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

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.

GE T&D INDIA Announces Quarterly Results (3QFY19); Net Profit Down 26.1% (Quarterly Result Update)

Feb 26, 2019 | Updated on Feb 26, 2019

For the quarter ended December 2018, GE T&D INDIA has posted a net profit of Rs 530 m (down 26.1% YoY). Sales on the other hand came in at Rs 12 bn (down 18.8% YoY). Read on for a complete analysis of GE T&D INDIA's quarterly results.

GE T&D INDIA 2017-18 Annual Report Analysis (Annual Result Update)

Dec 20, 2018 | Updated on Dec 20, 2018

Here's an analysis of the annual report of GE T&D INDIA for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of GE T&D INDIA. Also includes updates on the valuation of GE T&D INDIA.

Garden Reach Shipbuilders and Engineers Ltd: Is This PSU Shipbuilder Worth Betting On? (IPO)

Sep 24, 2018

Should you apply for the IPO of Garden Reach Shipbuilders and Engineers Ltd?

More Views on News

Most Popular

What the RBI's Rate Cut Means for Options Traders(Fast Profits Daily)

May 25, 2020

The RBI governor has cut the repo rate to 4%. What does this mean for options traders? Find out in this video.

This 'Essential Product' Smallcap is a Must Have for a 'Covid-19' Immune Portfolio(Profit Hunter)

May 19, 2020

This smallcap company needs no stimulus measures to do well in the long term.

How Commodity Prices Tell You When Stocks Will Go Up(Fast Profits Daily)

May 20, 2020

Commodity prices often provide clues to big moves in stock markets. In today's video, I'll explain this link.

Which Stocks Should You Buy, Sell, and Hold in the Market Today?(Profit Hunter)

May 21, 2020

The coronavirus led uncertainty refuses to go away from the markets. Here's what retail investors should do with their stocks...

More

Get Rich as the
Market Rebounds from Covid-19

Coronavirus Rebound
Get this special guide, authored by Equitymaster's top analysts, 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 8-QTR ANALYSIS

COMPARE GE T&D INDIA WITH

MARKET STATS