GALAXY SURFACTANTS 2020-21 Annual Report Analysis

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GALAXY SURFACTANTS 2020-21 Annual Report Analysis
Tue, 26 Oct

GALAXY SURFACTANTS has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

GALAXY SURFACTANTS Income Statement Analysis

  • Operating income during the year rose 7.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 21.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 16.1% in FY21 as against 14.2% in FY20.
  • Depreciation charges increased by 18.9% and finance costs decreased by 43.6% YoY, respectively.
  • Other income grew by 64.2% YoY.
  • Net profit for the year grew by 31.1% YoY.
  • Net profit margins during the year grew from 8.8% in FY20 to 10.8% in FY21.

GALAXY SURFACTANTS Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 25,964 27,841 7.2%
Other income Rs m 74 122 64.2%
Total Revenues Rs m 26,038 27,963 7.4%
Gross profit Rs m 3,674 4,475 21.8%
Depreciation Rs m 622 740 18.9%
Interest Rs m 238 134 -43.6%
Profit before tax Rs m 2,888 3,723 28.9%
Tax Rs m 584 702 20.1%
Profit after tax Rs m 2,304 3,021 31.1%
Gross profit margin % 14.2 16.1
Effective tax rate % 20.2 18.8
Net profit margin % 8.8 10.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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GALAXY SURFACTANTS Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 6 billion as compared to Rs 6 billion in FY20, thereby witnessing an increase of 8.9%.
  • Long-term debt down at Rs 774 million as compared to Rs 1 billion during FY20, a fall of 33.6%.
  • Current assets rose 24% and stood at Rs 12 billion, while fixed assets rose 2% and stood at Rs 9 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 20 billion as against Rs 18 billion during FY20, thereby witnessing a growth of 13%.

GALAXY SURFACTANTS Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 10,678 13,014 21.9
 
Current Liabilities Rs m 5,692 6,201 8.9
Long-term Debt Rs m 1,166 774 -33.6
Total Liabilities Rs m 18,118 20,488 13.1
 
Current assets Rs m 9,350 11,577 23.8
Fixed Assets Rs m 8,769 8,911 1.6
Total Assets Rs m 18,118 20,488 13.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



GALAXY SURFACTANTS Cash Flow Statement Analysis

  • GALAXY SURFACTANTS 's cash flow from operating activities (CFO) during FY21 stood at Rs 4 billion, an improvement of 15.6% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -2 billion, an improvement of 9.2% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -2 billion on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 338 million from the Rs 227 million net cash flows seen during FY20.

GALAXY SURFACTANTS Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Mar-20 Mar-21
Cash Flow from Operating Activities Rs m 3,159 3,651 15.6%
Cash Flow from Investing Activities Rs m -1,508 -1,647 -
Cash Flow from Financing Activities Rs m -1,438 -1,650 -
Net Cash Flow Rs m 227 338 49.1%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for GALAXY SURFACTANTS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 85.2, an improvement from the EPS of Rs 65.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 3,152.5, stands at 34.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 5.0 times, while the price to sales ratio stands at 2.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 29.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Sales per share (Unadj.) Rs 732.4 785.3
TTM Earnings per share Rs 65.0 85.2
Diluted earnings per share Rs 65.0 85.2
Price to Cash Flow x 38.2 29.7
TTM P/E ratio x 34.7 34.7
Price / Book Value ratio x 4.6 5.0
Market Cap Rs m 111,769 111,769
Dividends per share (Unadj.) Rs 14.0 18.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for GALAXY SURFACTANTS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.9x during FY21, from 1.6x during FY20. 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 28.7x during FY21, from 13.1x during FY20. 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 23.2% during FY21, from 21.6% during FY21. 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 28.0% during FY21, from 26.4% during FY20. 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 improved and stood at 15.4% during FY21, from 14.0% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Current ratio x 1.6 1.9
Debtors’ Days Days 6 6
Interest coverage x 13.1 28.7
Debt to equity ratio x 0.1 0.1
Return on assets % 14.0 15.4
Return on equity % 21.6 23.2
Return on capital employed % 26.4 28.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

GALAXY SURFACTANTS Share Price Performance

Over the last one year, GALAXY SURFACTANTS share price has moved up from Rs 1,665.7 to Rs 3,152.5, registering a gain of Rs 1,486.8 or around 89.3%.

Overall, the S&P BSE SENSEX is up 51.0% over the year.

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

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Related Views on News

GALAXY SURFACTANTS Announces Quarterly Results (1QFY22); Net Profit Up 36.0% (Quarterly Result Update)

Aug 11, 2021 | Updated on Aug 11, 2021

For the quarter ended June 2021, GALAXY SURFACTANTS has posted a net profit of Rs 768 m (up 36.0% YoY). Sales on the other hand came in at Rs 8 bn (up 36.1% YoY). Read on for a complete analysis of GALAXY SURFACTANTS 's quarterly results.

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