SUNTECK REALTY 2017-18 Annual Report Analysis

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SUNTECK REALTY 2017-18 Annual Report Analysis
Wed, 19 Dec

SUNTECK REALTY 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.

SUNTECK REALTY Income Statement Analysis

  • Operating income during the year fell 6.7% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 6.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 41.9% in FY18 as against 36.6% in FY17.
  • Depreciation charges decreased by 26.0% and finance costs decreased by 7.6% YoY, respectively.
  • Other income grew by 13.4% YoY.
  • Net profit for the year grew by 3.6% YoY.
  • Net profit margins during the year grew from 22.5% in FY17 to 25.0% in FY18.

SUNTECK REALTY Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 9,522 8,883 -6.7%
Other income Rs m 82 93 13.4%
Total Revenues Rs m 9,604 8,975 -6.5%
Gross profit Rs m 3,481 3,720 6.9%
Depreciation Rs m 23 17 -26.0%
Interest Rs m 455 421 -7.6%
Profit before tax Rs m 3,084 3,375 9.4%
Tax Rs m 872 1,078 23.7%
Profit after tax Rs m 2,161 2,240 3.6%
Gross profit margin % 36.6 41.9
Effective tax rate % 28.3 32.0
Net profit margin % 22.5 25.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



SUNTECK REALTY Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 9 billion as compared to Rs 18 billion in FY17, thereby witnessing an decrease of -49.7%.
  • Long-term debt stood at Rs 513 million as compared to Rs 296 million during FY17, a growth of 73.4%.
  • Current assets rose 4% and stood at Rs 34 billion, while fixed assets fell 2% and stood at Rs 705 million in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 37 billion as against Rs 37 billion during FY17, thereby witnessing a fall of 1%.

SUNTECK REALTY Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 17,953 26,304 46.5
 
Current Liabilities Rs m 17,791 8,943 -49.7
Long-term Debt Rs m 296 513 73.4
Total Liabilities Rs m 36,786 36,563 -0.6
 
Current assets Rs m 32,695 33,930 3.8
Fixed Assets Rs m 721 705 -2.3
Total Assets Rs m 36,786 36,563 -0.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



SUNTECK REALTY Cash Flow Statement Analysis

  • SUNTECK REALTY's cash flow from operating activities (CFO) during FY18 stood at Rs -2 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 180 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 2 billion, an improvement of 158% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -105 million from the Rs -61 million net cash flows seen during FY17.

SUNTECK REALTY 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 2,427 -2,237 -
Cash Flow from Investing Activities Rs m 882 180 -79.7%
Cash Flow from Financing Activities Rs m -3,371 1,953 -
Net Cash Flow Rs m -61 -105 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for SUNTECK REALTY

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 16.0, an decline from the EPS of Rs 36.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 359.4, stands at 18.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.0 times, while the price to sales ratio stands at 5.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 19.6 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 158.8 63.3
TTM Earnings per share Rs 36.0 16.0
Diluted earnings per share Rs 17.2 17.8
Price to Cash Flow x 9.6 19.6
TTM P/E ratio x 8.6 18.1
Price / Book Value ratio x 1.0 2.0
Market Cap Rs m 21,553 45,279
Dividends per share (Unadj.) Rs 1.5 1.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for SUNTECK REALTY

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 3.8x during FY18, from 1.8x 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 9.0x during FY18, from 7.8x 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 8.5% during FY18, from 12.0% 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 13.9% during FY18, from 19.1% 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 7.3% during FY18, from 7.1% 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 1.8 3.8
Debtors’ Days Days 62 119
Interest coverage x 7.8 9.0
Debt to equity ratio x 0.0 0.0
Return on assets % 7.1 7.3
Return on equity % 12.0 8.5
Return on capital employed % 19.1 13.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how SUNTECK REALTY has performed over the last 5 years, please visit here.

SUNTECK REALTY Share Price Performance

Over the last one year, SUNTECK REALTY share price has moved up from Rs 425.3 to Rs 359.4, registering a loss of Rs 65.9 or around 15.5%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,889.5 (up 2.9%). Over the last one year it has moved down from 2,411.2 to 1,889.5, a loss of 522 points (down 21.6%).

Overall, the S&P BSE SENSEX is up 8.7% over the year.

(To know more, check out historical annual results for SUNTECK REALTY and quarterly results for SUNTECK REALTY)

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