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INDIA GLYCOLS 2017-18 Annual Report Analysis
Sat, 31 Mar

INDIA GLYCOLS 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.

INDIA GLYCOLS Income Statement Analysis

  • Operating income during the year rose 37.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 16.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 11.6% in FY18 as against 13.7% in FY17.
  • Depreciation charges increased by 1.5% and finance costs decreased by 1.5% YoY, respectively.
  • Other income grew by 116.3% YoY.
  • Net profit for the year grew by 177.8% YoY.
  • Net profit margins during the year grew from 2.5% in FY17 to 5.1% in FY18.

INDIA GLYCOLS Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 13,897 19,066 37.2%
Other income Rs m 605 1,308 116.3%
Total Revenues Rs m 14,502 20,375 40.5%
Gross profit Rs m 1,898 2,217 16.8%
Depreciation Rs m 720 731 1.5%
Interest Rs m 1,331 1,311 -1.5%
Profit before tax Rs m 451 1,484 228.8%
Tax Rs m 99 506 409.0%
Profit after tax Rs m 352 978 177.8%
Gross profit margin % 13.7 11.6
Effective tax rate % 22.0 34.1
Net profit margin % 2.5 5.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Read Now: We're Bullish on 2 Non-Nifty Stocks

INDIA GLYCOLS Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 17 billion as compared to Rs 19 billion in FY17, thereby witnessing an decrease of -12.5%.
  • Long-term debt stood at Rs 2 billion as compared to Rs 647 million during FY17, a growth of 166.2%.
  • Current assets fell 5% and stood at Rs 11 billion, while fixed assets fell 1% and stood at Rs 23 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 34 billion as against Rs 35 billion during FY17, thereby witnessing a fall of 2%.

INDIA GLYCOLS Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 7,523 8,451 12.3
 
Current Liabilities Rs m 19,022 16,652 -12.5
Long-term Debt Rs m 647 1,724 166.2
Total Liabilities Rs m 34,923 34,215 -2.0
 
Current assets Rs m 11,317 10,787 -4.7
Fixed Assets Rs m 23,579 23,404 -0.7
Total Assets Rs m 34,923 34,215 -2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



INDIA GLYCOLS Cash Flow Statement Analysis

  • INDIA GLYCOLS's cash flow from operating activities (CFO) during FY18 stood at Rs 5 billion, an improvement of 66.1% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -1 billion, an improvement of 156.2% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -4 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -5 million from the Rs -9 million net cash flows seen during FY17.

INDIA GLYCOLS 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 3,021 5,017 66.1%
Cash Flow from Investing Activities Rs m -401 -1,028 -
Cash Flow from Financing Activities Rs m -2,629 -3,994 -
Net Cash Flow Rs m -9 -5 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for INDIA GLYCOLS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 31.6, an improvement from the EPS of Rs 11.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 452.3, stands at 14.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.7 times, while the price to sales ratio stands at 0.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 6.7 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 448.9 615.8
TTM Earnings per share Rs 11.4 31.6
Diluted earnings per share Rs 11.4 31.6
Price to Cash Flow x 4.6 6.7
TTM P/E ratio x 11.1 14.3
Price / Book Value ratio x 0.5 1.4
Market Cap Rs m 3,955 11,487
Dividends per share (Unadj.) Rs 1.0 4.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for INDIA GLYCOLS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.6x during FY18, from 0.6x 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 improved and stood at 2.1x during FY18, from 1.3x 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 improved and stood at 11.6% during FY18, from 4.7% 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 27.5% during FY18, from 21.8% 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 6.7% during FY18, from 4.8% 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 0.6 0.6
Debtors’ Days Days 1,025 639
Interest coverage x 1.3 2.1
Debt to equity ratio x 0.1 0.2
Return on assets % 4.8 6.7
Return on equity % 4.7 11.6
Return on capital employed % 21.8 27.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how INDIA GLYCOLS has performed over the last 5 years, please visit here.

INDIA GLYCOLS Share Price Performance

Over the last one year, INDIA GLYCOLS share price has moved up from Rs 160.1 to Rs 452.3, registering a gain of Rs 292.2 or around 182.5%.

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

(To know more, check out historical annual results for INDIA GLYCOLS and quarterly results for INDIA GLYCOLS)

Annual Report FAQs

What is the current share price of INDIA GLYCOLS?

INDIA GLYCOLS currently trades at Rs 756.8 per share. You can check out the latest share price performance of INDIA GLYCOLS here...

What was the revenue of INDIA GLYCOLS in FY18? How does it compare to earlier years?

The revenues of INDIA GLYCOLS stood at Rs 20,375 m in FY18, which was up 40.5% compared to Rs 14,502 m reported in FY17.

INDIA GLYCOLS' revenue has grown from Rs 13,888 m in FY16 to Rs 20,375 m in FY18.

Over the past 3 years, the revenue of INDIA GLYCOLS has grown at a CAGR of 21.1%.

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

The net profit of INDIA GLYCOLS stood at Rs 978 m in FY18, which was up 177.8% compared to Rs 352 m reported in FY17.

This compares to a net loss of Rs -568 m in FY16.

Over the past 3 years, INDIA GLYCOLS net profit has grown at a CAGR of NaN%.

What does the cash flow statement of INDIA GLYCOLS 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 INDIA GLYCOLS reveals:

  • Cash flow from operations increased in FY18 and stood at Rs 5,017 m as compared to Rs 3,021 m in FY17.
  • Cash flow from investments decreased in FY18 and stood at Rs -1,028 m as compared to Rs -401 m in FY17.
  • Cash flow from financial activity decreased in FY18 and stood at Rs -3,994 m as compared to Rs -2,629 m in FY17.

Here's the cash flow statement of INDIA GLYCOLS for the past 3 years.

(Rs m)FY16FY17FY18
From Operations12,3073,0215,017
From Investments-783-401-1,028
From Financial Activity-11,676-2,629-3,994
Net Cashflow-153-9-5

What does the Key Ratio analysis of INDIA GLYCOLS 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 INDIA GLYCOLS reveals:

  • Operating profit margins witnessed a fall and stood at 11.6% in FY18 as against 13.7% in FY17.
  • Net profit margins grew from 2.5% in FY17 to 5.1% in FY18.
  • Debt to Equity ratio for FY18 stood at 0.2 as compared to 0.1 in FY17.

Here's the ratio/financial analysis of INDIA GLYCOLS for the past 3 years.

 FY16FY17FY18
Operating Profit Margin (%)8.513.711.6
Net Profit Margin (%)-4.12.55.1
Debt to Equity Ratio (x)0.30.10.2

Read: Latest Annual Report Analysis of INDIA GLYCOLS

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