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GOKUL AGRO RESOURCES 2020-21 Annual Report Analysis
Wed, 31 Mar

GOKUL AGRO RESOURCES 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.

GOKUL AGRO RESOURCES Income Statement Analysis

  • Operating income during the year rose 50.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 18.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 1.7% in FY21 as against 2.1% in FY20.
  • Depreciation charges increased by 31.5% and finance costs decreased by 26.5% YoY, respectively.
  • Other income grew by 15.4% YoY.
  • Net profit for the year grew by 132.8% YoY.
  • Net profit margins during the year grew from 0.3% in FY20 to 0.5% in FY21.

GOKUL AGRO RESOURCES Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 55,873 83,866 50.1%
Other income Rs m 131 152 15.4%
Total Revenues Rs m 56,004 84,017 50.0%
Gross profit Rs m 1,197 1,423 18.8%
Depreciation Rs m 226 298 31.5%
Interest Rs m 838 616 -26.5%
Profit before tax Rs m 264 660 150.1%
Tax Rs m 72 214 196.1%
Profit after tax Rs m 192 447 132.8%
Gross profit margin % 2.1 1.7
Effective tax rate % 27.3 32.3
Net profit margin % 0.3 0.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Read Now: We're Bullish on 2 Non-Nifty Stocks

GOKUL AGRO RESOURCES Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 12 billion as compared to Rs 11 billion in FY20, thereby witnessing an increase of 5.2%.
  • Long-term debt down at Rs 230 million as compared to Rs 337 million during FY20, a fall of 31.6%.
  • Current assets rose 8% and stood at Rs 13 billion, while fixed assets fell 2% and stood at Rs 2 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 16 billion as against Rs 15 billion during FY20, thereby witnessing a growth of 6%.

GOKUL AGRO RESOURCES Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 3,006 3,454 14.9
 
Current Liabilities Rs m 11,050 11,623 5.2
Long-term Debt Rs m 337 230 -31.6
Total Liabilities Rs m 14,592 15,535 6.5
 
Current assets Rs m 12,065 13,070 8.3
Fixed Assets Rs m 2,527 2,466 -2.4
Total Assets Rs m 14,592 15,535 6.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



GOKUL AGRO RESOURCES Cash Flow Statement Analysis

  • GOKUL AGRO RESOURCES's cash flow from operating activities (CFO) during FY21 stood at Rs 1 billion, an improvement of 11.7% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -80 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -1 billion on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 123 million from the Rs 165 million net cash flows seen during FY20.

GOKUL AGRO RESOURCES 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 1,317 1,471 11.7%
Cash Flow from Investing Activities Rs m -318 -80 -
Cash Flow from Financing Activities Rs m -834 -1,268 -
Net Cash Flow Rs m 165 123 -25.5%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for GOKUL AGRO RESOURCES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.4, an improvement from the EPS of Rs 1.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 20.3, stands at 6.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.8 times, while the price to sales ratio stands at 0.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 3.1 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 423.6 635.8
TTM Earnings per share Rs 1.5 3.4
Diluted earnings per share Rs 1.3 3.1
Price to Cash Flow x 2.8 3.1
TTM P/E ratio x 6.1 6.5
Price / Book Value ratio x 0.6 0.7
Market Cap Rs m 1,766 2,340
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for GOKUL AGRO RESOURCES

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.1x during FY21, from 1.1x 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 2.1x during FY21, from 1.3x 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 12.9% during FY21, from 6.4% 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 34.7% during FY21, from 33.0% 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 6.8% during FY21, from 7.1% 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 1.1 1.1
Debtors’ Days Days 248 243
Interest coverage x 1.3 2.1
Debt to equity ratio x 0.1 0.1
Return on assets % 7.1 6.8
Return on equity % 6.4 12.9
Return on capital employed % 33.0 34.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how GOKUL AGRO RESOURCES has performed over the last 5 years, please visit here.

GOKUL AGRO RESOURCES Share Price Performance

Over the last one year, GOKUL AGRO RESOURCES share price has moved up from Rs 8.2 to Rs 20.3, registering a gain of Rs 12.1 or around 148.2%.

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

(To know more, check out historical annual results for GOKUL AGRO RESOURCES and quarterly results for GOKUL AGRO RESOURCES)

Annual Report FAQs

What is the current share price of GOKUL AGRO RESOURCES?

GOKUL AGRO RESOURCES currently trades at Rs 109.0 per share. You can check out the latest share price performance of GOKUL AGRO RESOURCES here...

What was the revenue of GOKUL AGRO RESOURCES in FY21? How does it compare to earlier years?

The revenues of GOKUL AGRO RESOURCES stood at Rs 84,017 m in FY21, which was up 50.0% compared to Rs 56,004 m reported in FY20.

GOKUL AGRO RESOURCES' revenue has grown from Rs 43,154 m in FY17 to Rs 84,017 m in FY21.

Over the past 5 years, the revenue of GOKUL AGRO RESOURCES has grown at a CAGR of 18.1%.

What was the net profit of GOKUL AGRO RESOURCES in FY21? How does it compare to earlier years?

The net profit of GOKUL AGRO RESOURCES stood at Rs 447 m in FY21, which was up 132.8% compared to Rs 192 m reported in FY20.

This compares to a net profit of Rs 109 m in FY19 and a net profit of Rs 155 m in FY18.

Over the past 5 years, GOKUL AGRO RESOURCES net profit has grown at a CAGR of 22.3%.

What does the cash flow statement of GOKUL AGRO RESOURCES 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 GOKUL AGRO RESOURCES reveals:

  • Cash flow from operations increased in FY21 and stood at Rs 1,471 m as compared to Rs 1,317 m in FY20.
  • Cash flow from investments increased in FY21 and stood at Rs -80 m as compared to Rs -318 m in FY20.
  • Cash flow from financial activity decreased in FY21 and stood at Rs -1,268 m as compared to Rs -834 m in FY20.

Here's the cash flow statement of GOKUL AGRO RESOURCES for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations-74-5221,0171,3171,471
From Investments114-683-149-318-80
From Financial Activity32528-985-834-1,268
Net Cashflow365-1,177-117165123

What does the Key Ratio analysis of GOKUL AGRO RESOURCES 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 GOKUL AGRO RESOURCES reveals:

  • Operating profit margins witnessed a fall and stood at 1.7% in FY21 as against 2.1% in FY20.
  • Net profit margins grew from 0.3% in FY20 to 0.5% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.1 as compared to 0.1 in FY20.

Here's the ratio/financial analysis of GOKUL AGRO RESOURCES for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)2.02.12.62.11.7
Net Profit Margin (%)0.50.30.20.30.5
Debt to Equity Ratio (x)0.20.20.20.10.1

Read: Latest Annual Report Analysis of GOKUL AGRO RESOURCES

 

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