X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
ASHIANA HOUSING 2017-18 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?  

ASHIANA HOUSING 2017-18 Annual Report Analysis
Thu, 20 Dec

ASHIANA HOUSING 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.

ASHIANA HOUSING Income Statement Analysis

  • Operating income during the year fell 14.6% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 40.4% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 17.8% in FY18 as against 25.4% in FY17.
  • Depreciation charges decreased by 7.1% and finance costs increased by 79.0% YoY, respectively.
  • Other income declined by 7.9% YoY.
  • Net profit for the year declined by 42.9% YoY.
  • Net profit margins during the year declined from 17.9% in FY17 to 11.9% in FY18.

ASHIANA HOUSING Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 3,586 3,064 -14.6%
Other income Rs m 148 136 -7.9%
Total Revenues Rs m 3,734 3,200 -14.3%
Gross profit Rs m 913 544 -40.4%
Depreciation Rs m 79 73 -7.1%
Interest Rs m 67 119 79.0%
Profit before tax Rs m 915 487 -46.7%
Tax Rs m 245 105 -57.0%
Profit after tax Rs m 670 382 -42.9%
Gross profit margin % 25.4 17.8
Effective tax rate % 26.8 21.6
Net profit margin % 17.9 11.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ASHIANA HOUSING Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 4 billion as compared to Rs 4 billion in FY17, thereby witnessing an decrease of -4.0%.
  • Long-term debt down at Rs 634 million as compared to Rs 781 million during FY17, a fall of 18.9%.
  • Current assets fell 2% and stood at Rs 11 billion, while fixed assets rose 41% and stood at Rs 1 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 12 billion as against Rs 12 billion during FY17, thereby witnessing a growth of 1%.

ASHIANA HOUSING Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 7,227 7,658 6.0
 
Current Liabilities Rs m 3,887 3,732 -4.0
Long-term Debt Rs m 781 634 -18.9
Total Liabilities Rs m 12,203 12,319 0.9
 
Current assets Rs m 11,125 10,881 -2.2
Fixed Assets Rs m 851 1,196 40.5
Total Assets Rs m 12,203 12,319 0.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ASHIANA HOUSING Cash Flow Statement Analysis

  • ASHIANA HOUSING's cash flow from operating activities (CFO) during FY18 stood at Rs -543 million, an improvement of 38.0% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 110 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 322 million, an improvement of 119% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -110 million from the Rs -484 million net cash flows seen during FY17.

ASHIANA HOUSING 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 -393 -543 -
Cash Flow from Investing Activities Rs m -237 110 -
Cash Flow from Financing Activities Rs m 147 322 119.3%
Net Cash Flow Rs m -484 -110 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for ASHIANA HOUSING

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.7, an decline from the EPS of Rs 6.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 118.0, stands at 10.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.7 times, while the price to sales ratio stands at 6.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 26.5 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 35.0 29.9
TTM Earnings per share Rs 6.5 3.7
Diluted earnings per share Rs 6.5 3.7
Price to Cash Flow x 16.1 26.5
TTM P/E ratio x 10.1 10.1
Price / Book Value ratio x 2.4 2.7
Market Cap Rs m 12,077 12,077
Dividends per share (Unadj.) Rs 0.3 0.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for ASHIANA HOUSING

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.9x during FY18, from 2.9x 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 deteriorated and stood at 5.1x during FY18, from 14.7x 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 5.0% during FY18, from 9.3% 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 7.3% during FY18, from 12.3% 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 4.1% during FY18, from 6.0% 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 2.9 2.9
Debtors’ Days Days 24 30
Interest coverage x 14.7 5.1
Debt to equity ratio x 0.1 0.1
Return on assets % 6.0 4.1
Return on equity % 9.3 5.0
Return on capital employed % 12.3 7.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how ASHIANA HOUSING has performed over the last 5 years, please visit here.

ASHIANA HOUSING Share Price Performance

Over the last one year, ASHIANA HOUSING share price has moved up from Rs 180.9 to Rs 118.0, registering a loss of Rs 62.9 or around 34.8%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,900.7 (up 0.4%). Over the last one year it has moved down from 2,483.9 to 1,900.7, a loss of 583 points (down 23.5%).

Overall, the S&P BSE SENSEX is up 7.5% over the year.

(To know more, check out historical annual results for ASHIANA HOUSING and quarterly results for ASHIANA HOUSING)

Equitymaster requests your view! Post a comment on "ASHIANA HOUSING 2017-18 Annual Report Analysis". Click here!

  

Related Views on News

ASHIANA HOUSING 2018-19 Annual Report Analysis (Annual Result Update)

Jun 20, 2019 | Updated on Jun 20, 2019

Here's an analysis of the annual report of ASHIANA HOUSING for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of ASHIANA HOUSING. Also includes updates on the valuation of ASHIANA HOUSING.

IRCON International IPO: Is This PSU Worth Betting On? (IPO)

Sep 17, 2018

Should you subscribe to the IPO of IRCON International Ltd?

Capacit'e Infraprojects Ltd. (IPO)

Sep 12, 2017

Should you subscribe to the IPO of Capacit'e Infraprojects Ltd?

Bharat Road Network Ltd. (IPO)

Sep 5, 2017

Should you subscribe to the IPO of Bharat Road Network Ltd?

More Views on News

Most Popular

Why Super Investor Kenneth Andrade is Bullish on Agri Stocks...and So Are We(The 5 Minute Wrapup)

Jun 21, 2019

Andrade gives his take on agriculture, an industry from which we have already recommended two stocks.

Why I Believe Smallcaps Will Catch up to the Sensex(Profit Hunter)

Jun 14, 2019

Smallcaps have gone nowhere even as the Sensex makes new all-time highs. Find out why Richa believes this a good opportunity to invest in smallcaps.

This Little-Known Opportunity Promises Both Health and Wealth for Your Grandchildren(Profit Hunter)

Jun 20, 2019

The next big opportunity that has the potential to make you both rich and healthy.

One Stock that Will Gain from the Electric Vehicle Disruption(The 5 Minute Wrapup)

Jun 25, 2019

Even if the share of the unorganized segment does not fall sharply, one player in the duopolistic battery sector has a lot to gain.

My Upcoming Stock Recommendation, Backed by Aberdeen Standard Investments, Scores 9.1/10(The 5 Minute Wrapup)

Jun 19, 2019

This month's Smart Money Secrets recommendation is from global super investor - Aberdeen Standard Investments.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
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 ASHIANA HOUSING

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

MORE ON ASHIANA HOUSING

ASHIANA HOUSING 5-YR ANALYSIS

COMPARE ASHIANA HOUSING WITH

MARKET STATS