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COROMANDEL INTERN 2020-21 Annual Report Analysis
Wed, 31 Mar

COROMANDEL INTERN 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.

COROMANDEL INTERN Income Statement Analysis

  • Operating income during the year rose 8.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 16.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 14.2% in FY21 as against 13.2% in FY20.
  • Depreciation charges increased by 9.5% and finance costs decreased by 55.1% YoY, respectively.
  • Other income grew by 8.7% YoY.
  • Net profit for the year grew by 24.4% YoY.
  • Net profit margins during the year grew from 8.1% in FY20 to 9.3% in FY21.

COROMANDEL INTERN Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 131,367 142,135 8.2%
Other income Rs m 400 435 8.7%
Total Revenues Rs m 131,767 142,570 8.2%
Gross profit Rs m 17,310 20,158 16.5%
Depreciation Rs m 1,580 1,731 9.5%
Interest Rs m 2,353 1,057 -55.1%
Profit before tax Rs m 13,777 17,806 29.2%
Tax Rs m 3,135 4,568 45.7%
Profit after tax Rs m 10,643 13,238 24.4%
Gross profit margin % 13.2 14.2
Effective tax rate % 22.8 25.7
Net profit margin % 8.1 9.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Potential 33x Opportunity: 3 Next-Generation Defence Stocks

COROMANDEL INTERN Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 33 billion as compared to Rs 54 billion in FY20, thereby witnessing an decrease of -38.5%.
  • Current assets fell 16% and stood at Rs 65 billion, while fixed assets rose 1% and stood at Rs 24 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 89 billion as against Rs 101 billion during FY20, thereby witnessing a fall of 12%.

COROMANDEL INTERN Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 43,053 51,396 19.4
 
Current Liabilities Rs m 53,665 33,019 -38.5
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 101,488 88,957 -12.3
 
Current assets Rs m 77,938 65,213 -16.3
Fixed Assets Rs m 23,550 23,744 0.8
Total Assets Rs m 101,488 88,957 -12.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



COROMANDEL INTERN Cash Flow Statement Analysis

  • COROMANDEL INTERN's cash flow from operating activities (CFO) during FY21 stood at Rs 42 billion, an improvement of 122.9% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -13 billion, an improvement of 466.5% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -23 billion on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 6 billion from the Rs -816 million net cash flows seen during FY20.

COROMANDEL INTERN 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 18,620 41,502 122.9%
Cash Flow from Investing Activities Rs m -2,219 -12,572 -
Cash Flow from Financing Activities Rs m -17,231 -22,632 -
Net Cash Flow Rs m -816 6,416 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for COROMANDEL INTERN

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 45.1, an improvement from the EPS of Rs 36.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 774.2, stands at 17.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.4 times, while the price to sales ratio stands at 1.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 13.5 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 448.4 484.5
TTM Earnings per share Rs 36.3 45.1
Diluted earnings per share Rs 36.3 45.1
Price to Cash Flow x 13.1 13.5
TTM P/E ratio x 15.0 17.2
Price / Book Value ratio x 3.3 3.9
Market Cap Rs m 143,613 201,933
Dividends per share (Unadj.) Rs 12.0 12.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for COROMANDEL INTERN

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.0x during FY21, from 1.5x 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 improved and stood at 17.9x during FY21, from 6.9x 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 improved and stood at 25.8% during FY21, from 24.7% 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 36.7% during FY21, from 37.5% 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 improved and stood at 16.1% during FY21, from 12.8% 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 1.5 2.0
Debtors’ Days Days 482 142
Interest coverage x 6.9 17.9
Debt to equity ratio x 0.0 0.0
Return on assets % 12.8 16.1
Return on equity % 24.7 25.8
Return on capital employed % 37.5 36.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how COROMANDEL INTERN has performed over the last 5 years, please visit here.

COROMANDEL INTERN Share Price Performance

Over the last one year, COROMANDEL INTERN share price has moved up from Rs 543.9 to Rs 774.2, registering a gain of Rs 230.3 or around 42.3%.

Overall, the S&P BSE SENSEX is up 74.1% over the year.

(To know more, check out historical annual results for COROMANDEL INTERN and quarterly results for COROMANDEL INTERN)

Annual Report FAQs

What is the current share price of COROMANDEL INTERN?

COROMANDEL INTERN currently trades at Rs 1,034.5 per share. You can check out the latest share price performance of COROMANDEL INTERN here...

What was the revenue of COROMANDEL INTERN in FY21? How does it compare to earlier years?

The revenues of COROMANDEL INTERN stood at Rs 142,570 m in FY21, which was up 8.2% compared to Rs 131,767 m reported in FY20.

COROMANDEL INTERN's revenue has grown from Rs 99,212 m in FY17 to Rs 142,570 m in FY21.

Over the past 5 years, the revenue of COROMANDEL INTERN has grown at a CAGR of 9.5%.

What was the net profit of COROMANDEL INTERN in FY21? How does it compare to earlier years?

The net profit of COROMANDEL INTERN stood at Rs 13,238 m in FY21, which was up 24.4% compared to Rs 10,643 m reported in FY20.

This compares to a net profit of Rs 7,196 m in FY19 and a net profit of Rs 6,919 m in FY18.

Over the past 5 years, COROMANDEL INTERN net profit has grown at a CAGR of 29.0%.

What does the cash flow statement of COROMANDEL INTERN reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of COROMANDEL INTERN reveals:

  • Cash flow from operations increased in FY21 and stood at Rs 41,502 m as compared to Rs 18,620 m in FY20.
  • Cash flow from investments decreased in FY21 and stood at Rs -12,572 m as compared to Rs -2,219 m in FY20.
  • Cash flow from financial activity decreased in FY21 and stood at Rs -22,632 m as compared to Rs -17,231 m in FY20.

Here's the cash flow statement of COROMANDEL INTERN for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations9,1522,6335,26418,62041,502
From Investments-786320-5,971-2,219-12,572
From Financial Activity-8,644-10-2,441-17,231-22,632
Net Cashflow-2782,998-3,144-8166,416

What does the Key Ratio analysis of COROMANDEL INTERN reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of COROMANDEL INTERN reveals:

  • Operating profit margins witnessed a fall and down at 14.2% in FY21 as against 13.2% in FY20.
  • Net profit margins grew from 8.1% in FY20 to 9.3% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.0 as compared to 0.0 in FY20.

Here's the ratio/financial analysis of COROMANDEL INTERN for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)10.011.410.713.214.2
Net Profit Margin (%)4.86.35.48.19.3
Debt to Equity Ratio (x)0.00.00.00.00.0

Read: Latest Annual Report Analysis of COROMANDEL INTERN

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