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INDRAPRASTHA GAS 2017-18 Annual Report Analysis
Sat, 31 Mar

INDRAPRASTHA GAS 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.

INDRAPRASTHA GAS Income Statement Analysis

  • Operating income during the year rose 19.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 15.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 27.7% in FY18 as against 28.5% in FY17.
  • Depreciation charges increased by 8.5% and finance costs increased by 25.9% YoY, respectively.
  • Other income grew by 97.2% YoY.
  • Net profit for the year grew by 19.5% YoY.
  • Net profit margins during the year grew from 16.0% in FY17 to 16.0% in FY18.

INDRAPRASTHA GAS Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 34,071 40,560 19.0%
Other income Rs m 459 906 97.2%
Total Revenues Rs m 34,530 41,466 20.1%
Gross profit Rs m 9,693 11,233 15.9%
Depreciation Rs m 1,671 1,813 8.5%
Interest Rs m 68 86 25.9%
Profit before tax Rs m 8,414 10,241 21.7%
Tax Rs m 2,976 3,742 25.8%
Profit after tax Rs m 5,438 6,498 19.5%
Gross profit margin % 28.5 27.7
Effective tax rate % 35.4 36.5
Net profit margin % 16.0 16.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

INDRAPRASTHA GAS Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 12 billion as compared to Rs 10 billion in FY17, thereby witnessing an increase of 22.7%.
  • Current assets rose 34% and stood at Rs 18 billion, while fixed assets rose 16% and stood at Rs 33 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 51 billion as against Rs 42 billion during FY17, thereby witnessing a growth of 22%.

INDRAPRASTHA GAS Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 30,117 36,470 21.1
 
Current Liabilities Rs m 9,586 11,763 22.7
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 41,930 50,965 21.5
 
Current assets Rs m 13,301 17,826 34.0
Fixed Assets Rs m 28,630 33,139 15.8
Total Assets Rs m 41,930 50,965 21.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



INDRAPRASTHA GAS Cash Flow Statement Analysis

  • INDRAPRASTHA GAS's cash flow from operating activities (CFO) during FY18 stood at Rs 9 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -7 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -842 million, an improvement of 47% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 781 million from the Rs -3 billion net cash flows seen during FY17.

INDRAPRASTHA GAS 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 9,463 8,793 -7.1%
Cash Flow from Investing Activities Rs m -11,140 -7,170 -
Cash Flow from Financing Activities Rs m -1,601 -842 -
Net Cash Flow Rs m -3,277 781 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for INDRAPRASTHA GAS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.3, an decline from the EPS of Rs 38.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 278.9, stands at 29.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 5.4 times, while the price to sales ratio stands at 4.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 79.8 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 243.4 57.9
TTM Earnings per share Rs 38.8 9.3
Diluted earnings per share Rs 7.8 9.3
Price to Cash Flow x 99.8 79.8
TTM P/E ratio x 124.2 29.1
Price / Book Value ratio x 3.7 18.2
Market Cap Rs m 112,529 663,128
Dividends per share (Unadj.) Rs 1.7 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for INDRAPRASTHA GAS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.5x during FY18, from 1.4x 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 120.6x during FY18, from 124.7x 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 17.8% during FY18, from 18.1% 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 improved and stood at 28.3% during FY18, from 28.2% 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 12.9% during FY18, from 13.1% 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 1.4 1.5
Debtors’ Days Days 2 2
Interest coverage x 124.7 120.6
Debt to equity ratio x 0.0 0.0
Return on assets % 13.1 12.9
Return on equity % 18.1 17.8
Return on capital employed % 28.2 28.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how INDRAPRASTHA GAS has performed over the last 5 years, please visit here.

INDRAPRASTHA GAS Share Price Performance

Over the last one year, INDRAPRASTHA GAS share price has moved down from Rs 1,013.4 to Rs 278.9, registering a loss of Rs 734.6 or around 72.5%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 14,614.4 (up 0.1%). Over the last one year it has moved up from 13,563.6 to 14,614.4, a gain of 1,051 points (up 7.7%).

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

(To know more, check out historical annual results for INDRAPRASTHA GAS and quarterly results for INDRAPRASTHA GAS)

Annual Report FAQs

What is the current share price of INDRAPRASTHA GAS?

INDRAPRASTHA GAS currently trades at Rs 430.7 per share. You can check out the latest share price performance of INDRAPRASTHA GAS here...

What was the revenue of INDRAPRASTHA GAS in FY18? How does it compare to earlier years?

The revenues of INDRAPRASTHA GAS stood at Rs 41,466 m in FY18, which was up 20.1% compared to Rs 34,530 m reported in FY17.

INDRAPRASTHA GAS' revenue has grown from Rs 15,461 m in FY11 to Rs 41,466 m in FY18.

Over the past 8 years, the revenue of INDRAPRASTHA GAS has grown at a CAGR of 15.1%.

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

The net profit of INDRAPRASTHA GAS stood at Rs 6,498 m in FY18, which was up 19.5% compared to Rs 5,438 m reported in FY17.

This compares to a net profit of Rs 4,036 m in FY16 and a net profit of Rs 4,340 m in FY15.

Over the past 8 years, INDRAPRASTHA GAS net profit has grown at a CAGR of 14.0%.

What does the cash flow statement of INDRAPRASTHA GAS 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 INDRAPRASTHA GAS reveals:

  • Cash flow from operations decreased in FY18 and stood at Rs 8,793 m as compared to Rs 9,463 m in FY17.
  • Cash flow from investments increased in FY18 and stood at Rs -7,170 m as compared to Rs -11,140 m in FY17.
  • Cash flow from financial activity increased in FY18 and stood at Rs -842 m as compared to Rs -1,601 m in FY17.

Here's the cash flow statement of INDRAPRASTHA GAS for the past 8 years.

(Rs m)FY11FY15FY16FY17FY18
From Operations4,0986,6386,5359,4638,793
From Investments-7,572-3,637-1,746-11,140-7,170
From Financial Activity2,681-3,272-2,564-1,601-842
Net Cashflow-794-2712,226-3,277781

What does the Key Ratio analysis of INDRAPRASTHA GAS 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 INDRAPRASTHA GAS reveals:

  • Operating profit margins witnessed a fall and stood at 27.7% in FY18 as against 28.5% in FY17.
  • Net profit margins grew from 16.0% in FY17 to 16.0% in FY18.
  • Debt to Equity ratio for FY18 stood at 0.0 as compared to 0.0 in FY17.

Here's the ratio/financial analysis of INDRAPRASTHA GAS for the past 8 years.

 FY11FY15FY16FY17FY18
Operating Profit Margin (%)32.424.223.628.527.7
Net Profit Margin (%)16.913.112.216.016.0
Debt to Equity Ratio (x)0.20.10.00.00.0

Read: Latest Annual Report Analysis of INDRAPRASTHA GAS

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