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ALOK INDUSTRIES 2017-18 Annual Report Analysis
Sat, 31 Mar

ALOK INDUSTRIES 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.

ALOK INDUSTRIES Income Statement Analysis

  • Operating income during the year fell 35.9% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 831.3% YoY during the fiscal. Operating profit margins witnessed a growth and stood at 248.3% in FY18 as against 17.1% in FY17.
  • Depreciation charges decreased by 2.9% and finance costs increased by 36.9% YoY, respectively.
  • Other income grew by 285.2% YoY.
  • Net profit for the year grew by 504.8% YoY.
  • Net profit margins during the year declined from 36.0% in FY17 to 339.9% in FY18.

ALOK INDUSTRIES Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 85,267 54,654 -35.9%
Other income Rs m 666 2,566 285.2%
Total Revenues Rs m 85,933 57,220 -33.4%
Gross profit Rs m -14,570 -135,695 831.3%
Depreciation Rs m 5,607 5,446 -2.9%
Interest Rs m 34,418 47,113 36.9%
Profit before tax Rs m -53,929 -185,689 244.3%
Tax Rs m -23,209 104 -100.4%
Profit after tax Rs m -30,720 -185,793 504.8%
Gross profit margin % -17.1 -248.3
Effective tax rate % 43.0 -0.1
Net profit margin % -36.0 -339.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New India's Comeback Story: The Big India Revival

ALOK INDUSTRIES Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 279 billion as compared to Rs 216 billion in FY17, thereby witnessing an increase of 28.7%.
  • Long-term debt down at Rs 74 billion as compared to Rs 93 billion during FY17, a fall of 20.5%.
  • Current assets fell 93% and stood at Rs 11 billion, while fixed assets fell 5% and stood at Rs 164 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 175 billion as against Rs 315 billion during FY17, thereby witnessing a fall of 44%.

ALOK INDUSTRIES Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 16,893 -166,757 -1,087.1
 
Current Liabilities Rs m 216,400 278,531 28.7
Long-term Debt Rs m 92,618 73,672 -20.5
Total Liabilities Rs m 314,804 174,756 -44.5
 
Current assets Rs m 141,871 10,620 -92.5
Fixed Assets Rs m 172,933 164,135 -5.1
Total Assets Rs m 314,804 174,756 -44.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



ALOK INDUSTRIES Cash Flow Statement Analysis

  • ALOK INDUSTRIES's cash flow from operating activities (CFO) during FY18 stood at Rs -979 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 2 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -1 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -358 million from the Rs 404 million net cash flows seen during FY17.

ALOK INDUSTRIES 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 -30,321 -979 -
Cash Flow from Investing Activities Rs m -997 2,110 -
Cash Flow from Financing Activities Rs m 31,721 -1,490 -
Net Cash Flow Rs m 404 -358 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for ALOK INDUSTRIES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -134.9, an decline from the EPS of Rs -22.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 3.0, stands at -0.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at -0.1 times, while the price to sales ratio stands at 0.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 0.0 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 61.9 39.7
TTM Earnings per share Rs -22.3 -134.9
Diluted earnings per share Rs -6.2 -37.4
Price to Cash Flow x -0.6 0.0
TTM P/E ratio x -0.4 -0.1
Price / Book Value ratio x 0.3 0.0
Market Cap Rs m 5,268 4,931
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for ALOK INDUSTRIES

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 0.0x during FY18, from 0.7x 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 -2.9x during FY18, from -0.6x 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 111.4% during FY18, from -181.8% 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 improved and stood at 148.9% 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 -79.4% during FY18, from 1.2% 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 0.7 0.0
Debtors’ Days Days 43 2
Interest coverage x -0.6 -2.9
Debt to equity ratio x 5.5 -0.4
Return on assets % 1.2 -79.4
Return on equity % -181.8 111.4
Return on capital employed % -17.8 148.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how ALOK INDUSTRIES has performed over the last 5 years, please visit here.

ALOK INDUSTRIES Share Price Performance

Over the last one year, ALOK INDUSTRIES share price has moved up from Rs 3.0 to Rs 3.0, registering a gain of Rs 0.0 or around 0.7%.

Overall, the S&P BSE SENSEX is up 12.1% over the year.

(To know more, check out historical annual results for ALOK INDUSTRIES and quarterly results for ALOK INDUSTRIES)

Annual Report FAQs

What is the current share price of ALOK INDUSTRIES?

ALOK INDUSTRIES currently trades at Rs 18.2 per share. You can check out the latest share price performance of ALOK INDUSTRIES here...

What was the revenue of ALOK INDUSTRIES in FY18? How does it compare to earlier years?

The revenues of ALOK INDUSTRIES stood at Rs 57,220 m in FY18, which was down -33.4% compared to Rs 85,933 m reported in FY17.

ALOK INDUSTRIES' revenue has fallen from Rs 213,436 m in FY13 to Rs 57,220 m in FY18.

Over the past 6 years, the revenue of ALOK INDUSTRIES has grown at a CAGR of -23.1%.

What was the net profit of ALOK INDUSTRIES in FY18? How does it compare to earlier years?

The net loss of ALOK INDUSTRIES stood at Rs -185,793 m in FY18, which was up 504.8% compared to Rs -30,720 m reported in FY17.

This compares to a net loss of Rs -43,428 m in FY16 and a net profit of Rs 2,543 m in FY15.

Over the past 6 years, ALOK INDUSTRIES net profit has grown at a CAGR of NaN%.

What does the cash flow statement of ALOK INDUSTRIES 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 ALOK INDUSTRIES reveals:

  • Cash flow from operations increased in FY18 and stood at Rs -979 m as compared to Rs -30,321 m in FY17.
  • Cash flow from investments increased in FY18 and stood at Rs 2,110 m as compared to Rs -997 m in FY17.
  • Cash flow from financial activity decreased in FY18 and stood at Rs -1,490 m as compared to Rs 31,721 m in FY17.

Here's the cash flow statement of ALOK INDUSTRIES for the past 6 years.

(Rs m)FY13FY15FY16FY17FY18
From Operations93838,391-30,058-30,321-979
From Investments-7,3341,5614,490-9972,110
From Financial Activity8,301-46,31024,56631,721-1,490
Net Cashflow1,904-6,358-1,002404-358

What does the Key Ratio analysis of ALOK INDUSTRIES 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 ALOK INDUSTRIES reveals:

  • Operating profit margins witnessed a growth and stood at 248.3% in FY18 as against 17.1% in FY17.
  • Net profit margins declined from 36.0% in FY17 to 339.9% in FY18.
  • Debt to Equity ratio for FY18 stood at -0.4 as compared to 5.5 in FY17.

Here's the ratio/financial analysis of ALOK INDUSTRIES for the past 6 years.

 FY13FY15FY16FY17FY18
Operating Profit Margin (%)22.021.1-21.3-17.1-248.3
Net Profit Margin (%)1.41.1-34.1-36.0-339.9
Debt to Equity Ratio (x)2.92.31.95.5-0.4

Read: Latest Annual Report Analysis of ALOK INDUSTRIES

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