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BPL LIMITED 2021-22 Annual Report Analysis
Mon, 7 Nov

BPL LIMITED has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

BPL LIMITED Income Statement Analysis

  • Operating income during the year fell 12.7% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 96.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 0.2% in FY22 as against 5.2% in FY21.
  • Depreciation charges decreased by 0.6% and finance costs decreased by 22.0% YoY, respectively.
  • Other income grew by 914.8% YoY.
  • Net profit for the year declined by NA YoY.
  • Net profit margins during the year grew from 49.1% in FY21 to 33.9% in FY22.

BPL LIMITED Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 438 382 -12.7%
Other income Rs m 11 110 914.8%
Total Revenues Rs m 448 492 9.7%
Gross profit Rs m 23 1 -96.8%
Depreciation Rs m 17 17 -0.6%
Interest Rs m 22 17 -22.0%
Profit before tax Rs m -5 76 NA
Tax Rs m 209 -53 NA
Profit after tax Rs m -215 130 NA
Gross profit margin % 5.2 0.2
Effective tax rate % -3,831.3 -69.3
Net profit margin % -49.1 33.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

BPL LIMITED Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 2 billion as compared to Rs 2 billion in FY21, thereby witnessing an increase of 5.1%.
  • Long-term debt stood at Rs 208 million as compared to Rs 24 million during FY21, a growth of 750.6%.
  • Current assets fell 46% and stood at Rs 743 million, while fixed assets rose 125% and stood at Rs 4 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 5 billion as against Rs 3 billion during FY21, thereby witnessing a growth of 53%.

BPL LIMITED Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 1,487 1,659 11.5
 
Current Liabilities Rs m 2,021 2,125 5.1
Long-term Debt Rs m 24 208 750.6
Total Liabilities Rs m 3,268 5,014 53.5
 
Current assets Rs m 1,371 743 -45.8
Fixed Assets Rs m 1,897 4,272 125.2
Total Assets Rs m 3,268 5,014 53.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



BPL LIMITED Cash Flow Statement Analysis

  • BPL LIMITED's cash flow from operating activities (CFO) during FY22 stood at Rs -7 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs 36 million, an improvement of 1,012.9% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -39 million on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs -9 million from the Rs 3 million net cash flows seen during FY21.

BPL LIMITED Cash Flow Statement 2021-22

Particulars No. of months 12 12 % Change
Year Ending Mar-21 Mar-22
Cash Flow from Operating Activities Rs m 13 -7 -
Cash Flow from Investing Activities Rs m 3 36 1,012.9%
Cash Flow from Financing Activities Rs m -13 -39 -
Net Cash Flow Rs m 3 -9 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for BPL LIMITED

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 2.6, an improvement from the EPS of Rs -4.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 68.7, stands at 21.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.0 times, while the price to sales ratio stands at 8.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 33.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 9.0 7.8
TTM Earnings per share Rs -4.4 2.6
Diluted earnings per share Rs -4.4 2.6
Price to Cash Flow x -5.6 33.1
TTM P/E ratio x -54.6 21.8
Price / Book Value ratio x 0.7 2.9
Market Cap Rs m 997 4,845
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for BPL LIMITED

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 0.3x during FY22, from 0.7x during FY21. 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 5.4x during FY22, from 0.8x during FY21. 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 7.8% during FY22, from -14.4% during FY22. 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 5.0% during FY22, from 1.1% during FY21. 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 2.9% during FY22, from -5.9% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 0.7 0.3
Debtors’ Days Days 1,307 1,247
Interest coverage x 0.8 5.4
Debt to equity ratio x 0.0 0.1
Return on assets % -5.9 2.9
Return on equity % -14.4 7.8
Return on capital employed % 1.1 5.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how BPL LIMITED has performed over the last 5 years, please visit here.

BPL LIMITED Share Price Performance

Over the last one year, BPL LIMITED share price has moved down from Rs 83.1 to Rs 68.7, registering a loss of Rs 14.4 or around 17.3%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 42,399.5 (down 0.4%). Over the last one year it has moved down from 44,388.8 to 42,399.5, a loss of 1,989 points (down 4.5%).

Overall, the S&P BSE SENSEX is up 2.4% over the year.

(To know more, check out historical annual results for BPL LIMITED and quarterly results for BPL LIMITED)

Annual Report FAQs

What is the current share price of BPL LIMITED?

BPL LIMITED currently trades at Rs 87.8 per share. You can check out the latest share price performance of BPL LIMITED here...

What was the revenue of BPL LIMITED in FY22? How does it compare to earlier years?

The revenues of BPL LIMITED stood at Rs 492 m in FY22, which was up 9.7% compared to Rs 448 m reported in FY21.

BPL LIMITED's revenue has fallen from Rs 1,384 m in FY18 to Rs 492 m in FY22.

Over the past 5 years, the revenue of BPL LIMITED has grown at a CAGR of -22.8%.

What was the net profit of BPL LIMITED in FY22? How does it compare to earlier years?

The net profit of BPL LIMITED stood at Rs 130 m in FY22, which was NA compared to Rs -215 m reported in FY21.

This compares to a net profit of Rs 38 m in FY20 and a net profit of Rs 9 m in FY19.

Over the past 5 years, BPL LIMITED net profit has grown at a CAGR of 15.2%.

What does the cash flow statement of BPL LIMITED 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 BPL LIMITED reveals:

  • Cash flow from operations decreased in FY22 and stood at Rs -7 m as compared to Rs 13 m in FY21.
  • Cash flow from investments increased in FY22 and stood at Rs 36 m as compared to Rs 3 m in FY21.
  • Cash flow from financial activity decreased in FY22 and stood at Rs -39 m as compared to Rs -13 m in FY21.

Here's the cash flow statement of BPL LIMITED for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations37-658413-7
From Investments150-37-115336
From Financial Activity-195163-13-39
Net Cashflow-8-86-273-9

What does the Key Ratio analysis of BPL LIMITED 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 BPL LIMITED reveals:

  • Operating profit margins witnessed a fall and stood at 0.2% in FY22 as against 5.2% in FY21.
  • Net profit margins grew from 49.1% in FY21 to 33.9% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.1 as compared to 0.0 in FY21.

Here's the ratio/financial analysis of BPL LIMITED for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)8.32.2-17.35.20.2
Net Profit Margin (%)6.00.74.0-49.133.9
Debt to Equity Ratio (x)0.00.00.00.00.1

Read: Latest Annual Report Analysis of BPL LIMITED

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