GE T&D INDIA 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?  

GE T&D INDIA 2018-19 Annual Report Analysis
Tue, 17 Sep

GE T&D INDIA 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.

GE T&D INDIA Income Statement Analysis

  • Operating income during the year fell 2.6% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 65.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 10.1% in FY19 as against 5.9% in FY18.
  • Depreciation charges decreased by 7.4% and finance costs decreased by 24.8% YoY, respectively.
  • Other income declined by 75.7% YoY.
  • Net profit for the year grew by 1.9% YoY.
  • Net profit margins during the year grew from 4.6% in FY18 to 5.0% in FY19.

GE T&D INDIA Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 43,317 42,188 -2.6%
Other income Rs m 2,401 583 -75.7%
Total Revenues Rs m 45,718 42,771 -6.4%
Gross profit Rs m 2,569 4,259 65.8%
Depreciation Rs m 899 832 -7.4%
Interest Rs m 883 664 -24.8%
Profit before tax Rs m 3,188 3,346 4.9%
Tax Rs m 1,101 1,219 10.8%
Profit after tax Rs m 2,088 2,127 1.9%
Gross profit margin % 5.9 10.1
Effective tax rate % 34.5 36.4
Net profit margin % 4.6 5.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



GE T&D INDIA Balance Sheet Analysis

  • The company's current liabilities during FY19 down at Rs 26 billion as compared to Rs 35 billion in FY18, thereby witnessing an decrease of -24.0%.
  • Current assets fell 14% and stood at Rs 32 billion, while fixed assets fell 14% and stood at Rs 5 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 42 billion as against Rs 48 billion during FY18, thereby witnessing a fall of 12%.

GE T&D INDIA Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 11,896 14,280 20.0
 
Current Liabilities Rs m 34,514 26,241 -24.0
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 47,688 41,964 -12.0
 
Current assets Rs m 37,725 32,434 -14.0
Fixed Assets Rs m 6,038 5,177 -14.3
Total Assets Rs m 47,688 41,964 -12.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



GE T&D INDIA Cash Flow Statement Analysis

  • GE T&D INDIA's cash flow from operating activities (CFO) during FY19 stood at Rs -4 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -1 billion, an improvement of 80% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -2 billion from the Rs 2 billion net cash flows seen during FY18.

GE T&D INDIA 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 10,540 -3,549 -
Cash Flow from Investing Activities Rs m -3,045 2,869 -
Cash Flow from Financing Activities Rs m -5,848 -1,145 -
Net Cash Flow Rs m 1,634 -1,823 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for GE T&D INDIA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 8.3, an improvement from the EPS of Rs 8.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 169.8, stands at 32.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 5.7 times, while the price to sales ratio stands at 1.9 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-18* 12 Mar-19*
Sales per share (Unadj.) Rs 169.2 164.8
TTM Earnings per share Rs 8.2 8.3
Diluted earnings per share Rs 8.2 8.3
Price to Cash Flow x 14.6 14.7
TTM P/E ratio x 32.4 32.4
Price / Book Value ratio x 8.5 5.7
Market Cap Rs m 43,464 43,463
Dividends per share (Unadj.) Rs 1.8 1.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for GE T&D INDIA

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.2x during FY19, from 1.1x 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 6.0x during FY19, from 4.6x 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 14.9% during FY19, from 17.5% 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 28.1% during FY19, from 34.2% 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 6.7% during FY19, from 6.2% 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 1.1 1.2
Debtors’ Days Days 152 175
Interest coverage x 4.6 6.0
Debt to equity ratio x 0.0 0.0
Return on assets % 6.2 6.7
Return on equity % 17.5 14.9
Return on capital employed % 34.2 28.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how GE T&D INDIA has performed over the last 5 years, please visit here.

GE T&D INDIA Share Price Performance

Over the last one year, GE T&D INDIA share price has moved down from Rs 278.3 to Rs 169.8, registering a loss of Rs 108.5 or around 39.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,268.5 (down 0.2%). Over the last one year it has moved down from 18,429.3 to 17,268.5, a loss of 1,161 points (down 6.3%).

Overall, the S&P BSE SENSEX is down 1.5% over the year.

(To know more, check out historical annual results for GE T&D INDIA and quarterly results for GE T&D INDIA)

Equitymaster requests your view! Post a comment on "GE T&D INDIA 2018-19 Annual Report Analysis". Click here!

  

Related Views on News

VA TECH WABAG Share Price Up by 10%; BSE CAPITAL GOODS Index Up 2.6% (Market Updates)

May 10, 2021 | Updated on May 10, 2021

VA TECH WABAG share price is trading up by 10% and its current market price is Rs 271. The BSE CAPITAL GOODS is up by 2.6%. The top gainers in the BSE CAPITAL GOODS Index are VA TECH WABAG (up 10.4%) and GRINDWELL NORTON (up 5.9%). The top losers are CARBORUNDUM UNIVERSAL and THERMAX (down 0.4%).

Mazagon Dock Shipbuilders IPO: Should You Apply? (IPO)

Sep 29, 2020

Should you bet on this public sector defence shipbuilder?

GE T&D INDIA Announces Quarterly Results (4QFY19); Net Profit Down 6.2% (Quarterly Result Update)

May 24, 2019 | Updated on May 24, 2019

For the quarter ended March 2019, GE T&D INDIA has posted a net profit of Rs 261 m (down 6.2% YoY). Sales on the other hand came in at Rs 9 bn (up 10.0% YoY). Read on for a complete analysis of GE T&D INDIA's quarterly results.

More Views on News

Most Popular

Time to Buy Smallcaps?(Fast Profits Daily)

Apr 30, 2021

In this video, I'll show you why I favour smallcaps over the Nifty.

The Next Smallcap Winners(Profit Hunter)

Apr 30, 2021

Price is the only due diligence one might require to buy this business.

Sell in May and Go Away?(Fast Profits Daily)

Apr 28, 2021

Does the concept of selling stocks in the month of May, work in the Indian market?

Are the Stock Markets Deaf to Covid Agony?(Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

TRACK GE T&D INDIA

  • Track your investment in GE T&D INDIA with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

GE T&D INDIA 5-YR ANALYSIS

COMPARE GE T&D INDIA WITH

MARKET STATS