ATUL AUTO 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?  

Markets will remain closed on 6th April, 2020 on account of Mahavir Jayanti.

ATUL AUTO 2017-18 Annual Report Analysis
Fri, 21 Dec

ATUL AUTO 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.

ATUL AUTO Income Statement Analysis

  • Operating income during the year rose 16.7% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 21.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.2% in FY18 as against 12.6% in FY17.
  • Depreciation charges decreased by 0.4% and finance costs decreased by 27.6% YoY, respectively.
  • Other income grew by 4.5% YoY.
  • Net profit for the year grew by 24.8% YoY.
  • Net profit margins during the year grew from 7.8% in FY17 to 8.4% in FY18.

ATUL AUTO Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 4,722 5,512 16.7%
Other income Rs m 25 26 4.5%
Total Revenues Rs m 4,747 5,538 16.7%
Gross profit Rs m 595 725 21.9%
Depreciation Rs m 53 53 -0.4%
Interest Rs m 6 4 -27.6%
Profit before tax Rs m 561 694 23.8%
Tax Rs m 191 232 22.0%
Profit after tax Rs m 372 464 24.8%
Gross profit margin % 12.6 13.2
Effective tax rate % 34.0 33.5
Net profit margin % 7.8 8.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ATUL AUTO Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 744 million as compared to Rs 582 million in FY17, thereby witnessing an increase of 27.8%.
  • Current assets rose 1% and stood at Rs 1 billion, while fixed assets rose 2% and stood at Rs 918 million in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 3 billion as against Rs 2 billion during FY17, thereby witnessing a growth of 22%.

ATUL AUTO Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 1,843 2,194 19.1
 
Current Liabilities Rs m 582 744 27.8
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 2,453 2,993 22.0
 
Current assets Rs m 1,434 1,445 0.8
Fixed Assets Rs m 903 918 1.7
Total Assets Rs m 2,453 2,993 22.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ATUL AUTO Cash Flow Statement Analysis

  • ATUL AUTO's cash flow from operating activities (CFO) during FY18 stood at Rs 261 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -392 million, an improvement of 35.0% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -112 million, an improvement of 19% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -243 million from the Rs 283 million net cash flows seen during FY17.

ATUL AUTO 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 711 261 -63.3%
Cash Flow from Investing Activities Rs m -290 -392 -
Cash Flow from Financing Activities Rs m -139 -112 -
Net Cash Flow Rs m 283 -243 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for ATUL AUTO

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 21.1, an improvement from the EPS of Rs 16.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 299.5, stands at 14.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.5 times, while the price to sales ratio stands at 1.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 12.8 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 215.2 251.2
TTM Earnings per share Rs 16.9 21.1
Diluted earnings per share Rs 16.9 21.1
Price to Cash Flow x 15.5 12.8
TTM P/E ratio x 14.1 14.1
Price / Book Value ratio x 5.7 4.5
Market Cap Rs m 6,570 6,570
Dividends per share (Unadj.) Rs 4.3 5.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for ATUL AUTO

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.9x during FY18, from 2.5x 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 deteriorated and stood at 166.3x during FY18, from 97.7x 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 improved and stood at 21.1% during FY18, from 20.2% 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 31.9% during FY18, from 30.8% 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 15.6% during FY18, from 15.4% 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 2.5 1.9
Debtors’ Days Days 36 52
Interest coverage x 97.7 166.3
Debt to equity ratio x 0.0 0.0
Return on assets % 15.4 15.6
Return on equity % 20.2 21.1
Return on capital employed % 30.8 31.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how ATUL AUTO has performed over the last 5 years, please visit here.

ATUL AUTO Share Price Performance

Over the last one year, ATUL AUTO share price has moved up from Rs 439.8 to Rs 299.5, registering a loss of Rs 140.3 or around 31.9%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 21,503.9 (up 0.2%). Over the last one year it has moved down from 26,458.2 to 21,503.9, a loss of 4,954 points (down 18.7%).

Overall, the S&P BSE SENSEX is up 7.8% over the year.

(To know more, check out historical annual results for ATUL AUTO and quarterly results for ATUL AUTO)

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

  

Related Views on News

ATUL AUTO Announces Quarterly Results (3QFY20); Net Profit Up 22.2% (Quarterly Result Update)

Feb 19, 2020 | Updated on Feb 19, 2020

For the quarter ended December 2019, ATUL AUTO has posted a net profit of Rs 197 m (up 22.2% YoY). Sales on the other hand came in at Rs 2 bn (up 3.6% YoY). Read on for a complete analysis of ATUL AUTO's quarterly results.

ATUL AUTO 2018-19 Annual Report Analysis (Annual Result Update)

Sep 16, 2019 | Updated on Sep 16, 2019

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

ATUL AUTO Announces Quarterly Results (1QFY20); Net Profit Up 9.1% (Quarterly Result Update)

Aug 16, 2019 | Updated on Aug 16, 2019

For the quarter ended June 2019, ATUL AUTO has posted a net profit of Rs 112 m (up 9.1% YoY). Sales on the other hand came in at Rs 1 bn (up 7.6% YoY). Read on for a complete analysis of ATUL AUTO's quarterly results.

More Views on News

Most Popular

Sorry Warren Buffett, I'm Following This Man Instead of You in 2020(The 5 Minute Wrapup)

Mar 30, 2020

This man warned of an impending market correction while everyone else was celebrating the renewed optimism in early 2020...

The Biggest Trading Opportunity of 2020 is Here...

Mar 26, 2020

India's #1 trader, Vijay Bhambwani, talks about a hugely profitable trading opportunity which you must know about today!

A Big Trading Opportunity is Coming Your Way Soon(Fast Profits Daily)

Mar 25, 2020

I see a big opportunity to make fast profits on the horizon.

Coronavirus Sell-off Is a Perfect Time to 'Lockdown' this 'Crorepati' Stock(Profit Hunter)

Mar 24, 2020

Coronavirus crisis and panic selling has brought this quality smallcap to multiyear lows, making it a great bargain.

One Stock that is All Charged Up for the Post Coronavirus Rebound(The 5 Minute Wrapup)

Apr 1, 2020

A stock with strong moat is currently trading near 5-year lows.

More

How to Trade the
Coronavirus Crash

Coronavirus Crash
Get this special report, authored by Equitymaster's top analysts, now.
We will never sell or rent your email id.
Please read our Terms

TRACK ATUL AUTO

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

COMPARE ATUL AUTO WITH

MARKET STATS