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?  

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 (1QFY20); Net Profit Up 2.7% (Quarterly Result Update)

Jul 29, 2019 | Updated on Jul 29, 2019

For the quarter ended June 2019, AUTO CORP. OF GOA has posted a net profit of Rs 66 m (up 2.7% YoY). Sales on the other hand came in at Rs 1 bn (down 3.4% YoY). Read on for a complete analysis of AUTO CORP. OF GOA's quarterly results.

AUTO CORP. OF GOA Announces Quarterly Results (4QFY19); Net Profit Up 133.6% (Quarterly Result Update)

May 15, 2019 | Updated on May 15, 2019

For the quarter ended March 2019, AUTO CORP. OF GOA has posted a net profit of Rs 37 m (up 133.6% YoY). Sales on the other hand came in at Rs 1 bn (down 4.1% YoY). Read on for a complete analysis of AUTO CORP. OF GOA's quarterly results.

Sandhar Technologies IPO: Worth Betting on This Automotive Component Manufacturer? (IPO)

Mar 17, 2018

Should you subscribe to the IPO of Sandhar Technologies Ltd?

More Views on News

Most Popular

My 3 Best Small-cap Stocks to Get Rich in this Market Rebound(Profit Hunter)

Oct 14, 2019

This is once in a decade opportunity to make a killing from smallcap rebound.

Finally, Is the Share Price of Yes Bank Ready for a Rebound?(The 5 Minute Wrapup)

Oct 7, 2019

Here's what every individual investor must know about Yes Bank...

Two Stocks to Buy in the Great Indian Festival(Profit Hunter)

Oct 11, 2019

Discounts are not just limited to E-tailers. You can buy stocks at 50% off too. Here are two stocks to buy now.

The One Stock I Like in this Market(The 5 Minute Wrapup)

Oct 10, 2019

There are rare periods in markets when you get good quality stocks at attractive valuations. Is this one such period?

5 Smart Money Stocks to Profit from the Market Rebound(The 5 Minute Wrapup)

Oct 11, 2019

Now is the time to put money in these 5 stocks to take advantage of the recovery in the economy and the markets.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2020
Get our special report, How to Beat Sensex Nearly 3X 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 8-QTR ANALYSIS

COMPARE AUTO CORP. OF GOA WITH

MARKET STATS