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ASTRAL POLY TECHNICK 2017-18 Annual Report Analysis
Sat, 31 Mar

ASTRAL POLY TECHNICK 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.

ASTRAL POLY TECHNICK Income Statement Analysis

  • Operating income during the year rose 22.7% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 20.5% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 15.5% in FY18 as against 15.8% in FY17.
  • Depreciation charges increased by 13.8% and finance costs increased by 17.3% YoY, respectively.
  • Other income grew by 39.0% YoY.
  • Net profit for the year grew by 21.1% YoY.
  • Net profit margins during the year declined from 8.9% in FY17 to 8.7% in FY18.

ASTRAL POLY TECHNICK Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 16,620 20,401 22.7%
Other income Rs m 91 127 39.0%
Total Revenues Rs m 16,712 20,527 22.8%
Gross profit Rs m 2,628 3,168 20.5%
Depreciation Rs m 502 571 13.8%
Interest Rs m 184 216 17.3%
Profit before tax Rs m 2,034 2,508 23.3%
Tax Rs m 562 724 29.0%
Profit after tax Rs m 1,472 1,783 21.1%
Gross profit margin % 15.8 15.5
Effective tax rate % 27.6 28.9
Net profit margin % 8.9 8.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Read Now: We're Bullish on 2 Non-Nifty Stocks

ASTRAL POLY TECHNICK Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 5 billion as compared to Rs 5 billion in FY17, thereby witnessing an increase of 8.4%.
  • Long-term debt down at Rs 1 billion as compared to Rs 1 billion during FY17, a fall of 3.7%.
  • Current assets rose 10% and stood at Rs 7 billion, while fixed assets rose 19% and stood at Rs 9 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 17 billion as against Rs 15 billion during FY17, thereby witnessing a growth of 15%.

ASTRAL POLY TECHNICK Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 8,468 10,167 20.1
 
Current Liabilities Rs m 4,532 4,912 8.4
Long-term Debt Rs m 1,219 1,174 -3.7
Total Liabilities Rs m 14,616 16,750 14.6
 
Current assets Rs m 6,764 7,430 9.8
Fixed Assets Rs m 7,853 9,321 18.7
Total Assets Rs m 14,616 16,750 14.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



ASTRAL POLY TECHNICK Cash Flow Statement Analysis

  • ASTRAL POLY TECHNICK's cash flow from operating activities (CFO) during FY18 stood at Rs 3 billion, an improvement of 146.8% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -2 billion, an improvement of 17.3% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -711 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 255 million from the Rs -317 million net cash flows seen during FY17.

ASTRAL POLY TECHNICK 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 1,142 2,818 146.8%
Cash Flow from Investing Activities Rs m -1,580 -1,853 -
Cash Flow from Financing Activities Rs m 121 -711 -
Net Cash Flow Rs m -317 255 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for ASTRAL POLY TECHNICK

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 14.9, an improvement from the EPS of Rs 12.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 895.7, stands at 100.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 17.7 times, while the price to sales ratio stands at 5.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 37.5 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 138.8 170.3
TTM Earnings per share Rs 12.3 14.9
Diluted earnings per share Rs 7.3 8.9
Price to Cash Flow x 55.7 37.5
TTM P/E ratio x 75.7 100.9
Price / Book Value ratio x 7.3 8.7
Market Cap Rs m 62,159 88,376
Dividends per share (Unadj.) Rs 0.5 0.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for ASTRAL POLY TECHNICK

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.5x during FY18, from 1.5x 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 12.6x during FY18, from 12.1x 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 improved and stood at 17.5% during FY18, from 17.4% 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 24.0% during FY18, from 22.9% 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 11.9% during FY18, from 11.3% 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 1.5 1.5
Debtors’ Days Days 743 549
Interest coverage x 12.1 12.6
Debt to equity ratio x 0.1 0.1
Return on assets % 11.3 11.9
Return on equity % 17.4 17.5
Return on capital employed % 22.9 24.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how ASTRAL POLY TECHNICK has performed over the last 5 years, please visit here.

ASTRAL POLY TECHNICK Share Price Performance

Over the last one year, ASTRAL POLY TECHNICK share price has moved up from Rs 547.5 to Rs 895.7, registering a gain of Rs 348.2 or around 63.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,476.7 (down 0.1%). Over the last one year it has moved up from 16,446.0 to 18,476.7, a gain of 2,031 points (up 12.3%).

Overall, the S&P BSE SENSEX is up 12.1% over the year.

(To know more, check out historical annual results for ASTRAL POLY TECHNICK and quarterly results for ASTRAL POLY TECHNICK)

Annual Report FAQs

What is the current share price of ASTRAL POLY TECHNICK?

ASTRAL POLY TECHNICK currently trades at Rs 1,990.5 per share. You can check out the latest share price performance of ASTRAL POLY TECHNICK here...

What was the revenue of ASTRAL POLY TECHNICK in FY18? How does it compare to earlier years?

The revenues of ASTRAL POLY TECHNICK stood at Rs 20,527 m in FY18, which was up 22.8% compared to Rs 16,712 m reported in FY17.

ASTRAL POLY TECHNICK's revenue has grown from Rs 9,831 m in FY14 to Rs 20,527 m in FY18.

Over the past 5 years, the revenue of ASTRAL POLY TECHNICK has grown at a CAGR of 20.2%.

What was the net profit of ASTRAL POLY TECHNICK in FY18? How does it compare to earlier years?

The net profit of ASTRAL POLY TECHNICK stood at Rs 1,783 m in FY18, which was up 21.1% compared to Rs 1,472 m reported in FY17.

This compares to a net profit of Rs 1,075 m in FY16 and a net profit of Rs 782 m in FY15.

Over the past 5 years, ASTRAL POLY TECHNICK net profit has grown at a CAGR of 22.5%.

What does the cash flow statement of ASTRAL POLY TECHNICK reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of ASTRAL POLY TECHNICK reveals:

  • Cash flow from operations increased in FY18 and stood at Rs 2,818 m as compared to Rs 1,142 m in FY17.
  • Cash flow from investments decreased in FY18 and stood at Rs -1,853 m as compared to Rs -1,580 m in FY17.
  • Cash flow from financial activity decreased in FY18 and stood at Rs -711 m as compared to Rs 121 m in FY17.

Here's the cash flow statement of ASTRAL POLY TECHNICK for the past 5 years.

(Rs m)FY14FY15FY16FY17FY18
From Operations6741,1702,2581,1422,818
From Investments-911-3,435-2,029-1,580-1,853
From Financial Activity1312,371156121-711
Net Cashflow-106106385-317255

What does the Key Ratio analysis of ASTRAL POLY TECHNICK reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of ASTRAL POLY TECHNICK reveals:

  • Operating profit margins witnessed a fall and stood at 15.5% in FY18 as against 15.8% in FY17.
  • Net profit margins declined from 8.9% in FY17 to 8.7% in FY18.
  • Debt to Equity ratio for FY18 stood at 0.1 as compared to 0.1 in FY17.

Here's the ratio/financial analysis of ASTRAL POLY TECHNICK for the past 5 years.

 FY14FY15FY16FY17FY18
Operating Profit Margin (%)15.812.914.015.815.5
Net Profit Margin (%)8.16.07.38.98.7
Debt to Equity Ratio (x)0.30.20.20.10.1

Read: Latest Annual Report Analysis of ASTRAL

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