BALRAMPUR CHINI 2019-20 Annual Report Analysis

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BALRAMPUR CHINI 2019-20 Annual Report Analysis
Tue, 20 Oct

BALRAMPUR CHINI has announced its results for the year ended March 2020. Let us have a look at the detailed performance review of the company during FY19-20.

BALRAMPUR CHINI Income Statement Analysis

  • Operating income during the year rose 10.6% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 1.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 14.4% in FY20 as against 16.1% in FY19.
  • Depreciation charges increased by 5.8% and finance costs increased by 56.7% YoY, respectively.
  • Other income grew by 2.6% YoY.
  • Net profit for the year declined by 9.8% YoY.
  • Net profit margins during the year declined from 13.3% in FY19 to 10.9% in FY20.

BALRAMPUR CHINI Income Statement 2019-20

No. of Mths Year Ending 12 Mar-19* 12 Mar-20* % Change
Net Sales Rs m 42,858 47,413 10.6%
Other income Rs m 428 439 2.6%
Total Revenues Rs m 43,285 47,852 10.5%
Gross profit Rs m 6,891 6,820 -1.0%
Depreciation Rs m 959 1,014 5.8%
Interest Rs m 409 642 56.7%
Profit before tax Rs m 5,950 5,603 -5.8%
Tax Rs m 260 487 87.6%
Profit after tax Rs m 5,758 5,194 -9.8%
Gross profit margin % 16.1 14.4
Effective tax rate % 4.4 8.7
Net profit margin % 13.3 10.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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BALRAMPUR CHINI Balance Sheet Analysis

  • The company's current liabilities during FY20 down at Rs 20 billion as compared to Rs 22 billion in FY19, thereby witnessing an decrease of -8.8%.
  • Long-term debt stood at Rs 3 billion as compared to Rs 3 billion during FY19, a growth of 21.8%.
  • Current assets fell 2% and stood at Rs 29 billion, while fixed assets rose 12% and stood at Rs 16 billion in FY20.
  • Overall, the total assets and liabilities for FY20 stood at Rs 48 billion as against Rs 47 billion during FY19, thereby witnessing a growth of 2%.

BALRAMPUR CHINI Balance Sheet as on March 2020

No. of Mths Year Ending 12 Mar-19* 12 Mar-20* % Change
Networth Rs m 21,178 23,157 9.3
 
Current Liabilities Rs m 21,845 19,917 -8.8
Long-term Debt Rs m 2,793 3,403 21.8
Total Liabilities Rs m 47,022 48,068 2.2
 
Current assets Rs m 29,831 29,164 -2.2
Fixed Assets Rs m 14,674 16,364 11.5
Total Assets Rs m 47,022 48,068 2.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



BALRAMPUR CHINI Cash Flow Statement Analysis

  • BALRAMPUR CHINI's cash flow from operating activities (CFO) during FY20 stood at Rs 8 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY20 stood at Rs -3 billion, an improvement of 91.4% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY20 stood at Rs -5 billion on a YoY basis.
  • Overall, net cash flows for the company during FY20 stood at Rs -6 million from the Rs -3 million net cash flows seen during FY19.

BALRAMPUR CHINI Cash Flow Statement 2019-20

Particulars No. of months 12 12 % Change
Year Ending Mar-19 Mar-20
Cash Flow from Operating Activities Rs m -5,230 8,496 -
Cash Flow from Investing Activities Rs m -1,592 -3,047 -
Cash Flow from Financing Activities Rs m 6,819 -5,455 -
Net Cash Flow Rs m -3 -6 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for BALRAMPUR CHINI

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 23.6, an decline from the EPS of Rs 25.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 164.6, stands at 8.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.3 times, while the price to sales ratio stands at 0.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 7.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-19* 12 Mar-20*
Sales per share (Unadj.) Rs 187.6 215.5
TTM Earnings per share Rs 25.2 23.6
Diluted earnings per share Rs 22.2 20.0
Price to Cash Flow x 5.7 7.0
TTM P/E ratio x 7.4 8.4
Price / Book Value ratio x 1.1 1.3
Market Cap Rs m 37,600 42,735
Dividends per share (Unadj.) Rs 2.5 2.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for BALRAMPUR CHINI

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.5x during FY20, from 1.4x during FY19. 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 9.7x during FY20, from 15.5x during FY19. 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 22.4% during FY20, from 27.2% during FY20. 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 23.8% during FY20, from 26.8% during FY19. 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 12.1% during FY20, from 13.1% during FY19. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-19* 12 Mar-20*
Current ratio x 1.4 1.5
Debtors’ Days Days 38 18
Interest coverage x 15.5 9.7
Debt to equity ratio x 0.1 0.1
Return on assets % 13.1 12.1
Return on equity % 27.2 22.4
Return on capital employed % 26.8 23.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how BALRAMPUR CHINI has performed over the last 5 years, please visit here.

BALRAMPUR CHINI Share Price Performance

Over the last one year, BALRAMPUR CHINI share price has moved up from Rs 153.8 to Rs 164.6, registering a gain of Rs 10.8 or around 7.0%.

Overall, the S&P BSE SENSEX is up 5.2% over the year.

(To know more, check out historical annual results for BALRAMPUR CHINI and quarterly results for BALRAMPUR CHINI)

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Related Views on News

BALRAMPUR CHINI Announces Quarterly Results (3QFY20); Net Profit Down 41.8% (Quarterly Result Update)

Feb 12, 2020 | Updated on Feb 12, 2020

For the quarter ended December 2019, BALRAMPUR CHINI has posted a net profit of Rs 700 m (down 41.8% YoY). Sales on the other hand came in at Rs 12 bn (up 27.1% YoY). Read on for a complete analysis of BALRAMPUR CHINI's quarterly results.

BALRAMPUR CHINI Announces Quarterly Results (1QFY20); Net Profit Up 45.0% (Quarterly Result Update)

Aug 8, 2019 | Updated on Aug 8, 2019

For the quarter ended June 2019, BALRAMPUR CHINI has posted a net profit of Rs 1 bn (up 45.0% YoY). Sales on the other hand came in at Rs 9 bn (down 5.4% YoY). Read on for a complete analysis of BALRAMPUR CHINI's quarterly results.

BALRAMPUR CHINI 2017-18 Annual Report Analysis (Annual Result Update)

Dec 21, 2018 | Updated on Dec 21, 2018

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

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