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GAYATRI PROJECTS 2020-21 Annual Report Analysis
Wed, 31 Mar

GAYATRI PROJECTS 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.

GAYATRI PROJECTS Income Statement Analysis

  • Operating income during the year rose 13.4% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 13.3% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 11.2% in FY21 as against 11.2% in FY20.
  • Depreciation charges decreased by 7.1% and finance costs decreased by 5.1% YoY, respectively.
  • Other income grew by 10.6% YoY.
  • Net profit for the year declined by 262.9% YoY.
  • Net profit margins during the year grew from 0.9% in FY20 to 1.3% in FY21.

GAYATRI PROJECTS Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 34,386 39,005 13.4%
Other income Rs m 392 433 10.6%
Total Revenues Rs m 34,778 39,438 13.4%
Gross profit Rs m 3,862 4,377 13.3%
Depreciation Rs m 909 845 -7.1%
Interest Rs m 3,707 3,519 -5.1%
Profit before tax Rs m -363 445 -222.7%
Tax Rs m -56 -54 -5.0%
Profit after tax Rs m -306 499 -262.9%
Gross profit margin % 11.2 11.2
Effective tax rate % 15.6 -12.0
Net profit margin % -0.9 1.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

GAYATRI PROJECTS Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 35 billion as compared to Rs 27 billion in FY20, thereby witnessing an increase of 26.3%.
  • Long-term debt down at Rs 4 billion as compared to Rs 7 billion during FY20, a fall of 40.2%.
  • Current assets rose 3% and stood at Rs 40 billion, while fixed assets fell 3% and stood at Rs 18 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 58 billion as against Rs 57 billion during FY20, thereby witnessing a growth of 1%.

GAYATRI PROJECTS Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 9,103 9,533 4.7
 
Current Liabilities Rs m 27,414 34,623 26.3
Long-term Debt Rs m 7,138 4,270 -40.2
Total Liabilities Rs m 57,081 57,593 0.9
 
Current assets Rs m 38,685 39,818 2.9
Fixed Assets Rs m 18,396 17,775 -3.4
Total Assets Rs m 57,081 57,593 0.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



GAYATRI PROJECTS Cash Flow Statement Analysis

  • GAYATRI PROJECTS's cash flow from operating activities (CFO) during FY21 stood at Rs 2 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs 98 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -3 billion, an improvement of 60% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -346 million from the Rs -98 million net cash flows seen during FY20.

GAYATRI PROJECTS 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 3,614 2,285 -36.8%
Cash Flow from Investing Activities Rs m 3,113 98 -96.9%
Cash Flow from Financing Activities Rs m -6,825 -2,729 -
Net Cash Flow Rs m -98 -346 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for GAYATRI PROJECTS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 2.7, an improvement from the EPS of Rs -1.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 28.5, stands at 10.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.6 times, while the price to sales ratio stands at 0.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 4.0 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 183.7 208.4
TTM Earnings per share Rs -1.6 2.7
Diluted earnings per share Rs -1.6 2.7
Price to Cash Flow x 2.6 4.0
TTM P/E ratio x -5.0 10.7
Price / Book Value ratio x 2.0 0.6
Market Cap Rs m 18,275 5,314
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for GAYATRI PROJECTS

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.2x during FY21, from 1.4x 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 1.1x during FY21, from 0.9x 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 5.2% during FY21, from -3.4% 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 28.7% during FY21, from 20.6% 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 7.0% during FY21, from 6.0% 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 1.4 1.2
Debtors’ Days Days 1,357 1,421
Interest coverage x 0.9 1.1
Debt to equity ratio x 0.8 0.4
Return on assets % 6.0 7.0
Return on equity % -3.4 5.2
Return on capital employed % 20.6 28.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how GAYATRI PROJECTS has performed over the last 5 years, please visit here.

GAYATRI PROJECTS Share Price Performance

Over the last one year, GAYATRI PROJECTS share price has moved up from Rs 8.3 to Rs 28.5, registering a gain of Rs 20.2 or around 244.8%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,670.3 (up 1.9%). Over the last one year it has moved up from 1,353.7 to 2,670.3, a gain of 1,317 points (up 97.3%).

Overall, the S&P BSE SENSEX is up 74.1% over the year.

(To know more, check out historical annual results for GAYATRI PROJECTS and quarterly results for GAYATRI PROJECTS)

Annual Report FAQs

What is the current share price of GAYATRI PROJECTS?

GAYATRI PROJECTS currently trades at Rs 8.2 per share. You can check out the latest share price performance of GAYATRI PROJECTS here...

What was the revenue of GAYATRI PROJECTS in FY21? How does it compare to earlier years?

The revenues of GAYATRI PROJECTS stood at Rs 39,438 m in FY21, which was up 13.4% compared to Rs 34,778 m reported in FY20.

GAYATRI PROJECTS' revenue has grown from Rs 21,970 m in FY17 to Rs 39,438 m in FY21.

Over the past 5 years, the revenue of GAYATRI PROJECTS has grown at a CAGR of 15.7%.

What was the net profit of GAYATRI PROJECTS in FY21? How does it compare to earlier years?

The net profit of GAYATRI PROJECTS stood at Rs 499 m in FY21, which was down -262.9% compared to Rs -306 m reported in FY20.

This compares to a net profit of Rs 1,777 m in FY19 and a net profit of Rs 256 m in FY18.

Over the past 5 years, GAYATRI PROJECTS net profit has grown at a CAGR of 36.3%.

What does the cash flow statement of GAYATRI PROJECTS reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of GAYATRI PROJECTS reveals:

  • Cash flow from operations decreased in FY21 and stood at Rs 2,285 m as compared to Rs 3,614 m in FY20.
  • Cash flow from investments decreased in FY21 and stood at Rs 98 m as compared to Rs 3,113 m in FY20.
  • Cash flow from financial activity increased in FY21 and stood at Rs -2,729 m as compared to Rs -6,825 m in FY20.

Here's the cash flow statement of GAYATRI PROJECTS for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations2,3422,1345,1563,6142,285
From Investments-344-298-8933,11398
From Financial Activity-2,166-1,643-3,552-6,825-2,729
Net Cashflow-168192712-98-346

What does the Key Ratio analysis of GAYATRI PROJECTS reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of GAYATRI PROJECTS reveals:

  • Operating profit margins witnessed a fall and stood at 11.2% in FY21 as against 11.2% in FY20.
  • Net profit margins grew from 0.9% in FY20 to 1.3% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.4 as compared to 0.8 in FY20.

Here's the ratio/financial analysis of GAYATRI PROJECTS for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)14.511.815.711.211.2
Net Profit Margin (%)0.70.95.1-0.91.3
Debt to Equity Ratio (x)1.91.10.90.80.4

Read: Latest Annual Report Analysis of GAYATRI PROJECTS

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