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HINDUSTAN MEDIA VENT. 2017-18 Annual Report Analysis

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HINDUSTAN MEDIA VENT. 2017-18 Annual Report Analysis
Thu, 10 Jan

HINDUSTAN MEDIA VENT. 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.

HINDUSTAN MEDIA VENT. Income Statement Analysis

  • Operating income during the year fell 5.7% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 11.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 20.6% in FY18 as against 22.0% in FY17.
  • Depreciation charges decreased by 2.7% and finance costs decreased by 29.8% YoY, respectively.
  • Other income grew by 0.5% YoY.
  • Net profit for the year declined by 7.5% YoY.
  • Net profit margins during the year declined from 18.5% in FY17 to 18.0% in FY18.

HINDUSTAN MEDIA VENT. Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 9,333 8,801 -5.7%
Other income Rs m 921 925 0.5%
Total Revenues Rs m 10,253 9,726 -5.1%
Gross profit Rs m 2,055 1,811 -11.9%
Depreciation Rs m 202 197 -2.7%
Interest Rs m 161 113 -29.8%
Profit before tax Rs m 2,612 2,426 -7.1%
Tax Rs m 676 583 -13.8%
Profit after tax Rs m 1,895 1,753 -7.5%
Gross profit margin % 22.0 20.6
Effective tax rate % 25.9 24.0
Net profit margin % 18.5 18.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HINDUSTAN MEDIA VENT. Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 3 billion as compared to Rs 3 billion in FY17, thereby witnessing an increase of 6.1%.
  • Current assets rose 120% and stood at Rs 7 billion, while fixed assets fell 5% and stood at Rs 2 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 17 billion as against Rs 15 billion during FY17, thereby witnessing a growth of 12%.

HINDUSTAN MEDIA VENT. Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 11,668 13,317 14.1
 
Current Liabilities Rs m 2,756 2,925 6.1
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 14,672 16,502 12.5
 
Current assets Rs m 3,249 7,140 119.8
Fixed Assets Rs m 1,735 1,655 -4.6
Total Assets Rs m 14,672 16,502 12.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HINDUSTAN MEDIA VENT. Cash Flow Statement Analysis

  • HINDUSTAN MEDIA VENT.'s cash flow from operating activities (CFO) during FY18 stood at Rs 1 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -809 million, an improvement of 18.3% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -231 million, an improvement of 71% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 182 million from the Rs -68 million net cash flows seen during FY17.

HINDUSTAN MEDIA VENT. 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 1,427 1,222 -14.3%
Cash Flow from Investing Activities Rs m -683 -809 -
Cash Flow from Financing Activities Rs m -811 -231 -
Net Cash Flow Rs m -68 182 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for HINDUSTAN MEDIA VENT.

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 23.9, an decline from the EPS of Rs 25.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 130.6, stands at 6.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.4 times, while the price to sales ratio stands at 2.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 4.7 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 127.2 119.9
TTM Earnings per share Rs 25.8 23.9
Diluted earnings per share Rs 25.8 23.9
Price to Cash Flow x 4.5 4.7
TTM P/E ratio x 6.7 6.7
Price / Book Value ratio x 1.8 1.4
Market Cap Rs m 9,581 9,581
Dividends per share (Unadj.) Rs 1.2 1.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for HINDUSTAN MEDIA VENT.

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.4x 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 22.4x during FY18, from 17.2x 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 13.2% during FY18, from 16.2% 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 18.4% during FY18, from 23.4% 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 11.3% during FY18, from 14.0% 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 2.4
Debtors’ Days Days 45 58
Interest coverage x 17.2 22.4
Debt to equity ratio x 0.0 0.0
Return on assets % 14.0 11.3
Return on equity % 16.2 13.2
Return on capital employed % 23.4 18.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how HINDUSTAN MEDIA VENT. has performed over the last 5 years, please visit here.

HINDUSTAN MEDIA VENT. Share Price Performance

Over the last one year, HINDUSTAN MEDIA VENT. share price has moved up from Rs 263.2 to Rs 130.6, registering a loss of Rs 132.7 or around 50.4%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,121.0 (up 0.2%). Over the last one year it has moved up from 6,525.5 to 7,121.0, a gain of 596 points (up 9.1%).

Overall, the S&P BSE SENSEX is up 5.2% over the year.

(To know more, check out historical annual results for HINDUSTAN MEDIA VENT. and quarterly results for HINDUSTAN MEDIA VENT.)

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Related Views on News

HINDUSTAN MEDIA VENT. Announces Quarterly Results (3QFY19); Net Profit Down 40.8% (Quarterly Result Update)

Jan 16, 2019 | Updated on Jan 16, 2019

For the quarter ended December 2018, HINDUSTAN MEDIA VENT. has posted a net profit of Rs 292 m (down 40.8% YoY). Sales on the other hand came in at Rs 2 bn (down 4.2% YoY). Read on for a complete analysis of HINDUSTAN MEDIA VENT.'s quarterly results.

HINDUSTAN MEDIA VENT. Announces Quarterly Results (4QFY18); Net Profit Down 13.2% (Quarterly Result Update)

Jul 20, 2018 | Updated on Jul 20, 2018

For the quarter ended March 2018, HINDUSTAN MEDIA VENT. has posted a net profit of Rs 403 m (down 13.2% YoY). Sales on the other hand came in at Rs 2 bn (down 13.7% YoY). Read on for a complete analysis of HINDUSTAN MEDIA VENT.'s quarterly results.

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