SUNTECK REALTY 2018-19 Annual Report Analysis

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SUNTECK REALTY 2018-19 Annual Report Analysis
Mon, 30 Sep

SUNTECK REALTY has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

SUNTECK REALTY Income Statement Analysis

  • Operating income during the year fell 3.5% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 1.6% YoY during the fiscal. Operating profit margins witnessed a fall and down at 44.1% in FY19 as against 41.9% in FY18.
  • Depreciation charges increased by 30.4% and finance costs decreased by 2.9% YoY, respectively.
  • Other income grew by 277.7% YoY.
  • Net profit for the year grew by 7.6% YoY.
  • Net profit margins during the year grew from 25.0% in FY18 to 27.1% in FY19.

SUNTECK REALTY Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 8,883 8,568 -3.5%
Other income Rs m 91 343 277.7%
Total Revenues Rs m 8,974 8,911 -0.7%
Gross profit Rs m 3,722 3,780 1.6%
Depreciation Rs m 17 22 30.4%
Interest Rs m 421 408 -2.9%
Profit before tax Rs m 3,375 3,693 9.4%
Tax Rs m 1,078 1,284 19.1%
Profit after tax Rs m 2,240 2,411 7.6%
Gross profit margin % 41.9 44.1
Effective tax rate % 32.0 34.8
Net profit margin % 25.0 27.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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SUNTECK REALTY Balance Sheet Analysis

  • The company's current liabilities during FY19 down at Rs 5 billion as compared to Rs 9 billion in FY18, thereby witnessing an decrease of -41.9%.
  • Long-term debt stood at Rs 1 billion as compared to Rs 513 million during FY18, a growth of 144.2%.
  • Current assets rose 6% and stood at Rs 35 billion, while fixed assets rose 5% and stood at Rs 3 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 39 billion as against Rs 37 billion during FY18, thereby witnessing a growth of 7%.

SUNTECK REALTY Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 26,304 28,337 7.7
 
Current Liabilities Rs m 8,943 5,195 -41.9
Long-term Debt Rs m 513 1,254 144.2
Total Liabilities Rs m 36,563 39,228 7.3
 
Current assets Rs m 33,414 35,487 6.2
Fixed Assets Rs m 2,869 3,015 5.1
Total Assets Rs m 36,563 39,228 7.3
* 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 FY19 stood at Rs -79 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 723 million, an improvement of 302.7% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -224 million on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 421 million from the Rs -105 million net cash flows seen during FY18.

SUNTECK REALTY Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m -1,685 -79 -
Cash Flow from Investing Activities Rs m 180 723 302.7%
Cash Flow from Financing Activities Rs m 1,401 -224 -
Net Cash Flow Rs m -105 421 -
* 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 17.2, an improvement from the EPS of Rs 16.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 402.2, stands at 25.2 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 6.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 20.8 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 63.3 61.1
TTM Earnings per share Rs 16.0 17.2
Diluted earnings per share Rs 17.8 19.1
Price to Cash Flow x 24.4 20.8
TTM P/E ratio x 28.1 25.2
Price / Book Value ratio x 2.0 2.0
Market Cap Rs m 56,437 50,671
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 6.8x during FY19, from 3.7x during FY18. 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 improved and stood at 10.0x during FY19, from 9.0x during FY18. 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 FY19, from 8.5% during FY19. 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 FY19, from 13.9% during FY18. 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 7.2% during FY19, from 7.3% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 3.7 6.8
Debtors’ Days Days 119 134
Interest coverage x 9.0 10.0
Debt to equity ratio x 0.0 0.0
Return on assets % 7.3 7.2
Return on equity % 8.5 8.5
Return on capital employed % 13.9 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 down from Rs 403.3 to Rs 402.2, registering a loss of Rs 1.1 or around 0.3%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,974.3 (down 1.7%). Over the last one year it has moved up from 1,702.9 to 1,974.3, a gain of 271 points (up 15.9%).

Overall, the S&P BSE SENSEX is up 6.0% over the year.

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

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