HAWKINS COOKERS 2018-19 Annual Report Analysis

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HAWKINS COOKERS 2018-19 Annual Report Analysis
Thu, 26 Sep

HAWKINS COOKERS 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.

HAWKINS COOKERS Income Statement Analysis

  • Operating income during the year rose 18.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 22.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.2% in FY19 as against 12.8% in FY18.
  • Depreciation charges increased by 9.6% and finance costs decreased by 3.9% YoY, respectively.
  • Other income declined by 62.7% YoY.
  • Net profit for the year grew by 11.4% YoY.
  • Net profit margins during the year declined from 8.6% in FY18 to 8.3% in FY19.

HAWKINS COOKERS Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 5,526 6,528 18.1%
Other income Rs m 111 41 -62.7%
Total Revenues Rs m 5,637 6,570 16.6%
Gross profit Rs m 705 862 22.2%
Depreciation Rs m 37 40 9.6%
Interest Rs m 41 40 -3.9%
Profit before tax Rs m 738 823 11.6%
Tax Rs m 251 281 11.9%
Profit after tax Rs m 487 542 11.4%
Gross profit margin % 12.8 13.2
Effective tax rate % 34.0 34.2
Net profit margin % 8.6 8.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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HAWKINS COOKERS Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 1 billion as compared to Rs 1 billion in FY18, thereby witnessing an increase of 4.9%.
  • Long-term debt stood at Rs 213 million as compared to Rs 138 million during FY18, a growth of 54.4%.
  • Current assets rose 8% and stood at Rs 2 billion, while fixed assets rose 17% and stood at Rs 283 million in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 3 billion as against Rs 2 billion during FY18, thereby witnessing a growth of 9%.

HAWKINS COOKERS Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 1,098 1,186 8.0
 
Current Liabilities Rs m 1,176 1,233 4.9
Long-term Debt Rs m 138 213 54.4
Total Liabilities Rs m 2,455 2,672 8.8
 
Current assets Rs m 2,154 2,328 8.1
Fixed Assets Rs m 242 283 16.8
Total Assets Rs m 2,455 2,672 8.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HAWKINS COOKERS Cash Flow Statement Analysis

  • HAWKINS COOKERS's cash flow from operating activities (CFO) during FY19 stood at Rs -62 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 416 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -453 million, an improvement of 14% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -99 million from the Rs 41 million net cash flows seen during FY18.

HAWKINS COOKERS 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 692 -62 -
Cash Flow from Investing Activities Rs m -126 416 -
Cash Flow from Financing Activities Rs m -525 -453 -
Net Cash Flow Rs m 41 -99 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for HAWKINS COOKERS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 102.5, an improvement from the EPS of Rs 92.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 3,303.0, stands at 30.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 13.8 times, while the price to sales ratio stands at 2.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 30.0 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 1,044.5 1,234.1
TTM Earnings per share Rs 92.0 102.5
Diluted earnings per share Rs 92.0 102.5
Price to Cash Flow x 33.4 30.0
TTM P/E ratio x 30.5 30.5
Price / Book Value ratio x 14.2 13.8
Market Cap Rs m 17,473 17,473
Dividends per share (Unadj.) Rs 70.0 80.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for HAWKINS COOKERS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.9x during FY19, from 1.8x 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 21.7x during FY19, from 18.8x 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 45.7% during FY19, from 44.3% 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 61.7% during FY19, from 63.0% 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 21.8% during FY19, from 21.5% 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 1.8 1.9
Debtors’ Days Days 31 44
Interest coverage x 18.8 21.7
Debt to equity ratio x 0.1 0.2
Return on assets % 21.5 21.8
Return on equity % 44.3 45.7
Return on capital employed % 63.0 61.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how HAWKINS COOKERS has performed over the last 5 years, please visit here.

HAWKINS COOKERS Share Price Performance

Over the last one year, HAWKINS COOKERS share price has moved up from Rs 2,984.5 to Rs 3,303.0, registering a gain of Rs 318.6 or around 10.7%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 26,031.8 (up 1.0%). Over the last one year it has moved up from 19,856.0 to 26,031.8, a gain of 6,176 points (up 31.1%).

Overall, the S&P BSE SENSEX is up 6.1% over the year.

(To know more, check out historical annual results for HAWKINS COOKERS and quarterly results for HAWKINS COOKERS)

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Related Views on News

HAWKINS COOKERS Announces Quarterly Results (3QFY21); Net Profit Up 7.8% (Quarterly Result Update)

Feb 5, 2021 | Updated on Feb 5, 2021

For the quarter ended December 2020, HAWKINS COOKERS has posted a net profit of Rs 242 m (up 7.8% YoY). Sales on the other hand came in at Rs 2 bn (up 19.6% YoY). Read on for a complete analysis of HAWKINS COOKERS's quarterly results.

HAWKINS COOKERS Announces Quarterly Results (1QFY21); Net Profit Down 53.0% (Quarterly Result Update)

Aug 10, 2020 | Updated on Aug 10, 2020

For the quarter ended June 2020, HAWKINS COOKERS has posted a net profit of Rs 64 m (down 53.0% YoY). Sales on the other hand came in at Rs 1 bn (down 29.1% YoY). Read on for a complete analysis of HAWKINS COOKERS's quarterly results.

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