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COROMANDEL INTERN 2021-22 Annual Report Analysis
Fri, 8 Jul

COROMANDEL INTERN has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

COROMANDEL INTERN Income Statement Analysis

  • Operating income during the year rose 34.8% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 8.3% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 11.2% in FY22 as against 14.0% in FY21.
  • Depreciation charges decreased by 0.2% and finance costs decreased by 28.6% YoY, respectively.
  • Other income grew by 92.2% YoY.
  • Net profit for the year grew by 15.2% YoY.
  • Net profit margins during the year declined from 9.3% in FY21 to 8.0% in FY22.

COROMANDEL INTERN Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 141,820 191,109 34.8%
Other income Rs m 751 1,443 92.2%
Total Revenues Rs m 142,570 192,551 35.1%
Gross profit Rs m 19,842 21,499 8.3%
Depreciation Rs m 1,731 1,727 -0.2%
Interest Rs m 1,057 755 -28.6%
Profit before tax Rs m 17,806 20,460 14.9%
Tax Rs m 4,568 5,213 14.1%
Profit after tax Rs m 13,238 15,247 15.2%
Gross profit margin % 14.0 11.2
Effective tax rate % 25.7 25.5
Net profit margin % 9.3 8.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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COROMANDEL INTERN Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 45 billion as compared to Rs 33 billion in FY21, thereby witnessing an increase of 35.3%.
  • Current assets rose 28% and stood at Rs 83 billion, while fixed assets rose 24% and stood at Rs 29 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 113 billion as against Rs 89 billion during FY21, thereby witnessing a growth of 27%.

COROMANDEL INTERN Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 51,396 63,461 23.5
 
Current Liabilities Rs m 33,017 44,656 35.3
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 88,955 112,847 26.9
 
Current assets Rs m 65,213 83,402 27.9
Fixed Assets Rs m 23,742 29,445 24.0
Total Assets Rs m 88,955 112,847 26.9
* 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 FY22 stood at Rs 21 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -16 billion, an improvement of 29.0% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -4 billion, an improvement of 80% on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs 139 million from the Rs 6 billion net cash flows seen during FY21.

COROMANDEL INTERN Cash Flow Statement 2021-22

Particulars No. of months 12 12 % Change
Year Ending Mar-21 Mar-22
Cash Flow from Operating Activities Rs m 41,502 20,781 -49.9%
Cash Flow from Investing Activities Rs m -12,572 -16,220 -
Cash Flow from Financing Activities Rs m -22,632 -4,425 -
Net Cash Flow Rs m 6,416 139 -97.8%
* 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 51.9, an improvement from the EPS of Rs 45.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 975.4, stands at 18.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.5 times, while the price to sales ratio stands at 1.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 14.4 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 483.4 651.1
TTM Earnings per share Rs 45.1 51.9
Diluted earnings per share Rs 45.1 51.9
Price to Cash Flow x 15.2 14.4
TTM P/E ratio x 17.2 18.8
Price / Book Value ratio x 3.9 3.9
Market Cap Rs m 201,933 244,409
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 deteriorated and stood at 1.9x during FY22, from 2.0x during FY21. 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 28.1x during FY22, from 17.9x during FY21. 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 24.0% during FY22, from 25.8% during FY22. 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 33.4% during FY22, from 36.7% during FY21. 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 14.2% during FY22, from 16.1% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 2.0 1.9
Debtors’ Days Days 143 51
Interest coverage x 17.9 28.1
Debt to equity ratio x 0.0 0.0
Return on assets % 16.1 14.2
Return on equity % 25.8 24.0
Return on capital employed % 36.7 33.4
* 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 896.6 to Rs 975.4, registering a gain of Rs 78.8 or around 8.8%.

Overall, the S&P BSE SENSEX is up 3.1% 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 998.9 per share. You can check out the latest share price performance of COROMANDEL INTERN here...

What was the revenue of COROMANDEL INTERN in FY22? How does it compare to earlier years?

The revenues of COROMANDEL INTERN stood at Rs 192,551 m in FY22, which was up 35.1% compared to Rs 142,570 m reported in FY21.

COROMANDEL INTERN's revenue has grown from Rs 110,985 m in FY18 to Rs 192,551 m in FY22.

Over the past 5 years, the revenue of COROMANDEL INTERN has grown at a CAGR of 14.8%.

What was the net profit of COROMANDEL INTERN in FY22? How does it compare to earlier years?

The net profit of COROMANDEL INTERN stood at Rs 15,247 m in FY22, which was up 15.2% compared to Rs 13,238 m reported in FY21.

This compares to a net profit of Rs 10,643 m in FY20 and a net profit of Rs 7,196 m in FY19.

Over the past 5 years, COROMANDEL INTERN net profit has grown at a CAGR of 21.8%.

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 decreased in FY22 and stood at Rs 20,781 m as compared to Rs 41,502 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -16,220 m as compared to Rs -12,572 m in FY21.
  • Cash flow from financial activity increased in FY22 and stood at Rs -4,425 m as compared to Rs -22,632 m in FY21.

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

(Rs m)FY18FY19FY20FY21FY22
From Operations2,6335,26418,62041,50220,781
From Investments320-5,971-2,219-12,572-16,220
From Financial Activity-10-2,441-17,231-22,632-4,425
Net Cashflow2,998-3,144-8166,416139

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 stood at 11.2% in FY22 as against 14.0% in FY21.
  • Net profit margins declined from 9.3% in FY21 to 8.0% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.0 as compared to 0.0 in FY21.

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

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)11.410.713.214.011.2
Net Profit Margin (%)6.35.48.19.38.0
Debt to Equity Ratio (x)0.00.00.00.00.0

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