ATLANTA LTD 2017-18 Annual Report Analysis

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ATLANTA LTD 2017-18 Annual Report Analysis
Thu, 28 Feb

ATLANTA LTD 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.

ATLANTA LTD Income Statement Analysis

  • Operating income during the year fell 27.9% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 62.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 27.4% in FY18 as against 52.1% in FY17.
  • Depreciation charges decreased by 35.0% and finance costs increased by 84.5% YoY, respectively.
  • Other income grew by 66.5% YoY.
  • Net profit for the year declined by 309.9% YoY.
  • Net profit margins during the year declined from 11.1% in FY17 to 31.3% in FY18.

ATLANTA LTD Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 2,629 1,897 -27.9%
Other income Rs m 67 111 66.5%
Total Revenues Rs m 2,696 2,007 -25.5%
Gross profit Rs m 1,371 520 -62.1%
Depreciation Rs m 515 335 -35.0%
Interest Rs m 406 749 84.5%
Profit before tax Rs m 516 -454 -187.8%
Tax Rs m 218 -124 -157.2%
Profit after tax Rs m 299 -627 -309.9%
Gross profit margin % 52.1 27.4
Effective tax rate % 42.1 27.4
Net profit margin % 11.1 -31.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ATLANTA LTD Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 4 billion as compared to Rs 7 billion in FY17, thereby witnessing an decrease of -46.3%.
  • Long-term debt down at Rs 9 billion as compared to Rs 9 billion during FY17, a fall of 4.0%.
  • Current assets fell 7% and stood at Rs 3 billion, while fixed assets rose 25% and stood at Rs 437 million in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 17 billion as against Rs 17 billion during FY17, thereby witnessing a fall of 3%.

ATLANTA LTD Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 7,427 3,931 -47.1
 
Current Liabilities Rs m 6,674 3,584 -46.3
Long-term Debt Rs m 8,920 8,565 -4.0
Total Liabilities Rs m 17,469 16,974 -2.8
 
Current assets Rs m 3,027 2,817 -6.9
Fixed Assets Rs m 350 437 24.9
Total Assets Rs m 17,469 16,974 -2.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ATLANTA LTD Cash Flow Statement Analysis

  • ATLANTA LTD's cash flow from operating activities (CFO) during FY18 stood at Rs -186 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -158 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 349 million, an improvement of 1,487% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 5 million from the Rs -40 million net cash flows seen during FY17.

ATLANTA LTD 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 1,013 -186 -
Cash Flow from Investing Activities Rs m -1,028 -158 -
Cash Flow from Financing Activities Rs m -25 349 -
Net Cash Flow Rs m -40 5 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for ATLANTA LTD

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -7.7, an decline from the EPS of Rs 3.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 16.4, stands at -2.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.1 times, while the price to sales ratio stands at 4.4 times.
  • The company's price to cash flow (P/CF) ratio stood at -4.6 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 32.3 23.3
TTM Earnings per share Rs 3.7 -7.7
Diluted earnings per share Rs 3.7 -7.7
Price to Cash Flow x 1.6 -4.6
TTM P/E ratio x -2.7 -2.7
Price / Book Value ratio x 0.7 2.1
Market Cap Rs m 1,337 1,337
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 ATLANTA LTD

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.8x during FY18, from 0.5x 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 0.4x during FY18, from 2.3x 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 -16.0% during FY18, from 4.0% 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 0.0% during FY18, from 5.6% 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 declined and down at 0.7% during FY18, from 4.0% 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 0.5 0.8
Debtors’ Days Days 160 341
Interest coverage x 2.3 0.4
Debt to equity ratio x 1.2 2.2
Return on assets % 4.0 0.7
Return on equity % 4.0 -16.0
Return on capital employed % 5.6 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how ATLANTA LTD has performed over the last 5 years, please visit here.

ATLANTA LTD Share Price Performance

Over the last one year, ATLANTA LTD share price has moved up from Rs 93.8 to Rs 16.4, registering a loss of Rs 77.4 or around 82.5%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,780.7 (up 0.2%). Over the last one year it has moved down from 2,468.3 to 1,780.7, a loss of 688 points (down 27.9%).

Overall, the S&P BSE SENSEX is up 4.9% over the year.

(To know more, check out historical annual results for ATLANTA LTD and quarterly results for ATLANTA LTD)

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