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BALAJI TELEFILMS 2017-18 Annual Report Analysis

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BALAJI TELEFILMS 2017-18 Annual Report Analysis
Tue, 1 Jan

BALAJI TELEFILMS 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.

BALAJI TELEFILMS Income Statement Analysis

  • Operating income during the year fell 1.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 151.7% YoY during the fiscal. Operating profit margins witnessed a growth and stood at 12.5% in FY18 as against 4.9% in FY17.
  • Depreciation charges increased by 41.2% and finance costs increased by 25.0% YoY, respectively.
  • Other income declined by 6.2% YoY.
  • Net profit for the year grew by 55.8% YoY.
  • Net profit margins during the year declined from 6.8% in FY17 to 10.7% in FY18.

BALAJI TELEFILMS Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 4,187 4,133 -1.3%
Other income Rs m 203 190 -6.2%
Total Revenues Rs m 4,389 4,323 -1.5%
Gross profit Rs m -206 -518 151.7%
Depreciation Rs m 125 177 41.2%
Interest Rs m 0 1 25.0%
Profit before tax Rs m -129 -505 292.2%
Tax Rs m 169 -132 -178.5%
Profit after tax Rs m -297 -463 55.8%
Gross profit margin % -4.9 -12.5
Effective tax rate % -130.9 26.2
Net profit margin % -6.8 -10.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BALAJI TELEFILMS Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 993 million as compared to Rs 1 billion in FY17, thereby witnessing an decrease of -19.8%.
  • Long-term debt stood at Rs 1 million as compared to Rs 1 million during FY17, a growth of 33.3%.
  • Current assets rose 64% and stood at Rs 8 billion, while fixed assets fell 6% and stood at Rs 440 million in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 9 billion as against Rs 6 billion during FY17, thereby witnessing a growth of 49%.

BALAJI TELEFILMS Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 5,068 8,529 68.3
 
Current Liabilities Rs m 1,239 993 -19.8
Long-term Debt Rs m 1 1 33.3
Total Liabilities Rs m 6,353 9,492 49.4
 
Current assets Rs m 4,623 7,604 64.5
Fixed Assets Rs m 469 440 -6.2
Total Assets Rs m 6,353 9,492 49.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BALAJI TELEFILMS Cash Flow Statement Analysis

  • BALAJI TELEFILMS's cash flow from operating activities (CFO) during FY18 stood at Rs -1 billion, an improvement of 713.2% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 4 billion, an improvement of 0% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 122 million from the Rs -10 million net cash flows seen during FY17.

BALAJI TELEFILMS 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 -128 -1,038 -
Cash Flow from Investing Activities Rs m 118 -2,753 -
Cash Flow from Financing Activities Rs m 0 3,913 0.0%
Net Cash Flow Rs m -10 122 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for BALAJI TELEFILMS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -4.6, an decline from the EPS of Rs -3.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 89.8, stands at -9.0 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.8 times, while the price to sales ratio stands at 3.7 times.
  • The company's price to cash flow (P/CF) ratio stood at -31.7 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 55.1 40.9
TTM Earnings per share Rs -3.9 -4.6
Diluted earnings per share Rs -2.9 -4.6
Price to Cash Flow x -39.6 -31.7
TTM P/E ratio x -6.7 -9.0
Price / Book Value ratio x 1.5 1.8
Market Cap Rs m 6,819 9,081
Dividends per share (Unadj.) Rs 0.4 0.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for BALAJI TELEFILMS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 7.7x during FY18, from 3.7x 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 -1,009.2x during FY18, from -321.0x 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 improved and stood at -5.4% during FY18, from -5.9% 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 -7.0% during FY18, from -2.5% 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 -4.9% during FY18, from -4.7% 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 3.7 7.7
Debtors’ Days Days 85 83
Interest coverage x -321.0 -1,009.2
Debt to equity ratio x 0.0 0.0
Return on assets % -4.7 -4.9
Return on equity % -5.9 -5.4
Return on capital employed % -2.5 -7.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how BALAJI TELEFILMS has performed over the last 5 years, please visit here.

BALAJI TELEFILMS Share Price Performance

Over the last one year, BALAJI TELEFILMS share price has moved up from Rs 154.5 to Rs 89.8, registering a loss of Rs 64.7 or around 41.9%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,056.5 (down 0.1%). Over the last one year it has moved up from 6,408.2 to 7,056.5, a gain of 648 points (up 10.1%).

Overall, the S&P BSE SENSEX is up 6.3% over the year.

(To know more, check out historical annual results for BALAJI TELEFILMS and quarterly results for BALAJI TELEFILMS)

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BALAJI TELEFILMS Announces Quarterly Results (3QFY19); Net Profit Down 10.0% (Quarterly Result Update)

Feb 13, 2019 | Updated on Feb 13, 2019

For the quarter ended December 2018, BALAJI TELEFILMS has posted a net profit of Rs 273 m (down 10.0% YoY). Sales on the other hand came in at Rs 963 m (up 47.9% YoY). Read on for a complete analysis of BALAJI TELEFILMS's quarterly results.

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BALAJI TELEFILMS 2017-18 Annual Report Analysis (Annual Result Update)

Aug 20, 2018 | Updated on Aug 20, 2018

Here's an analysis of the annual report of BALAJI TELEFILMS for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of BALAJI TELEFILMS. Also includes updates on the valuation of BALAJI TELEFILMS.

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