DELTA CORP. 2018-19 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

DELTA CORP. 2018-19 Annual Report Analysis
Fri, 18 Oct

DELTA CORP. has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

DELTA CORP. Income Statement Analysis

  • Operating income during the year rose 31.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 29.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 39.9% in FY19 as against 40.7% in FY18.
  • Depreciation charges increased by 1.5% and finance costs decreased by 82.9% YoY, respectively.
  • Other income grew by 9.3% YoY.
  • Net profit for the year grew by 29.7% YoY.
  • Net profit margins during the year declined from 24.3% in FY18 to 24.2% in FY19.

DELTA CORP. Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 6,077 7,978 31.3%
Other income Rs m 286 313 9.3%
Total Revenues Rs m 6,363 8,291 30.3%
Gross profit Rs m 2,470 3,187 29.0%
Depreciation Rs m 371 377 1.5%
Interest Rs m 104 18 -82.9%
Profit before tax Rs m 2,281 3,105 36.1%
Tax Rs m 737 1,141 54.9%
Profit after tax Rs m 1,548 2,007 29.7%
Gross profit margin % 40.7 39.9
Effective tax rate % 32.3 36.8
Net profit margin % 24.3 24.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Listen In: Our Investor Hour Podcast Connects You with the World's Most Successful Investors

DELTA CORP. Balance Sheet Analysis

  • The company's current liabilities during FY19 down at Rs 1 billion as compared to Rs 3 billion in FY18, thereby witnessing an decrease of -57.1%.
  • Current assets rose 6% and stood at Rs 7 billion, while fixed assets rose 1% and stood at Rs 12 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 21 billion as against Rs 20 billion during FY18, thereby witnessing a growth of 4%.

DELTA CORP. Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 16,827 19,423 15.4
 
Current Liabilities Rs m 2,752 1,181 -57.1
Long-term Debt Rs m 13 0 -100.0
Total Liabilities Rs m 20,082 20,950 4.3
 
Current assets Rs m 7,053 7,445 5.6
Fixed Assets Rs m 12,277 12,424 1.2
Total Assets Rs m 20,082 20,950 4.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



DELTA CORP. Cash Flow Statement Analysis

  • DELTA CORP.'s cash flow from operating activities (CFO) during FY19 stood at Rs 1 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -785 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -727 million on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -497 million from the Rs 935 million net cash flows seen during FY18.

DELTA CORP. Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 2,285 1,014 -55.6%
Cash Flow from Investing Activities Rs m -4,605 -785 -
Cash Flow from Financing Activities Rs m 3,011 -727 -
Net Cash Flow Rs m 935 -497 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for DELTA CORP.

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 7.4, an improvement from the EPS of Rs 5.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 178.8, stands at 19.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.5 times, while the price to sales ratio stands at 8.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 17.3 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 22.7 29.4
TTM Earnings per share Rs 5.8 7.4
Diluted earnings per share Rs 6.7 8.7
Price to Cash Flow x 24.8 17.3
TTM P/E ratio x 22.9 19.7
Price / Book Value ratio x 4.3 3.5
Market Cap Rs m 47,845 41,242
Dividends per share (Unadj.) Rs 1.0 0.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for DELTA CORP.

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 6.3x during FY19, from 2.6x during FY18. 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 175.5x during FY19, from 23.0x during FY18. 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 10.3% during FY19, from 9.2% during FY19. 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 16.3% during FY19, from 14.2% during FY18. 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 9.7% during FY19, from 8.2% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 2.6 6.3
Debtors’ Days Days 5 3
Interest coverage x 23.0 175.5
Debt to equity ratio x 0.0 0.0
Return on assets % 8.2 9.7
Return on equity % 9.2 10.3
Return on capital employed % 14.2 16.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how DELTA CORP. has performed over the last 5 years, please visit here.

DELTA CORP. Share Price Performance

Over the last one year, DELTA CORP. share price has moved down from Rs 227.0 to Rs 178.8, registering a loss of Rs 48.2 or around 21.2%.

Overall, the S&P BSE SENSEX is up 12.8% over the year.

(To know more, check out historical annual results for DELTA CORP. and quarterly results for DELTA CORP.)

Equitymaster requests your view! Post a comment on "DELTA CORP. 2018-19 Annual Report Analysis". Click here!

  

Related Views on News

DELTA CORP. Announces Quarterly Results (2QFY20); Net Profit Up 22.7% (Quarterly Result Update)

Oct 17, 2019 | Updated on Oct 17, 2019

For the quarter ended September 2019, DELTA CORP. has posted a net profit of Rs 590 m (up 22.7% YoY). Sales on the other hand came in at Rs 2 bn (down 0.3% YoY). Read on for a complete analysis of DELTA CORP.'s quarterly results.

DELTA CORP. Announces Quarterly Results (1QFY20); Net Profit Up 2.3% (Quarterly Result Update)

Jul 10, 2019 | Updated on Jul 10, 2019

For the quarter ended June 2019, DELTA CORP. has posted a net profit of Rs 424 m (up 2.3% YoY). Sales on the other hand came in at Rs 2 bn (down 0.4% YoY). Read on for a complete analysis of DELTA CORP.'s quarterly results.

DELTA CORP. 2017-18 Annual Report Analysis (Annual Result Update)

Dec 20, 2018 | Updated on Dec 20, 2018

Here's an analysis of the annual report of DELTA CORP. for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of DELTA CORP.. Also includes updates on the valuation of DELTA CORP..

More Views on News

Most Popular

Could this Smallcap Be the Next Page Industries?(Profit Hunter)

Nov 27, 2019

A single stock - Coca Cola, made Buffett billions. Here's your chance to break into the crorepati club with a single smallcap stock investment.

How We Made 12.68% in One Overnight Trade(The 5 Minute Wrapup)

Nov 25, 2019

This one trade had my subscribers laughing all the way to the bank.

Growth Stocks or Value Stocks... What Will Make You More Money in this Bull Market?(Profit Hunter)

Nov 28, 2019

Should you invest in growth stocks or value stocks to make strong returns in this market?

Two Trends to Look at as Sensex Crosses 41,000 Levels(Views On News)

Nov 26, 2019

The two trends that are playing out as Sensex touches new record high.

The Best Trading Strategy for Fast Profits

Nov 29, 2019

Vijay and I have decided to team up and bring you a unique offering never seen before in the Indian stock markets.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2020
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK DELTA CORP.

  • Track your investment in DELTA CORP. with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

DELTA CORP. 8-QTR ANALYSIS

COMPARE DELTA CORP. WITH

MARKET STATS