ASTRA MICRO 2017-18 Annual Report Analysis

Thu, 20 Dec

ASTRA MICRO 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.

ASTRA MICRO Income Statement Analysis

• Operating income during the year fell 7.1% on a year-on-year (YoY) basis.
• The company's operating profit increased by 11.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 30.6% in FY18 as against 25.5% in FY17.
• Depreciation charges increased by 11.9% and finance costs increased by 8.6% YoY, respectively.
• Other income grew by 40.3% YoY.
• Net profit for the year grew by 6.1% YoY.
• Net profit margins during the year grew from 14.5% in FY17 to 16.5% in FY18.

ASTRA MICRO Income Statement 2017-18

ASTRA MICRO Balance Sheet Analysis

• The company's current liabilities during FY18 stood at Rs 2 billion as compared to Rs 1 billion in FY17, thereby witnessing an increase of 21.2%.
• Long-term debt down at Rs 143 million as compared to Rs 673 million during FY17, a fall of 78.8%.
• Current assets rose 7% and stood at Rs 5 billion, while fixed assets rose 4% and stood at Rs 2 billion in FY18.
• Overall, the total assets and liabilities for FY18 stood at Rs 7 billion as against Rs 6 billion during FY17, thereby witnessing a growth of 4%.

ASTRA MICRO Balance Sheet as on March 2018

ASTRA MICRO Cash Flow Statement Analysis

• ASTRA MICRO's cash flow from operating activities (CFO) during FY18 stood at Rs 2 billion, an improvement of 1,142.7% on a YoY basis.
• Cash flow from investing activities (CFI) during FY18 stood at Rs -944 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY18 stood at Rs -648 million on a YoY basis.
• Overall, net cash flows for the company during FY18 stood at Rs 197 million from the Rs -631 million net cash flows seen during FY17.

ASTRA MICRO Cash Flow Statement 2017-18

Current Valuations for ASTRA MICRO

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 7.1, an improvement from the EPS of Rs 6.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 82.3, stands at 13.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.9 times, while the price to sales ratio stands at 2.7 times.
• The company's price to cash flow (P/CF) ratio stood at 7.6 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

Ratio Analysis for ASTRA MICRO

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 3.0x during FY18, from 3.4x 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 7.5x during FY18, from 7.2x 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 12.2% during FY18, from 12.8% 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 improved and stood at 17.8% during FY18, from 15.7% 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 improved and stood at 10.8% during FY18, from 10.6% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

To see how ASTRA MICRO has performed over the last 5 years, please visit here.

ASTRA MICRO Share Price Performance

Over the last one year, ASTRA MICRO share price has moved up from Rs 116.5 to Rs 82.3, registering a loss of Rs 34.2 or around 29.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,794.4 (down 0.0%). Over the last one year it has moved up from 18,684.3 to 18,794.4, a gain of 110 points (up 0.6%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

(To know more, check out historical annual results for ASTRA MICRO and quarterly results for ASTRA MICRO)