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CG POWER & INDUSTRIAL SOLUTIONS LTD 2017-18 Annual Report Analysis

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CG POWER & INDUSTRIAL SOLUTIONS LTD 2017-18 Annual Report Analysis
Mon, 15 Oct

CG POWER & INDUSTRIAL SOLUTIONS LTD has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

CG POWER & INDUSTRIAL SOLUTIONS LTD Income Statement Analysis

  • Operating income during the year rose 12.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 2.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 7.4% in FY18 as against 8.0% in FY17.
  • Depreciation charges and finance costs increased by 4.4% YoY and 17.8% YoY, respectively.
  • Other income declined by 41.5% YoY.
  • Net profit for the year declined by 601.1% YoY.
  • Net profit margins during the year declined from 1.4% in FY17 to 6.3% in FY18.

CG POWER & INDUSTRIAL SOLUTIONS LTD Income Statement 2017-18

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
Net SalesRs m55,16561,88612.2%
Other incomeRs m676395-41.5%
Total RevenuesRs m55,84162,28211.5%
Gross profitRs m4,4244,5502.9%
DepreciationRs m1,4291,4924.4%
InterestRs m1,8612,19317.8%
Profit before taxRs m1,8091,260-30.3%
TaxRs m281749166.3%
Profit after taxRs m785-3,934-601.1%
Gross profit margin%8.07.4
Effective tax rate%15.559.4
Net profit margin%1.4-6.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



CG POWER & INDUSTRIAL SOLUTIONS LTD Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 22 billion as compared to Rs 21 billion in FY17, thereby witnessing an increase of 5.1%.
  • Long-term debt stood at Rs 8 billion as compared to Rs 5 billion during FY17, a growth of 66.2%.
  • Current assets fell 17% and stood at Rs 42 billion, while fixed assets rose 1% and stood at Rs 14 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 91 billion as against Rs 102 billion during FY17, thereby witnessing a fall of 10%.

CG POWER & INDUSTRIAL SOLUTIONS LTD Balance Sheet as on March 2018

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
NetworthRs m41,11127,141-34.0
 
Current LiabilitiesRs m20,99222,0625.1
Long-term DebtRs m5,0388,37266.2
Total LiabilitiesRs m101,88191,194-10.5
 
Current assetsRs m50,57841,983-17.0
Fixed AssetsRs m 14,04514,1791.0
Total AssetsRs m101,88191,194-10.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



CG POWER & INDUSTRIAL SOLUTIONS LTD Cash Flow Statement Analysis

  • CG POWER & INDUSTRIAL SOLUTIONS LTD's cash flow from operating activities (CFO) during FY18 stood at Rs -4 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -412 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -541 million from the Rs 71 million net cash flows seen during FY17.

CG POWER & INDUSTRIAL SOLUTIONS LTD Cash Flow Statement 2017-18

ParticularsNo. of months1212% Change
Year EndingMar-17Mar-18
Cash Flow from Operating ActivitiesRs m-5,400-3,601-
Cash Flow from Investing ActivitiesRs m4,9683,473-30.1%
Cash Flow from Financing ActivitiesRs m502-412-
Net Cash FlowRs m71-541-
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for CG POWER & INDUSTRIAL SOLUTIONS LTD

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -6.3, an decline from the EPS of Rs 1.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 40.7, stands at 25.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.9 times, while the price to sales ratio stands at 0.8 times.
  • The company's price to cash flow (P/CF) ratio stood at -37.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Sales per share (Unadj.)Rs88.098.7
TTM Earnings per shareRs1.3-6.3
Diluted earnings per shareRs0.4-1.8
Price to Cash Flow x11.4-37.1
TTM P/E ratiox7.325.9
Price / Book Value ratiox1.01.9
Market CapRs m25,47790,015
Dividends per share (Unadj.)Rs0.00.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for CG POWER & INDUSTRIAL SOLUTIONS LTD

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.9x during FY18, from 2.4x during FY17. 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 1.6x during FY18, from 2.0x during FY17. 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 -14.5% during FY18, from 1.9% during FY18. 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 -2.8% during FY18, from 6.3% during FY17. 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 -1.9% during FY18, from 2.6% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Current ratiox2.41.9
Debtors’ DaysDays124119
Interest coveragex2.01.6
Debt to equity ratiox0.10.3
Return on assets%2.6-1.9
Return on equity%1.9-14.5
Return on capital employed%6.3-2.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how CG POWER & INDUSTRIAL SOLUTIONS LTD has performed over the last 5 years, please visit here.

CG POWER & INDUSTRIAL SOLUTIONS LTD Share Price Performance

Over the last one year, CG POWER & INDUSTRIAL SOLUTIONS LTD share price has moved up from Rs 78.4 to Rs 40.7, registering a loss of Rs 37.7 or around 48.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,728.8 (down 0.7%). Over the last one year it has moved down from 17,399.1 to 16,728.8, a loss of 670 points (down 3.9%).

Overall, the S&P BSE SENSEX is up 7.9% over the year.

(To know more, check out historical annual results for CG POWER & INDUSTRIAL SOLUTIONS LTD and quarterly results for CG POWER & INDUSTRIAL SOLUTIONS LTD)

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CG POWER & INDUSTRIAL SOLUTIONS LTD Announces Quarterly Results (2QFY19); Net Profit Down 46.2% (Quarterly Result Update)

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