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SCHAEFFLER INDIA 2018-19 Annual Report Analysis
Tue, 31 Dec

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

SCHAEFFLER INDIA Income Statement Analysis

  • Operating income during the year fell 4.4% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 3.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 14.5% in CY19 as against 14.3% in CY18.
  • Depreciation charges increased by 6.9% and finance costs decreased by 41.1% YoY, respectively.
  • Other income declined by 52.6% YoY.
  • Net profit for the year declined by 12.4% YoY.
  • Net profit margins during the year declined from 9.2% in CY18 to 8.4% in CY19.

SCHAEFFLER INDIA Income Statement 2018-19

No. of Mths Year Ending 12 Dec-18* 12 Dec-19* % Change
Net Sales Rs m 45,615 43,606 -4.4%
Other income Rs m 1,340 636 -52.6%
Total Revenues Rs m 46,955 44,242 -5.8%
Gross profit Rs m 6,538 6,339 -3.0%
Depreciation Rs m 1,485 1,587 6.9%
Interest Rs m 76 45 -41.1%
Profit before tax Rs m 6,317 5,343 -15.4%
Tax Rs m 2,119 1,666 -21.4%
Profit after tax Rs m 4,198 3,676 -12.4%
Gross profit margin % 14.3 14.5
Effective tax rate % 33.5 31.2
Net profit margin % 9.2 8.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

SCHAEFFLER INDIA Balance Sheet Analysis

  • The company's current liabilities during CY19 down at Rs 6 billion as compared to Rs 10 billion in CY18, thereby witnessing an decrease of -37.3%.
  • Current assets fell 15% and stood at Rs 23 billion, while fixed assets rose 27% and stood at Rs 14 billion in CY19.
  • Overall, the total assets and liabilities for CY19 stood at Rs 36 billion as against Rs 37 billion during CY18, thereby witnessing a fall of 3%.

SCHAEFFLER INDIA Balance Sheet as on December 2019

No. of Mths Year Ending 12 Dec-18* 12 Dec-19* % Change
Networth Rs m 27,061 29,622 9.5
 
Current Liabilities Rs m 10,170 6,376 -37.3
Long-term Debt Rs m 49 0 -100.0
Total Liabilities Rs m 37,349 36,217 -3.0
 
Current assets Rs m 26,637 22,647 -15.0
Fixed Assets Rs m 10,712 13,570 26.7
Total Assets Rs m 37,349 36,217 -3.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



SCHAEFFLER INDIA Cash Flow Statement Analysis

  • SCHAEFFLER INDIA 's cash flow from operating activities (CFO) during CY19 stood at Rs 5 billion, an improvement of 114.0% on a YoY basis.
  • Cash flow from investing activities (CFI) during CY19 stood at Rs -4 billion, an improvement of 99.0% on a YoY basis.
  • Cash flow from financial activities (CFF) during CY19 stood at Rs -2 billion on a YoY basis.
  • Overall, net cash flows for the company during CY19 stood at Rs -266 million from the Rs 22 million net cash flows seen during CY18.

SCHAEFFLER INDIA Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Dec-18 Dec-19
Cash Flow from Operating Activities Rs m 2,382 5,098 114.0%
Cash Flow from Investing Activities Rs m -1,838 -3,658 -
Cash Flow from Financing Activities Rs m -522 -1,706 -
Net Cash Flow Rs m 22 -266 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for SCHAEFFLER INDIA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 117.6, an decline from the EPS of Rs 134.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 4,698.5, stands at 199.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 24.8 times, while the price to sales ratio stands at 3.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 28.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Dec-18* 12 Dec-19*
Sales per share (Unadj.) Rs 1,459.2 1,395.0
TTM Earnings per share Rs 134.3 117.6
Diluted earnings per share Rs 26.9 23.5
Price to Cash Flow x 156.5 28.7
TTM P/E ratio x 211.9 199.8
Price / Book Value ratio x 6.1 5.1
Market Cap Rs m 164,370 151,260
Dividends per share (Unadj.) Rs 6.0 7.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for SCHAEFFLER INDIA

