X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
FINOLEX CABLES 2017-18 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?  

FINOLEX CABLES 2017-18 Annual Report Analysis
Thu, 20 Dec

FINOLEX CABLES has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

FINOLEX CABLES Income Statement Analysis

  • Operating income during the year rose 15.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 11.3% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 15.7% in FY18 as against 16.2% in FY17.
  • Depreciation charges decreased by 8.8% and finance costs decreased by 66.4% YoY, respectively.
  • Other income grew by 36.8% YoY.
  • Net profit for the year declined by 17.5% YoY.
  • Net profit margins during the year declined from 16.0% in FY17 to 11.4% in FY18.

FINOLEX CABLES Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 24,448 28,151 15.1%
Other income Rs m 594 812 36.8%
Total Revenues Rs m 25,042 28,963 15.7%
Gross profit Rs m 3,959 4,408 11.3%
Depreciation Rs m 480 438 -8.8%
Interest Rs m 43 14 -66.4%
Profit before tax Rs m 4,030 4,767 18.3%
Tax Rs m 1,034 2,190 111.7%
Profit after tax Rs m 4,003 3,301 -17.5%
Gross profit margin % 16.2 15.7
Effective tax rate % 25.7 45.9
Net profit margin % 16.0 11.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



FINOLEX CABLES Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 2 billion as compared to Rs 3 billion in FY17, thereby witnessing an decrease of -12.3%.
  • Long-term debt down at Rs 6 million as compared to Rs 8 million during FY17, a fall of 33.7%.
  • Current assets rose 20% and stood at Rs 15 billion, while fixed assets fell 2% and stood at Rs 4 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 28 billion as against Rs 24 billion during FY17, thereby witnessing a growth of 14%.

FINOLEX CABLES Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 21,409 24,290 13.5
 
Current Liabilities Rs m 2,734 2,397 -12.3
Long-term Debt Rs m 8 6 -33.7
Total Liabilities Rs m 24,396 27,839 14.1
 
Current assets Rs m 12,554 15,099 20.3
Fixed Assets Rs m 4,230 4,142 -2.1
Total Assets Rs m 24,396 27,839 14.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



FINOLEX CABLES Cash Flow Statement Analysis

  • FINOLEX CABLES's cash flow from operating activities (CFO) during FY18 stood at Rs 2 billion, an improvement of 10.8% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -1 billion, an improvement of 6.6% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -568 million, an improvement of 25% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 445 million from the Rs 113 million net cash flows seen during FY17.

FINOLEX CABLES Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 2,128 2,357 10.8%
Cash Flow from Investing Activities Rs m -1,261 -1,345 -
Cash Flow from Financing Activities Rs m -754 -568 -
Net Cash Flow Rs m 113 445 294.6%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for FINOLEX CABLES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 21.6, an decline from the EPS of Rs 26.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 463.3, stands at 20.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.8 times, while the price to sales ratio stands at 3.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 23.5 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 159.9 184.1
TTM Earnings per share Rs 26.2 21.6
Diluted earnings per share Rs 26.2 21.6
Price to Cash Flow x 20.4 23.5
TTM P/E ratio x 20.8 20.8
Price / Book Value ratio x 2.8 3.8
Market Cap Rs m 70,849 70,849
Dividends per share (Unadj.) Rs 3.0 4.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for FINOLEX CABLES

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 6.3x during FY18, from 4.6x during FY17. 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 deteriorated and stood at 332.1x during FY18, from 94.9x during FY17. 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 13.6% during FY18, from 18.7% during FY18. 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 22.7% during FY18, from 23.7% during FY17. 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 11.9% during FY18, from 16.6% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 4.6 6.3
Debtors’ Days Days 19 23
Interest coverage x 94.9 332.1
Debt to equity ratio x 0.0 0.0
Return on assets % 16.6 11.9
Return on equity % 18.7 13.6
Return on capital employed % 23.7 22.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

FINOLEX CABLES Share Price Performance

Over the last one year, FINOLEX CABLES share price has moved up from Rs 706.2 to Rs 463.3, registering a loss of Rs 243.0 or around 34.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,822.1 (up 0.1%). Over the last one year it has moved up from 18,684.3 to 18,822.1, a gain of 138 points (up 0.7%).

Overall, the S&P BSE SENSEX is up 7.5% over the year.

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

Equitymaster requests your view! Post a comment on "FINOLEX CABLES 2017-18 Annual Report Analysis". Click here!

  

Related Views on News

FINOLEX CABLES Announces Quarterly Results (4QFY19); Net Profit Up 3.8% (Quarterly Result Update)

Jun 3, 2019 | Updated on Jun 3, 2019

For the quarter ended March 2019, FINOLEX CABLES has posted a net profit of Rs 849 m (up 3.8% YoY). Sales on the other hand came in at Rs 8 bn (up 3.4% YoY). Read on for a complete analysis of FINOLEX CABLES's quarterly results.

FINOLEX CABLES Announces Quarterly Results (3QFY19); Net Profit Up 1.4% (Quarterly Result Update)

Feb 25, 2019 | Updated on Feb 25, 2019

For the quarter ended December 2018, FINOLEX CABLES has posted a net profit of Rs 759 m (up 1.4% YoY). Sales on the other hand came in at Rs 7 bn (up 14.1% YoY). Read on for a complete analysis of FINOLEX CABLES's quarterly results.

Garden Reach Shipbuilders and Engineers Ltd: Is This PSU Shipbuilder Worth Betting On? (IPO)

Sep 24, 2018

Should you apply for the IPO of Garden Reach Shipbuilders and Engineers Ltd?

H.G Infra Engineering Ltd. (IPO)

Feb 24, 2018

Should you subscribe to the IPO of H.G Infra Engineering Ltd.?

Amber Enterprises India Ltd. (IPO)

Jan 16, 2018

Should you subscribe to the IPO of Amber Enterprises India Ltd?

More Views on News

Most Popular

7 Stocks That Will Remain Evergreen in this Era of Technological Disruption(The 5 Minute Wrapup)

Jun 13, 2019

We are living in an era of disruption. Are your stocks well equipped to adapt to changes that disruption will bring along?

The Great Indian NBFC Bubble Has Burst but I Will Still Recommend These Safe NBFCs(The 5 Minute Wrapup)

Jun 11, 2019

One chart that predicted the NBFC crisis back in 2016.

Kenneth Andrade Would Like Our Real Estate Stock Recommendation with Triple Digit Upside(The 5 Minute Wrapup)

Jun 12, 2019

This real estate stock recommended in Smart Money Secrets offers the most favourable upside potential.

Why Modi 2.0 Will Be Great for These 7 Stocks(Profit Hunter)

Jun 10, 2019

The government's focus on Infra, electricity, water for all will be the key factors for Sensex 1,00,000.

Why I Believe Smallcaps Will Catch up to the Sensex(Profit Hunter)

Jun 14, 2019

Smallcaps have gone nowhere even as the Sensex makes new all-time highs. Find out why Richa believes this a good opportunity to invest in smallcaps.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK FINOLEX CABLES

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

MORE ON FINOLEX CABLES

FINOLEX CABLES - WALCHANDNAGAR COMPARISON

COMPARE FINOLEX CABLES WITH

MARKET STATS