GUJ.APOLLO INDUS 2020-21 Annual Report Analysis

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GUJ.APOLLO INDUS 2020-21 Annual Report Analysis
Mon, 1 Nov

GUJ.APOLLO INDUS 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.

GUJ.APOLLO INDUS Income Statement Analysis

  • Operating income during the year rose 107.8% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 62.2% YoY during the fiscal. Operating profit margins witnessed a growth and down at 20.1% in FY21 as against 25.7% in FY20.
  • Depreciation charges increased by 38.3% and finance costs increased by 60.2% YoY, respectively.
  • Other income grew by 264.0% YoY.
  • Net profit for the year grew by 228.3% YoY.
  • Net profit margins during the year grew from 25.4% in FY20 to 29.0% in FY21.

GUJ.APOLLO INDUS Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 265 551 107.8%
Other income Rs m 271 986 264.0%
Total Revenues Rs m 536 1,536 186.8%
Gross profit Rs m -68 -111 62.2%
Depreciation Rs m 25 34 38.3%
Interest Rs m 13 20 60.2%
Profit before tax Rs m 165 820 397.2%
Tax Rs m 29 374 1,184.1%
Profit after tax Rs m 136 446 228.3%
Gross profit margin % -25.7 -20.1
Effective tax rate % 17.7 45.6
Net profit margin % 25.4 29.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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GUJ.APOLLO INDUS Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 778 million as compared to Rs 217 million in FY20, thereby witnessing an increase of 258.1%.
  • Long-term debt stood at Rs 3 million as compared to Rs 0 million during FY20, a fall of 0.0%.
  • Current assets fell 12% and stood at Rs 3 billion, while fixed assets rose 79% and stood at Rs 3 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 6 billion as against Rs 5 billion during FY20, thereby witnessing a growth of 19%.

GUJ.APOLLO INDUS Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 4,932 5,333 8.1
 
Current Liabilities Rs m 217 778 258.1
Long-term Debt Rs m 0 3 0.0
Total Liabilities Rs m 5,176 6,144 18.7
 
Current assets Rs m 3,416 3,000 -12.2
Fixed Assets Rs m 1,760 3,144 78.6
Total Assets Rs m 5,176 6,144 18.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



GUJ.APOLLO INDUS Cash Flow Statement Analysis

  • GUJ.APOLLO INDUS's cash flow from operating activities (CFO) during FY21 stood at Rs -1 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs 931 million, an improvement of 4,724.5% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs 428 million, an improvement of 436% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 0 million from the Rs -3 million net cash flows seen during FY20.

GUJ.APOLLO INDUS 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 105 -1,360 -
Cash Flow from Investing Activities Rs m 19 931 4,724.5%
Cash Flow from Financing Activities Rs m -127 428 -
Net Cash Flow Rs m -3 0 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for GUJ.APOLLO INDUS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 35.2, an improvement from the EPS of Rs 10.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 219.8, stands at -3.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.5 times, while the price to sales ratio stands at 4.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 5.8 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 20.9 43.5
TTM Earnings per share Rs 10.7 35.2
Diluted earnings per share Rs 10.7 35.2
Price to Cash Flow x 17.3 5.8
TTM P/E ratio x -3.5 -3.5
Price / Book Value ratio x 0.3 0.5
Market Cap Rs m 2,783 2,783
Dividends per share (Unadj.) Rs 3.0 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for GUJ.APOLLO INDUS

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 3.9x during FY21, from 15.7x 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 41.2x during FY21, from 14.0x 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 8.4% during FY21, from 2.8% 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 15.8% during FY21, from 3.6% 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 7.6% during FY21, from 2.9% 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 15.7 3.9
Debtors’ Days Days 62,961,691 71,053,503
Interest coverage x 14.0 41.2
Debt to equity ratio x 0.0 0.0
Return on assets % 2.9 7.6
Return on equity % 2.8 8.4
Return on capital employed % 3.6 15.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how GUJ.APOLLO INDUS has performed over the last 5 years, please visit here.

GUJ.APOLLO INDUS Share Price Performance

Over the last one year, GUJ.APOLLO INDUS share price has moved up from Rs 210.2 to Rs 219.8, registering a gain of Rs 9.6 or around 4.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 27,021.6 (up 1.3%). Over the last one year it has moved up from 14,167.3 to 27,021.6, a gain of 12,854 points (up 90.7%).

Overall, the S&P BSE SENSEX is up 50.6% over the year.

(To know more, check out historical annual results for GUJ.APOLLO INDUS and quarterly results for GUJ.APOLLO INDUS)

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