UDAIPUR CEMENT 2020-21 Annual Report Analysis

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UDAIPUR CEMENT 2020-21 Annual Report Analysis
Tue, 2 Nov

UDAIPUR CEMENT 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.

UDAIPUR CEMENT Income Statement Analysis

  • Operating income during the year rose 7.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 13.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 19.3% in FY21 as against 18.2% in FY20.
  • Depreciation charges decreased by 1.0% and finance costs decreased by 17.2% YoY, respectively.
  • Other income grew by 130.6% YoY.
  • Net profit for the year grew by 254.4% YoY.
  • Net profit margins during the year grew from 2.3% in FY20 to 7.5% in FY21.

UDAIPUR CEMENT Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 6,858 7,351 7.2%
Other income Rs m 11 26 130.6%
Total Revenues Rs m 6,869 7,377 7.4%
Gross profit Rs m 1,249 1,418 13.5%
Depreciation Rs m 338 334 -1.0%
Interest Rs m 650 538 -17.2%
Profit before tax Rs m 273 571 109.2%
Tax Rs m 118 21 -81.8%
Profit after tax Rs m 155 550 254.4%
Gross profit margin % 18.2 19.3
Effective tax rate % 43.2 3.7
Net profit margin % 2.3 7.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Check Out: Why Millions of Dollars are Getting Pumped into this Sector?

UDAIPUR CEMENT Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 2 billion as compared to Rs 4 billion in FY20, thereby witnessing an decrease of -51.2%.
  • Long-term debt stood at Rs 5 billion as compared to Rs 3 billion during FY20, a growth of 56.5%.
  • Current assets rose 36% and stood at Rs 2 billion, while fixed assets rose 2% and stood at Rs 7 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 9 billion as against Rs 9 billion during FY20, thereby witnessing a growth of 7%.

UDAIPUR CEMENT Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 1,836 2,468 34.4
 
Current Liabilities Rs m 3,746 1,828 -51.2
Long-term Debt Rs m 3,341 5,230 56.5
Total Liabilities Rs m 8,581 9,175 6.9
 
Current assets Rs m 1,338 1,816 35.7
Fixed Assets Rs m 7,243 7,359 1.6
Total Assets Rs m 8,581 9,175 6.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



UDAIPUR CEMENT Cash Flow Statement Analysis

  • UDAIPUR CEMENT's cash flow from operating activities (CFO) during FY21 stood at Rs 2 billion, an improvement of 66.1% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -1 billion, an improvement of 236.5% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -615 million, an improvement of 22% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 115 million from the Rs 2 million net cash flows seen during FY20.

UDAIPUR CEMENT 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 1,126 1,871 66.1%
Cash Flow from Investing Activities Rs m -339 -1,141 -
Cash Flow from Financing Activities Rs m -785 -615 -
Net Cash Flow Rs m 2 115 4,670.8%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for UDAIPUR CEMENT

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.8, an improvement from the EPS of Rs 0.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 39.5, stands at 19.0 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.3 times, while the price to sales ratio stands at 0.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 13.9 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 22.0 23.6
TTM Earnings per share Rs 0.5 1.8
Diluted earnings per share Rs 0.5 1.8
Price to Cash Flow x 25.0 13.9
TTM P/E ratio x 19.0 19.0
Price / Book Value ratio x 2.1 2.3
Market Cap Rs m 12,301 12,301
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for UDAIPUR CEMENT

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.0x during FY21, from 0.4x 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 improved and stood at 2.1x during FY21, from 1.4x 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 improved and stood at 22.3% during FY21, from 8.5% 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 14.4% during FY21, from 17.8% 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 improved and stood at 11.9% during FY21, from 9.4% 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 0.4 1.0
Debtors’ Days Days 0 0
Interest coverage x 1.4 2.1
Debt to equity ratio x 1.8 2.1
Return on assets % 9.4 11.9
Return on equity % 8.5 22.3
Return on capital employed % 17.8 14.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how UDAIPUR CEMENT has performed over the last 5 years, please visit here.

UDAIPUR CEMENT Share Price Performance

Over the last one year, UDAIPUR CEMENT share price has moved up from Rs 13.6 to Rs 39.5, registering a gain of Rs 25.9 or around 189.6%.

Overall, the S&P BSE SENSEX is up 51.0% over the year.

(To know more, check out historical annual results for UDAIPUR CEMENT and quarterly results for UDAIPUR CEMENT)

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