DB REALTY 2017-18 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?  

DB REALTY 2017-18 Annual Report Analysis
Tue, 18 Dec

DB REALTY 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.

DB REALTY Income Statement Analysis

  • Operating income during the year fell 14.9% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 233.7% YoY during the fiscal. Operating profit margins witnessed a growth and stood at 262.8% in FY18 as against 67.0% in FY17.
  • Depreciation charges decreased by 45.4% and finance costs increased by 30.4% YoY, respectively.
  • Other income grew by 6.1% YoY.
  • Net profit for the year grew by 321.1% YoY.
  • Net profit margins during the year declined from 25.8% in FY17 to 113.3% in FY18.

DB REALTY Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 1,409 1,199 -14.9%
Other income Rs m 1,475 1,566 6.1%
Total Revenues Rs m 2,884 2,764 -4.2%
Gross profit Rs m -944 -3,150 233.7%
Depreciation Rs m 108 59 -45.4%
Interest Rs m 956 1,247 30.4%
Profit before tax Rs m -533 -2,891 442.4%
Tax Rs m 270 75 -72.2%
Profit after tax Rs m -744 -3,132 321.1%
Gross profit margin % -67.0 -262.8
Effective tax rate % -50.6 -2.6
Net profit margin % -25.8 -113.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



DB REALTY Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 30 billion as compared to Rs 25 billion in FY17, thereby witnessing an increase of 18.0%.
  • Long-term debt stood at Rs 12 billion as compared to Rs 11 billion during FY17, a growth of 6.5%.
  • Current assets rose 6% and stood at Rs 42 billion, while fixed assets fell 19% and stood at Rs 3 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 66 billion as against Rs 65 billion during FY17, thereby witnessing a growth of 2%.

DB REALTY Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 27,743 24,445 -11.9
 
Current Liabilities Rs m 25,239 29,791 18.0
Long-term Debt Rs m 11,119 11,841 6.5
Total Liabilities Rs m 65,116 66,333 1.9
 
Current assets Rs m 39,808 42,187 6.0
Fixed Assets Rs m 4,309 3,487 -19.1
Total Assets Rs m 65,116 66,333 1.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



DB REALTY Cash Flow Statement Analysis

  • DB REALTY's cash flow from operating activities (CFO) during FY18 stood at Rs -383 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 2 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -1 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 242 million from the Rs -1 billion net cash flows seen during FY17.

DB REALTY Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 5,546 -383 -
Cash Flow from Investing Activities Rs m -5,880 1,649 -
Cash Flow from Financing Activities Rs m -935 -1,024 -
Net Cash Flow Rs m -1,269 242 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for DB REALTY

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -12.9, an decline from the EPS of Rs -3.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 25.0, stands at -7.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.6 times, while the price to sales ratio stands at 12.0 times.
  • The company's price to cash flow (P/CF) ratio stood at -2.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 5.8 4.9
TTM Earnings per share Rs -3.1 -12.9
Diluted earnings per share Rs -3.1 -12.9
Price to Cash Flow x -8.7 -2.1
TTM P/E ratio x -7.5 -7.5
Price / Book Value ratio x 0.4 0.6
Market Cap Rs m 6,069 6,069
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for DB REALTY

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.4x during FY18, from 1.6x 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 -1.3x during FY18, from 0.4x 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 -12.8% during FY18, from -2.7% 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 -5.0% during FY18, from 1.2% 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 -2.8% during FY18, from 0.3% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 1.6 1.4
Debtors’ Days Days 203 171
Interest coverage x 0.4 -1.3
Debt to equity ratio x 0.4 0.5
Return on assets % 0.3 -2.8
Return on equity % -2.7 -12.8
Return on capital employed % 1.2 -5.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

DB REALTY Share Price Performance

Over the last one year, DB REALTY share price has moved up from Rs 34.8 to Rs 25.0, registering a loss of Rs 9.8 or around 28.2%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,836.8 (up 0.3%). Over the last one year it has moved down from 2,378.1 to 1,836.8, a loss of 541 points (down 22.8%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

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

Equitymaster requests your view! Post a comment on "DB REALTY 2017-18 Annual Report Analysis". Click here!

  

Related Views on News

DB REALTY Announces Quarterly Results (4QFY19); Net Profit Down 7.2% (Quarterly Result Update)

Jun 13, 2019 | Updated on Jun 13, 2019

For the quarter ended March 2019, DB REALTY has posted a net profit of Rs 882 m (down 7.2% YoY). Sales on the other hand came in at Rs 14 m (up 440.0% YoY). Read on for a complete analysis of DB REALTY's quarterly results.

DB REALTY Announces Quarterly Results (3QFY19); Net Profit Down 146.7% (Quarterly Result Update)

Feb 20, 2019 | Updated on Feb 20, 2019

For the quarter ended December 2018, DB REALTY has posted a net profit of Rs 108 m (down 146.7% YoY). Sales on the other hand came in at Rs 2 m (down 59.9% YoY). Read on for a complete analysis of DB REALTY's quarterly results.

IRCON International IPO: Is This PSU Worth Betting On? (IPO)

Sep 17, 2018

Should you subscribe to the IPO of IRCON International Ltd?

More Views on News

Most Popular

My 3 Best Small-cap Stocks to Get Rich in this Market Rebound(Profit Hunter)

Oct 14, 2019

This is once in a decade opportunity to make a killing from smallcap rebound.

Finally, Is the Share Price of Yes Bank Ready for a Rebound?(The 5 Minute Wrapup)

Oct 7, 2019

Here's what every individual investor must know about Yes Bank...

What if Indiabulls Housing Finance and Yes Bank Do Not Rebound?(Profit Hunter)

Oct 1, 2019

How long should you wait for fallen blue chips like Yes Bank and Indiabulls Housing Finance to rebound?

The One Stock I Like in this Market(The 5 Minute Wrapup)

Oct 10, 2019

There are rare periods in markets when you get good quality stocks at attractive valuations. Is this one such period?

5 Smart Money Stocks to Profit from the Market Rebound(The 5 Minute Wrapup)

Oct 11, 2019

Now is the time to put money in these 5 stocks to take advantage of the recovery in the economy and the markets.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2020
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK DB REALTY

  • Track your investment in DB REALTY with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

DB REALTY 8-QTR ANALYSIS

COMPARE DB REALTY WITH

MARKET STATS