EVEREST INDUSTRIES 2018-19 Annual Report Analysis

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EVEREST INDUSTRIES 2018-19 Annual Report Analysis
Mon, 23 Sep

EVEREST INDUSTRIES 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.

EVEREST INDUSTRIES Income Statement Analysis

  • Operating income during the year rose 13.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 16.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 7.4% in FY19 as against 7.2% in FY18.
  • Depreciation charges decreased by 12.7% and finance costs decreased by 39.4% YoY, respectively.
  • Other income declined by 35.6% YoY.
  • Net profit for the year grew by 16.6% YoY.
  • Net profit margins during the year grew from 4.2% in FY18 to 4.4% in FY19.

EVEREST INDUSTRIES Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 12,441 14,083 13.2%
Other income Rs m 100 65 -35.6%
Total Revenues Rs m 12,542 14,148 12.8%
Gross profit Rs m 899 1,046 16.3%
Depreciation Rs m 236 206 -12.7%
Interest Rs m 126 76 -39.4%
Profit before tax Rs m 638 829 29.9%
Tax Rs m 108 210 95.4%
Profit after tax Rs m 531 619 16.6%
Gross profit margin % 7.2 7.4
Effective tax rate % 16.8 25.4
Net profit margin % 4.2 4.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



EVEREST INDUSTRIES Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 4 billion as compared to Rs 3 billion in FY18, thereby witnessing an increase of 15.7%.
  • Long-term debt down at Rs 467 million as compared to Rs 511 million during FY18, a fall of 8.7%.
  • Current assets rose 28% and stood at Rs 5 billion, while fixed assets rose 0% and stood at Rs 4 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 9 billion as against Rs 8 billion during FY18, thereby witnessing a growth of 12%.

EVEREST INDUSTRIES Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 3,981 4,514 13.4
 
Current Liabilities Rs m 3,242 3,750 15.7
Long-term Debt Rs m 511 467 -8.7
Total Liabilities Rs m 8,021 9,021 12.5
 
Current assets Rs m 3,884 4,990 28.5
Fixed Assets Rs m 3,611 3,627 0.4
Total Assets Rs m 8,021 9,021 12.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



EVEREST INDUSTRIES Cash Flow Statement Analysis

  • EVEREST INDUSTRIES's cash flow from operating activities (CFO) during FY19 stood at Rs 346 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -223 million, an improvement of 41.9% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -160 million, an improvement of 87% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -36 million from the Rs 94 million net cash flows seen during FY18.

EVEREST INDUSTRIES 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 1,481 346 -76.6%
Cash Flow from Investing Activities Rs m -157 -223 -
Cash Flow from Financing Activities Rs m -1,230 -160 -
Net Cash Flow Rs m 94 -36 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for EVEREST INDUSTRIES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 39.5, an improvement from the EPS of Rs 33.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 346.0, stands at 8.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.7 times, while the price to sales ratio stands at 0.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 6.4 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 796.0 900.5
TTM Earnings per share Rs 33.9 39.5
Diluted earnings per share Rs 34.7 40.5
Price to Cash Flow x 7.1 6.4
TTM P/E ratio x 9.0 8.8
Price / Book Value ratio x 1.7 1.7
Market Cap Rs m 5,408 5,290
Dividends per share (Unadj.) Rs 6.5 7.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for EVEREST INDUSTRIES

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.3x during FY19, from 1.2x 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 11.9x during FY19, from 6.1x 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 13.7% during FY19, from 13.3% 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 18.2% during FY19, from 17.0% 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 declined and down at 7.7% during FY19, from 8.2% 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 1.2 1.3
Debtors’ Days Days 21 26
Interest coverage x 6.1 11.9
Debt to equity ratio x 0.1 0.1
Return on assets % 8.2 7.7
Return on equity % 13.3 13.7
Return on capital employed % 17.0 18.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

EVEREST INDUSTRIES Share Price Performance

Over the last one year, EVEREST INDUSTRIES share price has moved down from Rs 526.2 to Rs 346.0, registering a loss of Rs 180.2 or around 34.2%.

Overall, the S&P BSE SENSEX is up 5.3% over the year.

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

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EVEREST INDUSTRIES Announces Quarterly Results (2QFY20); Net Profit Down 173.9% (Quarterly Result Update)

Oct 29, 2019 | Updated on Oct 29, 2019

For the quarter ended September 2019, EVEREST INDUSTRIES has posted a net profit of Rs 64 m (down 173.9% YoY). Sales on the other hand came in at Rs 3 bn (down 8.5% YoY). Read on for a complete analysis of EVEREST INDUSTRIES's quarterly results.

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Jul 25, 2019 | Updated on Jul 25, 2019

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Dec 20, 2018 | Updated on Dec 20, 2018

Here's an analysis of the annual report of EVEREST INDUSTRIES for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of EVEREST INDUSTRIES. Also includes updates on the valuation of EVEREST INDUSTRIES.

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