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INDRAPRASTHA GAS 2020-21 Annual Report Analysis
Wed, 31 Mar

INDRAPRASTHA GAS has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

INDRAPRASTHA GAS Income Statement Analysis

  • Operating income during the year fell 23.5% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 2.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 33.6% in FY21 as against 26.4% in FY20.
  • Depreciation charges increased by 15.1% and finance costs increased by 8.4% YoY, respectively.
  • Other income declined by 19.8% YoY.
  • Net profit for the year declined by 4.4% YoY.
  • Net profit margins during the year grew from 18.9% in FY20 to 23.6% in FY21.

INDRAPRASTHA GAS Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 58,051 44,429 -23.5%
Other income Rs m 1,432 1,148 -19.8%
Total Revenues Rs m 59,482 45,578 -23.4%
Gross profit Rs m 15,318 14,937 -2.5%
Depreciation Rs m 2,523 2,904 15.1%
Interest Rs m 203 220 8.4%
Profit before tax Rs m 14,025 12,961 -7.6%
Tax Rs m 3,075 2,494 -18.9%
Profit after tax Rs m 10,949 10,467 -4.4%
Gross profit margin % 26.4 33.6
Effective tax rate % 21.9 19.2
Net profit margin % 18.9 23.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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INDRAPRASTHA GAS Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 24 billion as compared to Rs 18 billion in FY20, thereby witnessing an increase of 31.0%.
  • Current assets rose 24% and stood at Rs 31 billion, while fixed assets rose 18% and stood at Rs 60 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 91 billion as against Rs 75 billion during FY20, thereby witnessing a growth of 20%.

INDRAPRASTHA GAS Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 53,580 63,344 18.2
 
Current Liabilities Rs m 17,955 23,522 31.0
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 75,444 90,500 20.0
 
Current assets Rs m 24,976 30,955 23.9
Fixed Assets Rs m 50,467 59,545 18.0
Total Assets Rs m 75,444 90,500 20.0
* 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 FY21 stood at Rs 15 billion, an improvement of 13.6% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -18 billion, an improvement of 250.7% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -3 billion on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -6 billion from the Rs 6 billion net cash flows seen during FY20.

INDRAPRASTHA GAS Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Mar-20 Mar-21
Cash Flow from Operating Activities Rs m 13,608 15,460 13.6%
Cash Flow from Investing Activities Rs m -5,207 -18,264 -
Cash Flow from Financing Activities Rs m -2,435 -2,970 -
Net Cash Flow Rs m 5,966 -5,774 -
* 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 15.0, an decline from the EPS of Rs 15.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 510.8, stands at 34.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 5.6 times, while the price to sales ratio stands at 8.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 25.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Sales per share (Unadj.) Rs 82.9 63.5
TTM Earnings per share Rs 15.6 15.0
Diluted earnings per share Rs 15.6 15.0
Price to Cash Flow x 20.2 25.1
TTM P/E ratio x 24.9 34.2
Price / Book Value ratio x 5.3 5.3
Market Cap Rs m 286,633 335,703
Dividends per share (Unadj.) Rs 2.8 3.6
* 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 deteriorated and stood at 1.3x during FY21, from 1.4x during FY20. 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 59.9x during FY21, from 70.1x during FY20. 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 16.5% during FY21, from 20.4% during FY21. 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 20.8% during FY21, from 26.6% during FY20. 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 11.8% during FY21, from 14.8% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Current ratio x 1.4 1.3
Debtors’ Days Days 1 2
Interest coverage x 70.1 59.9
Debt to equity ratio x 0.0 0.0
Return on assets % 14.8 11.8
Return on equity % 20.4 16.5
Return on capital employed % 26.6 20.8
* 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 up from Rs 388.9 to Rs 510.8, registering a gain of Rs 122.0 or around 31.4%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 14,820.5 (down 0.1%). Over the last one year it has moved up from 10,020.9 to 14,820.5, a gain of 4,800 points (up 47.9%).

Overall, the S&P BSE SENSEX is up 74.1% 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 410.0 per share. You can check out the latest share price performance of INDRAPRASTHA GAS here...

What was the revenue of INDRAPRASTHA GAS in FY21? How does it compare to earlier years?

The revenues of INDRAPRASTHA GAS stood at Rs 45,578 m in FY21, which was down -23.4% compared to Rs 59,482 m reported in FY20.

INDRAPRASTHA GAS' revenue has grown from Rs 34,530 m in FY17 to Rs 45,578 m in FY21.

Over the past 5 years, the revenue of INDRAPRASTHA GAS has grown at a CAGR of 7.2%.

What was the net profit of INDRAPRASTHA GAS in FY21? How does it compare to earlier years?

The net profit of INDRAPRASTHA GAS stood at Rs 10,467 m in FY21, which was down -4.4% compared to Rs 10,949 m reported in FY20.

This compares to a net profit of Rs 7,551 m in FY19 and a net profit of Rs 6,498 m in FY18.

Over the past 5 years, INDRAPRASTHA GAS net profit has grown at a CAGR of 17.8%.

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 increased in FY21 and stood at Rs 15,460 m as compared to Rs 13,608 m in FY20.
  • Cash flow from investments decreased in FY21 and stood at Rs -18,264 m as compared to Rs -5,207 m in FY20.
  • Cash flow from financial activity decreased in FY21 and stood at Rs -2,970 m as compared to Rs -2,435 m in FY20.

Here's the cash flow statement of INDRAPRASTHA GAS for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations9,4638,79311,57213,60815,460
From Investments-11,140-7,170-11,208-5,207-18,264
From Financial Activity-1,601-842-1,688-2,435-2,970
Net Cashflow-3,277781-1,3255,966-5,774

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 down at 33.6% in FY21 as against 26.4% in FY20.
  • Net profit margins grew from 18.9% in FY20 to 23.6% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.0 as compared to 0.0 in FY20.

Here's the ratio/financial analysis of INDRAPRASTHA GAS for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)28.527.724.526.433.6
Net Profit Margin (%)16.016.014.618.923.6
Debt to Equity Ratio (x)0.00.00.00.00.0

Read: Latest Annual Report Analysis of INDRAPRASTHA GAS

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