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HIMATSINGKA SEIDE 2017-18 Annual Report Analysis

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HIMATSINGKA SEIDE 2017-18 Annual Report Analysis
Mon, 8 Oct

HIMATSINGKA SEIDE has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

HIMATSINGKA SEIDE Income Statement Analysis

  • Operating income during the year rose 5.2% 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 rise and up at 19.9% in FY18 as against 17.7% in FY17.
  • Depreciation charges and finance costs increased by 24.0% YoY and 11.0% YoY, respectively.
  • Other income grew by 33.6% YoY.
  • Net profit for the year grew by 10.7% YoY.
  • Net profit margins during the year grew from 8.5% in FY17 to 8.9% in FY18.

HIMATSINGKA SEIDE Income Statement 2017-18

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
Net SalesRs m21,38422,4915.2%
Other incomeRs m13217633.6%
Total RevenuesRs m21,51622,6675.3%
Gross profitRs m3,7774,48618.8%
DepreciationRs m58072024.0%
InterestRs m9351,03811.0%
Profit before taxRs m2,3942,90521.4%
TaxRs m57388855.2%
Profit after taxRs m1,8212,01610.7%
Gross profit margin%17.719.9
Effective tax rate%23.930.6
Net profit margin%8.58.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HIMATSINGKA SEIDE Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 15 billion as compared to Rs 10 billion in FY17, thereby witnessing an increase of 50.2%.
  • Long-term debt stood at Rs 12 billion as compared to Rs 7 billion during FY17, a growth of 64.4%.
  • Current assets rose 44% and stood at Rs 18 billion, while fixed assets rose 64% and stood at Rs 23 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 42 billion as against Rs 29 billion during FY17, thereby witnessing a growth of 46%.

HIMATSINGKA SEIDE Balance Sheet as on March 2018

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
NetworthRs m10,67312,27515.0
 
Current LiabilitiesRs m10,15615,25150.2
Long-term DebtRs m7,39812,16564.4
Total LiabilitiesRs m28,93442,19045.8
 
Current assetsRs m12,25117,62443.9
Fixed AssetsRs m 13,79822,67664.3
Total AssetsRs m28,93442,19045.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HIMATSINGKA SEIDE Cash Flow Statement Analysis

  • HIMATSINGKA SEIDE's cash flow from operating activities (CFO) during FY18 stood at Rs 195 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -6 billion, an improvement of 18.2% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 7 billion, an improvement of 128% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 504 million from the Rs -625 million net cash flows seen during FY17.

HIMATSINGKA SEIDE Cash Flow Statement 2017-18

ParticularsNo. of months1212% Change
Year EndingMar-17Mar-18
Cash Flow from Operating ActivitiesRs m1,857195-89.5%
Cash Flow from Investing ActivitiesRs m-5,436-6,426-
Cash Flow from Financing ActivitiesRs m2,9556,733127.9%
Net Cash FlowRs m-625504-
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for HIMATSINGKA SEIDE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 20.5, an improvement from the EPS of Rs 18.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 225.9, stands at 11.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.9 times, while the price to sales ratio stands at 1.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 8.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Sales per share (Unadj.)Rs217.2228.4
TTM Earnings per shareRs18.520.5
Diluted earnings per shareRs18.520.5
Price to Cash Flow x9.38.1
TTM P/E ratiox11.411.4
Price / Book Value ratiox2.62.9
Market CapRs m22,23722,237
Dividends per share (Unadj.)Rs2.52.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for HIMATSINGKA SEIDE

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.2x during FY18, from 1.2x during FY17. 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 deteriorated and stood at 3.8x during FY18, from 3.6x during FY17. 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 declined and down at 16.4% during FY18, from 17.1% during FY18. 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 16.1% during FY18, from 18.4% during FY17. 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 7.2% during FY18, from 9.5% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Current ratiox1.21.2
Debtors’ DaysDays1216
Interest coveragex3.63.8
Debt to equity ratiox0.71.0
Return on assets%9.57.2
Return on equity%17.116.4
Return on capital employed%18.416.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how HIMATSINGKA SEIDE has performed over the last 5 years, please visit here.

HIMATSINGKA SEIDE Share Price Performance

Over the last one year, HIMATSINGKA SEIDE share price has moved up from Rs 341.4 to Rs 225.9, registering a loss of Rs 115.6 or around 33.8%.

Overall, the S&P BSE SENSEX is up 7.7% over the year.

(To know more, check out historical annual results for HIMATSINGKA SEIDE and quarterly results for HIMATSINGKA SEIDE)

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Related Views on News

HIMATSINGKA SEIDE Announces Quarterly Results (3QFY19); Net Profit Up 2.1% (Quarterly Result Update)

Feb 13, 2019 | Updated on Feb 13, 2019

For the quarter ended December 2018, HIMATSINGKA SEIDE has posted a net profit of Rs 512 m (up 2.1% YoY). Sales on the other hand came in at Rs 7 bn (up 13.9% YoY). Read on for a complete analysis of HIMATSINGKA SEIDE's quarterly results.

HIMATSINGKA SEIDE 2017-18 Annual Report Analysis (Annual Result Update)

Dec 19, 2018 | Updated on Dec 19, 2018

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

HIMATSINGKA SEIDE Announces Quarterly Results (2QFY19); Net Profit Up 4.3% (Quarterly Result Update)

Nov 12, 2018 | Updated on Nov 12, 2018

For the quarter ended September 2018, HIMATSINGKA SEIDE has posted a net profit of Rs 527 m (up 4.3% YoY). Sales on the other hand came in at Rs 7 bn (up 15.1% YoY). Read on for a complete analysis of HIMATSINGKA SEIDE's quarterly results.

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