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GODFREY PHILLIPS 2020-21 Annual Report Analysis
Wed, 31 Mar

GODFREY PHILLIPS 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.

GODFREY PHILLIPS Income Statement Analysis

  • Operating income during the year fell 22.2% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 8.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 25.9% in FY21 as against 22.0% in FY20.
  • Depreciation charges decreased by 9.0% and finance costs increased by 2.0% YoY, respectively.
  • Other income grew by 11.0% YoY.
  • Net profit for the year declined by 1.9% YoY.
  • Net profit margins during the year grew from 14.3% in FY20 to 18.0% in FY21.

GODFREY PHILLIPS Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 26,851 20,893 -22.2%
Other income Rs m 1,069 1,186 11.0%
Total Revenues Rs m 27,920 22,078 -20.9%
Gross profit Rs m 5,916 5,414 -8.5%
Depreciation Rs m 1,552 1,413 -9.0%
Interest Rs m 302 308 2.0%
Profit before tax Rs m 5,130 4,878 -4.9%
Tax Rs m 1,287 1,108 -13.9%
Profit after tax Rs m 3,843 3,770 -1.9%
Gross profit margin % 22.0 25.9
Effective tax rate % 25.1 22.7
Net profit margin % 14.3 18.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

GODFREY PHILLIPS Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 8 billion as compared to Rs 7 billion in FY20, thereby witnessing an increase of 10.9%.
  • Long-term debt stood at Rs 10 million as compared to Rs 9 million during FY20, a growth of 10.5%.
  • Current assets rose 44% and stood at Rs 15 billion, while fixed assets fell 1% and stood at Rs 22 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 37 billion as against Rs 33 billion during FY20, thereby witnessing a growth of 13%.

GODFREY PHILLIPS Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 21,873 25,821 18.0
 
Current Liabilities Rs m 7,131 7,906 10.9
Long-term Debt Rs m 9 10 10.5
Total Liabilities Rs m 32,951 37,317 13.2
 
Current assets Rs m 10,567 15,238 44.2
Fixed Assets Rs m 22,384 22,080 -1.4
Total Assets Rs m 32,951 37,317 13.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



GODFREY PHILLIPS Cash Flow Statement Analysis

  • GODFREY PHILLIPS's cash flow from operating activities (CFO) during FY21 stood at Rs 3 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -3 billion, an improvement of 315.7% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -159 million, an improvement of 95% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -37 million from the Rs 1 million net cash flows seen during FY20.

GODFREY PHILLIPS 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 3,750 3,098 -17.4%
Cash Flow from Investing Activities Rs m -716 -2,976 -
Cash Flow from Financing Activities Rs m -3,033 -159 -
Net Cash Flow Rs m 1 -37 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for GODFREY PHILLIPS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 72.5, an decline from the EPS of Rs 73.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 912.6, stands at 12.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.8 times, while the price to sales ratio stands at 2.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 9.8 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 516.5 401.9
TTM Earnings per share Rs 73.9 72.5
Diluted earnings per share Rs 73.9 72.5
Price to Cash Flow x 9.1 9.8
TTM P/E ratio x 12.8 12.6
Price / Book Value ratio x 2.6 2.0
Market Cap Rs m 56,042 50,604
Dividends per share (Unadj.) Rs 24.0 24.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for GODFREY PHILLIPS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.9x during FY21, from 1.5x 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 deteriorated and stood at 16.8x during FY21, from 18.0x 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 declined and down at 14.6% during FY21, from 17.6% 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 declined and down at 20.1% during FY21, from 24.8% 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 declined and down at 10.9% during FY21, from 12.6% 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 1.5 1.9
Debtors’ Days Days 94 215
Interest coverage x 18.0 16.8
Debt to equity ratio x 0.0 0.0
Return on assets % 12.6 10.9
Return on equity % 17.6 14.6
Return on capital employed % 24.8 20.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how GODFREY PHILLIPS has performed over the last 5 years, please visit here.

GODFREY PHILLIPS Share Price Performance

Over the last one year, GODFREY PHILLIPS share price has moved down from Rs 942.5 to Rs 912.6, registering a loss of Rs 30.0 or around 3.2%.

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

(To know more, check out historical annual results for GODFREY PHILLIPS and quarterly results for GODFREY PHILLIPS)

Annual Report FAQs

What is the current share price of GODFREY PHILLIPS?

GODFREY PHILLIPS currently trades at Rs 3,087.9 per share. You can check out the latest share price performance of GODFREY PHILLIPS here...

What was the revenue of GODFREY PHILLIPS in FY21? How does it compare to earlier years?

The revenues of GODFREY PHILLIPS stood at Rs 22,078 m in FY21, which was down -20.9% compared to Rs 27,920 m reported in FY20.

GODFREY PHILLIPS' revenue has grown from Rs 4,406 m in FY17 to Rs 22,078 m in FY21.

Over the past 5 years, the revenue of GODFREY PHILLIPS has grown at a CAGR of 49.6%.

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

The net profit of GODFREY PHILLIPS stood at Rs 3,770 m in FY21, which was down -1.9% compared to Rs 3,843 m reported in FY20.

This compares to a net profit of Rs 2,598 m in FY19 and a net profit of Rs 1,588 m in FY18.

Over the past 5 years, GODFREY PHILLIPS net profit has grown at a CAGR of 28.9%.

What does the cash flow statement of GODFREY PHILLIPS 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 GODFREY PHILLIPS reveals:

  • Cash flow from operations decreased in FY21 and stood at Rs 3,098 m as compared to Rs 3,750 m in FY20.
  • Cash flow from investments decreased in FY21 and stood at Rs -2,976 m as compared to Rs -716 m in FY20.
  • Cash flow from financial activity increased in FY21 and stood at Rs -159 m as compared to Rs -3,033 m in FY20.

Here's the cash flow statement of GODFREY PHILLIPS for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations2,4535,1583,6193,7503,098
From Investments-1,246-4,049-3,099-716-2,976
From Financial Activity-1,249-991-434-3,033-159
Net Cashflow-41118861-37

What does the Key Ratio analysis of GODFREY PHILLIPS 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 GODFREY PHILLIPS reveals:

  • Operating profit margins witnessed a fall and down at 25.9% in FY21 as against 22.0% in FY20.
  • Net profit margins grew from 14.3% in FY20 to 18.0% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.0 as compared to 0.0 in FY20.

Here's the ratio/financial analysis of GODFREY PHILLIPS for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)64.315.816.922.025.9
Net Profit Margin (%)34.79.010.914.318.0
Debt to Equity Ratio (x)0.00.00.00.00.0

Read: Latest Annual Report Analysis of GODFREY PHILLIPS

 

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