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BARTRONICS INDIA 2017-18 Annual Report Analysis
Sat, 31 Mar

BARTRONICS INDIA 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.

BARTRONICS INDIA Income Statement Analysis

  • Operating income during the year fell 11.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 110.6% YoY during the fiscal. Operating profit margins witnessed a fall and down at 19.2% in FY18 as against 8.1% in FY17.
  • Depreciation charges decreased by 7.2% and finance costs increased by 1.0% YoY, respectively.
  • Other income grew by 957.8% YoY.
  • Net profit for the year declined by 18.0% YoY.
  • Net profit margins during the year grew from 61.8% in FY17 to 57.1% in FY18.

BARTRONICS INDIA Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 825 733 -11.2%
Other income Rs m 2 20 957.8%
Total Revenues Rs m 827 753 -9.0%
Gross profit Rs m 67 141 110.6%
Depreciation Rs m 64 59 -7.2%
Interest Rs m 519 524 1.0%
Profit before tax Rs m -514 -422 -17.9%
Tax Rs m -4 -4 -2.0%
Profit after tax Rs m -510 -418 -18.0%
Gross profit margin % 8.1 19.2
Effective tax rate % 0.8 0.9
Net profit margin % -61.8 -57.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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BARTRONICS INDIA Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 13 billion as compared to Rs 14 billion in FY17, thereby witnessing an decrease of -10.1%.
  • Current assets fell 13% and stood at Rs 11 billion, while fixed assets fell 2% and stood at Rs 4 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 15 billion as against Rs 16 billion during FY17, thereby witnessing a fall of 10%.

BARTRONICS INDIA Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 1,972 1,798 -8.8
 
Current Liabilities Rs m 14,478 13,023 -10.1
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 16,305 14,665 -10.1
 
Current assets Rs m 12,273 10,723 -12.6
Fixed Assets Rs m 4,032 3,942 -2.2
Total Assets Rs m 16,305 14,665 -10.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



BARTRONICS INDIA Cash Flow Statement Analysis

  • BARTRONICS INDIA's cash flow from operating activities (CFO) during FY18 stood at Rs -38 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 36 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 1 million, an improvement of 104% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -1 million from the Rs 9 million net cash flows seen during FY17.

BARTRONICS INDIA 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 36 -38 -
Cash Flow from Investing Activities Rs m -8 36 -
Cash Flow from Financing Activities Rs m -19 1 -
Net Cash Flow Rs m 9 -1 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for BARTRONICS INDIA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -12.3, an improvement from the EPS of Rs -15.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 9.6, stands at -0.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.2 times, while the price to sales ratio stands at 0.4 times.
  • The company's price to cash flow (P/CF) ratio stood at -1.4 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 24.2 21.5
TTM Earnings per share Rs -15.0 -12.3
Diluted earnings per share Rs -15.0 -12.3
Price to Cash Flow x -1.1 -1.4
TTM P/E ratio x -0.8 -0.8
Price / Book Value ratio x 0.3 0.3
Market Cap Rs m 562 489
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for BARTRONICS INDIA

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 0.8x during FY18, from 0.8x 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 0.2x during FY18, from 0.0x 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 -23.3% during FY18, from -25.9% 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 improved and stood at 5.7% during FY18, from 0.2% 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 improved and stood at 0.7% during FY18, from 0.1% 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 0.8 0.8
Debtors’ Days Days 50,753 44,687
Interest coverage x 0.0 0.2
Debt to equity ratio x 0.0 0.0
Return on assets % 0.1 0.7
Return on equity % -25.9 -23.3
Return on capital employed % 0.2 5.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

BARTRONICS INDIA Share Price Performance

Over the last one year, BARTRONICS INDIA share price has moved down from Rs 14.0 to Rs 9.6, registering a loss of Rs 4.5 or around 31.8%.

Meanwhile, the S&P BSE IT Index is trading at Rs 12,100.6 (down 0.3%). Over the last one year it has moved up from 10,365.5 to 12,100.6, a gain of 1,735 points (up 16.7%).

Overall, the S&P BSE SENSEX is up 12.1% over the year.

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

Annual Report FAQs

What is the current share price of BARTRONICS INDIA?

BARTRONICS INDIA currently trades at Rs 4.0 per share. You can check out the latest share price performance of BARTRONICS INDIA here...

What was the revenue of BARTRONICS INDIA in FY18? How does it compare to earlier years?

The revenues of BARTRONICS INDIA stood at Rs 753 m in FY18, which was down -9.0% compared to Rs 827 m reported in FY17.

BARTRONICS INDIA's revenue has fallen from Rs 1,853 m in FY16 to Rs 753 m in FY18.

Over the past 3 years, the revenue of BARTRONICS INDIA has grown at a CAGR of -36.2%.

What was the net profit of BARTRONICS INDIA in FY18? How does it compare to earlier years?

The net loss of BARTRONICS INDIA stood at Rs -418 m in FY18, which was down -18.0% compared to Rs -510 m reported in FY17.

This compares to a net loss of Rs -335 m in FY16.

Over the past 3 years, BARTRONICS INDIA net profit has grown at a CAGR of 11.8%.

What does the cash flow statement of BARTRONICS 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 BARTRONICS INDIA reveals:

  • Cash flow from operations decreased in FY18 and stood at Rs -38 m as compared to Rs 36 m in FY17.
  • Cash flow from investments increased in FY18 and stood at Rs 36 m as compared to Rs -8 m in FY17.
  • Cash flow from financial activity increased in FY18 and stood at Rs 1 m as compared to Rs -19 m in FY17.

Here's the cash flow statement of BARTRONICS INDIA for the past 3 years.

(Rs m)FY16FY17FY18
From Operations-7536-38
From Investments48-836
From Financial Activity38-191
Net Cashflow109-1

What does the Key Ratio analysis of BARTRONICS 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 BARTRONICS INDIA reveals:

  • Operating profit margins witnessed a fall and down at 19.2% in FY18 as against 8.1% in FY17.
  • Net profit margins grew from 61.8% in FY17 to 57.1% in FY18.
  • Debt to Equity ratio for FY18 stood at 0.0 as compared to 0.0 in FY17.

Here's the ratio/financial analysis of BARTRONICS INDIA for the past 3 years.

 FY16FY17FY18
Operating Profit Margin (%)-40.78.119.2
Net Profit Margin (%)-30.6-61.8-57.1
Debt to Equity Ratio (x)0.00.00.0

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