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APOLLO FIN I 2021-22 Annual Report Analysis
Thu, 31 Mar

APOLLO FIN I has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

APOLLO FIN I Income Statement Analysis

  • Operating income during the year rose 362.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 163.2% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 19.3% in FY22 as against 33.9% in FY21.
  • Depreciation charges increased by 4.5% and finance costs increased by 92.5% YoY, respectively.
  • Other income grew by 408.6% YoY.
  • Net profit for the year grew by 210.4% YoY.
  • Net profit margins during the year declined from 27.0% in FY21 to 18.2% in FY22.

APOLLO FIN I Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 152 701 362.3%
Other income Rs m 8 39 408.6%
Total Revenues Rs m 159 740 364.5%
Gross profit Rs m 51 135 163.2%
Depreciation Rs m 2 2 4.5%
Interest Rs m 1 2 92.5%
Profit before tax Rs m 56 170 204.0%
Tax Rs m 15 43 186.5%
Profit after tax Rs m 41 127 210.4%
Gross profit margin % 33.9 19.3
Effective tax rate % 26.9 25.3
Net profit margin % 27.0 18.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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APOLLO FIN I Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 682 million as compared to Rs 321 million in FY21, thereby witnessing an increase of 112.4%.
  • Current assets rose 86% and stood at Rs 1 billion, while fixed assets rose 3% and stood at Rs 54 million in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 1 billion as against Rs 608 million during FY21, thereby witnessing a growth of 79%.

APOLLO FIN I Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 291 419 43.8
 
Current Liabilities Rs m 321 682 112.4
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 608 1,088 79.0
 
Current assets Rs m 555 1,033 86.3
Fixed Assets Rs m 53 54 2.6
Total Assets Rs m 608 1,088 79.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



APOLLO FIN I Cash Flow Statement Analysis

  • APOLLO FIN I's cash flow from operating activities (CFO) during FY22 stood at Rs -115 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs 6 million, an improvement of 164.7% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs 99 million, an improvement of 343% on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs -10 million from the Rs 24 million net cash flows seen during FY21.

APOLLO FIN I Cash Flow Statement 2021-22

Particulars No. of months 12 12 % Change
Year Ending Mar-21 Mar-22
Cash Flow from Operating Activities Rs m 63 -115 -
Cash Flow from Investing Activities Rs m 2 6 164.7%
Cash Flow from Financing Activities Rs m -41 99 -
Net Cash Flow Rs m 24 -10 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for APOLLO FIN I

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 34.1, an improvement from the EPS of Rs 11.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 799.0, stands at 23.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 7.1 times, while the price to sales ratio stands at 4.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 17.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 40.7 187.9
TTM Earnings per share Rs 11.0 34.1
Diluted earnings per share Rs 11.0 34.1
Price to Cash Flow x 28.4 17.7
TTM P/E ratio x 30.0 23.4
Price / Book Value ratio x 4.6 5.5
Market Cap Rs m 1,332 2,297
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for APOLLO FIN I

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.5x during FY22, from 1.7x during FY21. 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 111.6x during FY22, from 71.1x during FY21. 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 30.4% during FY22, from 14.1% during FY22. 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 41.0% during FY22, from 19.5% during FY21. 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 11.8% during FY22, from 6.9% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 1.7 1.5
Debtors’ Days Days 69 17
Interest coverage x 71.1 111.6
Debt to equity ratio x 0.0 0.0
Return on assets % 6.9 11.8
Return on equity % 14.1 30.4
Return on capital employed % 19.5 41.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how APOLLO FIN I has performed over the last 5 years, please visit here.

APOLLO FIN I Share Price Performance

Over the last one year, APOLLO FIN I share price has moved up from Rs 329.1 to Rs 799.0, registering a gain of Rs 470.0 or around 142.8%.

Overall, the S&P BSE SENSEX is up 16.8% over the year.

(To know more, check out historical annual results for APOLLO FIN I and quarterly results for APOLLO FIN I)

Annual Report FAQs

What is the current share price of APOLLO FIN I?

APOLLO FIN I currently trades at Rs 492.4 per share. You can check out the latest share price performance of APOLLO FIN I here...

What was the revenue of APOLLO FIN I in FY22? How does it compare to earlier years?

The revenues of APOLLO FIN I stood at Rs 740 m in FY22, which was up 364.5% compared to Rs 159 m reported in FY21.

APOLLO FIN I's revenue has grown from Rs 19 m in FY18 to Rs 740 m in FY22.

Over the past 5 years, the revenue of APOLLO FIN I has grown at a CAGR of 150.6%.

What was the net profit of APOLLO FIN I in FY22? How does it compare to earlier years?

The net profit of APOLLO FIN I stood at Rs 127 m in FY22, which was up 210.4% compared to Rs 41 m reported in FY21.

This compares to a net profit of Rs 66 m in FY20 and a net profit of Rs 15 m in FY19.

Over the past 5 years, APOLLO FIN I net profit has grown at a CAGR of 85.0%.

What does the cash flow statement of APOLLO FIN I 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 APOLLO FIN I reveals:

  • Cash flow from operations decreased in FY22 and stood at Rs -115 m as compared to Rs 63 m in FY21.
  • Cash flow from investments increased in FY22 and stood at Rs 6 m as compared to Rs 2 m in FY21.
  • Cash flow from financial activity increased in FY22 and stood at Rs 99 m as compared to Rs -41 m in FY21.

Here's the cash flow statement of APOLLO FIN I for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations-17-2426163-115
From Investments40-42-23526
From Financial Activity052-21-4199
Net Cashflow23-14624-10

What does the Key Ratio analysis of APOLLO FIN I 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 APOLLO FIN I reveals:

  • Operating profit margins witnessed a fall and stood at 19.3% in FY22 as against 33.9% in FY21.
  • Net profit margins declined from 27.0% in FY21 to 18.2% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.0 as compared to 0.0 in FY21.

Here's the ratio/financial analysis of APOLLO FIN I for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)62.155.435.533.919.3
Net Profit Margin (%)61.242.323.527.018.2
Debt to Equity Ratio (x)0.00.00.00.00.0

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