AURIONPRO SOLN 2020-21 Annual Report Analysis

Wed, 31 Mar

AURIONPRO SOLN 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.

AURIONPRO SOLN Income Statement Analysis

• Operating income during the year fell 20.4% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 145.0% YoY during the fiscal. Operating profit margins witnessed a growth and stood at 9.9% in FY21 as against 17.5% in FY20.
• Depreciation charges increased by 251.2% and finance costs decreased by 13.3% YoY, respectively.
• Other income declined by 69.6% YoY.
• Net profit for the year declined by 713.8% YoY.
• Net profit margins during the year declined from 6.7% in FY20 to 51.3% in FY21.

AURIONPRO SOLN Income Statement 2020-21

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*	% Change
Net Sales	Rs m	4,698	3,740	-20.4%
Other income	Rs m	98	30	-69.6%
Total Revenues	Rs m	4,795	3,770	-21.4%
Gross profit	Rs m	820	-369	-145.0%
Depreciation	Rs m	397	1,394	251.2%
Interest	Rs m	182	158	-13.3%
Profit before tax	Rs m	339	-1,891	-658.2%
Tax	Rs m	26	29	13.3%
Profit after tax	Rs m	313	-1,920	-713.8%
Gross profit margin	%	17.5	-9.9
Effective tax rate	%	7.6	-1.6
Net profit margin	%	6.7	-51.3

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AURIONPRO SOLN Balance Sheet Analysis

• The company's current liabilities during FY21 down at Rs 2 billion as compared to Rs 3 billion in FY20, thereby witnessing an decrease of -19.4%.
• Long-term debt down at Rs 496 million as compared to Rs 555 million during FY20, a fall of 10.7%.
• Current assets fell 6% and stood at Rs 4 billion, while fixed assets fell 59% and stood at Rs 2 billion in FY21.
• Overall, the total assets and liabilities for FY21 stood at Rs 6 billion as against Rs 9 billion during FY20, thereby witnessing a fall of 35%.

AURIONPRO SOLN Balance Sheet as on March 2021

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*	% Change
Networth	Rs m	5,235	3,365	-35.7
Current Liabilities	Rs m	2,575	2,075	-19.4
Long-term Debt	Rs m	555	496	-10.7
Total Liabilities	Rs m	9,354	6,069	-35.1
Current assets	Rs m	4,180	3,932	-5.9
Fixed Assets	Rs m	5,174	2,137	-58.7
Total Assets	Rs m	9,354	6,069	-35.1

AURIONPRO SOLN Cash Flow Statement Analysis

• AURIONPRO SOLN's cash flow from operating activities (CFO) during FY21 stood at Rs 492 million, an improvement of 124.1% on a YoY basis.
• Cash flow from investing activities (CFI) during FY21 stood at Rs -100 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY21 stood at Rs -370 million on a YoY basis.
• Overall, net cash flows for the company during FY21 stood at Rs 22 million from the Rs -152 million net cash flows seen during FY20.

AURIONPRO SOLN 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	219	492	124.1%
Cash Flow from Investing Activities	Rs m	-519	-100	-
Cash Flow from Financing Activities	Rs m	148	-370	-
Net Cash Flow	Rs m	-152	22	-

Current Valuations for AURIONPRO SOLN

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -84.2, an decline from the EPS of Rs 13.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 136.9, stands at -2.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.9 times, while the price to sales ratio stands at 0.8 times.
• The company's price to cash flow (P/CF) ratio stood at -4.2 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	206.0	164.0
TTM Earnings per share	Rs	13.7	-84.2
Diluted earnings per share	Rs	13.7	-84.2
Price to Cash Flow	x	1.3	-4.2
TTM P/E ratio	x	2.9	-2.7
Price / Book Value ratio	x	0.4	0.7
Market Cap	Rs m	2,121	2,218
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for AURIONPRO SOLN

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.9x during FY21, from 1.6x 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 deteriorated and stood at -11.0x during FY21, from 2.9x 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 declined and down at -57.1% during FY21, from 6.0% 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 declined and down at -44.9% during FY21, from 9.0% 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 declined and down at -29.0% during FY21, from 5.3% 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	1.6	1.9
Debtors’ Days	Days	1,036	1,006
Interest coverage	x	2.9	-11.0
Debt to equity ratio	x	0.1	0.1
Return on assets	%	5.3	-29.0
Return on equity	%	6.0	-57.1
Return on capital employed	%	9.0	-44.9

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 40.0 to Rs 136.9, registering a gain of Rs 96.9 or around 242.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 26,543.2 (down 0.7%). Over the last one year it has moved up from 12,842.7 to 26,543.2, a gain of 13,701 points (up 106.7%).

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

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

Read: Latest Annual Report Analysis of AURIONPRO SOLN