HUBTOWN LTD 2017-18 Annual Report Analysis

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HUBTOWN LTD 2017-18 Annual Report Analysis
Tue, 18 Dec

HUBTOWN LTD 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.

HUBTOWN LTD Income Statement Analysis

  • Operating income during the year rose 3.6% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 79.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 12.8% in FY18 as against 65.7% in FY17.
  • Depreciation charges decreased by 2.5% and finance costs decreased by 10.2% YoY, respectively.
  • Other income grew by 784.4% YoY.
  • Net profit for the year declined by 28.2% YoY.
  • Net profit margins during the year grew from 5.5% in FY17 to 2.7% in FY18.

HUBTOWN LTD Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 5,425 5,622 3.6%
Other income Rs m 329 2,910 784.4%
Total Revenues Rs m 5,754 8,532 48.3%
Gross profit Rs m 3,567 717 -79.9%
Depreciation Rs m 33 32 -2.5%
Interest Rs m 4,237 3,805 -10.2%
Profit before tax Rs m -373 -210 -43.8%
Tax Rs m -58 17 -129.7%
Profit after tax Rs m -316 -227 -28.2%
Gross profit margin % 65.7 12.8
Effective tax rate % 15.4 -8.2
Net profit margin % -5.5 -2.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HUBTOWN LTD Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 28 billion as compared to Rs 27 billion in FY17, thereby witnessing an increase of 2.3%.
  • Long-term debt down at Rs 4 billion as compared to Rs 5 billion during FY17, a fall of 22.2%.
  • Current assets rose 5% and stood at Rs 30 billion, while fixed assets fell 2% and stood at Rs 1 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 49 billion as against Rs 49 billion during FY17, thereby witnessing a fall of 0%.

HUBTOWN LTD Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 16,507 16,205 -1.8
 
Current Liabilities Rs m 27,172 27,809 2.3
Long-term Debt Rs m 5,223 4,061 -22.2
Total Liabilities Rs m 49,314 49,164 -0.3
 
Current assets Rs m 28,275 29,675 5.0
Fixed Assets Rs m 1,041 1,021 -2.0
Total Assets Rs m 49,314 49,164 -0.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HUBTOWN LTD Cash Flow Statement Analysis

  • HUBTOWN LTD's cash flow from operating activities (CFO) during FY18 stood at Rs 5 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 71 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -5 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 110 million from the Rs -77 million net cash flows seen during FY17.

HUBTOWN LTD 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 -26 4,776 -
Cash Flow from Investing Activities Rs m 1,542 71 -95.4%
Cash Flow from Financing Activities Rs m -1,593 -4,736 -
Net Cash Flow Rs m -77 110 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for HUBTOWN LTD

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -3.1, an improvement from the EPS of Rs -4.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 41.8, stands at -18.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.5 times, while the price to sales ratio stands at 1.5 times.
  • The company's price to cash flow (P/CF) ratio stood at -15.6 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 74.6 77.3
TTM Earnings per share Rs -4.3 -3.1
Diluted earnings per share Rs -4.3 -3.1
Price to Cash Flow x -10.7 -15.6
TTM P/E ratio x -18.4 -18.4
Price / Book Value ratio x 0.5 0.5
Market Cap Rs m 3,041 3,040
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 HUBTOWN LTD

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.1x during FY18, from 1.0x 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 0.9x during FY18, from 0.9x 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 -1.4% during FY18, from -1.9% 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 declined and down at 17.7% during FY18, from 17.8% 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 declined and down at 7.3% during FY18, from 8.0% 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 1.0 1.1
Debtors’ Days Days 203 306
Interest coverage x 0.9 0.9
Debt to equity ratio x 0.3 0.3
Return on assets % 8.0 7.3
Return on equity % -1.9 -1.4
Return on capital employed % 17.8 17.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how HUBTOWN LTD has performed over the last 5 years, please visit here.

HUBTOWN LTD Share Price Performance

Over the last one year, HUBTOWN LTD share price has moved up from Rs 127.9 to Rs 41.8, registering a loss of Rs 86.1 or around 67.3%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,833.2 (up 0.1%). Over the last one year it has moved down from 2,378.1 to 1,833.2, a loss of 545 points (down 22.9%).

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

(To know more, check out historical annual results for HUBTOWN LTD and quarterly results for HUBTOWN LTD)

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