BRIGADE ENTERPRISES 2017-18 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?  

BRIGADE ENTERPRISES 2017-18 Annual Report Analysis
Thu, 20 Dec

BRIGADE ENTERPRISES 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.

BRIGADE ENTERPRISES Income Statement Analysis

  • Operating income during the year fell 6.3% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 3.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 29.2% in FY18 as against 28.4% in FY17.
  • Depreciation charges increased by 12.3% and finance costs increased by 5.1% YoY, respectively.
  • Other income grew by 41.1% YoY.
  • Net profit for the year declined by 20.5% YoY.
  • Net profit margins during the year declined from 8.1% in FY17 to 6.8% in FY18.

BRIGADE ENTERPRISES Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 20,241 18,972 -6.3%
Other income Rs m 342 483 41.1%
Total Revenues Rs m 20,584 19,455 -5.5%
Gross profit Rs m 5,748 5,545 -3.5%
Depreciation Rs m 1,226 1,377 12.3%
Interest Rs m 2,469 2,594 5.1%
Profit before tax Rs m 2,396 2,057 -14.1%
Tax Rs m 732 628 -14.1%
Profit after tax Rs m 1,672 1,329 -20.5%
Gross profit margin % 28.4 29.2
Effective tax rate % 30.5 30.5
Net profit margin % 8.1 6.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BRIGADE ENTERPRISES Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 25 billion as compared to Rs 27 billion in FY17, thereby witnessing an decrease of -7.4%.
  • Long-term debt stood at Rs 26 billion as compared to Rs 16 billion during FY17, a growth of 65.8%.
  • Current assets rose 11% and stood at Rs 31 billion, while fixed assets rose 31% and stood at Rs 39 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 78 billion as against Rs 64 billion during FY17, thereby witnessing a growth of 23%.

BRIGADE ENTERPRISES Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 16,949 22,870 34.9
 
Current Liabilities Rs m 26,645 24,681 -7.4
Long-term Debt Rs m 15,885 26,331 65.8
Total Liabilities Rs m 63,520 78,219 23.1
 
Current assets Rs m 28,000 31,048 10.9
Fixed Assets Rs m 29,943 39,256 31.1
Total Assets Rs m 63,520 78,219 23.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BRIGADE ENTERPRISES Cash Flow Statement Analysis

  • BRIGADE ENTERPRISES's cash flow from operating activities (CFO) during FY18 stood at Rs 487 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -11 billion, an improvement of 224.0% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 10 billion, an improvement of 1,883% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -38 million from the Rs 54 million net cash flows seen during FY17.

BRIGADE ENTERPRISES 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 3,978 487 -87.8%
Cash Flow from Investing Activities Rs m -3,346 -10,842 -
Cash Flow from Financing Activities Rs m -579 10,317 -
Net Cash Flow Rs m 54 -38 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for BRIGADE ENTERPRISES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.8, an decline from the EPS of Rs 14.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 206.1, stands at 11.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.6 times, while the price to sales ratio stands at 2.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 8.6 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 178.1 139.5
TTM Earnings per share Rs 14.7 9.8
Diluted earnings per share Rs 14.8 11.8
Price to Cash Flow x 8.1 8.6
TTM P/E ratio x 11.2 11.1
Price / Book Value ratio x 1.3 1.6
Market Cap Rs m 23,420 23,212
Dividends per share (Unadj.) Rs 2.5 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for BRIGADE ENTERPRISES

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.3x during FY18, from 1.1x 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 1.8x during FY18, from 2.0x 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 5.8% during FY18, from 9.9% 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 9.2% during FY18, from 14.8% 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 5.0% during FY18, from 6.5% 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 1.1 1.3
Debtors’ Days Days 7 34
Interest coverage x 2.0 1.8
Debt to equity ratio x 0.9 1.2
Return on assets % 6.5 5.0
Return on equity % 9.9 5.8
Return on capital employed % 14.8 9.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how BRIGADE ENTERPRISES has performed over the last 5 years, please visit here.

BRIGADE ENTERPRISES Share Price Performance

Over the last one year, BRIGADE ENTERPRISES share price has moved up from Rs 300.3 to Rs 206.1, registering a loss of Rs 94.3 or around 31.4%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,900.7 (up 0.4%). Over the last one year it has moved down from 2,483.9 to 1,900.7, a loss of 583 points (down 23.5%).

Overall, the S&P BSE SENSEX is up 7.5% over the year.

(To know more, check out historical annual results for BRIGADE ENTERPRISES and quarterly results for BRIGADE ENTERPRISES)

Equitymaster requests your view! Post a comment on "BRIGADE ENTERPRISES 2017-18 Annual Report Analysis". Click here!

  

Related Views on News

BRIGADE ENTERPRISES Announces Quarterly Results (2QFY20); Net Profit Down 57.1% (Quarterly Result Update)

Nov 12, 2019 | Updated on Nov 12, 2019

For the quarter ended September 2019, BRIGADE ENTERPRISES has posted a net profit of Rs 372 m (down 57.1% YoY). Sales on the other hand came in at Rs 7 bn (down 11.0% YoY). Read on for a complete analysis of BRIGADE ENTERPRISES's quarterly results.

BRIGADE ENTERPRISES 2018-19 Annual Report Analysis (Annual Result Update)

Sep 25, 2019 | Updated on Sep 25, 2019

Here's an analysis of the annual report of BRIGADE ENTERPRISES for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of BRIGADE ENTERPRISES. Also includes updates on the valuation of BRIGADE ENTERPRISES.

BRIGADE ENTERPRISES Announces Quarterly Results (4QFY19); Net Profit Up 366.8% (Quarterly Result Update)

May 10, 2019 | Updated on May 10, 2019

For the quarter ended March 2019, BRIGADE ENTERPRISES has posted a net profit of Rs 717 m (up 366.8% YoY). Sales on the other hand came in at Rs 8 bn (up 75.3% YoY). Read on for a complete analysis of BRIGADE ENTERPRISES's quarterly results.

IRCON International IPO: Is This PSU Worth Betting On? (IPO)

Sep 17, 2018

Should you subscribe to the IPO of IRCON International Ltd?

More Views on News

Most Popular

Could this Smallcap Be the Next Page Industries?(Profit Hunter)

Nov 27, 2019

A single stock - Coca Cola, made Buffett billions. Here's your chance to break into the crorepati club with a single smallcap stock investment.

How We Made 12.68% in One Overnight Trade(The 5 Minute Wrapup)

Nov 25, 2019

This one trade had my subscribers laughing all the way to the bank.

Growth Stocks or Value Stocks... What Will Make You More Money in this Bull Market?(Profit Hunter)

Nov 28, 2019

Should you invest in growth stocks or value stocks to make strong returns in this market?

Two Trends to Look at as Sensex Crosses 41,000 Levels(Views On News)

Nov 26, 2019

The two trends that are playing out as Sensex touches new record high.

The Best Trading Strategy for Fast Profits

Nov 29, 2019

Vijay and I have decided to team up and bring you a unique offering never seen before in the Indian stock markets.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2020
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK BRIGADE ENTERPRISES

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

MORE ON BRIGADE ENTERPRISES

BRIGADE ENTERPRISES 8-QTR ANALYSIS

COMPARE BRIGADE ENTERPRISES WITH

MARKET STATS