HERCULES HOISTS 2018-19 Annual Report Analysis

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HERCULES HOISTS 2018-19 Annual Report Analysis
Thu, 19 Sep

HERCULES HOISTS 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.

HERCULES HOISTS Income Statement Analysis

  • Operating income during the year rose 35.4% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 143.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 9.2% in FY19 as against 5.1% in FY18.
  • Depreciation charges increased by 3.4% and finance costs decreased by 100.0% YoY, respectively.
  • Other income declined by 0.5% YoY.
  • Net profit for the year grew by 30.8% YoY.
  • Net profit margins during the year declined from 11.5% in FY18 to 11.4% in FY19.

HERCULES HOISTS Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 755 1,022 35.4%
Other income Rs m 98 98 -0.5%
Total Revenues Rs m 853 1,119 31.3%
Gross profit Rs m 39 94 143.9%
Depreciation Rs m 29 30 3.4%
Interest Rs m 0 0 -100.0%
Profit before tax Rs m 107 161 50.7%
Tax Rs m 9 33 264.8%
Profit after tax Rs m 98 128 30.8%
Gross profit margin % 5.1 9.2
Effective tax rate % 8.5 20.6
Net profit margin % 11.5 11.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HERCULES HOISTS Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 163 million as compared to Rs 139 million in FY18, thereby witnessing an increase of 17.3%.
  • Current assets rose 18% and stood at Rs 1 billion, while fixed assets rose 2% and stood at Rs 360 million in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 5 billion as against Rs 4 billion during FY18, thereby witnessing a growth of 14%.

HERCULES HOISTS Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 3,801 4,268 12.3
 
Current Liabilities Rs m 139 163 17.3
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 3,969 4,507 13.6
 
Current assets Rs m 966 1,143 18.3
Fixed Assets Rs m 352 360 2.1
Total Assets Rs m 3,969 4,507 13.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HERCULES HOISTS Cash Flow Statement Analysis

  • HERCULES HOISTS's cash flow from operating activities (CFO) during FY19 stood at Rs 128 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -45 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -48 million on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 35 million from the Rs -1 million net cash flows seen during FY18.

HERCULES HOISTS 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 151 128 -15.3%
Cash Flow from Investing Activities Rs m -114 -45 -
Cash Flow from Financing Activities Rs m -39 -48 -
Net Cash Flow Rs m -1 35 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for HERCULES HOISTS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 4.0, an improvement from the EPS of Rs 3.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 91.6, stands at 22.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.9 times, while the price to sales ratio stands at 3.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 18.5 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 23.6 31.9
TTM Earnings per share Rs 3.1 4.0
Diluted earnings per share Rs 3.1 4.0
Price to Cash Flow x 23.1 18.5
TTM P/E ratio x 22.7 22.7
Price / Book Value ratio x 1.2 0.9
Market Cap Rs m 2,931 2,931
Dividends per share (Unadj.) Rs 1.3 1.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for HERCULES HOISTS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 7.0x during FY19, from 7.0x during FY18. The current ratio measures the company's ability to pay short-term and long-term obligations.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company improved and stood at 3.0% during FY19, from 2.6% 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 3.8% during FY19, from 2.8% 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 2.8% during FY19, from 2.5% 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 7.0 7.0
Debtors’ Days Days 91 41
Interest coverage x 268.5 0.0
Debt to equity ratio x 0.0 0.0
Return on assets % 2.5 2.8
Return on equity % 2.6 3.0
Return on capital employed % 2.8 3.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how HERCULES HOISTS has performed over the last 5 years, please visit here.

HERCULES HOISTS Share Price Performance

Over the last one year, HERCULES HOISTS share price has moved down from Rs 111.9 to Rs 91.6, registering a loss of Rs 20.3 or around 18.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,786.8 (down 1.0%). Over the last one year it has moved down from 18,168.6 to 16,786.8, a loss of 1,382 points (down 7.6%).

Overall, the S&P BSE SENSEX is down 2.7% over the year.

(To know more, check out historical annual results for HERCULES HOISTS and quarterly results for HERCULES HOISTS)

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