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AMARA RAJA BATTERIES 2017-18 Annual Report Analysis
Sat, 31 Mar

AMARA RAJA BATTERIES 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.

AMARA RAJA BATTERIES Income Statement Analysis

  • Operating income during the year rose 26.5% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 4.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 15.0% in FY18 as against 18.3% in FY17.
  • Depreciation charges increased by 20.5% and finance costs decreased by 12.3% YoY, respectively.
  • Other income grew by 33.1% YoY.
  • Net profit for the year declined by 1.5% YoY.
  • Net profit margins during the year declined from 10.3% in FY17 to 8.0% in FY18.

AMARA RAJA BATTERIES Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 46,529 58,853 26.5%
Other income Rs m 499 664 33.1%
Total Revenues Rs m 47,028 59,517 26.6%
Gross profit Rs m 8,493 8,832 4.0%
Depreciation Rs m 1,912 2,303 20.5%
Interest Rs m 58 51 -12.3%
Profit before tax Rs m 7,022 7,142 1.7%
Tax Rs m 2,237 2,429 8.6%
Profit after tax Rs m 4,785 4,713 -1.5%
Gross profit margin % 18.3 15.0
Effective tax rate % 31.9 34.0
Net profit margin % 10.3 8.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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AMARA RAJA BATTERIES Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 10 billion as compared to Rs 8 billion in FY17, thereby witnessing an increase of 30.7%.
  • Long-term debt down at Rs 584 million as compared to Rs 690 million during FY17, a fall of 15.3%.
  • Current assets rose 22% and stood at Rs 22 billion, while fixed assets rose 10% and stood at Rs 20 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 42 billion as against Rs 36 billion during FY17, thereby witnessing a growth of 16%.

AMARA RAJA BATTERIES Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 25,931 29,374 13.3
 
Current Liabilities Rs m 7,596 9,930 30.7
Long-term Debt Rs m 690 584 -15.3
Total Liabilities Rs m 35,846 41,686 16.3
 
Current assets Rs m 17,586 21,523 22.4
Fixed Assets Rs m 18,260 20,163 10.4
Total Assets Rs m 35,846 41,686 16.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



AMARA RAJA BATTERIES Cash Flow Statement Analysis

  • AMARA RAJA BATTERIES's cash flow from operating activities (CFO) during FY18 stood at Rs 3 billion 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 -520 million from the Rs 223 million net cash flows seen during FY17.

AMARA RAJA BATTERIES 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 5,529 3,217 -41.8%
Cash Flow from Investing Activities Rs m -5,349 -2,443 -
Cash Flow from Financing Activities Rs m -20 -1,382 -
Net Cash Flow Rs m 223 -520 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for AMARA RAJA BATTERIES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 27.6, an decline from the EPS of Rs 28.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 797.5, stands at 28.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.7 times, while the price to sales ratio stands at 2.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 19.7 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 272.4 344.6
TTM Earnings per share Rs 28.0 27.6
Diluted earnings per share Rs 28.0 27.6
Price to Cash Flow x 22.7 19.7
TTM P/E ratio x 31.7 28.9
Price / Book Value ratio x 6.2 4.7
Market Cap Rs m 161,221 138,230
Dividends per share (Unadj.) Rs 4.3 4.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for AMARA RAJA BATTERIES

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 2.2x during FY18, from 2.3x 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 improved and stood at 142.1x during FY18, from 122.7x 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 declined and down at 16.0% during FY18, from 18.5% 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 declined and down at 24.0% during FY18, from 26.6% 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 11.4% during FY18, from 13.5% 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 2.3 2.2
Debtors’ Days Days 4 5
Interest coverage x 122.7 142.1
Debt to equity ratio x 0.0 0.0
Return on assets % 13.5 11.4
Return on equity % 18.5 16.0
Return on capital employed % 26.6 24.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how AMARA RAJA BATTERIES has performed over the last 5 years, please visit here.

AMARA RAJA BATTERIES Share Price Performance

Over the last one year, AMARA RAJA BATTERIES share price has moved down from Rs 889.0 to Rs 797.5, registering a loss of Rs 91.5 or around 10.3%.

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

(To know more, check out historical annual results for AMARA RAJA BATTERIES and quarterly results for AMARA RAJA BATTERIES)

Annual Report FAQs

What is the current share price of AMARA RAJA BATTERIES?

AMARA RAJA BATTERIES currently trades at Rs 783.9 per share. You can check out the latest share price performance of AMARA RAJA BATTERIES here...

What was the revenue of AMARA RAJA BATTERIES in FY18? How does it compare to earlier years?

The revenues of AMARA RAJA BATTERIES stood at Rs 59,517 m in FY18, which was up 26.6% compared to Rs 47,028 m reported in FY17.

AMARA RAJA BATTERIES' revenue has grown from Rs 30,847 m in FY14 to Rs 59,517 m in FY18.

Over the past 5 years, the revenue of AMARA RAJA BATTERIES has grown at a CAGR of 17.9%.

What was the net profit of AMARA RAJA BATTERIES in FY18? How does it compare to earlier years?

The net profit of AMARA RAJA BATTERIES stood at Rs 4,713 m in FY18, which was down -1.5% compared to Rs 4,785 m reported in FY17.

This compares to a net profit of Rs 4,916 m in FY16 and a net profit of Rs 4,109 m in FY15.

Over the past 5 years, AMARA RAJA BATTERIES net profit has grown at a CAGR of 6.4%.

What does the cash flow statement of AMARA RAJA BATTERIES 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 AMARA RAJA BATTERIES reveals:

  • Cash flow from operations decreased in FY18 and stood at Rs 3,217 m as compared to Rs 5,529 m in FY17.
  • Cash flow from investments increased in FY18 and stood at Rs -2,443 m as compared to Rs -5,349 m in FY17.
  • Cash flow from financial activity decreased in FY18 and stood at Rs -1,382 m as compared to Rs -20 m in FY17.

Here's the cash flow statement of AMARA RAJA BATTERIES for the past 5 years.

(Rs m)FY14FY15FY16FY17FY18
From Operations2,7883,9505,5475,5293,217
From Investments-3,448-2,891-3,938-5,349-2,443
From Financial Activity-531-745-1,637-20-1,382
Net Cashflow-1,16626338223-520

What does the Key Ratio analysis of AMARA RAJA BATTERIES 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 AMARA RAJA BATTERIES reveals:

  • Operating profit margins witnessed a fall and stood at 15.0% in FY18 as against 18.3% in FY17.
  • Net profit margins declined from 10.3% in FY17 to 8.0% in FY18.
  • Debt to Equity ratio for FY18 stood at 0.0 as compared to 0.0 in FY17.

Here's the ratio/financial analysis of AMARA RAJA BATTERIES for the past 5 years.

 FY14FY15FY16FY17FY18
Operating Profit Margin (%)18.218.520.318.315.0
Net Profit Margin (%)12.110.912.110.38.0
Debt to Equity Ratio (x)0.10.00.00.00.0

Read: Latest Annual Report Analysis of AMARA RAJA ENERGY & MOBILITY

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