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HIMATSINGKA SEIDE 2017-18 Annual Report Analysis
Sat, 31 Mar

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 18.6% YoY during the fiscal. Operating profit margins witnessed a fall and down at 20.1% in FY18 as against 17.8% in FY17.
  • Depreciation charges increased by 24.0% and finance costs increased by 10.6% 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 9.0% in FY18.

HIMATSINGKA SEIDE Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 21,384 22,491 5.2%
Other income Rs m 132 176 33.6%
Total Revenues Rs m 21,516 22,667 5.3%
Gross profit Rs m 3,806 4,514 18.6%
Depreciation Rs m 580 719 24.0%
Interest Rs m 964 1,066 10.6%
Profit before tax Rs m 2,394 2,905 21.4%
Tax Rs m 573 888 55.2%
Profit after tax Rs m 1,821 2,016 10.7%
Gross profit margin % 17.8 20.1
Effective tax rate % 23.9 30.6
Net profit margin % 8.5 9.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

HIMATSINGKA SEIDE Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 16 billion as compared to Rs 11 billion in FY17, thereby witnessing an increase of 45.0%.
  • Long-term debt stood at Rs 12 billion as compared to Rs 7 billion during FY17, a growth of 64.4%.
  • Current assets rose 40% and stood at Rs 18 billion, while fixed assets rose 51% and stood at Rs 26 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 44 billion as against Rs 30 billion during FY17, thereby witnessing a growth of 46%.

HIMATSINGKA SEIDE Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 10,673 12,275 15.0
 
Current Liabilities Rs m 10,813 15,680 45.0
Long-term Debt Rs m 7,398 12,165 64.4
Total Liabilities Rs m 29,808 43,597 46.3
 
Current assets Rs m 12,907 18,053 39.9
Fixed Assets Rs m 16,901 25,544 51.1
Total Assets Rs m 29,808 43,597 46.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, 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 505 million from the Rs -625 million net cash flows seen during FY17.

HIMATSINGKA SEIDE Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 1,857 195 -89.5%
Cash Flow from Investing Activities Rs m -5,436 -6,426 -
Cash Flow from Financing Activities Rs m 2,955 6,733 127.9%
Net Cash Flow Rs m -625 505 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, 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 349.8, stands at 17.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.8 times, while the price to sales ratio stands at 1.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 13.2 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 217.2 228.4
TTM Earnings per share Rs 18.5 20.5
Diluted earnings per share Rs 18.5 20.5
Price to Cash Flow x 14.0 13.2
TTM P/E ratio x 18.9 17.1
Price / Book Value ratio x 2.6 2.9
Market Cap Rs m 28,092 36,176
Dividends per share (Unadj.) Rs 2.5 2.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for HIMATSINGKA SEIDE

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated 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 improved and stood at 3.7x during FY18, from 3.5x 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 16.2% during FY18, from 18.6% 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 7.1% during FY18, from 9.3% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 1.2 1.2
Debtors’ Days Days 117 161
Interest coverage x 3.5 3.7
Debt to equity ratio x 0.7 1.0
Return on assets % 9.3 7.1
Return on equity % 17.1 16.4
Return on capital employed % 18.6 16.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, 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 340.9 to Rs 349.8, registering a gain of Rs 8.9 or around 2.6%.

Overall, the S&P BSE SENSEX is up 12.1% over the year.

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

Annual Report FAQs

What is the current share price of HIMATSINGKA SEIDE?

HIMATSINGKA SEIDE currently trades at Rs 122.2 per share. You can check out the latest share price performance of HIMATSINGKA SEIDE here...

What was the revenue of HIMATSINGKA SEIDE in FY18? How does it compare to earlier years?

The revenues of HIMATSINGKA SEIDE stood at Rs 22,667 m in FY18, which was up 5.3% compared to Rs 21,516 m reported in FY17.

HIMATSINGKA SEIDE's revenue has grown from Rs 19,066 m in FY16 to Rs 22,667 m in FY18.

Over the past 3 years, the revenue of HIMATSINGKA SEIDE has grown at a CAGR of 9.0%.

What was the net profit of HIMATSINGKA SEIDE in FY18? How does it compare to earlier years?

The net profit of HIMATSINGKA SEIDE stood at Rs 2,016 m in FY18, which was up 10.7% compared to Rs 1,821 m reported in FY17.

This compares to a net profit of Rs 1,253 m in FY16.

Over the past 3 years, HIMATSINGKA SEIDE net profit has grown at a CAGR of 26.9%.

What does the cash flow statement of HIMATSINGKA SEIDE reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of HIMATSINGKA SEIDE reveals:

  • Cash flow from operations decreased in FY18 and stood at Rs 195 m as compared to Rs 1,857 m in FY17.
  • Cash flow from investments decreased in FY18 and stood at Rs -6,426 m as compared to Rs -5,436 m in FY17.
  • Cash flow from financial activity increased in FY18 and stood at Rs 6,733 m as compared to Rs 2,955 m in FY17.

Here's the cash flow statement of HIMATSINGKA SEIDE for the past 3 years.

(Rs m)FY16FY17FY18
From Operations1,8101,857195
From Investments-1,230-5,436-6,426
From Financial Activity2582,9556,733
Net Cashflow855-625505

What does the Key Ratio analysis of HIMATSINGKA SEIDE reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of HIMATSINGKA SEIDE reveals:

  • Operating profit margins witnessed a fall and down at 20.1% in FY18 as against 17.8% in FY17.
  • Net profit margins grew from 8.5% in FY17 to 9.0% in FY18.
  • Debt to Equity ratio for FY18 stood at 1.0 as compared to 0.7 in FY17.

Here's the ratio/financial analysis of HIMATSINGKA SEIDE for the past 3 years.

 FY16FY17FY18
Operating Profit Margin (%)15.717.820.1
Net Profit Margin (%)6.68.59.0
Debt to Equity Ratio (x)0.60.71.0

Read: Latest Annual Report Analysis of HIMATSINGKA SEIDE

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