Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  


BF UTILITIES 2020-21 Annual Report Analysis
Wed, 31 Mar

BF UTILITIES 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.

BF UTILITIES Income Statement Analysis

  • Operating income during the year fell 30.8% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 15.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 61.7% in FY21 as against 50.7% in FY20.
  • Depreciation charges increased by 6.6% and finance costs increased by 0.8% YoY, respectively.
  • Other income declined by 20.5% YoY.
  • Net profit for the year declined by 180.8% YoY.
  • Net profit margins during the year declined from 5.1% in FY20 to 6.0% in FY21.

BF UTILITIES Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 5,352 3,705 -30.8%
Other income Rs m 294 234 -20.5%
Total Revenues Rs m 5,646 3,939 -30.2%
Gross profit Rs m 2,713 2,286 -15.7%
Depreciation Rs m 531 567 6.6%
Interest Rs m 2,138 2,154 0.8%
Profit before tax Rs m 338 -201 -159.3%
Tax Rs m 65 20 -68.6%
Profit after tax Rs m 274 -221 -180.8%
Gross profit margin % 50.7 61.7
Effective tax rate % 19.2 -10.2
Net profit margin % 5.1 -6.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

BF UTILITIES Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 4 billion as compared to Rs 3 billion in FY20, thereby witnessing an increase of 8.9%.
  • Long-term debt down at Rs 16 billion as compared to Rs 16 billion during FY20, a fall of 1.1%.
  • Current assets rose 6% and stood at Rs 6 billion, while fixed assets fell 3% and stood at Rs 16 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 22 billion as against Rs 22 billion during FY20, thereby witnessing a fall of 1%.

BF UTILITIES Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m -2,213 -2,233 0.9
 
Current Liabilities Rs m 3,221 3,509 8.9
Long-term Debt Rs m 16,200 16,024 -1.1
Total Liabilities Rs m 21,707 21,558 -0.7
 
Current assets Rs m 5,187 5,524 6.5
Fixed Assets Rs m 16,520 16,034 -2.9
Total Assets Rs m 21,707 21,558 -0.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



BF UTILITIES Cash Flow Statement Analysis

  • BF UTILITIES's cash flow from operating activities (CFO) during FY21 stood at Rs 2 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -74 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -2 billion, an improvement of 16% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -24 million from the Rs 54 million net cash flows seen during FY20.

BF UTILITIES 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 3,106 1,907 -38.6%
Cash Flow from Investing Activities Rs m -831 -74 -
Cash Flow from Financing Activities Rs m -2,221 -1,856 -
Net Cash Flow Rs m 54 -24 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for BF UTILITIES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -5.9, an decline from the EPS of Rs 7.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 246.3, stands at -42.0 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at -4.2 times, while the price to sales ratio stands at 2.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 24.7 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 142.1 98.4
TTM Earnings per share Rs 7.3 -5.9
Diluted earnings per share Rs 7.3 -5.9
Price to Cash Flow x 6.7 24.7
TTM P/E ratio x 19.8 -42.0
Price / Book Value ratio x -4.2 -3.8
Market Cap Rs m 9,329 8,535
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for BF UTILITIES

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.6x during FY21, from 1.6x 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 deteriorated and stood at 0.9x during FY21, from 1.2x 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 9.9% during FY21, from -12.4% 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 declined and down at 14.2% during FY21, from 17.7% 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 declined and down at 9.0% during FY21, from 11.1% 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 1.6 1.6
Debtors’ Days Days 0 0
Interest coverage x 1.2 0.9
Debt to equity ratio x -7.3 -7.2
Return on assets % 11.1 9.0
Return on equity % -12.4 9.9
Return on capital employed % 17.7 14.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how BF UTILITIES has performed over the last 5 years, please visit here.

BF UTILITIES Share Price Performance

Over the last one year, BF UTILITIES share price has moved up from Rs 144.0 to Rs 246.3, registering a gain of Rs 102.3 or around 71.1%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 2,475.1 (down 1.4%). Over the last one year it has moved up from 1,378.0 to 2,475.1, a gain of 1,097 points (up 79.6%).

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

(To know more, check out historical annual results for BF UTILITIES and quarterly results for BF UTILITIES)

Annual Report FAQs

What is the current share price of BF UTILITIES?

BF UTILITIES currently trades at Rs 770.7 per share. You can check out the latest share price performance of BF UTILITIES here...

What was the revenue of BF UTILITIES in FY21? How does it compare to earlier years?

The revenues of BF UTILITIES stood at Rs 3,939 m in FY21, which was down -30.2% compared to Rs 5,646 m reported in FY20.

BF UTILITIES' revenue has grown from Rs 3,447 m in FY17 to Rs 3,939 m in FY21.

Over the past 5 years, the revenue of BF UTILITIES has grown at a CAGR of 3.4%.

What was the net profit of BF UTILITIES in FY21? How does it compare to earlier years?

The net loss of BF UTILITIES stood at Rs -221 m in FY21, which was down -180.8% compared to Rs 274 m reported in FY20.

This compares to a net profit of Rs 720 m in FY19 and a net profit of Rs 360 m in FY18.

Over the past 5 years, BF UTILITIES net profit has grown at a CAGR of -6.8%.

What does the cash flow statement of BF UTILITIES 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 BF UTILITIES reveals:

  • Cash flow from operations decreased in FY21 and stood at Rs 1,907 m as compared to Rs 3,106 m in FY20.
  • Cash flow from investments increased in FY21 and stood at Rs -74 m as compared to Rs -831 m in FY20.
  • Cash flow from financial activity increased in FY21 and stood at Rs -1,856 m as compared to Rs -2,221 m in FY20.

Here's the cash flow statement of BF UTILITIES for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations2,5382,8134,0483,1061,907
From Investments123-243-1,581-831-74
From Financial Activity-2,589-2,650-2,491-2,221-1,856
Net Cashflow73-80-2454-24

What does the Key Ratio analysis of BF UTILITIES 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 BF UTILITIES reveals:

  • Operating profit margins witnessed a fall and down at 61.7% in FY21 as against 50.7% in FY20.
  • Net profit margins declined from 5.1% in FY20 to 6.0% in FY21.
  • Debt to Equity ratio for FY21 stood at -7.2 as compared to -7.3 in FY20.

Here's the ratio/financial analysis of BF UTILITIES for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)74.575.170.450.761.7
Net Profit Margin (%)-8.79.016.15.1-6.0
Debt to Equity Ratio (x)-5.3-5.4-6.3-7.3-7.2

Read: Latest Annual Report Analysis of BF UTILITIES

 

Equitymaster requests your view! Post a comment on "BF UTILITIES 2020-21 Annual Report Analysis". Click here!