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BANNARI AMMAN 2017-18 Annual Report Analysis

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BANNARI AMMAN 2017-18 Annual Report Analysis
Thu, 14 Mar

BANNARI AMMAN 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.

BANNARI AMMAN Income Statement Analysis

  • Operating income during the year fell 15.5% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 39.5% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 14.2% in FY18 as against 19.8% in FY17.
  • Depreciation charges increased by 0.2% and finance costs decreased by 65.2% YoY, respectively.
  • Other income declined by 2.6% YoY.
  • Net profit for the year declined by 39.9% YoY.
  • Net profit margins during the year declined from 8.3% in FY17 to 5.9% in FY18.

BANNARI AMMAN Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 17,518 14,808 -15.5%
Other income Rs m 57 56 -2.6%
Total Revenues Rs m 17,575 14,863 -15.4%
Gross profit Rs m 3,477 2,102 -39.5%
Depreciation Rs m 695 696 0.2%
Interest Rs m 971 338 -65.2%
Profit before tax Rs m 1,869 1,124 -39.9%
Tax Rs m 417 251 -39.8%
Profit after tax Rs m 1,452 873 -39.9%
Gross profit margin % 19.8 14.2
Effective tax rate % 22.3 22.3
Net profit margin % 8.3 5.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BANNARI AMMAN Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 4 billion as compared to Rs 8 billion in FY17, thereby witnessing an decrease of -45.4%.
  • Long-term debt down at Rs 2 billion as compared to Rs 4 billion during FY17, a fall of 51.4%.
  • Current assets fell 40% and stood at Rs 7 billion, while fixed assets fell 4% and stood at Rs 11 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 19 billion as against Rs 24 billion during FY17, thereby witnessing a fall of 20%.

BANNARI AMMAN Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 10,671 11,356 6.4
 
Current Liabilities Rs m 7,808 4,261 -45.4
Long-term Debt Rs m 4,444 2,158 -51.4
Total Liabilities Rs m 24,019 19,131 -20.4
 
Current assets Rs m 11,185 6,683 -40.2
Fixed Assets Rs m 11,373 10,862 -4.5
Total Assets Rs m 24,019 19,131 -20.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BANNARI AMMAN Cash Flow Statement Analysis

  • BANNARI AMMAN's cash flow from operating activities (CFO) during FY18 stood at Rs 6 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -157 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -6 billion, an improvement of 8% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -54 million from the Rs -113 million net cash flows seen during FY17.

BANNARI AMMAN 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 6,447 5,632 -12.6%
Cash Flow from Investing Activities Rs m -524 -157 -
Cash Flow from Financing Activities Rs m -6,036 -5,529 -
Net Cash Flow Rs m -113 -54 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for BANNARI AMMAN

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 69.6, an decline from the EPS of Rs 115.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,605.0, stands at 34.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.3 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 1,397.0 1,180.8
TTM Earnings per share Rs 115.8 69.6
Diluted earnings per share Rs 115.8 69.6
Price to Cash Flow x 9.4 12.8
TTM P/E ratio x 34.8 34.8
Price / Book Value ratio x 2.2 2.3
Market Cap Rs m 20,127 20,127
Dividends per share (Unadj.) Rs 12.5 10.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for BANNARI AMMAN

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.6x during FY18, from 1.4x 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 4.3x during FY18, from 2.9x 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 7.7% during FY18, from 13.6% 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 10.8% during FY18, from 18.8% 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 declined and down at 6.3% during FY18, from 10.1% 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 1.4 1.6
Debtors’ Days Days 24 17
Interest coverage x 2.9 4.3
Debt to equity ratio x 0.4 0.2
Return on assets % 10.1 6.3
Return on equity % 13.6 7.7
Return on capital employed % 18.8 10.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how BANNARI AMMAN has performed over the last 5 years, please visit here.

BANNARI AMMAN Share Price Performance

Over the last one year, BANNARI AMMAN share price has moved up from Rs 1,615.0 to Rs 1,605.0, registering a loss of Rs 10.0 or around 0.6%.

Overall, the S&P BSE SENSEX is up 11.7% over the year.

(To know more, check out historical annual results for BANNARI AMMAN and quarterly results for BANNARI AMMAN)

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Related Views on News

BANNARI AMMAN Announces Quarterly Results (1QFY19); Net Profit Down 44.9% (Quarterly Result Update)

Aug 13, 2018 | Updated on Aug 13, 2018

For the quarter ended June 2018, BANNARI AMMAN has posted a net profit of Rs 30 m (down 44.9% YoY). Sales on the other hand came in at Rs 2 bn (down 33.4% YoY). Read on for a complete analysis of BANNARI AMMAN's quarterly results.

BANNARI AMMAN Announces Quarterly Results (4QFY18); Net Profit Down 86.7% (Quarterly Result Update)

Jul 20, 2018 | Updated on Jul 20, 2018

For the quarter ended March 2018, BANNARI AMMAN has posted a net profit of Rs 39 m (down 86.7% YoY). Sales on the other hand came in at Rs 2 bn (down 50.8% YoY). Read on for a complete analysis of BANNARI AMMAN's quarterly results.

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