CAMLIN FINE CHEM. 2020-21 Annual Report Analysis

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CAMLIN FINE CHEM. 2020-21 Annual Report Analysis
Thu, 28 Oct

CAMLIN FINE CHEM. 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.

CAMLIN FINE CHEM. Income Statement Analysis

  • Operating income during the year rose 13.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 38.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 15.7% in FY21 as against 12.9% in FY20.
  • Depreciation charges increased by 35.0% and finance costs increased by 1.1% YoY, respectively.
  • Other income grew by 214.8% YoY.
  • Net profit for the year grew by 119.1% YoY.
  • Net profit margins during the year grew from 2.8% in FY20 to 5.5% in FY21.

CAMLIN FINE CHEM. Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 10,491 11,871 13.1%
Other income Rs m 34 108 214.8%
Total Revenues Rs m 10,526 11,979 13.8%
Gross profit Rs m 1,352 1,867 38.1%
Depreciation Rs m 328 443 35.0%
Interest Rs m 476 481 1.1%
Profit before tax Rs m 582 1,051 80.6%
Tax Rs m 284 397 40.1%
Profit after tax Rs m 298 654 119.1%
Gross profit margin % 12.9 15.7
Effective tax rate % 48.7 37.8
Net profit margin % 2.8 5.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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CAMLIN FINE CHEM. Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 5 billion as compared to Rs 5 billion in FY20, thereby witnessing an decrease of -12.8%.
  • Long-term debt stood at Rs 3 billion as compared to Rs 2 billion during FY20, a growth of 29.2%.
  • Current assets rose 18% and stood at Rs 8 billion, while fixed assets rose 26% and stood at Rs 7 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 14 billion as against Rs 12 billion during FY20, thereby witnessing a growth of 21%.

CAMLIN FINE CHEM. Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 4,027 5,920 47.0
 
Current Liabilities Rs m 5,478 4,776 -12.8
Long-term Debt Rs m 2,115 2,733 29.2
Total Liabilities Rs m 11,934 14,486 21.4
 
Current assets Rs m 6,750 7,947 17.7
Fixed Assets Rs m 5,184 6,539 26.1
Total Assets Rs m 11,934 14,486 21.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



CAMLIN FINE CHEM. Cash Flow Statement Analysis

  • CAMLIN FINE CHEM.'s cash flow from operating activities (CFO) during FY21 stood at Rs 1 billion, an improvement of 36.5% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -1 billion, an improvement of 47.4% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs 386 million, an improvement of 1,088% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 232 million from the Rs -8 million net cash flows seen during FY20.

CAMLIN FINE CHEM. 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 860 1,174 36.5%
Cash Flow from Investing Activities Rs m -901 -1,329 -
Cash Flow from Financing Activities Rs m 33 386 1,088.2%
Net Cash Flow Rs m -8 232 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for CAMLIN FINE CHEM.

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 5.1, an improvement from the EPS of Rs 2.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 173.0, stands at 32.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.1 times, while the price to sales ratio stands at 1.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 20.1 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 86.5 93.1
TTM Earnings per share Rs 2.5 5.1
Diluted earnings per share Rs 2.3 5.1
Price to Cash Flow x 33.5 20.1
TTM P/E ratio x 30.6 32.2
Price / Book Value ratio x 1.9 2.1
Market Cap Rs m 20,977 22,071
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for CAMLIN FINE CHEM.

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.7x during FY21, from 1.2x 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 3.2x during FY21, from 2.2x 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 11.0% during FY21, from 7.4% 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 improved and stood at 17.7% during FY21, from 17.2% 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 7.8% during FY21, from 6.5% 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 1.2 1.7
Debtors’ Days Days 880 832
Interest coverage x 2.2 3.2
Debt to equity ratio x 0.5 0.5
Return on assets % 6.5 7.8
Return on equity % 7.4 11.0
Return on capital employed % 17.2 17.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how CAMLIN FINE CHEM. has performed over the last 5 years, please visit here.

CAMLIN FINE CHEM. Share Price Performance

Over the last one year, CAMLIN FINE CHEM. share price has moved up from Rs 97.1 to Rs 173.0, registering a gain of Rs 76.0 or around 78.3%.

Overall, the S&P BSE SENSEX is up 51.2% over the year.

(To know more, check out historical annual results for CAMLIN FINE CHEM. and quarterly results for CAMLIN FINE CHEM.)

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