BUTTERFLY GANDHIMATHI 2021-22 Annual Report Analysis

Sat, 25 Jun

BUTTERFLY GANDHIMATHI has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

BUTTERFLY GANDHIMATHI Income Statement Analysis

• Operating income during the year rose 15.6% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 34.7% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 5.2% in FY22 as against 9.2% in FY21.
• Depreciation charges decreased by 0.6% and finance costs decreased by 20.9% YoY, respectively.
• Other income grew by 22.8% YoY.
• Net profit for the year declined by 55.4% YoY.
• Net profit margins during the year declined from 4.2% in FY21 to 1.6% in FY22.

BUTTERFLY GANDHIMATHI Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	8,696	10,053	15.6%
Other income	Rs m	16	19	22.8%
Total Revenues	Rs m	8,712	10,072	15.6%
Gross profit	Rs m	797	520	-34.7%
Depreciation	Rs m	156	155	-0.6%
Interest	Rs m	174	137	-20.9%
Profit before tax	Rs m	483	248	-48.8%
Tax	Rs m	122	86	-29.2%
Profit after tax	Rs m	362	161	-55.4%
Gross profit margin	%	9.2	5.2
Effective tax rate	%	25.2	34.9
Net profit margin	%	4.2	1.6

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BUTTERFLY GANDHIMATHI Balance Sheet Analysis

• The company's current liabilities during FY22 stood at Rs 3 billion as compared to Rs 3 billion in FY21, thereby witnessing an increase of 7.8%.
• Long-term debt down at Rs 46 million as compared to Rs 116 million during FY21, a fall of 60.5%.
• Current assets rose 9% and stood at Rs 3 billion, while fixed assets fell 0% and stood at Rs 2 billion in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 5 billion as against Rs 5 billion during FY21, thereby witnessing a growth of 6%.

BUTTERFLY GANDHIMATHI Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	2,240	2,350	4.9
Current Liabilities	Rs m	2,596	2,800	7.8
Long-term Debt	Rs m	116	46	-60.5
Total Liabilities	Rs m	4,975	5,250	5.5
Current assets	Rs m	3,205	3,482	8.6
Fixed Assets	Rs m	1,770	1,769	-0.1
Total Assets	Rs m	4,975	5,250	5.5

BUTTERFLY GANDHIMATHI Cash Flow Statement Analysis

• BUTTERFLY GANDHIMATHI's cash flow from operating activities (CFO) during FY22 stood at Rs -211 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs -179 million, an improvement of 57.9% on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs 74 million, an improvement of 105% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs -316 million from the Rs 322 million net cash flows seen during FY21.

BUTTERFLY GANDHIMATHI Cash Flow Statement 2021-22

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-21	Mar-22
Cash Flow from Operating Activities	Rs m	2,073	-211	-
Cash Flow from Investing Activities	Rs m	-114	-179	-
Cash Flow from Financing Activities	Rs m	-1,637	74	-
Net Cash Flow	Rs m	322	-316	-

Current Valuations for BUTTERFLY GANDHIMATHI

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.0, an decline from the EPS of Rs 20.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,072.2, stands at 118.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 8.2 times, while the price to sales ratio stands at 1.9 times.
• The company's price to cash flow (P/CF) ratio stood at 54.9 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Sales per share (Unadj.)	Rs	486.4	562.3
TTM Earnings per share	Rs	20.2	9.0
Diluted earnings per share	Rs	20.2	9.0
Price to Cash Flow	x	19.2	54.9
TTM P/E ratio	x	27.5	118.9
Price / Book Value ratio	x	3.0	7.4
Market Cap	Rs m	6,779	17,343
Dividends per share (Unadj.)	Rs	3.0	3.0

Ratio Analysis for BUTTERFLY GANDHIMATHI

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.2x during FY22, from 1.2x during FY21. 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 2.8x during FY22, from 3.8x during FY21. 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 6.9% during FY22, from 16.1% during FY22. 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 16.1% during FY22, from 27.9% during FY21. 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 5.7% during FY22, from 10.8% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Current ratio	x	1.2	1.2
Debtors’ Days	Days	312	337
Interest coverage	x	3.8	2.8
Debt to equity ratio	x	0.1	0.0
Return on assets	%	10.8	5.7
Return on equity	%	16.1	6.9
Return on capital employed	%	27.9	16.1

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

BUTTERFLY GANDHIMATHI Share Price Performance

Over the last one year, BUTTERFLY GANDHIMATHI share price has moved up from Rs 691.5 to Rs 1,072.2, registering a gain of Rs 380.7 or around 55.0%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 35,418.9 (up 1.5%). Over the last one year it has moved down from 35,640.2 to 35,418.9, a loss of 221 points (down 0.6%).

Overall, the S&P BSE SENSEX is up 0.8% over the year.

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

Read: Latest Annual Report Analysis of BUTTERFLY GANDHIMATHI