FINOLEX INDUSTRIES 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 INDUSTRIES 2017-18 Annual Report Analysis
Fri, 29 Mar

FINOLEX INDUSTRIES 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 INDUSTRIES Income Statement Analysis

  • Operating income during the year rose 5.2% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 14.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 17.7% in FY18 as against 21.6% in FY17.
  • Depreciation charges increased by 10.1% and finance costs decreased by 36.2% YoY, respectively.
  • Other income grew by 5.3% YoY.
  • Net profit for the year declined by 13.7% YoY.
  • Net profit margins during the year declined from 13.5% in FY17 to 11.1% in FY18.

FINOLEX INDUSTRIES Income Statement 2017-18

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
Net SalesRs m26,02427,3785.2%
Other incomeRs m2322445.3%
Total RevenuesRs m26,25527,6225.2%
Gross profitRs m5,6314,839-14.1%
DepreciationRs m55160610.1%
InterestRs m15498-36.2%
Profit before taxRs m5,1584,379-15.1%
TaxRs m1,7031,479-13.1%
Profit after taxRs m3,5493,063-13.7%
Gross profit margin%21.617.7
Effective tax rate%33.033.8
Net profit margin%13.511.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



FINOLEX INDUSTRIES Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 5 billion as compared to Rs 5 billion in FY17, thereby witnessing an increase of 6.9%.
  • Current assets rose 11% and stood at Rs 8 billion, while fixed assets rose 11% and stood at Rs 10 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 35 billion as against Rs 30 billion during FY17, thereby witnessing a growth of 17%.

FINOLEX INDUSTRIES Balance Sheet as on March 2018

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
NetworthRs m23,14827,95120.8
 
Current LiabilitiesRs m4,5954,9116.9
Long-term DebtRs m000.0
Total LiabilitiesRs m29,96735,06017.0
 
Current assetsRs m7,2938,08110.8
Fixed AssetsRs m 8,7699,74611.1
Total AssetsRs m29,96735,06017.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



FINOLEX INDUSTRIES Cash Flow Statement Analysis

  • FINOLEX INDUSTRIES's cash flow from operating activities (CFO) during FY18 stood at Rs 3 billion, an improvement of 34.4% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -2 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -2 billion, an improvement of 38% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 13 million from the Rs 39 million net cash flows seen during FY17.

FINOLEX INDUSTRIES Cash Flow Statement 2017-18

ParticularsNo. of months1212% Change
Year EndingMar-17Mar-18
Cash Flow from Operating ActivitiesRs m2,5173,38434.4%
Cash Flow from Investing ActivitiesRs m346-1,619-
Cash Flow from Financing ActivitiesRs m-2,824-1,752-
Net Cash FlowRs m3913-66.4%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for FINOLEX INDUSTRIES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 24.7, an decline from the EPS of Rs 28.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 498.0, stands at 16.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.9 times, while the price to sales ratio stands at 3.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 17.6 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Sales per share (Unadj.)Rs209.7220.6
TTM Earnings per shareRs28.624.7
Diluted earnings per shareRs28.624.7
Price to Cash Flow x15.417.6
TTM P/E ratiox16.316.3
Price / Book Value ratiox2.52.9
Market CapRs m61,80261,799
Dividends per share (Unadj.)Rs11.510.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for FINOLEX INDUSTRIES

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.6x during FY18, from 1.6x 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 improved and stood at 45.6x during FY18, from 34.5x 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 11.0% during FY18, from 15.3% 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 16.6% during FY18, from 23.4% 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 9.0% during FY18, from 12.4% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Current ratiox1.61.6
Debtors’ DaysDays76
Interest coveragex34.545.6
Debt to equity ratiox0.00.0
Return on assets%12.49.0
Return on equity%15.311.0
Return on capital employed%23.416.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

FINOLEX INDUSTRIES Share Price Performance

Over the last one year, FINOLEX INDUSTRIES share price has moved up from Rs 651.3 to Rs 498.0, registering a loss of Rs 153.3 or around 23.5%.

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

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

  

Related Views on News

FINOLEX INDUSTRIES Announces Quarterly Results (1QFY20); Net Profit Down 29.8% (Quarterly Result Update)

Aug 13, 2019 | Updated on Aug 13, 2019

For the quarter ended June 2019, FINOLEX INDUSTRIES has posted a net profit of Rs 725 m (down 29.8% YoY). Sales on the other hand came in at Rs 9 bn (up 14.0% YoY). Read on for a complete analysis of FINOLEX INDUSTRIES's quarterly results.

FINOLEX INDUSTRIES Announces Quarterly Results (4QFY19); Net Profit Down 24.4% (Quarterly Result Update)

May 27, 2019 | Updated on May 27, 2019

For the quarter ended March 2019, FINOLEX INDUSTRIES has posted a net profit of Rs 914 m (down 24.4% YoY). Sales on the other hand came in at Rs 10 bn (up 19.2% YoY). Read on for a complete analysis of FINOLEX INDUSTRIES's quarterly results.

More Views on News

Most Popular

My Latest Stock Recommendation(Fast Profits Daily)

Jan 10, 2020

The story behind my latest stock recommendation and an important announcement.

Bet on These Smallcap Stocks for Success in 2020(Profit Hunter)

Jan 14, 2020

The smallcap rebound finally seems to here... Make sure you aren't too late to make the most of the biggest wealth making opportunity in a decade.

Your Safe Income Options for 2020(Fast Profits Daily)

Jan 9, 2020

What are you safest investing options in 2020 when interest rates fall.

Guess Which Stocks Are Rising at Double the Speed of Sensex(Profit Hunter)

Jan 15, 2020

These stocks can move twice as fast as the Sensex - to take advantage of their money multiplying power get in now as the rally is still just taking shape.. read more to not miss out.

What the Infosys Results Tell Us About the Next Infosys(The 5 Minute Wrapup)

Jan 15, 2020

If you're interested in the next Infosys, I'll tell you where to look.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get our special report, Secret to Increasing Your Trading Profits Today Now!
We will never sell or rent your email id.
Please read our Terms

TRACK FINOLEX INDUSTRIES

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

MORE ON FINOLEX INDUSTRIES

FINOLEX INDUSTRIES - TIMKEN INDIA COMPARISON

COMPARE FINOLEX INDUSTRIES WITH

MARKET STATS