AURIONPRO SOLN 2017-18 Annual Report Analysis

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AURIONPRO SOLN 2017-18 Annual Report Analysis
Mon, 18 Mar

AURIONPRO SOLN 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.

AURIONPRO SOLN Income Statement Analysis

  • Operating income during the year fell 15.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 73.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 19.1% in FY18 as against 9.3% in FY17.
  • Depreciation charges increased by 9.2% and finance costs decreased by 14.7% YoY, respectively.
  • Other income declined by 32.7% YoY.
  • Net profit for the year grew by 16.5% YoY.
  • Net profit margins during the year grew from 6.5% in FY17 to 8.9% in FY18.

AURIONPRO SOLN Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 4,930 4,185 -15.1%
Other income Rs m 85 57 -32.7%
Total Revenues Rs m 5,014 4,242 -15.4%
Gross profit Rs m 459 799 73.9%
Depreciation Rs m 295 323 9.2%
Interest Rs m 164 140 -14.7%
Profit before tax Rs m 85 393 363.9%
Tax Rs m 36 15 -59.3%
Profit after tax Rs m 325 379 16.5%
Gross profit margin % 9.3 19.1
Effective tax rate % 42.0 3.7
Net profit margin % 6.5 8.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



AURIONPRO SOLN Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 3 billion as compared to Rs 2 billion in FY17, thereby witnessing an increase of 15.0%.
  • Long-term debt down at Rs 197 million as compared to Rs 330 million during FY17, a fall of 40.4%.
  • Current assets rose 70% and stood at Rs 4 billion, while fixed assets fell 32% and stood at Rs 2 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 8 billion as against Rs 7 billion during FY17, thereby witnessing a growth of 20%.

AURIONPRO SOLN Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 3,237 4,095 26.5
 
Current Liabilities Rs m 2,476 2,848 15.0
Long-term Debt Rs m 330 197 -40.4
Total Liabilities Rs m 7,009 8,382 19.6
 
Current assets Rs m 2,582 4,400 70.4
Fixed Assets Rs m 3,265 2,226 -31.8
Total Assets Rs m 7,009 8,382 19.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



AURIONPRO SOLN Cash Flow Statement Analysis

  • AURIONPRO SOLN's cash flow from operating activities (CFO) during FY18 stood at Rs 1 billion, an improvement of 20.7% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -78 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -354 million, an improvement of 32% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 890 million from the Rs 41 million net cash flows seen during FY17.

AURIONPRO SOLN 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 1,094 1,321 20.7%
Cash Flow from Investing Activities Rs m -513 -78 -
Cash Flow from Financing Activities Rs m -522 -354 -
Net Cash Flow Rs m 41 890 2,065.7%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for AURIONPRO SOLN

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 16.0, an improvement from the EPS of Rs 14.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 136.6, stands at 4.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.1 times, while the price to sales ratio stands at 1.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 3.5 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 224.6 177.2
TTM Earnings per share Rs 14.8 16.0
Diluted earnings per share Rs 17.8 20.8
Price to Cash Flow x 4.8 3.5
TTM P/E ratio x 5.1 4.3
Price / Book Value ratio x 0.9 1.1
Market Cap Rs m 2,997 2,488
Dividends per share (Unadj.) Rs 1.0 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for AURIONPRO SOLN

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.5x during FY18, from 1.0x 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 3.8x during FY18, from 1.5x 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 9.3% during FY18, from 10.0% 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 12.4% during FY18, from 14.7% 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 6.2% during FY18, from 7.0% 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 1.0 1.5
Debtors’ Days Days 94 111
Interest coverage x 1.5 3.8
Debt to equity ratio x 0.1 0.0
Return on assets % 7.0 6.2
Return on equity % 10.0 9.3
Return on capital employed % 14.7 12.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how AURIONPRO SOLN has performed over the last 5 years, please visit here.

AURIONPRO SOLN Share Price Performance

Over the last one year, AURIONPRO SOLN share price has moved up from Rs 216.6 to Rs 136.6, registering a loss of Rs 80.0 or around 36.9%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,185.1 (up 0.2%). Over the last one year it has moved up from 12,317.8 to 15,185.1, a gain of 2,867 points (up 23.3%).

Overall, the S&P BSE SENSEX is up 13.1% over the year.

(To know more, check out historical annual results for AURIONPRO SOLN and quarterly results for AURIONPRO SOLN)

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