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 3.6x during CY19, from 2.6x during CY18. 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 120.3x during CY19, from 84.1x during CY18. 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 12.4% during CY19, from 15.5% during CY19. 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 18.2% during CY19, from 23.6% during CY18. 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 10.3% during CY19, from 11.4% during CY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Dec-18* 12 Dec-19*
Current ratio x 2.6 3.6
Debtors’ Days Days 60 53
Interest coverage x 84.1 120.3
Debt to equity ratio x 0.0 0.0
Return on assets % 11.4 10.3
Return on equity % 15.5 12.4
Return on capital employed % 23.6 18.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

SCHAEFFLER INDIA Share Price Performance

Over the last one year, SCHAEFFLER INDIA share price has moved up from Rs 5,165.2 to Rs 5,506.7, registering a gain of Rs 341.6 or around 6.6%.

Overall, the S&P BSE SENSEX is up 16.3% over the year.

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

Annual Report FAQs

What is the current share price of SCHAEFFLER INDIA ?

SCHAEFFLER INDIA currently trades at Rs 2,812.3 per share. You can check out the latest share price performance of SCHAEFFLER INDIA here...

What was the revenue of SCHAEFFLER INDIA in CY19? How does it compare to earlier years?

The revenues of SCHAEFFLER INDIA stood at Rs 44,242 m in CY19, which was down -5.8% compared to Rs 46,955 m reported in CY18.

SCHAEFFLER INDIA 's revenue has grown from Rs 16,376 m in CY15 to Rs 44,242 m in CY19.

Over the past 5 years, the revenue of SCHAEFFLER INDIA has grown at a CAGR of 28.2%.

What was the net profit of SCHAEFFLER INDIA in CY19? How does it compare to earlier years?

The net profit of SCHAEFFLER INDIA stood at Rs 3,676 m in CY19, which was down -12.4% compared to Rs 4,198 m reported in CY18.

This compares to a net profit of Rs 3,885 m in CY17 and a net profit of Rs 1,951 m in CY16.

Over the past 5 years, SCHAEFFLER INDIA net profit has grown at a CAGR of 16.8%.

What does the cash flow statement of SCHAEFFLER INDIA reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of SCHAEFFLER INDIA reveals:

  • Cash flow from operations increased in CY19 and stood at Rs 5,098 m as compared to Rs 2,382 m in CY18.
  • Cash flow from investments decreased in CY19 and stood at Rs -3,658 m as compared to Rs -1,838 m in CY18.
  • Cash flow from financial activity decreased in CY19 and stood at Rs -1,706 m as compared to Rs -522 m in CY18.

Here's the cash flow statement of SCHAEFFLER INDIA for the past 5 years.

(Rs m)CY15CY16CY17CY18CY19
From Operations1,8191,9284,0102,3825,098
From Investments-2,221-1,387-3,050-1,838-3,658
From Financial Activity-172-218-882-522-1,706
Net Cashflow-54632343122-266

What does the Key Ratio analysis of SCHAEFFLER INDIA reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of SCHAEFFLER INDIA reveals:

  • Operating profit margins witnessed a fall and down at 14.5% in CY19 as against 14.3% in CY18.
  • Net profit margins declined from 9.2% in CY18 to 8.4% in CY19.
  • Debt to Equity ratio for CY19 stood at 0.0 as compared to 0.0 in CY18.

Here's the ratio/financial analysis of SCHAEFFLER INDIA for the past 5 years.

 CY15CY16CY17CY18CY19
Operating Profit Margin (%)19.318.017.914.314.5
Net Profit Margin (%)12.511.810.39.28.4
Debt to Equity Ratio (x)0.00.00.00.00.0

Read: Latest Annual Report Analysis of SCHAEFFLER INDIA

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