URJA GLOBAL 2020-21 Annual Report Analysis

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URJA GLOBAL 2020-21 Annual Report Analysis
Tue, 2 Nov

URJA GLOBAL 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.

URJA GLOBAL Income Statement Analysis

  • Operating income during the year fell 9.2% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 106.6% YoY during the fiscal. Operating profit margins witnessed a growth and stood at 0.1% in FY21 as against 0.7% in FY20.
  • Depreciation charges increased by 19.2% and finance costs decreased by 20.0% YoY, respectively.
  • Other income grew by 86.3% YoY.
  • Net profit for the year grew by 54.9% YoY.
  • Net profit margins during the year grew from 0.7% in FY20 to 1.1% in FY21.

URJA GLOBAL Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 1,636 1,485 -9.2%
Other income Rs m 18 34 86.3%
Total Revenues Rs m 1,654 1,518 -8.2%
Gross profit Rs m 11 -1 -106.6%
Depreciation Rs m 4 5 19.2%
Interest Rs m 8 6 -20.0%
Profit before tax Rs m 18 22 23.9%
Tax Rs m 6 4 -30.8%
Profit after tax Rs m 11 17 54.9%
Gross profit margin % 0.7 -0.1
Effective tax rate % 36.2 20.2
Net profit margin % 0.7 1.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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URJA GLOBAL Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 4 billion as compared to Rs 3 billion in FY20, thereby witnessing an increase of 11.2%.
  • Long-term debt down at Rs 30 million as compared to Rs 36 million during FY20, a fall of 16.2%.
  • Current assets rose 12% and stood at Rs 4 billion, while fixed assets rose 1% and stood at Rs 1 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 5 billion as against Rs 5 billion during FY20, thereby witnessing a growth of 9%.

URJA GLOBAL Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 1,548 1,628 5.2
 
Current Liabilities Rs m 3,185 3,542 11.2
Long-term Debt Rs m 36 30 -16.2
Total Liabilities Rs m 4,861 5,293 8.9
 
Current assets Rs m 3,482 3,900 12.0
Fixed Assets Rs m 1,380 1,388 0.6
Total Assets Rs m 4,861 5,293 8.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



URJA GLOBAL Cash Flow Statement Analysis

  • URJA GLOBAL's cash flow from operating activities (CFO) during FY21 stood at Rs -72 million, an improvement of 1,023.7% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs 17 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs 55 million, an improvement of 793% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 0 million from the Rs 3 million net cash flows seen during FY20.

URJA GLOBAL 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 -6 -72 -
Cash Flow from Investing Activities Rs m 17 17 -2.9%
Cash Flow from Financing Activities Rs m -8 55 -
Net Cash Flow Rs m 3 0 -100.0%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for URJA GLOBAL

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.0, an improvement from the EPS of Rs 0.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 7.4, stands at 191.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.7 times, while the price to sales ratio stands at 1.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 186.2 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 3.2 2.9
TTM Earnings per share Rs 0.0 0.0
Diluted earnings per share Rs 0.0 0.0
Price to Cash Flow x 246.9 186.2
TTM P/E ratio x 174.5 191.7
Price / Book Value ratio x 0.7 1.7
Market Cap Rs m 3,743 4,112
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for URJA GLOBAL

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.1x during FY21, from 1.1x 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 4.4x during FY21, from 3.2x 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 1.1% during FY21, from 0.7% 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 1.7% during FY21, from 1.6% 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 0.4% during FY21, from 0.4% 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 1.1 1.1
Debtors’ Days Days 696,828,869 889,584,200
Interest coverage x 3.2 4.4
Debt to equity ratio x 0.0 0.0
Return on assets % 0.4 0.4
Return on equity % 0.7 1.1
Return on capital employed % 1.6 1.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how URJA GLOBAL has performed over the last 5 years, please visit here.

URJA GLOBAL Share Price Performance

Over the last one year, URJA GLOBAL share price has moved up from Rs 3.0 to Rs 7.4, registering a gain of Rs 4.4 or around 143.6%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 3,403.7 (up 0.5%). Over the last one year it has moved up from 1,743.6 to 3,403.7, a gain of 1,660 points (up 95.2%).

Overall, the S&P BSE SENSEX is up 51.0% over the year.

(To know more, check out historical annual results for URJA GLOBAL and quarterly results for URJA GLOBAL)

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