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INEOS STYROLUTION INDIA 2020-21 Annual Report Analysis
Wed, 31 Mar

INEOS STYROLUTION INDIA has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

INEOS STYROLUTION INDIA Income Statement Analysis

  • Operating income during the year rose 3.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 1421.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 25.4% in FY21 as against 1.7% in FY20.
  • Depreciation charges increased by 14.1% and finance costs decreased by 7.9% YoY, respectively.
  • Other income grew by 92.4% YoY.
  • Net profit for the year declined by 3042.5% YoY.
  • Net profit margins during the year grew from 0.6% in FY20 to 17.2% in FY21.

INEOS STYROLUTION INDIA Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 15,790 16,315 3.3%
Other income Rs m 68 131 92.4%
Total Revenues Rs m 15,858 16,445 3.7%
Gross profit Rs m 272 4,137 1,421.9%
Depreciation Rs m 316 360 14.1%
Interest Rs m 159 146 -7.9%
Profit before tax Rs m -135 3,761 -2,886.1%
Tax Rs m -40 959 -2,510.9%
Profit after tax Rs m -95 2,802 -3,042.5%
Gross profit margin % 1.7 25.4
Effective tax rate % 29.5 25.5
Net profit margin % -0.6 17.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Read Now: We're Bullish on 2 Non-Nifty Stocks

INEOS STYROLUTION INDIA Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 3 billion as compared to Rs 3 billion in FY20, thereby witnessing an increase of 3.7%.
  • Long-term debt down at Rs 332 million as compared to Rs 630 million during FY20, a fall of 47.3%.
  • Current assets rose 72% and stood at Rs 9 billion, while fixed assets fell 23% and stood at Rs 4 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 13 billion as against Rs 11 billion during FY20, thereby witnessing a growth of 24%.

INEOS STYROLUTION INDIA Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 6,093 8,888 45.9
 
Current Liabilities Rs m 2,941 3,050 3.7
Long-term Debt Rs m 630 332 -47.3
Total Liabilities Rs m 10,552 13,134 24.5
 
Current assets Rs m 5,258 9,041 71.9
Fixed Assets Rs m 5,294 4,092 -22.7
Total Assets Rs m 10,552 13,134 24.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



INEOS STYROLUTION INDIA Cash Flow Statement Analysis

  • INEOS STYROLUTION INDIA's cash flow from operating activities (CFO) during FY21 stood at Rs 3 billion, an improvement of 69.8% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -91 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -1 billion on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 1 billion from the Rs -422 million net cash flows seen during FY20.

INEOS STYROLUTION INDIA Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Mar-20 Mar-21
Cash Flow from Operating Activities Rs m 1,659 2,815 69.8%
Cash Flow from Investing Activities Rs m -836 -91 -
Cash Flow from Financing Activities Rs m -1,245 -1,367 -
Net Cash Flow Rs m -422 1,357 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for INEOS STYROLUTION INDIA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 159.3, an improvement from the EPS of Rs -5.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 935.8, stands at 5.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.9 times, while the price to sales ratio stands at 1.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 4.4 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Sales per share (Unadj.) Rs 897.7 927.5
TTM Earnings per share Rs -5.4 159.3
Diluted earnings per share Rs -5.4 159.3
Price to Cash Flow x 41.0 4.4
TTM P/E ratio x -94.9 5.9
Price / Book Value ratio x 1.7 1.6
Market Cap Rs m 10,278 14,056
Dividends per share (Unadj.) Rs 0.0 10.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for INEOS STYROLUTION INDIA

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 3.0x during FY21, from 1.8x during FY20. 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 26.7x during FY21, from 0.2x during FY20. 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 31.5% during FY21, from -1.6% during FY21. 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 42.4% during FY21, from 0.4% during FY20. 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 22.5% during FY21, from 0.6% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Current ratio x 1.8 3.0
Debtors’ Days Days 398 685
Interest coverage x 0.2 26.7
Debt to equity ratio x 0.1 0.0
Return on assets % 0.6 22.5
Return on equity % -1.6 31.5
Return on capital employed % 0.4 42.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how INEOS STYROLUTION INDIA has performed over the last 5 years, please visit here.

INEOS STYROLUTION INDIA Share Price Performance

Over the last one year, INEOS STYROLUTION INDIA share price has moved up from Rs 513.7 to Rs 935.8, registering a gain of Rs 422.2 or around 82.2%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 14,820.5 (down 0.1%). Over the last one year it has moved up from 10,020.9 to 14,820.5, a gain of 4,800 points (up 47.9%).

Overall, the S&P BSE SENSEX is up 74.1% over the year.

(To know more, check out historical annual results for INEOS STYROLUTION INDIA and quarterly results for INEOS STYROLUTION INDIA)

Annual Report FAQs

What is the current share price of INEOS STYROLUTION INDIA?

INEOS STYROLUTION INDIA currently trades at Rs 1,434.6 per share. You can check out the latest share price performance of INEOS STYROLUTION INDIA here...

What was the revenue of INEOS STYROLUTION INDIA in FY21? How does it compare to earlier years?

The revenues of INEOS STYROLUTION INDIA stood at Rs 16,445 m in FY21, which was up 3.7% compared to Rs 15,858 m reported in FY20.

INEOS STYROLUTION INDIA's revenue has grown from Rs 12,996 m in FY17 to Rs 16,445 m in FY21.

Over the past 5 years, the revenue of INEOS STYROLUTION INDIA has grown at a CAGR of 6.1%.

What was the net profit of INEOS STYROLUTION INDIA in FY21? How does it compare to earlier years?

The net profit of INEOS STYROLUTION INDIA stood at Rs 2,802 m in FY21, which was down -3,042.5% compared to Rs -95 m reported in FY20.

This compares to a net loss of Rs -125 m in FY19 and a net profit of Rs 662 m in FY18.

Over the past 5 years, INEOS STYROLUTION INDIA net profit has grown at a CAGR of 41.8%.

What does the cash flow statement of INEOS STYROLUTION INDIA reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of INEOS STYROLUTION INDIA reveals:

  • Cash flow from operations increased in FY21 and stood at Rs 2,815 m as compared to Rs 1,659 m in FY20.
  • Cash flow from investments increased in FY21 and stood at Rs -91 m as compared to Rs -836 m in FY20.
  • Cash flow from financial activity decreased in FY21 and stood at Rs -1,367 m as compared to Rs -1,245 m in FY20.

Here's the cash flow statement of INEOS STYROLUTION INDIA for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations-1561,730-3601,6592,815
From Investments-151-212-935-836-91
From Financial Activity219-1,2751,348-1,245-1,367
Net Cashflow-8724353-4221,357

What does the Key Ratio analysis of INEOS STYROLUTION INDIA reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of INEOS STYROLUTION INDIA reveals:

  • Operating profit margins witnessed a fall and down at 25.4% in FY21 as against 1.7% in FY20.
  • Net profit margins grew from 0.6% in FY20 to 17.2% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.0 as compared to 0.1 in FY20.

Here's the ratio/financial analysis of INEOS STYROLUTION INDIA for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)10.47.40.41.725.4
Net Profit Margin (%)5.33.6-0.6-0.617.2
Debt to Equity Ratio (x)0.00.00.10.10.0

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