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MAHINDRA LIFESPACE 2018-19 Annual Report Analysis

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MAHINDRA LIFESPACE 2018-19 Annual Report Analysis
Wed, 3 Jul

MAHINDRA LIFESPACE has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

MAHINDRA LIFESPACE Income Statement Analysis

  • Operating income during the year rose 4.7% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 55.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 4.4% in FY19 as against 10.1% in FY18.
  • Depreciation charges decreased by 11.5% and finance costs decreased by 69.8% YoY, respectively.
  • Other income declined by 21.7% YoY.
  • Net profit for the year grew by 14.8% YoY.
  • Net profit margins during the year grew from 16.0% in FY18 to 18.1% in FY19.

MAHINDRA LIFESPACE Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 5,662 5,928 4.7%
Other income Rs m 779 610 -21.7%
Total Revenues Rs m 6,441 6,539 1.5%
Gross profit Rs m 574 258 -55.0%
Depreciation Rs m 43 38 -11.5%
Interest Rs m 413 125 -69.8%
Profit before tax Rs m 898 706 -21.4%
Tax Rs m 312 246 -21.1%
Profit after tax Rs m 1,034 1,187 14.8%
Gross profit margin % 10.1 4.4
Effective tax rate % 34.7 34.8
Net profit margin % 16.0 18.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



MAHINDRA LIFESPACE Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 10 billion as compared to Rs 8 billion in FY18, thereby witnessing an increase of 22.4%.
  • Long-term debt down at Rs 326 million as compared to Rs 576 million during FY18, a fall of 43.4%.
  • Current assets rose 2% and stood at Rs 21 billion, while fixed assets rose 1% and stood at Rs 1 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 30 billion as against Rs 30 billion during FY18, thereby witnessing a fall of 0%.

MAHINDRA LIFESPACE Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 20,589 19,295 -6.3
 
Current Liabilities Rs m 7,891 9,661 22.4
Long-term Debt Rs m 576 326 -43.4
Total Liabilities Rs m 29,980 29,936 -0.1
 
Current assets Rs m 21,133 21,478 1.6
Fixed Assets Rs m 1,045 1,052 0.7
Total Assets Rs m 29,980 29,936 -0.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



MAHINDRA LIFESPACE Cash Flow Statement Analysis

  • MAHINDRA LIFESPACE 's cash flow from operating activities (CFO) during FY19 stood at Rs 2 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -4 billion on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 848 million from the Rs -253 million net cash flows seen during FY18.

MAHINDRA LIFESPACE Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 1,944 1,675 -13.8%
Cash Flow from Investing Activities Rs m -1,797 2,877 -
Cash Flow from Financing Activities Rs m -400 -3,704 -
Net Cash Flow Rs m -253 848 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for MAHINDRA LIFESPACE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 23.1, an improvement from the EPS of Rs 20.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 408.9, stands at 36.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.4 times, while the price to sales ratio stands at 4.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 33.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 110.3 115.4
TTM Earnings per share Rs 20.1 23.1
Diluted earnings per share Rs 25.2 28.9
Price to Cash Flow x 33.4 33.7
TTM P/E ratio x 45.6 36.4
Price / Book Value ratio x 1.2 1.4
Market Cap Rs m 20,986 16,767
Dividends per share (Unadj.) Rs 6.0 6.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for MAHINDRA LIFESPACE

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 2.2x during FY19, from 2.7x during FY18. 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 6.7x during FY19, from 3.2x during FY18. 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 6.2% during FY19, from 5.0% during FY19. 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 7.9% during FY19, from 8.3% during FY18. 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 4.4% during FY19, from 4.8% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 2.7 2.2
Debtors’ Days Days 94 85
Interest coverage x 3.2 6.7
Debt to equity ratio x 0.0 0.0
Return on assets % 4.8 4.4
Return on equity % 5.0 6.2
Return on capital employed % 8.3 7.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how MAHINDRA LIFESPACE has performed over the last 5 years, please visit here.

MAHINDRA LIFESPACE Share Price Performance

Over the last one year, MAHINDRA LIFESPACE share price has moved up from Rs 570.7 to Rs 408.9, registering a loss of Rs 161.8 or around 28.4%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,235.8 (up 0.8%). Over the last one year it has moved up from 2,052.8 to 2,235.8, a gain of 183 points (up 8.9%).

Overall, the S&P BSE SENSEX is up 13.0% over the year.

(To know more, check out historical annual results for MAHINDRA LIFESPACE and quarterly results for MAHINDRA LIFESPACE )

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MAHINDRA LIFESPACE Announces Quarterly Results (1QFY20); Net Profit Down 49.9% (Quarterly Result Update)

Jul 29, 2019 | Updated on Jul 29, 2019

For the quarter ended June 2019, MAHINDRA LIFESPACE has posted a net profit of Rs 111 m (down 49.9% YoY). Sales on the other hand came in at Rs 1 bn (down 31.0% YoY). Read on for a complete analysis of MAHINDRA LIFESPACE 's quarterly results.

MAHINDRA LIFESPACE Announces Quarterly Results (4QFY19); Net Profit Up 0.3% (Quarterly Result Update)

Apr 23, 2019 | Updated on Apr 23, 2019

For the quarter ended March 2019, MAHINDRA LIFESPACE has posted a net profit of Rs 144 m (up 0.3% YoY). Sales on the other hand came in at Rs 2 bn (up 44.8% YoY). Read on for a complete analysis of MAHINDRA LIFESPACE 's quarterly results.

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Dec 18, 2018 | Updated on Dec 18, 2018

Here's an analysis of the annual report of MAHINDRA LIFESPACE for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of MAHINDRA LIFESPACE . Also includes updates on the valuation of MAHINDRA LIFESPACE .

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