BATLIBOI LTD 2017-18 Annual Report Analysis

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BATLIBOI LTD 2017-18 Annual Report Analysis
Tue, 18 Dec

BATLIBOI LTD 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.

BATLIBOI LTD Income Statement Analysis

  • Operating income during the year rose 3.9% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 28.2% YoY during the fiscal. Operating profit margins witnessed a growth and down at 2.0% in FY18 as against 2.9% in FY17.
  • Depreciation charges decreased by 9.5% and finance costs decreased by 13.2% YoY, respectively.
  • Other income grew by 238.8% YoY.
  • Net profit for the year declined by 23.3% YoY.
  • Net profit margins during the year grew from 6.5% in FY17 to 4.7% in FY18.

BATLIBOI LTD Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 2,043 2,123 3.9%
Other income Rs m 21 71 238.8%
Total Revenues Rs m 2,064 2,194 6.3%
Gross profit Rs m -59 -43 -28.2%
Depreciation Rs m 53 48 -9.5%
Interest Rs m 80 70 -13.2%
Profit before tax Rs m -171 -89 -48.0%
Tax Rs m -36 15 -140.2%
Profit after tax Rs m -135 -104 -23.3%
Gross profit margin % -2.9 -2.0
Effective tax rate % 21.1 -16.3
Net profit margin % -6.5 -4.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BATLIBOI LTD Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 1 billion as compared to Rs 881 million in FY17, thereby witnessing an increase of 33.2%.
  • Long-term debt down at Rs 322 million as compared to Rs 335 million during FY17, a fall of 3.8%.
  • Current assets rose 32% and stood at Rs 904 million, while fixed assets fell 1% and stood at Rs 2 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 3 billion as against Rs 3 billion during FY17, thereby witnessing a growth of 6%.

BATLIBOI LTD Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 1,385 1,239 -10.6
 
Current Liabilities Rs m 881 1,174 33.2
Long-term Debt Rs m 335 322 -3.8
Total Liabilities Rs m 2,975 3,144 5.7
 
Current assets Rs m 686 904 31.8
Fixed Assets Rs m 2,247 2,218 -1.3
Total Assets Rs m 2,975 3,144 5.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BATLIBOI LTD Cash Flow Statement Analysis

  • BATLIBOI LTD's cash flow from operating activities (CFO) during FY18 stood at Rs 12 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -10 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -29 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -27 million from the Rs -3 million net cash flows seen during FY17.

BATLIBOI LTD 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 -93 12 -
Cash Flow from Investing Activities Rs m 98 -10 -
Cash Flow from Financing Activities Rs m -7 -29 -
Net Cash Flow Rs m -3 -27 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for BATLIBOI LTD

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -3.6, an improvement from the EPS of Rs -4.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 15.4, stands at -5.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.9 times, while the price to sales ratio stands at 0.5 times.
  • The company's price to cash flow (P/CF) ratio stood at -7.9 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 71.1 73.9
TTM Earnings per share Rs -4.7 -3.6
Diluted earnings per share Rs -4.7 -3.6
Price to Cash Flow x -5.4 -7.9
TTM P/E ratio x -5.3 -5.3
Price / Book Value ratio x 0.5 0.9
Market Cap Rs m 441 440
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 BATLIBOI LTD

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.8x during FY18, from 0.8x 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 -0.3x during FY18, from -1.1x 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 improved and stood at -8.4% during FY18, from -9.8% 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 improved and stood at -1.3% during FY18, from -5.3% 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 improved and stood at -1.1% during FY18, from -1.9% 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 0.8 0.8
Debtors’ Days Days 42 76
Interest coverage x -1.1 -0.3
Debt to equity ratio x 0.2 0.3
Return on assets % -1.9 -1.1
Return on equity % -9.8 -8.4
Return on capital employed % -5.3 -1.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how BATLIBOI LTD has performed over the last 5 years, please visit here.

BATLIBOI LTD Share Price Performance

Over the last one year, BATLIBOI LTD share price has moved up from Rs 29.9 to Rs 15.4, registering a loss of Rs 14.5 or around 48.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,593.6 (up 0.6%). Over the last one year it has moved up from 18,447.1 to 18,593.6, a gain of 147 points (up 0.8%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

(To know more, check out historical annual results for BATLIBOI LTD and quarterly results for BATLIBOI LTD)

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