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KALPATARU POWER 2018-19 Annual Report Analysis
Sun, 31 Mar

KALPATARU POWER 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.

KALPATARU POWER Income Statement Analysis

  • Operating income during the year rose 25.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 28.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.2% in FY19 as against 12.8% in FY18.
  • Depreciation charges increased by 10.1% and finance costs increased by 2.1% YoY, respectively.
  • Other income grew by 31.6% YoY.
  • Net profit for the year grew by 71.2% YoY.
  • Net profit margins during the year grew from 3.4% in FY18 to 4.7% in FY19.

KALPATARU POWER Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 86,671 108,405 25.1%
Other income Rs m 361 475 31.6%
Total Revenues Rs m 87,032 108,880 25.1%
Gross profit Rs m 11,094 14,291 28.8%
Depreciation Rs m 1,915 2,109 10.1%
Interest Rs m 4,762 4,863 2.1%
Profit before tax Rs m 4,778 7,794 63.1%
Tax Rs m 1,827 2,742 50.1%
Profit after tax Rs m 2,951 5,052 71.2%
Gross profit margin % 12.8 13.2
Effective tax rate % 38.2 35.2
Net profit margin % 3.4 4.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

KALPATARU POWER Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 76 billion as compared to Rs 60 billion in FY18, thereby witnessing an increase of 26.9%.
  • Long-term debt down at Rs 19 billion as compared to Rs 24 billion during FY18, a fall of 19.2%.
  • Current assets rose 34% and stood at Rs 106 billion, while fixed assets fell 21% and stood at Rs 34 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 140 billion as against Rs 123 billion during FY18, thereby witnessing a growth of 14%.

KALPATARU POWER Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 26,734 31,195 16.7
 
Current Liabilities Rs m 60,183 76,403 26.9
Long-term Debt Rs m 23,731 19,182 -19.2
Total Liabilities Rs m 122,546 140,078 14.3
 
Current assets Rs m 79,416 106,057 33.5
Fixed Assets Rs m 43,130 34,021 -21.1
Total Assets Rs m 122,546 140,078 14.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



KALPATARU POWER Cash Flow Statement Analysis

  • KALPATARU POWER's cash flow from operating activities (CFO) during FY19 stood at Rs 10 billion, an improvement of 59.4% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -8 billion, an improvement of 19.4% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -2 billion on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -189 million from the Rs 166 million net cash flows seen during FY18.

KALPATARU POWER 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 6,496 10,353 59.4%
Cash Flow from Investing Activities Rs m -7,000 -8,356 -
Cash Flow from Financing Activities Rs m 658 -2,189 -
Net Cash Flow Rs m 166 -189 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for KALPATARU POWER

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 32.9, an improvement from the EPS of Rs 19.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 469.5, stands at 17.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.2 times, while the price to sales ratio stands at 0.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 8.3 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 564.8 706.4
TTM Earnings per share Rs 19.2 32.9
Diluted earnings per share Rs 19.8 33.9
Price to Cash Flow x 14.7 8.3
TTM P/E ratio x 22.3 17.4
Price / Book Value ratio x 2.4 1.9
Market Cap Rs m 65,294 59,504
Dividends per share (Unadj.) Rs 2.5 3.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for KALPATARU POWER

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.4x during FY19, from 1.3x 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 2.6x during FY19, from 2.0x 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 improved and stood at 16.2% during FY19, from 11.0% 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 improved and stood at 25.1% during FY19, from 18.9% 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 improved and stood at 7.1% during FY19, from 6.3% 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 1.3 1.4
Debtors’ Days Days 1,666 14
Interest coverage x 2.0 2.6
Debt to equity ratio x 0.9 0.6
Return on assets % 6.3 7.1
Return on equity % 11.0 16.2
Return on capital employed % 18.9 25.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how KALPATARU POWER has performed over the last 5 years, please visit here.

KALPATARU POWER Share Price Performance

Over the last one year, KALPATARU POWER share price has moved down from Rs 481.5 to Rs 469.5, registering a loss of Rs 12.0 or around 2.5%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,472.0 (up 0.5%). Over the last one year it has moved down from 18,476.7 to 18,472.0, a loss of 5 points (down 0.0%).

Overall, the S&P BSE SENSEX is up 16.3% over the year.

(To know more, check out historical annual results for KALPATARU POWER and quarterly results for KALPATARU POWER)

Annual Report FAQs

What is the current share price of KALPATARU POWER?

KALPATARU POWER currently trades at Rs 1,065.9 per share. You can check out the latest share price performance of KALPATARU POWER here...

What was the revenue of KALPATARU POWER in FY19? How does it compare to earlier years?

The revenues of KALPATARU POWER stood at Rs 108,880 m in FY19, which was up 25.1% compared to Rs 87,032 m reported in FY18.

KALPATARU POWER's revenue has grown from Rs 71,517 m in FY15 to Rs 108,880 m in FY19.

Over the past 5 years, the revenue of KALPATARU POWER has grown at a CAGR of 11.1%.

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

The net profit of KALPATARU POWER stood at Rs 5,052 m in FY19, which was up 71.2% compared to Rs 2,951 m reported in FY18.

This compares to a net profit of Rs 1,889 m in FY17 and a net profit of Rs 1,124 m in FY16.

Over the past 5 years, KALPATARU POWER net profit has grown at a CAGR of 44.6%.

What does the cash flow statement of KALPATARU POWER 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 KALPATARU POWER reveals:

  • Cash flow from operations increased in FY19 and stood at Rs 10,353 m as compared to Rs 6,496 m in FY18.
  • Cash flow from investments decreased in FY19 and stood at Rs -8,356 m as compared to Rs -7,000 m in FY18.
  • Cash flow from financial activity decreased in FY19 and stood at Rs -2,189 m as compared to Rs 658 m in FY18.

Here's the cash flow statement of KALPATARU POWER for the past 5 years.

(Rs m)FY15FY16FY17FY18FY19
From Operations72011,0427,6646,49610,353
From Investments-6,074-3,855-2,333-7,000-8,356
From Financial Activity5,505-7,257-4,388658-2,189
Net Cashflow178-89928166-189

What does the Key Ratio analysis of KALPATARU POWER 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 KALPATARU POWER reveals:

  • Operating profit margins witnessed a fall and down at 13.2% in FY19 as against 12.8% in FY18.
  • Net profit margins grew from 3.4% in FY18 to 4.7% in FY19.
  • Debt to Equity ratio for FY19 stood at 0.6 as compared to 0.9 in FY18.

Here's the ratio/financial analysis of KALPATARU POWER for the past 5 years.

 FY15FY16FY17FY18FY19
Operating Profit Margin (%)10.411.512.712.813.2
Net Profit Margin (%)1.61.62.63.44.7
Debt to Equity Ratio (x)1.10.90.80.90.6

Read: Latest Annual Report Analysis of KALPATARU PROJECTS INTERNATIONAL

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