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INDIA GLYCOLS 2018-19 Annual Report Analysis
Sun, 31 Mar

INDIA GLYCOLS 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.

INDIA GLYCOLS Income Statement Analysis

  • Operating income during the year fell 16.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 85.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 25.8% in FY19 as against 11.6% in FY18.
  • Depreciation charges increased by 4.3% and finance costs increased by 14.2% YoY, respectively.
  • Other income declined by 78.0% YoY.
  • Net profit for the year grew by 36.6% YoY.
  • Net profit margins during the year grew from 5.1% in FY18 to 8.4% in FY19.

INDIA GLYCOLS Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 19,066 15,958 -16.3%
Other income Rs m 1,308 288 -78.0%
Total Revenues Rs m 20,375 16,246 -20.3%
Gross profit Rs m 2,217 4,113 85.5%
Depreciation Rs m 731 762 4.3%
Interest Rs m 1,311 1,498 14.2%
Profit before tax Rs m 1,484 2,141 44.2%
Tax Rs m 506 805 59.0%
Profit after tax Rs m 978 1,336 36.6%
Gross profit margin % 11.6 25.8
Effective tax rate % 34.1 37.6
Net profit margin % 5.1 8.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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INDIA GLYCOLS Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 17 billion as compared to Rs 17 billion in FY18, thereby witnessing an increase of 3.6%.
  • Long-term debt stood at Rs 4 billion as compared to Rs 2 billion during FY18, a growth of 129.8%.
  • Current assets rose 28% and stood at Rs 14 billion, while fixed assets rose 2% and stood at Rs 24 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 38 billion as against Rs 34 billion during FY18, thereby witnessing a growth of 11%.

INDIA GLYCOLS Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 8,451 9,626 13.9
 
Current Liabilities Rs m 16,652 17,249 3.6
Long-term Debt Rs m 1,724 3,961 129.8
Total Liabilities Rs m 34,215 37,843 10.6
 
Current assets Rs m 10,787 13,853 28.4
Fixed Assets Rs m 23,404 23,967 2.4
Total Assets Rs m 34,215 37,843 10.6
* 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 FY19 stood at Rs 1 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -1 billion, an improvement of 24.6% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs 30 million, an improvement of 101% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 219 million from the Rs -5 million net cash flows seen during FY18.

INDIA GLYCOLS 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 5,017 1,471 -70.7%
Cash Flow from Investing Activities Rs m -1,028 -1,281 -
Cash Flow from Financing Activities Rs m -3,994 30 -
Net Cash Flow Rs m -5 219 -
* 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 43.1, an improvement from the EPS of Rs 31.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 279.7, stands at 5.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.9 times, while the price to sales ratio stands at 0.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 6.3 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 615.8 515.4
TTM Earnings per share Rs 31.6 43.1
Diluted earnings per share Rs 31.6 43.1
Price to Cash Flow x 8.2 6.3
TTM P/E ratio x 14.3 5.8
Price / Book Value ratio x 1.4 1.4
Market Cap Rs m 11,487 13,204
Dividends per share (Unadj.) Rs 4.0 6.0
* 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 0.8x during FY19, from 0.6x 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 2.4x during FY19, from 2.1x 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 improved and stood at 13.9% during FY19, from 11.6% 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 26.8% during FY19, from 27.5% 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 improved and stood at 7.5% during FY19, from 6.7% 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 0.6 0.8
Debtors’ Days Days 639 737
Interest coverage x 2.1 2.4
Debt to equity ratio x 0.2 0.4
Return on assets % 6.7 7.5
Return on equity % 11.6 13.9
Return on capital employed % 27.5 26.8
* 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 down from Rs 452.3 to Rs 279.7, registering a loss of Rs 172.6 or around 38.2%.

Overall, the S&P BSE SENSEX is up 16.3% 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 755.2 per share. You can check out the latest share price performance of INDIA GLYCOLS here...

What was the revenue of INDIA GLYCOLS in FY19? How does it compare to earlier years?

The revenues of INDIA GLYCOLS stood at Rs 16,246 m in FY19, which was down -20.3% compared to Rs 20,375 m reported in FY18.

INDIA GLYCOLS' revenue has grown from Rs 13,888 m in FY16 to Rs 16,246 m in FY19.

Over the past 4 years, the revenue of INDIA GLYCOLS has grown at a CAGR of 5.4%.

What was the net profit of INDIA GLYCOLS in FY19? How does it compare to earlier years?

The net profit of INDIA GLYCOLS stood at Rs 1,336 m in FY19, which was up 36.6% compared to Rs 978 m reported in FY18.

This compares to a net profit of Rs 352 m in FY17 and a net loss of Rs -568 m in FY16.

Over the past 4 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 decreased in FY19 and stood at Rs 1,471 m as compared to Rs 5,017 m in FY18.
  • Cash flow from investments decreased in FY19 and stood at Rs -1,281 m as compared to Rs -1,028 m in FY18.
  • Cash flow from financial activity increased in FY19 and stood at Rs 30 m as compared to Rs -3,994 m in FY18.

Here's the cash flow statement of INDIA GLYCOLS for the past 4 years.

(Rs m)FY16FY17FY18FY19
From Operations12,3073,0215,0171,471
From Investments-783-401-1,028-1,281
From Financial Activity-11,676-2,629-3,99430
Net Cashflow-153-9-5219

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 down at 25.8% in FY19 as against 11.6% in FY18.
  • Net profit margins grew from 5.1% in FY18 to 8.4% in FY19.
  • Debt to Equity ratio for FY19 stood at 0.4 as compared to 0.2 in FY18.

Here's the ratio/financial analysis of INDIA GLYCOLS for the past 4 years.

 FY16FY17FY18FY19
Operating Profit Margin (%)8.513.711.625.8
Net Profit Margin (%)-4.12.55.18.4
Debt to Equity Ratio (x)0.30.10.20.4

Read: Latest Annual Report Analysis of INDIA GLYCOLS

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