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CONTAINER CORP 2017-18 Annual Report Analysis

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CONTAINER CORP 2017-18 Annual Report Analysis
Tue, 18 Dec

CONTAINER CORP 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.

CONTAINER CORP Income Statement Analysis

  • Operating income during the year rose 10.7% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 22.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 23.5% in FY18 as against 21.3% in FY17.
  • Depreciation charges increased by 14.4% and finance costs increased by 51.6% YoY, respectively.
  • Other income grew by 0.6% YoY.
  • Net profit for the year grew by 24.5% YoY.
  • Net profit margins during the year grew from 13.6% in FY17 to 15.4% in FY18.

CONTAINER CORP Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 59,797 66,225 10.7%
Other income Rs m 2,850 2,868 0.6%
Total Revenues Rs m 62,648 69,092 10.3%
Gross profit Rs m 12,711 15,534 22.2%
Depreciation Rs m 3,671 4,200 14.4%
Interest Rs m 37 56 51.6%
Profit before tax Rs m 11,854 14,147 19.3%
Tax Rs m 3,312 3,510 6.0%
Profit after tax Rs m 8,541 10,637 24.5%
Gross profit margin % 21.3 23.5
Effective tax rate % 27.9 24.8
Net profit margin % 13.6 15.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



CONTAINER CORP Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 11 billion as compared to Rs 8 billion in FY17, thereby witnessing an increase of 25.5%.
  • Long-term debt down at Rs 620 million as compared to Rs 620 million during FY17, a fall of 0.0%.
  • Current assets rose 20% and stood at Rs 32 billion, while fixed assets rose 10% and stood at Rs 47 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 109 billion as against Rs 101 billion during FY17, thereby witnessing a growth of 7%.

CONTAINER CORP Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 87,712 93,482 6.6
 
Current Liabilities Rs m 8,476 10,637 25.5
Long-term Debt Rs m 620 620 0.0
Total Liabilities Rs m 101,270 108,605 7.2
 
Current assets Rs m 26,823 32,200 20.0
Fixed Assets Rs m 42,745 47,111 10.2
Total Assets Rs m 101,270 108,605 7.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



CONTAINER CORP Cash Flow Statement Analysis

  • CONTAINER CORP's cash flow from operating activities (CFO) during FY18 stood at Rs 13 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -5 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -5 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 3 billion from the Rs 9 billion net cash flows seen during FY17.

CONTAINER CORP 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 20,294 13,278 -34.6%
Cash Flow from Investing Activities Rs m -8,820 -5,493 -
Cash Flow from Financing Activities Rs m -2,925 -4,924 -
Net Cash Flow Rs m 8,549 2,861 -66.5%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for CONTAINER CORP

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 43.6, an decline from the EPS of Rs 43.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 656.9, stands at 27.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.2 times, while the price to sales ratio stands at 4.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 21.6 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 306.7 271.7
TTM Earnings per share Rs 43.8 43.6
Diluted earnings per share Rs 17.5 21.8
Price to Cash Flow x 10.5 21.6
TTM P/E ratio x 10.9 27.3
Price / Book Value ratio x 2.9 3.2
Market Cap Rs m 128,066 320,175
Dividends per share (Unadj.) Rs 17.1 17.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for CONTAINER CORP

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 3.0x during FY18, from 3.2x 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 255.9x during FY18, from 324.9x 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 11.4% during FY18, from 9.7% 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 15.1% during FY18, from 13.5% 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 9.8% during FY18, from 8.5% 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 3.2 3.0
Debtors’ Days Days 4 5
Interest coverage x 324.9 255.9
Debt to equity ratio x 0.0 0.0
Return on assets % 8.5 9.8
Return on equity % 9.7 11.4
Return on capital employed % 13.5 15.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how CONTAINER CORP has performed over the last 5 years, please visit here.

CONTAINER CORP Share Price Performance

Over the last one year, CONTAINER CORP share price has moved up from Rs 655.0 to Rs 656.9, registering a gain of Rs 1.9 or around 0.3%.

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

(To know more, check out historical annual results for CONTAINER CORP and quarterly results for CONTAINER CORP)

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