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BGR ENERGY 2020-21 Annual Report Analysis
Wed, 31 Mar

BGR ENERGY 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.

BGR ENERGY Income Statement Analysis

  • Operating income during the year fell 57.7% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 185.1% YoY during the fiscal. Operating profit margins witnessed a growth and stood at 18.8% in FY21 as against 9.3% in FY20.
  • Depreciation charges decreased by 12.4% and finance costs decreased by 4.6% YoY, respectively.
  • Other income declined by 43.2% YoY.
  • Net profit for the year grew by 4357.2% YoY.
  • Net profit margins during the year declined from 0.4% in FY20 to 37.4% in FY21.

BGR ENERGY Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 26,920 11,397 -57.7%
Other income Rs m 483 275 -43.2%
Total Revenues Rs m 27,403 11,672 -57.4%
Gross profit Rs m 2,513 -2,139 -185.1%
Depreciation Rs m 349 305 -12.4%
Interest Rs m 3,445 3,287 -4.6%
Profit before tax Rs m -797 -5,457 584.6%
Tax Rs m -701 -1,191 69.8%
Profit after tax Rs m -96 -4,266 4,357.2%
Gross profit margin % 9.3 -18.8
Effective tax rate % 88.0 21.8
Net profit margin % -0.4 -37.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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BGR ENERGY Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 44 billion as compared to Rs 47 billion in FY20, thereby witnessing an decrease of -7.1%.
  • Current assets fell 5% and stood at Rs 43 billion, while fixed assets fell 36% and stood at Rs 11 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 54 billion as against Rs 62 billion during FY20, thereby witnessing a fall of 14%.

BGR ENERGY Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 11,789 7,749 -34.3
 
Current Liabilities Rs m 46,913 43,589 -7.1
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 62,452 53,948 -13.6
 
Current assets Rs m 45,712 43,296 -5.3
Fixed Assets Rs m 16,739 10,652 -36.4
Total Assets Rs m 62,452 53,948 -13.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



BGR ENERGY Cash Flow Statement Analysis

  • BGR ENERGY's cash flow from operating activities (CFO) during FY21 stood at Rs 5 billion, an improvement of 27.0% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -8 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -5 billion on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 99 million from the Rs -14 million net cash flows seen during FY20.

BGR ENERGY 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 3,696 4,694 27.0%
Cash Flow from Investing Activities Rs m 418 -8 -
Cash Flow from Financing Activities Rs m -4,128 -4,587 -
Net Cash Flow Rs m -14 99 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for BGR ENERGY

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -59.1, an decline from the EPS of Rs -1.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 43.5, stands at -0.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.4 times, while the price to sales ratio stands at 0.3 times.
  • The company's price to cash flow (P/CF) ratio stood at -0.8 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 373.1 157.9
TTM Earnings per share Rs -1.3 -59.1
Diluted earnings per share Rs -1.3 -59.1
Price to Cash Flow x 6.0 -0.8
TTM P/E ratio x -15.8 -0.7
Price / Book Value ratio x 0.3 0.4
Market Cap Rs m 3,009 3,096
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for BGR ENERGY

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.0x during FY21, from 1.0x 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 -0.7x during FY21, from 0.8x 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 declined and down at -55.0% during FY21, from -0.8% 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 -28.0% during FY21, from 22.5% 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 -1.8% during FY21, from 5.4% 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 1.0 1.0
Debtors’ Days Days 1,194 2,586
Interest coverage x 0.8 -0.7
Debt to equity ratio x 0.0 0.0
Return on assets % 5.4 -1.8
Return on equity % -0.8 -55.0
Return on capital employed % 22.5 -28.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how BGR ENERGY has performed over the last 5 years, please visit here.

BGR ENERGY Share Price Performance

Over the last one year, BGR ENERGY share price has moved up from Rs 21.0 to Rs 43.5, registering a gain of Rs 22.5 or around 107.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 21,095.8 (down 0.4%). Over the last one year it has moved up from 10,979.5 to 21,095.8, a gain of 10,116 points (up 92.1%).

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

(To know more, check out historical annual results for BGR ENERGY and quarterly results for BGR ENERGY)

Annual Report FAQs

What is the current share price of BGR ENERGY?

BGR ENERGY currently trades at Rs 77.7 per share. You can check out the latest share price performance of BGR ENERGY here...

What was the revenue of BGR ENERGY in FY21? How does it compare to earlier years?

The revenues of BGR ENERGY stood at Rs 11,672 m in FY21, which was down -57.4% compared to Rs 27,403 m reported in FY20.

BGR ENERGY's revenue has fallen from Rs 34,313 m in FY17 to Rs 11,672 m in FY21.

Over the past 5 years, the revenue of BGR ENERGY has grown at a CAGR of -23.6%.

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

The net loss of BGR ENERGY stood at Rs -4,266 m in FY21, which was up 4,357.2% compared to Rs -96 m reported in FY20.

This compares to a net profit of Rs 151 m in FY19 and a net profit of Rs 55 m in FY18.

Over the past 5 years, BGR ENERGY net profit has grown at a CAGR of NaN%.

What does the cash flow statement of BGR ENERGY 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 BGR ENERGY reveals:

  • Cash flow from operations increased in FY21 and stood at Rs 4,694 m as compared to Rs 3,696 m in FY20.
  • Cash flow from investments decreased in FY21 and stood at Rs -8 m as compared to Rs 418 m in FY20.
  • Cash flow from financial activity decreased in FY21 and stood at Rs -4,587 m as compared to Rs -4,128 m in FY20.

Here's the cash flow statement of BGR ENERGY for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations5,4492382,5023,6964,694
From Investments-180-309-254418-8
From Financial Activity-5,341-907-2,316-4,128-4,587
Net Cashflow-73-978-67-1499

What does the Key Ratio analysis of BGR ENERGY 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 BGR ENERGY reveals:

  • Operating profit margins witnessed a growth and stood at 18.8% in FY21 as against 9.3% in FY20.
  • Net profit margins declined from 0.4% in FY20 to 37.4% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.0 as compared to 0.0 in FY20.

Here's the ratio/financial analysis of BGR ENERGY for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)13.611.711.29.3-18.8
Net Profit Margin (%)2.50.20.5-0.4-37.4
Debt to Equity Ratio (x)0.20.10.00.00.0

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