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BALAJI AMINES 2020-21 Annual Report Analysis
Wed, 31 Mar

BALAJI AMINES 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.

BALAJI AMINES Income Statement Analysis

  • Operating income during the year rose 40.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 107.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 28.1% in FY21 as against 19.0% in FY20.
  • Depreciation charges increased by 8.8% and finance costs decreased by 20.6% YoY, respectively.
  • Other income grew by 37.3% YoY.
  • Net profit for the year grew by 149.8% YoY.
  • Net profit margins during the year grew from 10.4% in FY20 to 18.6% in FY21.

BALAJI AMINES Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 9,358 13,115 40.1%
Other income Rs m 83 114 37.3%
Total Revenues Rs m 9,440 13,228 40.1%
Gross profit Rs m 1,775 3,679 107.3%
Depreciation Rs m 316 344 8.8%
Interest Rs m 230 183 -20.6%
Profit before tax Rs m 1,311 3,266 149.1%
Tax Rs m 336 831 147.1%
Profit after tax Rs m 975 2,435 149.8%
Gross profit margin % 19.0 28.1
Effective tax rate % 25.7 25.4
Net profit margin % 10.4 18.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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BALAJI AMINES Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 2 billion as compared to Rs 3 billion in FY20, thereby witnessing an decrease of -8.1%.
  • Long-term debt down at Rs 888 million as compared to Rs 1 billion during FY20, a fall of 25.9%.
  • Current assets rose 25% and stood at Rs 6 billion, while fixed assets rose 12% and stood at Rs 7 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 13 billion as against Rs 11 billion during FY20, thereby witnessing a growth of 18%.

BALAJI AMINES Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 6,581 8,944 35.9
 
Current Liabilities Rs m 2,643 2,428 -8.1
Long-term Debt Rs m 1,199 888 -25.9
Total Liabilities Rs m 11,131 13,103 17.7
 
Current assets Rs m 4,606 5,771 25.3
Fixed Assets Rs m 6,521 7,329 12.4
Total Assets Rs m 11,131 13,103 17.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



BALAJI AMINES Cash Flow Statement Analysis

  • BALAJI AMINES's cash flow from operating activities (CFO) during FY21 stood at Rs 1 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -616 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -375 million on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 108 million from the Rs -116 million net cash flows seen during FY20.

BALAJI AMINES 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 1,442 1,099 -23.8%
Cash Flow from Investing Activities Rs m -1,301 -616 -
Cash Flow from Financing Activities Rs m -257 -375 -
Net Cash Flow Rs m -116 108 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for BALAJI AMINES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 75.2, an improvement from the EPS of Rs 30.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,762.9, stands at 23.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 6.4 times, while the price to sales ratio stands at 4.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 12.5 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 288.8 404.8
TTM Earnings per share Rs 30.1 75.2
Diluted earnings per share Rs 30.1 75.2
Price to Cash Flow x 6.3 12.5
TTM P/E ratio x 8.3 23.5
Price / Book Value ratio x 1.8 3.9
Market Cap Rs m 12,039 34,786
Dividends per share (Unadj.) Rs 3.2 4.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for BALAJI AMINES

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.4x during FY21, from 1.7x 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 improved and stood at 18.9x during FY21, from 6.7x 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 27.2% during FY21, from 14.8% 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 improved and stood at 35.1% during FY21, from 19.8% 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 improved and stood at 20.0% during FY21, from 10.8% 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 1.7 2.4
Debtors’ Days Days 80,911,913 85,069,800
Interest coverage x 6.7 18.9
Debt to equity ratio x 0.2 0.1
Return on assets % 10.8 20.0
Return on equity % 14.8 27.2
Return on capital employed % 19.8 35.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

BALAJI AMINES Share Price Performance

Over the last one year, BALAJI AMINES share price has moved up from Rs 251.0 to Rs 1,762.9, registering a gain of Rs 1,511.9 or around 602.5%.

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

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

Annual Report FAQs

What is the current share price of BALAJI AMINES?

BALAJI AMINES currently trades at Rs 2,085.4 per share. You can check out the latest share price performance of BALAJI AMINES here...

What was the revenue of BALAJI AMINES in FY21? How does it compare to earlier years?

The revenues of BALAJI AMINES stood at Rs 13,228 m in FY21, which was up 40.1% compared to Rs 9,440 m reported in FY20.

BALAJI AMINES' revenue has grown from Rs 6,189 m in FY17 to Rs 13,228 m in FY21.

Over the past 5 years, the revenue of BALAJI AMINES has grown at a CAGR of 20.9%.

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

The net profit of BALAJI AMINES stood at Rs 2,435 m in FY21, which was up 149.8% compared to Rs 975 m reported in FY20.

This compares to a net profit of Rs 1,171 m in FY19 and a net profit of Rs 1,132 m in FY18.

Over the past 5 years, BALAJI AMINES net profit has grown at a CAGR of 31.1%.

What does the cash flow statement of BALAJI AMINES 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 BALAJI AMINES reveals:

  • Cash flow from operations decreased in FY21 and stood at Rs 1,099 m as compared to Rs 1,442 m in FY20.
  • Cash flow from investments increased in FY21 and stood at Rs -616 m as compared to Rs -1,301 m in FY20.
  • Cash flow from financial activity decreased in FY21 and stood at Rs -375 m as compared to Rs -257 m in FY20.

Here's the cash flow statement of BALAJI AMINES for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations6051,4009421,4421,099
From Investments-103-1,349-1,187-1,301-616
From Financial Activity-552156207-257-375
Net Cashflow-51207-38-116108

What does the Key Ratio analysis of BALAJI AMINES 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 BALAJI AMINES reveals:

  • Operating profit margins witnessed a fall and down at 28.1% in FY21 as against 19.0% in FY20.
  • Net profit margins grew from 10.4% in FY20 to 18.6% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.1 as compared to 0.2 in FY20.

Here's the ratio/financial analysis of BALAJI AMINES for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)24.521.520.319.028.1
Net Profit Margin (%)13.513.312.410.418.6
Debt to Equity Ratio (x)0.00.10.10.20.1

Read: Latest Annual Report Analysis of BALAJI AMINES

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