AUTO CORP. OF GOA 2018-19 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.

AUTO CORP. OF GOA 2018-19 Annual Report Analysis
Thu, 6 Jun

AUTO CORP. OF GOA has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

AUTO CORP. OF GOA Income Statement Analysis

  • Operating income during the year fell 12.9% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 8.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 7.4% in FY19 as against 5.9% in FY18.
  • Depreciation charges decreased by 0.6% and finance costs decreased by 64.1% YoY, respectively.
  • Other income grew by 21.7% YoY.
  • Net profit for the year grew by 3.5% YoY.
  • Net profit margins during the year grew from 4.0% in FY18 to 4.8% in FY19.

AUTO CORP. OF GOA Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 4,894 4,262 -12.9%
Other income Rs m 82 100 21.7%
Total Revenues Rs m 4,976 4,362 -12.4%
Gross profit Rs m 288 313 8.8%
Depreciation Rs m 53 53 -0.6%
Interest Rs m 4 1 -64.1%
Profit before tax Rs m 313 359 14.7%
Tax Rs m 126 109 -13.9%
Profit after tax Rs m 202 209 3.5%
Gross profit margin % 5.9 7.4
Effective tax rate % 40.3 30.3
Net profit margin % 4.0 4.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



AUTO CORP. OF GOA Balance Sheet Analysis

  • The company's current liabilities during FY19 down at Rs 776 million as compared to Rs 945 million in FY18, thereby witnessing an decrease of -17.9%.
  • Current assets fell 3% and stood at Rs 2 billion, while fixed assets fell 6% and stood at Rs 675 million in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 3 billion as against Rs 3 billion during FY18, thereby witnessing a fall of 3%.

AUTO CORP. OF GOA Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 2,038 2,104 3.2
 
Current Liabilities Rs m 945 776 -17.9
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 3,106 2,999 -3.5
 
Current assets Rs m 2,388 2,323 -2.7
Fixed Assets Rs m 719 675 -6.0
Total Assets Rs m 3,106 2,999 -3.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



AUTO CORP. OF GOA Cash Flow Statement Analysis

  • AUTO CORP. OF GOA's cash flow from operating activities (CFO) during FY19 stood at Rs -47 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 259 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -196 million on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 0 million from the Rs 46 million net cash flows seen during FY18.

AUTO CORP. OF GOA Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 397 -47 -
Cash Flow from Investing Activities Rs m -294 259 -
Cash Flow from Financing Activities Rs m -102 -196 -
Net Cash Flow Rs m 46 0 -99.9%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for AUTO CORP. OF GOA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 32.5, an improvement from the EPS of Rs 31.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 518.7, stands at 16.0 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.9 times, while the price to sales ratio stands at 1.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 12.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 762.3 663.8
TTM Earnings per share Rs 31.4 32.5
Diluted earnings per share Rs 31.4 32.5
Price to Cash Flow x 13.1 12.7
TTM P/E ratio x 16.0 16.0
Price / Book Value ratio x 3.6 2.9
Market Cap Rs m 3,330 3,330
Dividends per share (Unadj.) Rs 17.5 17.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for AUTO CORP. OF GOA

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 3.0x during FY19, from 2.5x during FY18. 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 257.4x during FY19, from 81.3x during FY18. 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 9.9% during FY19, from 9.9% during FY19. 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 15.2% during FY19, from 16.3% during FY18. 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 7.0% during FY19, from 6.6% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 2.5 3.0
Debtors’ Days Days 43 58
Interest coverage x 81.3 257.4
Debt to equity ratio x 0.0 0.0
Return on assets % 6.6 7.0
Return on equity % 9.9 9.9
Return on capital employed % 16.3 15.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

AUTO CORP. OF GOA Share Price Performance

Over the last one year, AUTO CORP. OF GOA share price has moved up from Rs 846.4 to Rs 518.7, registering a loss of Rs 327.7 or around 38.7%.

Overall, the S&P BSE SENSEX is up 13.2% over the year.

(To know more, check out historical annual results for AUTO CORP. OF GOA and quarterly results for AUTO CORP. OF GOA)

Equitymaster requests your view! Post a comment on "AUTO CORP. OF GOA 2018-19 Annual Report Analysis". Click here!

  

Related Views on News

AUTO CORP. OF GOA Announces Quarterly Results (3QFY20); Net Profit Down 125.4% (Quarterly Result Update)

Jan 27, 2020 | Updated on Jan 27, 2020

For the quarter ended December 2019, AUTO CORP. OF GOA has posted a net profit of Rs 14 m (down 125.4% YoY). Sales on the other hand came in at Rs 536 m (down 40.2% YoY). Read on for a complete analysis of AUTO CORP. OF GOA's quarterly results.

AUTO CORP. OF GOA Announces Quarterly Results (2QFY20); Net Profit Down 2.0% (Quarterly Result Update)

Oct 25, 2019 | Updated on Oct 25, 2019

For the quarter ended September 2019, AUTO CORP. OF GOA has posted a net profit of Rs 51 m (down 2.0% YoY). Sales on the other hand came in at Rs 826 m (down 20.0% YoY). Read on for a complete analysis of AUTO CORP. OF GOA'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.

Lockdown! Now the Bailout...(The Honest Truth)

Mar 25, 2020

Ajit Dayal on what India should do to manage the coronavirus impact on the economy.

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 AUTO CORP. OF GOA

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

MORE ON AUTO CORP. OF GOA

AUTO CORP. OF GOA 5-YR ANALYSIS

COMPARE AUTO CORP. OF GOA WITH

MARKET STATS