DABUR 2018-19 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

DABUR 2018-19 Annual Report Analysis
Mon, 30 Sep

DABUR has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

DABUR Income Statement Analysis

  • Operating income during the year rose 10.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 7.6% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 20.4% in FY19 as against 20.9% in FY18.
  • Depreciation charges increased by 9.1% and finance costs increased by 12.3% YoY, respectively.
  • Other income declined by 3.0% YoY.
  • Net profit for the year grew by 6.5% YoY.
  • Net profit margins during the year declined from 16.9% in FY18 to 16.4% in FY19.

DABUR Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 77,219 85,150 10.3%
Other income Rs m 3,052 2,962 -3.0%
Total Revenues Rs m 80,270 88,112 9.8%
Gross profit Rs m 16,177 17,405 7.6%
Depreciation Rs m 1,622 1,769 9.1%
Interest Rs m 531 596 12.3%
Profit before tax Rs m 17,076 18,002 5.4%
Tax Rs m 3,354 2,786 -16.9%
Profit after tax Rs m 13,577 14,463 6.5%
Gross profit margin % 20.9 20.4
Effective tax rate % 19.6 15.5
Net profit margin % 16.9 16.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



REVEALED: How to Potentially Increase Your Monthly Income Without Working 24x7

DABUR Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 27 billion as compared to Rs 24 billion in FY18, thereby witnessing an increase of 9.3%.
  • Long-term debt down at Rs 261 million as compared to Rs 4 billion during FY18, a fall of 92.9%.
  • Current assets rose 4% and stood at Rs 36 billion, while fixed assets rose 23% and stood at Rs 20 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 84 billion as against Rs 87 billion during FY18, thereby witnessing a fall of 3%.

DABUR Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 57,065 56,317 -1.3
 
Current Liabilities Rs m 24,344 26,603 9.3
Long-term Debt Rs m 3,643 261 -92.9
Total Liabilities Rs m 87,016 84,366 -3.0
 
Current assets Rs m 34,398 35,862 4.3
Fixed Assets Rs m 16,478 20,328 23.4
Total Assets Rs m 87,016 84,366 -3.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



DABUR Cash Flow Statement Analysis

  • DABUR's cash flow from operating activities (CFO) during FY19 stood at Rs 15 billion, an improvement of 37.3% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -19 billion on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -515 million from the Rs -265 million net cash flows seen during FY18.

DABUR Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 10,915 14,991 37.3%
Cash Flow from Investing Activities Rs m -5,400 3,369 -
Cash Flow from Financing Activities Rs m -5,771 -18,882 -
Net Cash Flow Rs m -265 -515 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for DABUR

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 8.2, an improvement from the EPS of Rs 7.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 446.0, stands at 53.0 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 12.8 times, while the price to sales ratio stands at 8.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 48.3 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 43.8 48.2
TTM Earnings per share Rs 7.7 8.2
Diluted earnings per share Rs 7.7 8.2
Price to Cash Flow x 51.7 48.3
TTM P/E ratio x 53.1 53.0
Price / Book Value ratio x 9.8 12.8
Market Cap Rs m 785,541 783,316
Dividends per share (Unadj.) Rs 7.5 2.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for DABUR

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.3x during FY19, from 1.4x during FY18. 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 31.2x during FY19, from 33.2x during FY18. 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 25.7% during FY19, from 23.8% during FY19. 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 31.5% during FY19, from 28.8% during FY18. 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 17.8% during FY19, from 16.2% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 1.4 1.3
Debtors’ Days Days 33 36
Interest coverage x 33.2 31.2
Debt to equity ratio x 0.1 0.0
Return on assets % 16.2 17.8
Return on equity % 23.8 25.7
Return on capital employed % 28.8 31.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

DABUR Share Price Performance

Over the last one year, DABUR share price has moved up from Rs 427.6 to Rs 446.0, registering a gain of Rs 18.4 or around 4.3%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,711.6 (down 0.2%). Over the last one year it has moved up from 11,502.8 to 11,711.6, a gain of 209 points (up 1.8%).

Overall, the S&P BSE SENSEX is up 6.0% over the year.

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

Equitymaster requests your view! Post a comment on "DABUR 2018-19 Annual Report Analysis". Click here!

1 Responses to "DABUR 2018-19 Annual Report Analysis"

Lokesh

Nov 28, 2020

Please send the full analysis

Like 
  
Equitymaster requests your view! Post a comment on "DABUR 2018-19 Annual Report Analysis". Click here!

Related Views on News

DABUR Announces Quarterly Results (2QFY21); Net Profit Up 19.8% (Quarterly Result Update)

Nov 6, 2020 | Updated on Nov 6, 2020

For the quarter ended September 2020, DABUR has posted a net profit of Rs 5 bn (up 19.8% YoY). Sales on the other hand came in at Rs 25 bn (up 13.7% YoY). Read on for a complete analysis of DABUR's quarterly results.

DABUR 2019-20 Annual Report Analysis (Annual Result Update)

Nov 4, 2020 | Updated on Nov 4, 2020

Here's an analysis of the annual report of DABUR for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of DABUR. Also includes updates on the valuation of DABUR.

DABUR Announces Quarterly Results (1QFY21); Net Profit Down 6.1% (Quarterly Result Update)

Aug 24, 2020 | Updated on Aug 24, 2020

For the quarter ended June 2020, DABUR has posted a net profit of Rs 3 bn (down 6.1% YoY). Sales on the other hand came in at Rs 20 bn (down 12.9% YoY). Read on for a complete analysis of DABUR's quarterly results.

More Views on News

Most Popular

Not Infosys or Wipro. India's Next Wealth Creators Could Be Drone Stocks(Profit Hunter)

Nov 25, 2020

India's drones directorate signals the next big defence tech multibaggers.

It's Time to Book Profits(Fast Profits Daily)

Nov 27, 2020

In my first video on Equitymaster, I want to introduce you my proprietary greed and fear index. It's telling us to book some profits in the market.

How the New Margins Will Impact You(Fast Profits Daily)

Nov 25, 2020

The new rules on margins will come into effect from 1st December. Are you ready?

Create Wealth for Yourself in India's Drone Revolution(Profit Hunter)

Nov 27, 2020

The Chinese drone market is 14 times that of India's. Billions may flow into Indian drone companies too. Don't miss out on this wealth creating opportunity.

The Price of Dying, the Cost of Living(The Honest Truth)

Nov 20, 2020

Ajit Dayal presents a cost benefit analysis of the various types of response to covid around the world.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

TRACK DABUR

COMPARE DABUR WITH

MARKET STATS