BOMBAY RAYON F 2017-18 Annual Report Analysis

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BOMBAY RAYON F 2017-18 Annual Report Analysis
Tue, 22 Jan

BOMBAY RAYON F has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

BOMBAY RAYON F Income Statement Analysis

  • Operating income during the year fell 20.4% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 66.5% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 6.4% in FY18 as against 15.2% in FY17.
  • Depreciation charges decreased by 4.0% and finance costs decreased by 37.1% YoY, respectively.
  • Other income declined by 1.5% YoY.
  • Net profit for the year grew by 76.0% YoY.
  • Net profit margins during the year declined from 4.1% in FY17 to 9.2% in FY18.

BOMBAY RAYON F Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 38,949 30,993 -20.4%
Other income Rs m 222 219 -1.5%
Total Revenues Rs m 39,171 31,211 -20.3%
Gross profit Rs m 5,921 1,986 -66.5%
Depreciation Rs m 1,666 1,599 -4.0%
Interest Rs m 6,726 4,230 -37.1%
Profit before tax Rs m -2,248 -3,624 61.2%
Tax Rs m -625 -768 22.8%
Profit after tax Rs m -1,623 -2,856 76.0%
Gross profit margin % 15.2 6.4
Effective tax rate % 27.8 21.2
Net profit margin % -4.1 -9.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BOMBAY RAYON F Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 37 billion as compared to Rs 48 billion in FY17, thereby witnessing an decrease of -23.7%.
  • Long-term debt down at Rs 12 billion as compared to Rs 17 billion during FY17, a fall of 25.9%.
  • Current assets rose 3% and stood at Rs 58 billion, while fixed assets fell 4% and stood at Rs 33 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 93 billion as against Rs 94 billion during FY17, thereby witnessing a fall of 0%.

BOMBAY RAYON F Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 27,171 43,493 60.1
 
Current Liabilities Rs m 48,146 36,751 -23.7
Long-term Debt Rs m 16,653 12,333 -25.9
Total Liabilities Rs m 93,523 93,390 -0.1
 
Current assets Rs m 56,205 58,126 3.4
Fixed Assets Rs m 34,637 33,172 -4.2
Total Assets Rs m 93,523 93,390 -0.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BOMBAY RAYON F Cash Flow Statement Analysis

  • BOMBAY RAYON F's cash flow from operating activities (CFO) during FY18 stood at Rs -992 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -29 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -17 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 0 million from the Rs -283 million net cash flows seen during FY17.

BOMBAY RAYON F Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m -2,782 -992 -
Cash Flow from Investing Activities Rs m -61 -29 -
Cash Flow from Financing Activities Rs m 2,560 -17,328 -
Net Cash Flow Rs m -283 0 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for BOMBAY RAYON F

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -9.0, an decline from the EPS of Rs -8.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 8.7, stands at -0.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.0 times, while the price to sales ratio stands at 1.4 times.
  • The company's price to cash flow (P/CF) ratio stood at -0.9 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 209.4 97.6
TTM Earnings per share Rs -8.7 -9.0
Diluted earnings per share Rs -12.1 -21.2
Price to Cash Flow x 38.0 -0.9
TTM P/E ratio x -0.2 -0.1
Price / Book Value ratio x 1.1 1.0
Market Cap Rs m 1,624 1,175
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for BOMBAY RAYON F

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.6x during FY18, from 1.2x during FY17. 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 0.1x during FY18, from 0.7x during FY17. 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 -6.6% during FY18, from -6.0% during FY18. 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 1.1% during FY18, from 10.2% during FY17. 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 1.5% during FY18, from 5.5% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 1.2 1.6
Debtors’ Days Days 133 191
Interest coverage x 0.7 0.1
Debt to equity ratio x 0.6 0.3
Return on assets % 5.5 1.5
Return on equity % -6.0 -6.6
Return on capital employed % 10.2 1.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how BOMBAY RAYON F has performed over the last 5 years, please visit here.

BOMBAY RAYON F Share Price Performance

Over the last one year, BOMBAY RAYON F share price has moved up from Rs 85.0 to Rs 8.7, registering a loss of Rs 76.3 or around 89.7%.

Overall, the S&P BSE SENSEX is up 1.6% over the year.

(To know more, check out historical annual results for BOMBAY RAYON F and quarterly results for BOMBAY RAYON F)

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Related Views on News

BOMBAY RAYON F Announces Quarterly Results (4QFY19); Net Profit Down 142.2% (Quarterly Result Update)

Jun 12, 2019 | Updated on Jun 12, 2019

For the quarter ended March 2019, BOMBAY RAYON F has posted a net profit of Rs 6 bn (down 142.2% YoY). Sales on the other hand came in at Rs 2 bn (down 71.0% YoY). Read on for a complete analysis of BOMBAY RAYON F's quarterly results.

BOMBAY RAYON F Announces Quarterly Results (3QFY19); Net Profit Down 1830.6% (Quarterly Result Update)

Feb 25, 2019 | Updated on Feb 25, 2019

For the quarter ended December 2018, BOMBAY RAYON F has posted a net profit of Rs 5 bn (down 1830.6% YoY). Sales on the other hand came in at Rs 2 bn (down 74.2% YoY). Read on for a complete analysis of BOMBAY RAYON F's quarterly results.

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