AMARA RAJA BATT. 2017-18 Annual Report Analysis

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AMARA RAJA BATT. 2017-18 Annual Report Analysis
Thu, 16 Aug

AMARA RAJA BATT. 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 BATT. Income Statement Analysis

  • Operating income during the year rose 14.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 3.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 14.6% in FY18 as against 16.0% in FY17.
  • Depreciation charges and finance costs increased by 20.5% YoY and 12.3% YoY, respectively.
  • Other income grew by 34.8% YoY.
  • Net profit for the year declined by 1.5% YoY.
  • Net profit margins during the year declined from 8.9% in FY17 to 7.7% in FY18.

AMARA RAJA BATT. Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 53,172 60,592 14.0%
Other income Rs m 492 664 34.8%
Total Revenues Rs m 53,664 61,255 14.1%
Gross profit Rs m 8,499 8,832 3.9%
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 % 16.0 14.6
Effective tax rate % 31.9 34.0
Net profit margin % 8.9 7.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



AMARA RAJA BATT. 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 12% and stood at Rs 19 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 BATT. 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 17,273 19,296 11.7
Total Assets Rs m 35,846 41,686 16.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



AMARA RAJA BATT. Cash Flow Statement Analysis

  • AMARA RAJA BATT.'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 BATT. 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: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for AMARA RAJA BATT.

  • 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 854.0, stands at 30.1 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 20.8 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 311.3 354.7
TTM Earnings per share Rs 28.0 27.6
Diluted earnings per share Rs 28.0 27.6
Price to Cash Flow x 21.8 20.8
TTM P/E ratio x 30.1 30.1
Price / Book Value ratio x 6.2 4.7
Market Cap Rs m 145,872 145,880
Dividends per share (Unadj.) Rs 4.3 4.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for AMARA RAJA BATT.

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved 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 deteriorated 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 39 47
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: Company Reports, Regulatory Filings, Equitymaster



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

AMARA RAJA BATT. Share Price Performance

Over the last one year, AMARA RAJA BATT. share price has moved up from Rs 813.4 to Rs 854.0, registering a gain of Rs 40.7 or around 5.0%.

Overall, the S&P BSE SENSEX is up 19.8% over the year.

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

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