CANTABIL RETAIL 2020-21 Annual Report Analysis

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CANTABIL RETAIL 2020-21 Annual Report Analysis
Thu, 28 Oct

CANTABIL RETAIL 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.

CANTABIL RETAIL Income Statement Analysis

  • Operating income during the year fell 25.6% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 29.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 23.6% in FY21 as against 25.1% in FY20.
  • Depreciation charges decreased by 11.5% and finance costs increased by 19.7% YoY, respectively.
  • Other income grew by 301.9% YoY.
  • Net profit for the year declined by 41.2% YoY.
  • Net profit margins during the year declined from 4.8% in FY20 to 3.6% in FY21.

CANTABIL RETAIL Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 3,380 2,516 -25.6%
Other income Rs m 42 168 301.9%
Total Revenues Rs m 3,422 2,684 -21.6%
Gross profit Rs m 847 594 -29.9%
Depreciation Rs m 442 391 -11.5%
Interest Rs m 207 248 19.7%
Profit before tax Rs m 240 123 -48.9%
Tax Rs m 76 26 -65.8%
Profit after tax Rs m 164 97 -41.2%
Gross profit margin % 25.1 23.6
Effective tax rate % 31.6 21.2
Net profit margin % 4.8 3.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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CANTABIL RETAIL Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 951 million as compared to Rs 1 billion in FY20, thereby witnessing an decrease of -11.6%.
  • Current assets fell 3% and stood at Rs 1 billion, while fixed assets fell 6% and stood at Rs 3 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 4 billion as against Rs 4 billion during FY20, thereby witnessing a fall of 5%.

CANTABIL RETAIL Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 1,181 1,240 5.1
 
Current Liabilities Rs m 1,076 951 -11.6
Long-term Debt Rs m 24 0 -100.0
Total Liabilities Rs m 4,335 4,116 -5.1
 
Current assets Rs m 1,533 1,484 -3.2
Fixed Assets Rs m 2,802 2,631 -6.1
Total Assets Rs m 4,335 4,116 -5.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



CANTABIL RETAIL Cash Flow Statement Analysis

  • CANTABIL RETAIL's cash flow from operating activities (CFO) during FY21 stood at Rs 665 million, an improvement of 6.9% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -70 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -552 million on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 42 million from the Rs 15 million net cash flows seen during FY20.

CANTABIL RETAIL 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 621 665 6.9%
Cash Flow from Investing Activities Rs m -128 -70 -
Cash Flow from Financing Activities Rs m -479 -552 -
Net Cash Flow Rs m 15 42 183.7%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for CANTABIL RETAIL

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 5.9, an decline from the EPS of Rs 10.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 604.0, stands at 65.0 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.2 times, while the price to sales ratio stands at 2.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 20.2 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 207.0 154.1
TTM Earnings per share Rs 10.1 5.9
Diluted earnings per share Rs 10.1 5.9
Price to Cash Flow x 16.3 20.2
TTM P/E ratio x 65.0 65.0
Price / Book Value ratio x 3.5 4.2
Market Cap Rs m 9,862 9,862
Dividends per share (Unadj.) Rs 1.0 1.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for CANTABIL RETAIL

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.6x during FY21, from 1.4x 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 deteriorated and stood at 1.5x during FY21, from 2.2x 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 declined and down at 7.8% during FY21, from 13.9% 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 declined and down at 29.9% during FY21, from 37.1% 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 declined and down at 8.4% during FY21, from 8.6% 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 1.4 1.6
Debtors’ Days Days 49 56
Interest coverage x 2.2 1.5
Debt to equity ratio x 0.0 0.0
Return on assets % 8.6 8.4
Return on equity % 13.9 7.8
Return on capital employed % 37.1 29.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how CANTABIL RETAIL has performed over the last 5 years, please visit here.

CANTABIL RETAIL Share Price Performance

Over the last one year, CANTABIL RETAIL share price has moved up from Rs 329.3 to Rs 604.0, registering a gain of Rs 274.7 or around 83.4%.

Overall, the S&P BSE SENSEX is up 51.2% over the year.

(To know more, check out historical annual results for CANTABIL RETAIL and quarterly results for CANTABIL RETAIL)

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