CONTAINER CORPORATION 2018-19 Annual Report Analysis

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CONTAINER CORPORATION 2018-19 Annual Report Analysis
Thu, 14 Nov

CONTAINER CORPORATION has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

CONTAINER CORPORATION Income Statement Analysis

  • Operating income during the year rose 35.4% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 19.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 20.6% in FY19 as against 23.4% in FY18.
  • Depreciation charges increased by 7.7% and finance costs increased by 17.8% YoY, respectively.
  • Other income grew by 10.5% YoY.
  • Net profit for the year grew by 15.5% YoY.
  • Net profit margins during the year declined from 15.4% in FY18 to 13.2% in FY19.

CONTAINER CORPORATION Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 66,124 89,561 35.4%
Other income Rs m 2,868 3,170 10.5%
Total Revenues Rs m 68,992 92,731 34.4%
Gross profit Rs m 15,475 18,408 19.0%
Depreciation Rs m 4,200 4,523 7.7%
Interest Rs m 56 65 17.8%
Profit before tax Rs m 14,087 16,990 20.6%
Tax Rs m 3,486 4,744 36.1%
Profit after tax Rs m 10,601 12,246 15.5%
Gross profit margin % 23.4 20.6
Effective tax rate % 24.7 27.9
Net profit margin % 15.4 13.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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CONTAINER CORPORATION Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 19 billion as compared to Rs 11 billion in FY18, thereby witnessing an increase of 82.5%.
  • Long-term debt stood at Rs 700 million as compared to Rs 620 million during FY18, a growth of 12.9%.
  • Current assets rose 47% and stood at Rs 47 billion, while fixed assets rose 10% and stood at Rs 52 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 128 billion as against Rs 109 billion during FY18, thereby witnessing a growth of 17%.

CONTAINER CORPORATION Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 93,482 103,299 10.5
 
Current Liabilities Rs m 10,637 19,412 82.5
Long-term Debt Rs m 620 700 12.9
Total Liabilities Rs m 109,196 128,003 17.2
 
Current assets Rs m 32,200 47,287 46.9
Fixed Assets Rs m 47,111 51,904 10.2
Total Assets Rs m 109,196 128,003 17.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



CONTAINER CORPORATION Cash Flow Statement Analysis

  • CONTAINER CORPORATION's cash flow from operating activities (CFO) during FY19 stood at Rs -19 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 13 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs 5 billion, an improvement of 198% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -816 million from the Rs 747 million net cash flows seen during FY18.

CONTAINER CORPORATION Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 13,133 -18,782 -
Cash Flow from Investing Activities Rs m -7,462 13,159 -
Cash Flow from Financing Activities Rs m -4,924 4,806 -
Net Cash Flow Rs m 747 -816 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for CONTAINER CORPORATION

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 4.0, an decline from the EPS of Rs 43.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 578.9, stands at 66.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 27.8 times, while the price to sales ratio stands at 32.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 21.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 271.3 29.4
TTM Earnings per share Rs 43.5 4.0
Diluted earnings per share Rs 17.4 20.1
Price to Cash Flow x 9.5 21.0
TTM P/E ratio x 26.5 66.2
Price / Book Value ratio x 3.2 27.8
Market Cap Rs m 141,077 352,690
Dividends per share (Unadj.) Rs 17.1 8.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for CONTAINER CORPORATION

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 2.4x during FY19, from 3.0x during FY18. 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 improved and stood at 260.8x during FY19, from 254.8x during FY18. 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 11.9% during FY19, from 11.3% during FY19. 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 16.4% during FY19, from 15.0% during FY18. 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 9.6% during FY19, from 9.8% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 3.0 2.4
Debtors’ Days Days 5 4
Interest coverage x 254.8 260.8
Debt to equity ratio x 0.0 0.0
Return on assets % 9.8 9.6
Return on equity % 11.3 11.9
Return on capital employed % 15.0 16.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

CONTAINER CORPORATION Share Price Performance

Over the last one year, CONTAINER CORPORATION share price has moved up from Rs 532.9 to Rs 578.9, registering a gain of Rs 46.0 or around 8.6%.

Overall, the S&P BSE SENSEX is up 14.6% over the year.

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

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CONTAINER CORPORATION Announces Quarterly Results (3QFY20); Net Profit Down 36.1% (Quarterly Result Update)

Feb 10, 2020 | Updated on Feb 10, 2020

For the quarter ended December 2019, CONTAINER CORPORATION has posted a net profit of Rs 2 bn (down 36.1% YoY). Sales on the other hand came in at Rs 15 bn (down 7.8% YoY). Read on for a complete analysis of CONTAINER CORPORATION's quarterly results.

CONTAINER CORPORATION Announces Quarterly Results (2QFY20); Net Profit Down 195.8% (Quarterly Result Update)

Nov 5, 2019 | Updated on Nov 5, 2019

For the quarter ended September 2019, CONTAINER CORPORATION has posted a net profit of Rs 3 bn (down 195.8% YoY). Sales on the other hand came in at Rs 17 bn (down 4.6% YoY). Read on for a complete analysis of CONTAINER CORPORATION's quarterly results.

CONTAINER CORP 2017-18 Annual Report Analysis (Annual Result Update)

Dec 18, 2018 | Updated on Dec 18, 2018

Here's an analysis of the annual report of CONTAINER CORP for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of CONTAINER CORP. Also includes updates on the valuation of CONTAINER CORP.

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