ASTRAL POLY 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?  

ASTRAL POLY 2017-18 Annual Report Analysis
Wed, 6 Mar

ASTRAL POLY 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 Income Statement Analysis

  • Operating income during the year rose 11.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 20.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 15.0% in FY18 as against 13.9% 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 21.5% YoY.
  • Net profit margins during the year grew from 7.6% in FY17 to 8.3% in FY18.

ASTRAL POLY Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 18,947 21,060 11.2%
Other income Rs m 91 127 39.0%
Total Revenues Rs m 19,038 21,187 11.3%
Gross profit Rs m 2,638 3,168 20.1%
Depreciation Rs m 502 571 13.8%
Interest Rs m 184 216 17.3%
Profit before tax Rs m 2,043 2,508 22.7%
Tax Rs m 562 725 29.0%
Profit after tax Rs m 1,446 1,757 21.5%
Gross profit margin % 13.9 15.0
Effective tax rate % 27.5 28.9
Net profit margin % 7.6 8.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ASTRAL POLY 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 11% and stood at Rs 7 billion, while fixed assets rose 28% and stood at Rs 7 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 Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 8,468 10,182 20.2
 
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 14,618 16,751 14.6
 
Current assets Rs m 6,718 7,430 10.6
Fixed Assets Rs m 5,320 6,786 27.6
Total Assets Rs m 14,618 16,751 14.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ASTRAL POLY Cash Flow Statement Analysis

  • ASTRAL POLY'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 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 2,819 146.8%
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: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for ASTRAL POLY

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 14.7, an improvement from the EPS of Rs 12.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,160.0, stands at 67.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 8.7 times, while the price to sales ratio stands at 4.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 58.3 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 158.2 175.9
TTM Earnings per share Rs 12.1 14.7
Diluted earnings per share Rs 12.2 14.8
Price to Cash Flow x 70.4 58.3
TTM P/E ratio x 68.5 67.7
Price / Book Value ratio x 7.3 8.7
Market Cap Rs m 138,910 137,309
Dividends per share (Unadj.) Rs 0.5 0.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for ASTRAL POLY

  • 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 17.3% during FY18, from 17.1% 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 23.7% during FY18, from 22.6% 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 11.8% during FY18, from 11.1% 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 65 53
Interest coverage x 12.1 12.6
Debt to equity ratio x 0.1 0.1
Return on assets % 11.1 11.8
Return on equity % 17.1 17.3
Return on capital employed % 22.6 23.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

ASTRAL POLY Share Price Performance

Over the last one year, ASTRAL POLY share price has moved up from Rs 851.5 to Rs 1,160.0, registering a gain of Rs 308.5 or around 36.2%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,660.5 (up 0.7%). Over the last one year it has moved down from 18,592.8 to 17,660.5, a loss of 932 points (down 5.0%).

Overall, the S&P BSE SENSEX is up 8.6% over the year.

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

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

  

Related Views on News

ASTRAL POLY TECHNICK Announces Quarterly Results (2QFY20); Net Profit Up 80.0% (Quarterly Result Update)

Oct 29, 2019 | Updated on Oct 29, 2019

For the quarter ended September 2019, ASTRAL POLY TECHNICK has posted a net profit of Rs 825 m (up 80.0% YoY). Sales on the other hand came in at Rs 7 bn (up 7.8% YoY). Read on for a complete analysis of ASTRAL POLY TECHNICK's quarterly results.

ASTRAL POLY TECHNICK Announces Quarterly Results (1QFY20); Net Profit Up 25.0% (Quarterly Result Update)

Aug 5, 2019 | Updated on Aug 5, 2019

For the quarter ended June 2019, ASTRAL POLY TECHNICK has posted a net profit of Rs 480 m (up 25.0% YoY). Sales on the other hand came in at Rs 6 bn (up 27.2% YoY). Read on for a complete analysis of ASTRAL POLY TECHNICK's quarterly results.

Garden Reach Shipbuilders and Engineers Ltd: Is This PSU Shipbuilder Worth Betting On? (IPO)

Sep 24, 2018

Should you apply for the IPO of Garden Reach Shipbuilders and Engineers Ltd?

H.G Infra Engineering Ltd. (IPO)

Feb 24, 2018

Should you subscribe to the IPO of H.G Infra Engineering Ltd.?

More Views on News

Most Popular

My Latest Stock Recommendation(Fast Profits Daily)

Jan 10, 2020

The story behind my latest stock recommendation and an important announcement.

Saffron Curtain = Hindutva Rate of Growth?(The Honest Truth)

Jan 8, 2020

Will the Indian economy revert to a sub-3% growth rate?

Multibaggers of the Next Decade(The 5 Minute Wrapup)

Jan 6, 2020

The one key ingredient to be seen amongst top multibaggers of the next decade

Your Safe Income Options for 2020(Fast Profits Daily)

Jan 9, 2020

What are you safest investing options in 2020 when interest rates fall.

Bet on These Smallcap Stocks for Success in 2020(Profit Hunter)

Jan 14, 2020

The smallcap rebound finally seems to here... Make sure you aren't too late to make the most of the biggest wealth making opportunity in a decade.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get our special report, Secret to Increasing Your Trading Profits Today Now!
We will never sell or rent your email id.
Please read our Terms

TRACK ASTRAL POLY TECHNICK

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

MORE ON ASTRAL POLY TECHNICK

ASTRAL POLY TECHNICK 8-QTR ANALYSIS

COMPARE ASTRAL POLY TECHNICK WITH

MARKET STATS