTRUCTURE Income Statement Analysis

  • Operating income during the year fell 21.4% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 114.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 1.3% in FY19 as against 6.9% in FY18.
  • Depreciation charges decreased by 8.0% and finance costs decreased by 26.1% YoY, respectively.
  • Other income grew by 37.3% YoY.
  • Net profit for the year declined by 79.8% YoY.
  • Net profit margins during the year grew from 9.7% in FY18 to 2.4% in FY19.

ARSS INFRASTRUCTURE Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 5,843 4,591 -21.4%
Other income Rs m 191 262 37.3%
Total Revenues Rs m 6,034 4,853 -19.6%
Gross profit Rs m -403 60 -114.8%
Depreciation Rs m 239 220 -8.0%
Interest Rs m 373 275 -26.1%
Profit before tax Rs m -824 -174 -78.9%
Tax Rs m -240 -56 -76.6%
Profit after tax Rs m -584 -118 -79.8%
Gross profit margin % -6.9 1.3
Effective tax rate % 29.1 32.2
Net profit margin % -9.7 -2.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ARSS INFRASTRUCTURE Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 19 billion as compared to Rs 12 billion in FY18, thereby witnessing an increase of 58.1%.
  • Long-term debt down at Rs 48 million as compared to Rs 7 billion during FY18, a fall of 99.3%.
  • Current assets rose 10% and stood at Rs 4 billion, while fixed assets fell 14% and stood at Rs 2 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 19 billion as against Rs 19 billion during FY18, thereby witnessing a growth of 1%.

ARSS INFRASTRUCTURE Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 322 204 -36.5
 
Current Liabilities Rs m 11,791 18,642 58.1
Long-term Debt Rs m 6,631 48 -99.3
Total Liabilities Rs m 18,761 18,903 0.8
 
Current assets Rs m 3,286 3,610 9.9
Fixed Assets Rs m 1,937 1,674 -13.6
Total Assets Rs m 18,761 18,903 0.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ARSS INFRASTRUCTURE Cash Flow Statement Analysis

  • ARSS INFRASTRUCTURE's cash flow from operating activities (CFO) during FY19 stood at Rs 7 billion, an improvement of 721.6% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 102 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -7 billion on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 131 million from the Rs 481 million net cash flows seen during FY18.

ARSS INFRASTRUCTURE 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 838 6,887 721.6%
Cash Flow from Investing Activities Rs m 110 102 -7.1%
Cash Flow from Financing Activities Rs m -467 -6,858 -
Net Cash Flow Rs m 481 131 -72.8%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for ARSS INFRASTRUCTURE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -5.2, an improvement from the EPS of Rs -25.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 26.3, stands at -39.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.2 times, while the price to sales ratio stands at 0.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 3.8 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 257.0 201.9
TTM Earnings per share Rs -25.7 -5.2
Diluted earnings per share Rs -39.4 -8.0
Price to Cash Flow x -1.7 3.8
TTM P/E ratio x -60.3 -39.3
Price / Book Value ratio x 4.4 4.2
Market Cap Rs m 597 390
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for ARSS INFRASTRUCTURE

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 0.2x during FY19, from 0.3x 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 0.4x during FY19, from -1.2x 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 -57.8% during FY19, from -181.4% 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 40.0% during FY19, from -6.5% 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 0.8% during FY19, from -1.1% 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 0.3 0.2
Debtors’ Days Days 32 59
Interest coverage x -1.2 0.4
Debt to equity ratio x 20.6 0.2
Return on assets % -1.1 0.8
Return on equity % -181.4 -57.8
Return on capital employed % -6.5 40.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

ARSS INFRASTRUCTURE Share Price Performance

Over the last one year, ARSS INFRASTRUCTURE share price has moved down from Rs 26.6 to Rs 26.3, registering a loss of Rs 0.4 or around 1.3%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,089.3 (down 0.2%). Over the last one year it has moved up from 1,841.3 to 2,089.3, a gain of 248 points (up 13.5%).

Overall, the S&P BSE SENSEX is up 8.0% over the year.

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

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

  

Related Views on News

ARSS INFRASTRUCTURE Announces Quarterly Results (1QFY20); Net Profit Up 95.2% (Quarterly Result Update)

Aug 16, 2019 | Updated on Aug 16, 2019

For the quarter ended June 2019, ARSS INFRASTRUCTURE has posted a net profit of Rs 5 m (up 95.2% YoY). Sales on the other hand came in at Rs 1 bn (down 25.3% YoY). Read on for a complete analysis of ARSS INFRASTRUCTURE's quarterly results.

ARSS INFRASTRUCTURE Announces Quarterly Results (4QFY19); Net Profit Up 99.5% (Quarterly Result Update)

Jun 5, 2019 | Updated on Jun 5, 2019

For the quarter ended March 2019, ARSS INFRASTRUCTURE has posted a net profit of Rs 1 m (up 99.5% YoY). Sales on the other hand came in at Rs 2 bn (up 27.2% YoY). Read on for a complete analysis of ARSS INFRASTRUCTURE's quarterly results.

ARSS INFRASTRUCTURE 2017-18 Annual Report Analysis (Annual Result Update)

Dec 18, 2018 | Updated on Dec 18, 2018

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

IRCON International IPO: Is This PSU Worth Betting On? (IPO)

Sep 17, 2018

Should you subscribe to the IPO of IRCON International Ltd?

More Views on News

Most Popular

Crash Alert! Is There a Big Bubble in Nestle, HUL and Asian Paints?(Profit Hunter)

Nov 7, 2019

Is this the beginning of the end of multibagger gains in quality stocks like Nestle, HUL, and Asian Paints?

These 10 Days Are Crucial for Getting Rich in the Smallcap Rebound(Profit Hunter)

Nov 5, 2019

How to avoid the most common investing mistake and make the most of the smallcap rebound.

Why Moody's Rating Downgrade is a Strong Sign to Buy Stocks(The 5 Minute Wrapup)

Nov 8, 2019

Investors who took cues from Moody's rating downgrade in 1992 and 2002 created some of the biggest wealth of their lifetime.

The Top Stocks for 2020 Pass This Most Critical Metric(The 5 Minute Wrapup)

Nov 5, 2019

Charlie Munger's favorite fictional character, Mr Glotz, picks stocks using this metric.

What to Buy at Sensex 40,000(The 5 Minute Wrapup)

Nov 4, 2019

Should you invest in high-quality, safe stocks or make some contrarian bets in the smallcap space?

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 ARSS INFRASTRUCTURE

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

MORE ON ARSS INFRASTRUCTURE

ARSS INFRASTRUCTURE 8-QTR ANALYSIS

COMPARE ARSS INFRASTRUCTURE WITH

MARKET STATS