ANDREW YULE 2020-21 Annual Report Analysis

Wed, 31 Mar

ANDREW YULE has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

ANDREW YULE Income Statement Analysis

• Operating income during the year rose 10.5% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 95.9% YoY during the fiscal. Operating profit margins witnessed a growth and down at 0.5% in FY21 as against 12.9% in FY20.
• Depreciation charges increased by 2.3% and finance costs decreased by 1.5% YoY, respectively.
• Other income declined by 0.9% YoY.
• Net profit for the year declined by 194.3% YoY.
• Net profit margins during the year grew from 7.2% in FY20 to 6.2% in FY21.

ANDREW YULE Income Statement 2020-21

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*	% Change
Net Sales	Rs m	2,991	3,305	10.5%
Other income	Rs m	308	306	-0.9%
Total Revenues	Rs m	3,300	3,611	9.4%
Gross profit	Rs m	-386	-16	-95.9%
Depreciation	Rs m	65	67	2.3%
Interest	Rs m	85	83	-1.5%
Profit before tax	Rs m	-227	140	-161.4%
Tax	Rs m	-11	-65	513.8%
Profit after tax	Rs m	-217	205	-194.3%
Gross profit margin	%	-12.9	-0.5
Effective tax rate	%	4.7	-46.5
Net profit margin	%	-7.2	6.2

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ANDREW YULE Balance Sheet Analysis

• The company's current liabilities during FY21 down at Rs 2 billion as compared to Rs 2 billion in FY20, thereby witnessing an decrease of -0.9%.
• Long-term debt stood at Rs 5 million as compared to Rs 0 million during FY20, a fall of 0.0%.
• Current assets rose 11% and stood at Rs 2 billion, while fixed assets rose 2% and stood at Rs 4 billion in FY21.
• Overall, the total assets and liabilities for FY21 stood at Rs 6 billion as against Rs 6 billion during FY20, thereby witnessing a growth of 6%.

ANDREW YULE Balance Sheet as on March 2021

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*	% Change
Networth	Rs m	3,429	3,787	10.4
Current Liabilities	Rs m	2,172	2,153	-0.9
Long-term Debt	Rs m	0	5	0.0
Total Liabilities	Rs m	6,023	6,356	5.5
Current assets	Rs m	2,104	2,343	11.4
Fixed Assets	Rs m	3,919	4,014	2.4
Total Assets	Rs m	6,023	6,356	5.5

ANDREW YULE Cash Flow Statement Analysis

• ANDREW YULE's cash flow from operating activities (CFO) during FY21 stood at Rs -155 million, an improvement of 7.7% on a YoY basis.
• Cash flow from investing activities (CFI) during FY21 stood at Rs 270 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY21 stood at Rs -76 million on a YoY basis.
• Overall, net cash flows for the company during FY21 stood at Rs 39 million from the Rs -171 million net cash flows seen during FY20.

ANDREW YULE Cash Flow Statement 2020-21

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-20	Mar-21
Cash Flow from Operating Activities	Rs m	-144	-155	-
Cash Flow from Investing Activities	Rs m	-281	270	-
Cash Flow from Financing Activities	Rs m	254	-76	-
Net Cash Flow	Rs m	-171	39	-

Current Valuations for ANDREW YULE

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.4, an improvement from the EPS of Rs -0.4 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 19.8, stands at 45.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.6 times, while the price to sales ratio stands at 2.9 times.
• The company's price to cash flow (P/CF) ratio stood at 30.4 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*
Sales per share (Unadj.)	Rs	6.1	6.8
TTM Earnings per share	Rs	-0.4	0.4
Diluted earnings per share	Rs	-0.4	0.4
Price to Cash Flow	x	-24.9	30.4
TTM P/E ratio	x	-18.7	45.6
Price / Book Value ratio	x	1.9	2.2
Market Cap	Rs m	6,403	8,239
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ANDREW YULE

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.1x during FY21, from 1.0x during FY20. 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 2.7x during FY21, from -1.7x during FY20. 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 5.4% during FY21, from -6.3% during FY21. 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 5.9% during FY21, from -4.2% during FY20. 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 4.5% during FY21, from -2.2% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*
Current ratio	x	1.0	1.1
Debtors’ Days	Days	624	698
Interest coverage	x	-1.7	2.7
Debt to equity ratio	x	0.0	0.0
Return on assets	%	-2.2	4.5
Return on equity	%	-6.3	5.4
Return on capital employed	%	-4.2	5.9

To see how ANDREW YULE has performed over the last 5 years, please visit here.

ANDREW YULE Share Price Performance

Over the last one year, ANDREW YULE share price has moved up from Rs 7.7 to Rs 19.8, registering a gain of Rs 12.0 or around 156.2%.

Overall, the S&P BSE SENSEX is up 74.1% over the year.

(To know more, check out historical annual results for ANDREW YULE and quarterly results for ANDREW YULE)

Read: Latest Annual Report Analysis of ANDREW YULE