FLUIDOMAT 2018-19 Annual Report Analysis

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FLUIDOMAT 2018-19 Annual Report Analysis
Thu, 19 Sep

FLUIDOMAT 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.

FLUIDOMAT Income Statement Analysis

  • Operating income during the year rose 13.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 6.6% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 10.9% in FY19 as against 11.6% in FY18.
  • Depreciation charges increased by 0.0% increased by 0.0% YoY, respectively.
  • Other income grew by 0.0% YoY.
  • Net profit for the year grew by 2.3% YoY.
  • Net profit margins during the year declined from 9.4% in FY18 to 8.5% in FY19.

FLUIDOMAT Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 236 268 13.3%
Other income Rs m 11 11 0.0%
Total Revenues Rs m 247 279 12.7%
Gross profit Rs m 27 29 6.6%
Depreciation Rs m 7 7 0.0%
Interest Rs m 0 0 0.0%
Profit before tax Rs m 31 33 5.7%
Tax Rs m 8 9 15.4%
Profit after tax Rs m 23 24 2.3%
Gross profit margin % 11.6 10.9
Effective tax rate % 26.0 28.4
Net profit margin % 9.4 8.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



FLUIDOMAT Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 62 million as compared to Rs 58 million in FY18, thereby witnessing an increase of 7.1%.
  • Current assets rose 3% and stood at Rs 198 million, while fixed assets fell 5% and stood at Rs 73 million in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 397 million as against Rs 379 million during FY18, thereby witnessing a growth of 5%.

FLUIDOMAT Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 310 323 4.3
 
Current Liabilities Rs m 58 62 7.1
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 379 397 4.7
 
Current assets Rs m 191 198 3.3
Fixed Assets Rs m 77 73 -5.0
Total Assets Rs m 379 397 4.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



FLUIDOMAT Cash Flow Statement Analysis

  • FLUIDOMAT's cash flow from operating activities (CFO) during FY19 stood at Rs 33 million, an improvement of 28.4% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -23 million, an improvement of 121.4% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -10 million, an improvement of 28% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 0 million from the Rs 1 million net cash flows seen during FY18.

FLUIDOMAT 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 26 33 28.4%
Cash Flow from Investing Activities Rs m -10 -23 -
Cash Flow from Financing Activities Rs m -15 -10 -
Net Cash Flow Rs m 1 0 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for FLUIDOMAT

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 4.8, an improvement from the EPS of Rs 4.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 89.2, stands at 18.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.4 times, while the price to sales ratio stands at 2.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 14.3 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 47.9 54.3
TTM Earnings per share Rs 4.7 4.8
Diluted earnings per share Rs 4.7 4.8
Price to Cash Flow x 14.5 14.3
TTM P/E ratio x 18.4 18.3
Price / Book Value ratio x 3.2 2.4
Market Cap Rs m 440 439
Dividends per share (Unadj.) Rs 1.8 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for FLUIDOMAT

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 3.2x during FY19, from 3.3x during FY18. The current ratio measures the company's ability to pay short-term and long-term obligations.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 7.4% during FY19, from 7.5% 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 10.3% during FY19, from 10.1% 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 6.0% during FY19, from 6.1% 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 3.3 3.2
Debtors’ Days Days 161 139
Interest coverage x 0.0 0.0
Debt to equity ratio x 0.0 0.0
Return on assets % 6.1 6.0
Return on equity % 7.5 7.4
Return on capital employed % 10.1 10.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

FLUIDOMAT Share Price Performance

Over the last one year, FLUIDOMAT share price has moved down from Rs 141.6 to Rs 89.2, registering a loss of Rs 52.4 or around 37.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,786.8 (down 1.0%). Over the last one year it has moved down from 18,168.6 to 16,786.8, a loss of 1,382 points (down 7.6%).

Overall, the S&P BSE SENSEX is down 2.7% over the year.

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

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