HIMACHAL FUTURISTIC 2018-19 Annual Report Analysis

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HIMACHAL FUTURISTIC 2018-19 Annual Report Analysis
Mon, 16 Sep

HIMACHAL FUTURISTIC 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.

HIMACHAL FUTURISTIC Income Statement Analysis

  • Operating income during the year rose 46.8% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 45.2% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 8.7% in FY19 as against 8.8% in FY18.
  • Depreciation charges increased by 16.1% and finance costs increased by 44.4% YoY, respectively.
  • Other income grew by 91.8% YoY.
  • Net profit for the year grew by 35.3% YoY.
  • Net profit margins during the year declined from 5.3% in FY18 to 4.9% in FY19.

HIMACHAL FUTURISTIC Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 32,274 47,378 46.8%
Other income Rs m 245 470 91.8%
Total Revenues Rs m 32,519 47,848 47.1%
Gross profit Rs m 2,832 4,113 45.2%
Depreciation Rs m 232 270 16.1%
Interest Rs m 636 919 44.4%
Profit before tax Rs m 2,208 3,394 53.7%
Tax Rs m 487 1,070 119.8%
Profit after tax Rs m 1,717 2,323 35.3%
Gross profit margin % 8.8 8.7
Effective tax rate % 22.1 31.5
Net profit margin % 5.3 4.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HIMACHAL FUTURISTIC Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 17 billion as compared to Rs 13 billion in FY18, thereby witnessing an increase of 35.0%.
  • Long-term debt down at Rs 1 billion as compared to Rs 1 billion during FY18, a fall of 4.9%.
  • Current assets rose 25% and stood at Rs 27 billion, while fixed assets rose 56% and stood at Rs 3 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 33 billion as against Rs 26 billion during FY18, thereby witnessing a growth of 28%.

HIMACHAL FUTURISTIC Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 11,787 14,417 22.3
 
Current Liabilities Rs m 12,671 17,112 35.0
Long-term Debt Rs m 1,413 1,344 -4.9
Total Liabilities Rs m 25,884 33,043 27.7
 
Current assets Rs m 21,450 26,764 24.8
Fixed Assets Rs m 2,114 3,294 55.8
Total Assets Rs m 25,884 33,043 27.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HIMACHAL FUTURISTIC Cash Flow Statement Analysis

  • HIMACHAL FUTURISTIC's cash flow from operating activities (CFO) during FY19 stood at Rs 381 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -2 billion, an improvement of 414.7% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs 674 million, an improvement of 158% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -490 million from the Rs 607 million net cash flows seen during FY18.

HIMACHAL FUTURISTIC 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 2,071 381 -81.6%
Cash Flow from Investing Activities Rs m -300 -1,545 -
Cash Flow from Financing Activities Rs m -1,164 674 -
Net Cash Flow Rs m 607 -490 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for HIMACHAL FUTURISTIC

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.8, an improvement from the EPS of Rs 1.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 19.6, stands at 10.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.3 times, while the price to sales ratio stands at 0.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 9.6 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 26.0 37.2
TTM Earnings per share Rs 1.4 1.8
Diluted earnings per share Rs 1.3 1.8
Price to Cash Flow x 12.6 9.6
TTM P/E ratio x 10.6 10.9
Price / Book Value ratio x 2.6 2.3
Market Cap Rs m 24,292 24,978
Dividends per share (Unadj.) Rs 0.1 6.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for HIMACHAL FUTURISTIC

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.6x during FY19, from 1.7x 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 4.7x during FY19, from 4.5x 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 16.1% during FY19, from 14.6% 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 27.4% during FY19, from 21.5% 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 9.8% during FY19, from 9.1% 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 1.7 1.6
Debtors’ Days Days 134 113
Interest coverage x 4.5 4.7
Debt to equity ratio x 0.1 0.1
Return on assets % 9.1 9.8
Return on equity % 14.6 16.1
Return on capital employed % 21.5 27.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how HIMACHAL FUTURISTIC has performed over the last 5 years, please visit here.

HIMACHAL FUTURISTIC Share Price Performance

Over the last one year, HIMACHAL FUTURISTIC share price has moved down from Rs 23.4 to Rs 19.6, registering a loss of Rs 3.8 or around 16.1%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,790.6 (up 0.3%). Over the last one year it has moved down from 7,855.1 to 7,790.6, a loss of 65 points (down 0.8%).

Overall, the S&P BSE SENSEX is down 2.4% over the year.

(To know more, check out historical annual results for HIMACHAL FUTURISTIC and quarterly results for HIMACHAL FUTURISTIC)

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Related Views on News

HIMACHAL FUTURISTIC Announces Quarterly Results (3QFY20); Net Profit Up 2.5% (Quarterly Result Update)

Jan 22, 2020 | Updated on Jan 22, 2020

For the quarter ended December 2019, HIMACHAL FUTURISTIC has posted a net profit of Rs 496 m (up 2.5% YoY). Sales on the other hand came in at Rs 8 bn (down 26.5% YoY). Read on for a complete analysis of HIMACHAL FUTURISTIC's quarterly results.

HIMACHAL FUTURISTIC Announces Quarterly Results (2QFY20); Net Profit Up 58.0% (Quarterly Result Update)

Oct 25, 2019 | Updated on Oct 25, 2019

For the quarter ended September 2019, HIMACHAL FUTURISTIC has posted a net profit of Rs 628 m (up 58.0% YoY). Sales on the other hand came in at Rs 9 bn (down 18.8% YoY). Read on for a complete analysis of HIMACHAL FUTURISTIC's quarterly results.

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