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HIND.OIL EXP 2017-18 Annual Report Analysis

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HIND.OIL EXP 2017-18 Annual Report Analysis
Mon, 13 Aug

HIND.OIL EXP 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.

HIND.OIL EXP Income Statement Analysis

  • Operating income during the year rose 91.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 2190.6% YoY during the fiscal. Operating profit margins witnessed a fall and down at 63.0% in FY18 as against 5.3% in FY17.
  • Depreciation charges decreased by 11.8% YoY.
  • Other income declined by 38.7% YoY.
  • Net profit for the year grew by 4.0% YoY.
  • Net profit margins during the year declined from 80.5% in FY17 to 62.0% in FY18.

HIND.OIL EXP Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 255 487 91.0%
Other income Rs m 193 118 -38.7%
Total Revenues Rs m 448 606 35.1%
Gross profit Rs m 13 307 2,190.6%
Depreciation Rs m 96 85 -11.8%
Interest Rs m 0 10 0.0%
Profit before tax Rs m 111 330 198.5%
Tax Rs m 40 0 -100.0%
Profit after tax Rs m 361 375 4.0%
Gross profit margin % 5.3 63.0
Effective tax rate % 35.7 0.0
Net profit margin % 80.5 62.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HIND.OIL EXP Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 422 million as compared to Rs 675 million in FY17, thereby witnessing an decrease of -37.4%.
  • Long-term debt stood at Rs 3 million as compared to Rs 0 million during FY17, a fall of 0.0%.
  • Current assets fell 14% and stood at Rs 2 billion, while fixed assets rose 20% and stood at Rs 3 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 5 billion as against Rs 5 billion during FY17, thereby witnessing a growth of 4%.

HIND.OIL EXP Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 3,413 3,832 12.3
 
Current Liabilities Rs m 675 422 -37.4
Long-term Debt Rs m 0 3 0.0
Total Liabilities Rs m 5,248 5,446 3.8
 
Current assets Rs m 2,352 2,027 -13.8
Fixed Assets Rs m 2,379 2,862 20.3
Total Assets Rs m 5,248 5,446 3.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HIND.OIL EXP Cash Flow Statement Analysis

  • HIND.OIL EXP's cash flow from operating activities (CFO) during FY18 stood at Rs -72 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -603 million, an improvement of 90.8% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 0 million, an improvement of 0% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -675 million from the Rs 667 million net cash flows seen during FY17.

HIND.OIL EXP 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 983 -72 -
Cash Flow from Investing Activities Rs m -316 -603 -
Cash Flow from Financing Activities Rs m 0 0 0.0%
Net Cash Flow Rs m 667 -675 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for HIND.OIL EXP

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 2.9, an improvement from the EPS of Rs 2.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 147.5, stands at 33.0 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.8 times, while the price to sales ratio stands at 29.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 41.8 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 2.0 3.7
TTM Earnings per share Rs 2.8 2.9
Diluted earnings per share Rs 2.8 2.9
Price to Cash Flow x 42.1 41.8
TTM P/E ratio x 33.0 33.0
Price / Book Value ratio x 2.1 3.8
Market Cap Rs m 19,247 19,247
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for HIND.OIL EXP

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 4.8x during FY18, from 3.5x 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 33.3x during FY18, from 0.0x 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 9.8% during FY18, from 10.6% 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 10.1% during FY18, from 11.7% 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 improved and stood at 7.1% during FY18, from 6.9% 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 3.5 4.8
Debtors’ Days Days 74 124
Interest coverage x 0.0 33.3
Debt to equity ratio x 0.0 0.0
Return on assets % 6.9 7.1
Return on equity % 10.6 9.8
Return on capital employed % 11.7 10.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how HIND.OIL EXP has performed over the last 5 years, please visit here.

HIND.OIL EXP Share Price Performance

Over the last one year, HIND.OIL EXP share price has moved up from Rs 68.6 to Rs 147.5, registering a gain of Rs 78.9 or around 115.0%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 14,804.7 (down 1.9%). Over the last one year it has moved up from 14,372.0 to 14,804.7, a gain of 433 points (up 3.0%).

Overall, the S&P BSE SENSEX is up 19.4% over the year.

(To know more, check out historical annual results for HIND.OIL EXP and quarterly results for HIND.OIL EXP)

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Related Views on News

HIND.OIL EXP Announces Quarterly Results (3QFY19); Net Profit Up 170.4% (Quarterly Result Update)

Jan 21, 2019 | Updated on Jan 21, 2019

For the quarter ended December 2018, HIND.OIL EXP has posted a net profit of Rs 348 m (up 170.4% YoY). Sales on the other hand came in at Rs 660 m (up 394.2% YoY). Read on for a complete analysis of HIND.OIL EXP's quarterly results.

HIND.OIL EXP Announces Quarterly Results (2QFY19); Net Profit Up 668.4% (Quarterly Result Update)

Nov 9, 2018 | Updated on Nov 9, 2018

For the quarter ended September 2018, HIND.OIL EXP has posted a net profit of Rs 429 m (up 668.4% YoY). Sales on the other hand came in at Rs 644 m (up 666.5% YoY). Read on for a complete analysis of HIND.OIL EXP's quarterly results.

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