BAJAJ ELECTRICALS 2018-19 Annual Report Analysis

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

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Markets will remain closed on 6th April, 2020 on account of Mahavir Jayanti.

BAJAJ ELECTRICALS 2018-19 Annual Report Analysis
Mon, 30 Sep

BAJAJ ELECTRICALS has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

BAJAJ ELECTRICALS Income Statement Analysis

  • Operating income during the year rose 41.9% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 15.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 5.1% in FY19 as against 6.2% in FY18.
  • Depreciation charges increased by 29.5% and finance costs increased by 99.8% YoY, respectively.
  • Other income grew by 22.1% YoY.
  • Net profit for the year grew by 83.6% YoY.
  • Net profit margins during the year grew from 1.8% in FY18 to 2.3% in FY19.

BAJAJ ELECTRICALS Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 47,074 66,794 41.9%
Other income Rs m 532 650 22.1%
Total Revenues Rs m 47,606 67,444 41.7%
Gross profit Rs m 2,934 3,401 15.9%
Depreciation Rs m 339 439 29.5%
Interest Rs m 589 1,176 99.8%
Profit before tax Rs m 2,538 2,435 -4.1%
Tax Rs m 809 876 8.3%
Profit after tax Rs m 836 1,536 83.6%
Gross profit margin % 6.2 5.1
Effective tax rate % 31.9 36.0
Net profit margin % 1.8 2.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



One Stock Crorepati: The Biggest Money-Making Opportunity Available Right Now

BAJAJ ELECTRICALS Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 38 billion as compared to Rs 24 billion in FY18, thereby witnessing an increase of 56.5%.
  • Long-term debt stood at Rs 2 billion as compared to Rs 115 million during FY18, a growth of 1753.7%.
  • Current assets rose 49% and stood at Rs 40 billion, while fixed assets rose 25% and stood at Rs 4 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 52 billion as against Rs 35 billion during FY18, thereby witnessing a growth of 49%.

BAJAJ ELECTRICALS Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 9,363 10,559 12.8
 
Current Liabilities Rs m 24,390 38,180 56.5
Long-term Debt Rs m 115 2,126 1,753.7
Total Liabilities Rs m 34,659 51,790 49.4
 
Current assets Rs m 26,764 39,905 49.1
Fixed Assets Rs m 3,222 4,022 24.9
Total Assets Rs m 34,659 51,790 49.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BAJAJ ELECTRICALS Cash Flow Statement Analysis

  • BAJAJ ELECTRICALS's cash flow from operating activities (CFO) during FY19 stood at Rs -6 billion, an improvement of 503.2% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -1 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs 7 billion, an improvement of 1,023% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -106 million from the Rs -33 million net cash flows seen during FY18.

BAJAJ ELECTRICALS Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m -1,029 -6,205 -
Cash Flow from Investing Activities Rs m 361 -1,040 -
Cash Flow from Financing Activities Rs m 635 7,132 1,022.8%
Net Cash Flow Rs m -33 -106 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for BAJAJ ELECTRICALS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 15.0, an improvement from the EPS of Rs 8.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 395.2, stands at 27.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 5.3 times, while the price to sales ratio stands at 0.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 19.9 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 461.3 652.3
TTM Earnings per share Rs 8.2 15.0
Diluted earnings per share Rs 8.3 15.3
Price to Cash Flow x 31.5 19.9
TTM P/E ratio x 28.0 27.6
Price / Book Value ratio x 5.1 5.3
Market Cap Rs m 40,321 39,792
Dividends per share (Unadj.) Rs 3.5 3.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for BAJAJ ELECTRICALS

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.0x during FY19, from 1.1x during FY18. 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 3.1x during FY19, from 5.3x during FY18. 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 14.5% during FY19, from 8.9% during FY19. 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 28.3% during FY19, from 23.6% during FY18. 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 5.2% during FY19, from 4.1% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 1.1 1.0
Debtors’ Days Days 136 143
Interest coverage x 5.3 3.1
Debt to equity ratio x 0.0 0.2
Return on assets % 4.1 5.2
Return on equity % 8.9 14.5
Return on capital employed % 23.6 28.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how BAJAJ ELECTRICALS has performed over the last 5 years, please visit here.

BAJAJ ELECTRICALS Share Price Performance

Over the last one year, BAJAJ ELECTRICALS share price has moved down from Rs 500.0 to Rs 395.2, registering a loss of Rs 104.8 or around 21.0%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 26,009.5 (down 0.5%). Over the last one year it has moved up from 19,134.3 to 26,009.5, a gain of 6,875 points (up 35.9%).

Overall, the S&P BSE SENSEX is up 6.0% over the year.

(To know more, check out historical annual results for BAJAJ ELECTRICALS and quarterly results for BAJAJ ELECTRICALS)

Equitymaster requests your view! Post a comment on "BAJAJ ELECTRICALS 2018-19 Annual Report Analysis". Click here!

  

Related Views on News

BAJAJ ELECTRICALS Announces Quarterly Results (1QFY20); Net Profit Down 57.1% (Quarterly Result Update)

Aug 13, 2019 | Updated on Aug 13, 2019

For the quarter ended June 2019, BAJAJ ELECTRICALS has posted a net profit of Rs 174 m (down 57.1% YoY). Sales on the other hand came in at Rs 13 bn (up 13.8% YoY). Read on for a complete analysis of BAJAJ ELECTRICALS's quarterly results.

BAJAJ ELECTRICALS Announces Quarterly Results (4QFY19); Net Profit Up 290.4% (Quarterly Result Update)

May 24, 2019 | Updated on May 24, 2019

For the quarter ended March 2019, BAJAJ ELECTRICALS has posted a net profit of Rs 285 m (up 290.4% YoY). Sales on the other hand came in at Rs 18 bn (up 10.4% YoY). Read on for a complete analysis of BAJAJ ELECTRICALS's quarterly results.

More Views on News

Most Popular

Sorry Warren Buffett, I'm Following This Man Instead of You in 2020(The 5 Minute Wrapup)

Mar 30, 2020

This man warned of an impending market correction while everyone else was celebrating the renewed optimism in early 2020...

The Biggest Trading Opportunity of 2020 is Here...

Mar 26, 2020

India's #1 trader, Vijay Bhambwani, talks about a hugely profitable trading opportunity which you must know about today!

A Big Trading Opportunity is Coming Your Way Soon(Fast Profits Daily)

Mar 25, 2020

I see a big opportunity to make fast profits on the horizon.

Coronavirus Sell-off Is a Perfect Time to 'Lockdown' this 'Crorepati' Stock(Profit Hunter)

Mar 24, 2020

Coronavirus crisis and panic selling has brought this quality smallcap to multiyear lows, making it a great bargain.

One Stock that is All Charged Up for the Post Coronavirus Rebound(The 5 Minute Wrapup)

Apr 1, 2020

A stock with strong moat is currently trading near 5-year lows.

More

How to Trade the
Coronavirus Crash

Coronavirus Crash
Get this special report, authored by Equitymaster's top analysts, now.
We will never sell or rent your email id.
Please read our Terms

TRACK BAJAJ ELECTRICALS

  • Track your investment in BAJAJ ELECTRICALS with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

MORE ON BAJAJ ELECTRICALS

BAJAJ ELECTRICALS 5-YR ANALYSIS

COMPARE BAJAJ ELECTRICALS WITH

MARKET STATS