ESCORTS LIMITED 2018-19 Annual Report Analysis

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ESCORTS LIMITED 2018-19 Annual Report Analysis
Fri, 18 Oct

ESCORTS LIMITED 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.

ESCORTS LIMITED Income Statement Analysis

  • Operating income during the year rose 23.8% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 30.9% YoY during the fiscal. Operating profit margins witnessed a growth and stood at 11.6% in FY19 as against 10.9% in FY18.
  • Depreciation charges increased by 19.1% and finance costs decreased by 33.7% YoY, respectively.
  • Other income grew by 41.5% YoY.
  • Net profit for the year grew by 37.5% YoY.
  • Net profit margins during the year grew from 6.8% in FY18 to 7.5% in FY19.

ESCORTS LIMITED Income Statement 2018-19

No. of Mths Year Ending12 Mar-18*12 Mar-19*% Change
Net SalesRs m50,59362,62023.8%
Other incomeRs m65392441.5%
Total RevenuesRs m51,24763,54424.0%
Gross profitRs m5,5367,24530.9%
DepreciationRs m73287219.1%
InterestRs m295195-33.7%
Profit before taxRs m5,1627,10237.6%
TaxRs m1,6252,37145.9%
Profit after taxRs m3,4664,76737.5%
Gross profit margin%10.911.6
Effective tax rate%31.533.4
Net profit margin%6.87.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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ESCORTS LIMITED Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 19 billion as compared to Rs 17 billion in FY18, thereby witnessing an increase of 13.9%.
  • Long-term debt down at Rs 35 million as compared to Rs 147 million during FY18, a fall of 76.0%.
  • Current assets rose 29% and stood at Rs 28 billion, while fixed assets rose 10% and stood at Rs 18 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 47 billion as against Rs 40 billion during FY18, thereby witnessing a growth of 18%.

ESCORTS LIMITED Balance Sheet as on March 2019

No. of Mths Year Ending12 Mar-18*12 Mar-19*% Change
NetworthRs m22,15126,73520.7
 
Current LiabilitiesRs m16,84119,18713.9
Long-term DebtRs m14735-76.0
Total LiabilitiesRs m39,73347,08218.5
 
Current assetsRs m21,43927,56028.6
Fixed AssetsRs m 16,54218,1239.6
Total AssetsRs m39,73347,08218.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ESCORTS LIMITED Cash Flow Statement Analysis

  • ESCORTS LIMITED's cash flow from operating activities (CFO) during FY19 stood at Rs -2 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -174 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs 2 billion, an improvement of 19,382% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -611 million from the Rs 849 million net cash flows seen during FY18.

ESCORTS LIMITED Cash Flow Statement 2018-19

ParticularsNo. of months1212% Change
Year EndingMar-18Mar-19
Cash Flow from Operating ActivitiesRs m4,601-2,343-
Cash Flow from Investing ActivitiesRs m-3,742-174-
Cash Flow from Financing ActivitiesRs m-101,909-
Net Cash FlowRs m849-611-
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for ESCORTS LIMITED

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 38.9, an improvement from the EPS of Rs 28.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 648.6, stands at 17.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.6 times, while the price to sales ratio stands at 1.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 14.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending12 Mar-18*12 Mar-19*
Sales per share (Unadj.)Rs412.7510.9
TTM Earnings per shareRs28.338.9
Diluted earnings per shareRs28.338.9
Price to Cash Flow x18.914.1
TTM P/E ratiox17.617.6
Price / Book Value ratiox4.03.6
Market CapRs m79,50579,505
Dividends per share (Unadj.)Rs2.02.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for ESCORTS LIMITED

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.4x during FY19, from 1.3x 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 37.3x during FY19, from 18.5x 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 17.8% during FY19, from 15.6% 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 27.4% during FY19, from 24.2% 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 10.5% during FY19, from 9.5% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending12 Mar-18*12 Mar-19*
Current ratiox1.31.4
Debtors’ DaysDays4354
Interest coveragex18.537.3
Debt to equity ratiox0.00.0
Return on assets%9.510.5
Return on equity%15.617.8
Return on capital employed%24.227.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

ESCORTS LIMITED Share Price Performance

Over the last one year, ESCORTS LIMITED share price has moved up from Rs 617.9 to Rs 648.6, registering a gain of Rs 30.8 or around 5.0%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 17,764.2 (up 0.3%). Over the last one year it has moved down from 19,853.6 to 17,764.2, a loss of 2,089 points (down 10.5%).

Overall, the S&P BSE SENSEX is up 12.8% over the year.

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

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Related Views on News

ESCORTS LIMITED Announces Quarterly Results (3QFY21); Net Profit Up 83.4% (Quarterly Result Update)

Feb 5, 2021 | Updated on Feb 5, 2021

For the quarter ended December 2020, ESCORTS LIMITED has posted a net profit of Rs 3 bn (up 83.4% YoY). Sales on the other hand came in at Rs 20 bn (up 23.5% YoY). Read on for a complete analysis of ESCORTS LIMITED's quarterly results.

ESCORTS LIMITED Announces Quarterly Results (2QFY21); Net Profit Up 124.9% (Quarterly Result Update)

Nov 6, 2020 | Updated on Nov 6, 2020

For the quarter ended September 2020, ESCORTS LIMITED has posted a net profit of Rs 2 bn (up 124.9% YoY). Sales on the other hand came in at Rs 16 bn (up 22.9% YoY). Read on for a complete analysis of ESCORTS LIMITED's quarterly results.

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