GUJ.MINERAL DEV. 2017-18 Annual Report Analysis

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GUJ.MINERAL DEV. 2017-18 Annual Report Analysis
Wed, 19 Dec

GUJ.MINERAL DEV. has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

GUJ.MINERAL DEV. Income Statement Analysis

  • Operating income during the year rose 33.5% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 30.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 26.7% in FY18 as against 27.2% in FY17.
  • Depreciation charges decreased by 26.2% and finance costs increased by 22.6% YoY, respectively.
  • Other income declined by 32.8% YoY.
  • Net profit for the year grew by 8.6% YoY.
  • Net profit margins during the year declined from 18.9% in FY17 to 16.2% in FY18.

GUJ.MINERAL DEV. Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 15,367 20,509 33.5%
Other income Rs m 1,815 1,220 -32.8%
Total Revenues Rs m 17,181 21,730 26.5%
Gross profit Rs m 4,184 5,475 30.9%
Depreciation Rs m 1,513 1,117 -26.2%
Interest Rs m 13 16 22.6%
Profit before tax Rs m 4,473 5,563 24.4%
Tax Rs m 1,218 1,223 0.5%
Profit after tax Rs m 3,251 3,531 8.6%
Gross profit margin % 27.2 26.7
Effective tax rate % 27.2 22.0
Net profit margin % 18.9 16.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



GUJ.MINERAL DEV. Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 4 billion as compared to Rs 4 billion in FY17, thereby witnessing an decrease of -7.6%.
  • Current assets rose 2% and stood at Rs 15 billion, while fixed assets rose 5% and stood at Rs 24 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 54 billion as against Rs 51 billion during FY17, thereby witnessing a growth of 6%.

GUJ.MINERAL DEV. Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 40,006 43,519 8.8
 
Current Liabilities Rs m 4,373 4,038 -7.6
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 51,141 54,230 6.0
 
Current assets Rs m 14,412 14,664 1.7
Fixed Assets Rs m 23,008 24,159 5.0
Total Assets Rs m 51,141 54,230 6.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



GUJ.MINERAL DEV. Cash Flow Statement Analysis

  • GUJ.MINERAL DEV.'s cash flow from operating activities (CFO) during FY18 stood at Rs 3 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -1 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -1 billion, an improvement of 0% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 64 million from the Rs -127 million net cash flows seen during FY17.

GUJ.MINERAL DEV. Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 4,525 2,587 -42.8%
Cash Flow from Investing Activities Rs m -3,503 -1,375 -
Cash Flow from Financing Activities Rs m -1,149 -1,148 -
Net Cash Flow Rs m -127 64 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for GUJ.MINERAL DEV.

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 11.1, an improvement from the EPS of Rs 10.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 91.1, stands at 20.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.1 times, while the price to sales ratio stands at 2.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 5.3 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 48.3 64.5
TTM Earnings per share Rs 10.2 11.1
Diluted earnings per share Rs 10.2 11.1
Price to Cash Flow x 6.1 5.3
TTM P/E ratio x 20.2 20.2
Price / Book Value ratio x 0.8 1.1
Market Cap Rs m 28,954 28,954
Dividends per share (Unadj.) Rs 3.0 3.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for GUJ.MINERAL DEV.

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 3.6x during FY18, from 3.3x during FY17. 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 342.3x during FY18, from 337.3x during FY17. 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 8.1% during FY18, from 8.1% during FY18. 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 11.0% during FY18, from 11.2% during FY17. 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 6.5% during FY18, from 6.4% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 3.3 3.6
Debtors’ Days Days 28 20
Interest coverage x 337.3 342.3
Debt to equity ratio x 0.0 0.0
Return on assets % 6.4 6.5
Return on equity % 8.1 8.1
Return on capital employed % 11.2 11.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

GUJ.MINERAL DEV. Share Price Performance

Over the last one year, GUJ.MINERAL DEV. share price has moved up from Rs 161.1 to Rs 91.1, registering a loss of Rs 70.1 or around 43.5%.

Overall, the S&P BSE SENSEX is up 8.6% over the year.

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

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