COMPUTER AGE MANAGEMENT SERVICES 2020-21 Annual Report Analysis

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COMPUTER AGE MANAGEMENT SERVICES 2020-21 Annual Report Analysis
Wed, 27 Oct

COMPUTER AGE MANAGEMENT SERVICES 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.

COMPUTER AGE MANAGEMENT SERVICES Income Statement Analysis

  • Operating income during the year rose 0.8% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 4.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 39.0% in FY21 as against 40.9% in FY20.
  • Depreciation charges decreased by 15.3% and finance costs decreased by 18.7% YoY, respectively.
  • Other income grew by 137.5% YoY.
  • Net profit for the year grew by 19.4% YoY.
  • Net profit margins during the year grew from 23.8% in FY20 to 27.1% in FY21.

COMPUTER AGE MANAGEMENT SERVICES Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 6,996 7,055 0.8%
Other income Rs m 214 509 137.5%
Total Revenues Rs m 7,211 7,564 4.9%
Gross profit Rs m 2,864 2,749 -4.0%
Depreciation Rs m 513 434 -15.3%
Interest Rs m 97 79 -18.7%
Profit before tax Rs m 2,468 2,745 11.2%
Tax Rs m 749 692 -7.7%
Profit after tax Rs m 1,719 2,053 19.4%
Gross profit margin % 40.9 39.0
Effective tax rate % 30.4 25.2
Net profit margin % 23.8 27.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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COMPUTER AGE MANAGEMENT SERVICES Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 7 billion as compared to Rs 6 billion in FY20, thereby witnessing an increase of 25.7%.
  • Current assets rose 13% and stood at Rs 10 billion, while fixed assets fell 8% and stood at Rs 3 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 13 billion as against Rs 12 billion during FY20, thereby witnessing a growth of 8%.

COMPUTER AGE MANAGEMENT SERVICES Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 5,452 5,046 -7.4
 
Current Liabilities Rs m 5,521 6,940 25.7
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 12,449 13,391 7.6
 
Current assets Rs m 9,221 10,406 12.8
Fixed Assets Rs m 3,228 2,985 -7.5
Total Assets Rs m 12,449 13,391 7.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



COMPUTER AGE MANAGEMENT SERVICES Cash Flow Statement Analysis

  • COMPUTER AGE MANAGEMENT SERVICES's cash flow from operating activities (CFO) during FY21 stood at Rs 3 billion, an improvement of 31.5% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs 46 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -3 billion on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -58 million from the Rs 184 million net cash flows seen during FY20.

COMPUTER AGE MANAGEMENT SERVICES 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 1,989 2,616 31.5%
Cash Flow from Investing Activities Rs m -838 46 -
Cash Flow from Financing Activities Rs m -967 -2,720 -
Net Cash Flow Rs m 184 -58 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for COMPUTER AGE MANAGEMENT SERVICES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 42.1, an improvement from the EPS of Rs 35.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 3,015.0, stands at 64.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 16.0 times, while the price to sales ratio stands at 11.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 59.2 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 143.5 144.6
TTM Earnings per share Rs 35.3 42.1
Diluted earnings per share Rs 35.2 42.0
Price to Cash Flow x 65.9 59.2
TTM P/E ratio x 64.3 64.4
Price / Book Value ratio x 0.0 16.0
Market Cap Rs m 147,011 147,209
Dividends per share (Unadj.) Rs 12.2 62.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for COMPUTER AGE MANAGEMENT SERVICES

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.5x during FY21, from 1.7x 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 35.7x during FY21, from 26.4x 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 40.7% during FY21, from 31.5% 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 56.0% during FY21, from 47.1% 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 15.9% during FY21, from 14.6% 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 1.7 1.5
Debtors’ Days Days 167 150
Interest coverage x 26.4 35.7
Debt to equity ratio x 0.0 0.0
Return on assets % 14.6 15.9
Return on equity % 31.5 40.7
Return on capital employed % 47.1 56.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how COMPUTER AGE MANAGEMENT SERVICES has performed over the last 5 years, please visit here.

COMPUTER AGE MANAGEMENT SERVICES Share Price Performance

Over the last one year, COMPUTER AGE MANAGEMENT SERVICES share price has moved up from Rs 1,335.2 to Rs 3,015.0, registering a gain of Rs 1,679.8 or around 125.8%.

Overall, the S&P BSE SENSEX is up 52.3% over the year.

(To know more, check out historical annual results for COMPUTER AGE MANAGEMENT SERVICES and quarterly results for COMPUTER AGE MANAGEMENT SERVICES)

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