ALOK INDUSTRIES 2017-18 Annual Report Analysis

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ALOK INDUSTRIES 2017-18 Annual Report Analysis
Thu, 24 Jan

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 36.8% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 831.9% YoY during the fiscal. Operating profit margins witnessed a growth and stood at 246.1% in FY18 as against 16.7% in FY17.
  • Depreciation charges decreased by 2.9% and finance costs increased by 36.9% YoY, respectively.
  • Other income grew by 291.3% YoY.
  • Net profit for the year grew by 502.6% YoY.
  • Net profit margins during the year declined from 35.1% in FY17 to 322.0% in FY18.

ALOK INDUSTRIES Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 87,231 55,138 -36.8%
Other income Rs m 656 2,566 291.3%
Total Revenues Rs m 87,886 57,704 -34.3%
Gross profit Rs m -14,559 -135,678 831.9%
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 -185,672 244.3%
Tax Rs m -23,208 104 -100.4%
Profit after tax Rs m -30,831 -185,781 502.6%
Gross profit margin % -16.7 -246.1
Effective tax rate % 43.0 -0.1
Net profit margin % -35.1 -322.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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 4% and stood at Rs 152 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 187 billion as against Rs 327 billion during FY17, thereby witnessing a fall of 43%.

ALOK INDUSTRIES Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 16,894 -166,772 -1,087.2
 
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 327,060 187,004 -42.8
 
Current assets Rs m 141,871 10,606 -92.5
Fixed Assets Rs m 158,662 152,263 -4.0
Total Assets Rs m 327,060 187,004 -42.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, 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: Company Reports, Regulatory Filings, 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 -22.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 3.7, stands at -0.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.0 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 63.3 40.0
TTM Earnings per share Rs -22.4 -134.9
Diluted earnings per share Rs -22.2 -133.9
Price to Cash Flow x -0.2 0.0
TTM P/E ratio x -0.1 -0.1
Price / Book Value ratio x 0.3 0.0
Market Cap Rs m 5,137 5,176
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 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 -182.5% 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 148.8% during FY18, from -17.9% 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 -74.2% during FY18, from 1.1% 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 421 21
Interest coverage x -0.6 -2.9
Debt to equity ratio x 5.5 -0.4
Return on assets % 1.1 -74.2
Return on equity % -182.5 111.4
Return on capital employed % -17.9 148.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, 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 3.6 to Rs 3.7, registering a gain of Rs 0.1 or around 2.8%.

Overall, the S&P BSE SENSEX is up 0.1% over the year.

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

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ALOK INDUSTRIES Announces Quarterly Results (4QFY19); Net Profit Up 561.0% (Quarterly Result Update)

Jun 17, 2019 | Updated on Jun 17, 2019

For the quarter ended March 2019, ALOK INDUSTRIES has posted a net profit of Rs 61 bn (up 561.0% YoY). Sales on the other hand came in at Rs 8 bn (down 8.5% YoY). Read on for a complete analysis of ALOK INDUSTRIES's quarterly results.

ALOK INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Up 73.5% (Quarterly Result Update)

Feb 25, 2019 | Updated on Feb 25, 2019

For the quarter ended December 2018, ALOK INDUSTRIES has posted a net profit of Rs 13 bn (up 73.5% YoY). Sales on the other hand came in at Rs 7 bn (down 29.1% YoY). Read on for a complete analysis of ALOK INDUSTRIES's quarterly results.

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