HAVELLS IND 2018-19 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

HAVELLS IND 2018-19 Annual Report Analysis
Mon, 30 Sep

HAVELLS IND 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.

HAVELLS IND Income Statement Analysis

  • Operating income during the year rose 23.7% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 13.5% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 11.8% in FY19 as against 12.8% in FY18.
  • Depreciation charges increased by 8.6% and finance costs decreased by 34.6% YoY, respectively.
  • Other income grew by 9.1% YoY.
  • Net profit for the year grew by 16.7% YoY.
  • Net profit margins during the year declined from 8.1% in FY18 to 7.7% in FY19.

HAVELLS IND Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 81,464 100,734 23.7%
Other income Rs m 1,179 1,287 9.1%
Total Revenues Rs m 82,643 102,021 23.4%
Gross profit Rs m 10,434 11,844 13.5%
Depreciation Rs m 1,405 1,526 8.6%
Interest Rs m 248 163 -34.6%
Profit before tax Rs m 9,960 11,441 14.9%
Tax Rs m 3,038 3,583 17.9%
Profit after tax Rs m 6,735 7,859 16.7%
Gross profit margin % 12.8 11.8
Effective tax rate % 30.5 31.3
Net profit margin % 8.1 7.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Airs Tomorrow at 5pm: The Instant Income Summit

HAVELLS IND Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 25 billion as compared to Rs 25 billion in FY18, thereby witnessing an increase of 0.4%.
  • Long-term debt down at Rs 405 million as compared to Rs 810 million during FY18, a fall of 50.0%.
  • Current assets rose 4% and stood at Rs 38 billion, while fixed assets rose 137% and stood at Rs 32 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 72 billion as against Rs 66 billion during FY18, thereby witnessing a growth of 9%.

HAVELLS IND Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 37,292 42,180 13.1
 
Current Liabilities Rs m 25,300 25,396 0.4
Long-term Debt Rs m 810 405 -50.0
Total Liabilities Rs m 66,075 71,723 8.5
 
Current assets Rs m 36,896 38,262 3.7
Fixed Assets Rs m 13,319 31,606 137.3
Total Assets Rs m 66,075 71,723 8.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HAVELLS IND Cash Flow Statement Analysis

  • HAVELLS IND's cash flow from operating activities (CFO) during FY19 stood at Rs 5 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 2 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -3 billion, an improvement of 22% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 4 billion from the Rs -3 billion net cash flows seen during FY18.

HAVELLS IND 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 10,999 5,013 -54.4%
Cash Flow from Investing Activities Rs m -9,441 1,883 -
Cash Flow from Financing Activities Rs m -4,091 -3,181 -
Net Cash Flow Rs m -2,554 3,681 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for HAVELLS IND

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 12.6, an improvement from the EPS of Rs 10.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 719.0, stands at 59.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 9.6 times, while the price to sales ratio stands at 4.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 47.8 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 130.3 161.1
TTM Earnings per share Rs 10.8 12.6
Diluted earnings per share Rs 10.8 12.6
Price to Cash Flow x 55.2 47.8
TTM P/E ratio x 59.5 59.5
Price / Book Value ratio x 8.6 9.6
Market Cap Rs m 449,483 449,001
Dividends per share (Unadj.) Rs 4.0 4.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for HAVELLS IND

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.5x during FY19, from 1.5x 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 71.4x during FY19, from 41.1x 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 18.6% during FY19, from 18.1% 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 improved and stood at 27.2% during FY19, from 26.3% 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 improved and stood at 11.2% during FY19, from 10.6% 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 1.5 1.5
Debtors’ Days Days 15 15
Interest coverage x 41.1 71.4
Debt to equity ratio x 0.0 0.0
Return on assets % 10.6 11.2
Return on equity % 18.1 18.6
Return on capital employed % 26.3 27.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how HAVELLS IND has performed over the last 5 years, please visit here.

HAVELLS IND Share Price Performance

Over the last one year, HAVELLS IND share price has moved up from Rs 594.1 to Rs 719.0, registering a gain of Rs 124.9 or around 21.0%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 26,009.5 (down 0.5%). Over the last one year it has moved up from 19,134.3 to 26,009.5, a gain of 6,875 points (up 35.9%).

Overall, the S&P BSE SENSEX is up 6.0% over the year.

(To know more, check out historical annual results for HAVELLS IND and quarterly results for HAVELLS IND)

Equitymaster requests your view! Post a comment on "HAVELLS IND 2018-19 Annual Report Analysis". Click here!

  

Related Views on News

HAVELLS IND Announces Quarterly Results (4QFY20); Net Profit Down 14.3% (Quarterly Result Update)

May 14, 2020 | Updated on May 14, 2020

For the quarter ended March 2020, HAVELLS IND has posted a net profit of Rs 2 bn (down 14.3% YoY). Sales on the other hand came in at Rs 22 bn (down 19.5% YoY). Read on for a complete analysis of HAVELLS IND's quarterly results.

HAVELLS IND Announces Quarterly Results (3QFY20); Net Profit Up 2.4% (Quarterly Result Update)

Jan 22, 2020 | Updated on Jan 22, 2020

For the quarter ended December 2019, HAVELLS IND has posted a net profit of Rs 2 bn (up 2.4% YoY). Sales on the other hand came in at Rs 23 bn (down 9.9% YoY). Read on for a complete analysis of HAVELLS IND's quarterly results.

HAVELLS IND 2017-18 Annual Report Analysis (Annual Result Update)

Aug 21, 2018 | Updated on Aug 21, 2018

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

More Views on News

Most Popular

How to Find the Best Stocks for Day Trading - 1(Fast Profits Daily)

Jul 2, 2020

In the first of two videos, I'll show you how to identify the best stocks for intraday trading.

Two Agri Stocks Are Likely to Outperform Even in this Market(Profit Hunter)

Jul 2, 2020

Why we have recommended two agriculture stocks for our Hidden Treasure subscribers. Read on...

A Warning for Traders: Don't Get Addicted to Hopium(Fast Profits Daily)

Jun 30, 2020

If you are a trader, you must watch out for this dangerous addiction.

Smallcaps Are in a Sweet Spot Again: Are You Buying?(Profit Hunter)

Jul 3, 2020

This is why I believe smallcaps are the place to be in the near future.

More

India's #1 Trader
Reveals His Secrets

The Secret to Increasing Your Trading Profits Today
Get this Special Report, The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

TRACK HAVELLS IND

  • Track your investment in HAVELLS IND with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

HAVELLS IND - HONEYWELL AUTOMATION COMPARISON

COMPARE HAVELLS IND WITH

MARKET STATS