DEEPAK NITRITE 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?  

DEEPAK NITRITE 2018-19 Annual Report Analysis
Thu, 6 Jun

DEEPAK NITRITE 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.

DEEPAK NITRITE Income Statement Analysis

  • Operating income during the year rose 63.5% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 110.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 15.3% in FY19 as against 11.9% in FY18.
  • Depreciation charges increased by 47.9% and finance costs increased by 84.4% YoY, respectively.
  • Other income grew by 22.9% YoY.
  • Net profit for the year grew by 119.8% YoY.
  • Net profit margins during the year grew from 4.7% in FY18 to 6.4% in FY19.

DEEPAK NITRITE Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 16,515 26,999 63.5%
Other income Rs m 123 151 22.9%
Total Revenues Rs m 16,638 27,150 63.2%
Gross profit Rs m 1,963 4,139 110.9%
Depreciation Rs m 526 778 47.9%
Interest Rs m 452 833 84.4%
Profit before tax Rs m 1,109 2,680 141.8%
Tax Rs m 318 943 196.3%
Profit after tax Rs m 790 1,737 119.8%
Gross profit margin % 11.9 15.3
Effective tax rate % 28.7 35.2
Net profit margin % 4.7 6.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



DEEPAK NITRITE Balance Sheet Analysis

  • The company's current liabilities during FY19 down at Rs 9 billion as compared to Rs 10 billion in FY18, thereby witnessing an decrease of -15.7%.
  • Long-term debt stood at Rs 9 billion as compared to Rs 6 billion during FY18, a growth of 58.0%.
  • Current assets rose 17% and stood at Rs 12 billion, while fixed assets rose 13% and stood at Rs 17 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 29 billion as against Rs 26 billion during FY18, thereby witnessing a growth of 13%.

DEEPAK NITRITE Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 9,221 10,716 16.2
 
Current Liabilities Rs m 10,476 8,836 -15.7
Long-term Debt Rs m 5,505 8,699 58.0
Total Liabilities Rs m 25,906 29,278 13.0
 
Current assets Rs m 9,929 11,617 17.0
Fixed Assets Rs m 15,421 17,497 13.5
Total Assets Rs m 25,906 29,278 13.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



DEEPAK NITRITE Cash Flow Statement Analysis

  • DEEPAK NITRITE's cash flow from operating activities (CFO) during FY19 stood at Rs 637 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -2 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs 924 million on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -65 million from the Rs 36 million net cash flows seen during FY18.

DEEPAK NITRITE 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 1,830 637 -65.2%
Cash Flow from Investing Activities Rs m -5,247 -1,626 -
Cash Flow from Financing Activities Rs m 3,453 924 -73.2%
Net Cash Flow Rs m 36 -65 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for DEEPAK NITRITE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 12.7, an improvement from the EPS of Rs 5.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 327.5, stands at 32.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.2 times, while the price to sales ratio stands at 1.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 17.8 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 121.1 198.0
TTM Earnings per share Rs 5.8 12.7
Diluted earnings per share Rs 5.8 12.7
Price to Cash Flow x 33.9 17.8
TTM P/E ratio x 32.4 32.4
Price / Book Value ratio x 3.2 3.2
Market Cap Rs m 44,668 44,669
Dividends per share (Unadj.) Rs 1.3 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for DEEPAK NITRITE

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.3x during FY19, from 0.9x 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 improved and stood at 4.2x during FY19, from 3.5x 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 16.2% during FY19, from 8.6% 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 18.1% during FY19, from 10.6% 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 8.8% during FY19, from 4.8% 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 0.9 1.3
Debtors’ Days Days 91 78
Interest coverage x 3.5 4.2
Debt to equity ratio x 0.6 0.8
Return on assets % 4.8 8.8
Return on equity % 8.6 16.2
Return on capital employed % 10.6 18.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

DEEPAK NITRITE Share Price Performance

Over the last one year, DEEPAK NITRITE share price has moved up from Rs 226.1 to Rs 327.5, registering a gain of Rs 101.5 or around 44.9%.

Overall, the S&P BSE SENSEX is up 12.9% over the year.

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

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

  

Related Views on News

DEEPAK NITRITE Announces Quarterly Results (4QFY20); Net Profit Up 105.5% (Quarterly Result Update)

May 29, 2020 | Updated on May 29, 2020

For the quarter ended March 2020, DEEPAK NITRITE has posted a net profit of Rs 1 bn (up 105.5% YoY). Sales on the other hand came in at Rs 5 bn (up 8.1% YoY). Read on for a complete analysis of DEEPAK NITRITE's quarterly results.

DEEPAK NITRITE Announces Quarterly Results (2QFY20); Net Profit Up 536.4% (Quarterly Result Update)

Nov 1, 2019 | Updated on Nov 1, 2019

For the quarter ended September 2019, DEEPAK NITRITE has posted a net profit of Rs 2 bn (up 536.4% YoY). Sales on the other hand came in at Rs 6 bn (up 31.5% YoY). Read on for a complete analysis of DEEPAK NITRITE's quarterly results.

More Views on News

Most Popular

These 5 Smallcaps Deserve a Place in Your Coffee Can Portfolio(Profit Hunter)

Jul 28, 2020

When it comes to quality stocks, doing less is more.

Before You Buy Your First Electric Vehicle Consider Buying this Stock(Profit Hunter)

Jul 29, 2020

As competition intensifies in the electric vehicle space, only few will create huge wealth over the years.

How to Buy Gold and Silver(Fast Profits Daily)

Jul 27, 2020

In this video I'll show you how to buy bullion the right way.

Elon Musk Gives Us a Trading Opportunity(Fast Profits Daily)

Jul 28, 2020

Elon Musk made a statement recently which I believe, gives us a fast profit trading opportunity.

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 DEEPAK NITRITE

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

MORE ON DEEPAK NITRITE

DEEPAK NITRITE 8-QTR ANALYSIS

COMPARE DEEPAK NITRITE WITH

MARKET STATS