BALRAMPUR CHINI 2020-21 Annual Report Analysis

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BALRAMPUR CHINI 2020-21 Annual Report Analysis
Fri, 22 Oct

BALRAMPUR CHINI 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.

BALRAMPUR CHINI Income Statement Analysis

  • Operating income during the year rose 1.5% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 4.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 14.8% in FY21 as against 14.4% in FY20.
  • Depreciation charges increased by 10.3% and finance costs decreased by 38.8% YoY, respectively.
  • Other income declined by 36.3% YoY.
  • Net profit for the year declined by 10.0% YoY.
  • Net profit margins during the year declined from 10.7% in FY20 to 9.5% in FY21.

BALRAMPUR CHINI Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 47,413 48,117 1.5%
Other income Rs m 439 279 -36.3%
Total Revenues Rs m 47,852 48,396 1.1%
Gross profit Rs m 6,820 7,128 4.5%
Depreciation Rs m 1,014 1,119 10.3%
Interest Rs m 642 393 -38.8%
Profit before tax Rs m 5,603 5,896 5.2%
Tax Rs m 487 1,294 165.7%
Profit after tax Rs m 5,115 4,602 -10.0%
Gross profit margin % 14.4 14.8
Effective tax rate % 8.7 21.9
Net profit margin % 10.7 9.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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BALRAMPUR CHINI Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 17 billion as compared to Rs 20 billion in FY20, thereby witnessing an decrease of -15.0%.
  • Long-term debt down at Rs 2 billion as compared to Rs 3 billion during FY20, a fall of 28.5%.
  • Current assets fell 6% and stood at Rs 28 billion, while fixed assets rose 4% and stood at Rs 25 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 52 billion as against Rs 53 billion during FY20, thereby witnessing a fall of 1%.

BALRAMPUR CHINI Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 24,157 26,191 8.4
 
Current Liabilities Rs m 19,917 16,921 -15.0
Long-term Debt Rs m 3,403 2,433 -28.5
Total Liabilities Rs m 52,787 52,083 -1.3
 
Current assets Rs m 29,164 27,544 -5.6
Fixed Assets Rs m 23,623 24,539 3.9
Total Assets Rs m 52,787 52,083 -1.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



BALRAMPUR CHINI Cash Flow Statement Analysis

  • BALRAMPUR CHINI's cash flow from operating activities (CFO) during FY21 stood at Rs 6 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -811 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -6 billion on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -10 million from the Rs -6 million net cash flows seen during FY20.

BALRAMPUR CHINI 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 8,496 6,490 -23.6%
Cash Flow from Investing Activities Rs m -3,047 -811 -
Cash Flow from Financing Activities Rs m -5,455 -5,689 -
Net Cash Flow Rs m -6 -10 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for BALRAMPUR CHINI

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 21.9, an decline from the EPS of Rs 23.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 327.6, stands at 17.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.2 times, while the price to sales ratio stands at 0.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 12.0 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 215.5 229.1
TTM Earnings per share Rs 23.3 21.9
Diluted earnings per share Rs 24.4 21.9
Price to Cash Flow x 11.8 12.0
TTM P/E ratio x 18.1 17.2
Price / Book Value ratio x 1.2 1.2
Market Cap Rs m 72,072 68,796
Dividends per share (Unadj.) Rs 2.5 2.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for BALRAMPUR CHINI

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.6x 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 16.0x during FY21, from 9.7x 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 declined and down at 17.6% during FY21, from 21.2% 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 22.0% during FY21, from 22.7% 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 declined and down at 9.6% during FY21, from 10.9% 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 1.6
Debtors’ Days Days 184 186
Interest coverage x 9.7 16.0
Debt to equity ratio x 0.1 0.1
Return on assets % 10.9 9.6
Return on equity % 21.2 17.6
Return on capital employed % 22.7 22.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, 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 157.0 to Rs 327.6, registering a gain of Rs 170.6 or around 108.7%.

Overall, the S&P BSE SENSEX is up 50.5% 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 (1QFY22); Net Profit Down 46.0% (Quarterly Result Update)

Aug 11, 2021 | Updated on Aug 11, 2021

For the quarter ended June 2021, BALRAMPUR CHINI has posted a net profit of Rs 719 m (down 46.0% YoY). Sales on the other hand came in at Rs 11 bn (down 20.3% YoY). Read on for a complete analysis of BALRAMPUR CHINI's quarterly results.

BALRAMPUR CHINI Announces Quarterly Results (4QFY21); Net Profit Down 2.6% (Quarterly Result Update)

Jul 8, 2021 | Updated on Jul 8, 2021

For the quarter ended March 2021, BALRAMPUR CHINI has posted a net profit of Rs 2 bn (down 2.6% YoY). Sales on the other hand came in at Rs 10 bn (down 41.4% YoY). Read on for a complete analysis of BALRAMPUR CHINI's quarterly results.

BALRAMPUR CHINI 2019-20 Annual Report Analysis (Annual Result Update)

Oct 20, 2020 | Updated on Oct 20, 2020

Here's an analysis of the annual report of BALRAMPUR CHINI for 2019-20. 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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