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KALPATARU POWER 2020-21 Annual Report Analysis
Wed, 31 Mar

KALPATARU POWER 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.

KALPATARU POWER Income Statement Analysis

  • Operating income during the year rose 2.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 19.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.9% in FY21 as against 11.9% in FY20.
  • Depreciation charges increased by 10.0% and finance costs decreased by 10.8% YoY, respectively.
  • Other income declined by 15.5% YoY.
  • Net profit for the year grew by 68.1% YoY.
  • Net profit margins during the year grew from 3.3% in FY20 to 5.4% in FY21.

KALPATARU POWER Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 126,758 129,494 2.2%
Other income Rs m 1,013 856 -15.5%
Total Revenues Rs m 127,771 130,350 2.0%
Gross profit Rs m 15,127 18,033 19.2%
Depreciation Rs m 3,396 3,735 10.0%
Interest Rs m 6,033 5,380 -10.8%
Profit before tax Rs m 6,711 9,775 45.7%
Tax Rs m 2,581 2,832 9.7%
Profit after tax Rs m 4,130 6,943 68.1%
Gross profit margin % 11.9 13.9
Effective tax rate % 38.5 29.0
Net profit margin % 3.3 5.4
* 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 FY21 down at Rs 83 billion as compared to Rs 91 billion in FY20, thereby witnessing an decrease of -8.7%.
  • Long-term debt down at Rs 16 billion as compared to Rs 18 billion during FY20, a fall of 10.6%.
  • Current assets fell 4% and stood at Rs 113 billion, while fixed assets rose 1% and stood at Rs 39 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 152 billion as against Rs 157 billion during FY20, thereby witnessing a fall of 3%.

KALPATARU POWER Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 33,584 37,385 11.3
 
Current Liabilities Rs m 91,388 83,427 -8.7
Long-term Debt Rs m 17,971 16,071 -10.6
Total Liabilities Rs m 156,605 152,236 -2.8
 
Current assets Rs m 117,982 113,206 -4.0
Fixed Assets Rs m 38,623 39,030 1.1
Total Assets Rs m 156,605 152,236 -2.8
* 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 FY21 stood at Rs 9 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs 78 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -9 billion on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 288 million from the Rs 3 billion net cash flows seen during FY20.

KALPATARU POWER 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 9,372 9,310 -0.7%
Cash Flow from Investing Activities Rs m -7,473 78 -
Cash Flow from Financing Activities Rs m 403 -8,967 -
Net Cash Flow Rs m 2,648 288 -89.1%
* 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 46.6, an improvement from the EPS of Rs 26.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 376.9, stands at 8.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.5 times, while the price to sales ratio stands at 0.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 4.0 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 819.3 869.6
TTM Earnings per share Rs 26.7 46.6
Diluted earnings per share Rs 27.7 46.6
Price to Cash Flow x 3.6 4.0
TTM P/E ratio x 6.5 8.1
Price / Book Value ratio x 1.7 1.2
Market Cap Rs m 55,968 43,050
Dividends per share (Unadj.) Rs 3.5 10.0
* 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 FY21, from 1.3x 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 2.8x during FY21, from 2.1x 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 18.6% during FY21, from 12.3% 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 improved and stood at 28.3% during FY21, from 24.7% 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 8.1% during FY21, from 6.5% 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 1.3 1.4
Debtors’ Days Days 13 14
Interest coverage x 2.1 2.8
Debt to equity ratio x 0.5 0.4
Return on assets % 6.5 8.1
Return on equity % 12.3 18.6
Return on capital employed % 24.7 28.3
* 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 up from Rs 181.5 to Rs 376.9, registering a gain of Rs 195.4 or around 107.7%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 21,095.8 (down 0.4%). Over the last one year it has moved up from 10,979.5 to 21,095.8, a gain of 10,116 points (up 92.1%).

Overall, the S&P BSE SENSEX is up 74.1% 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 FY21? How does it compare to earlier years?

The revenues of KALPATARU POWER stood at Rs 130,350 m in FY21, which was up 2.0% compared to Rs 127,771 m reported in FY20.

KALPATARU POWER's revenue has grown from Rs 74,312 m in FY17 to Rs 130,350 m in FY21.

Over the past 5 years, the revenue of KALPATARU POWER has grown at a CAGR of 15.1%.

What was the net profit of KALPATARU POWER in FY21? How does it compare to earlier years?

The net profit of KALPATARU POWER stood at Rs 6,943 m in FY21, which was up 68.1% compared to Rs 4,130 m reported in FY20.

This compares to a net profit of Rs 5,052 m in FY19 and a net profit of Rs 2,951 m in FY18.

Over the past 5 years, KALPATARU POWER net profit has grown at a CAGR of 38.5%.

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 decreased in FY21 and stood at Rs 9,310 m as compared to Rs 9,372 m in FY20.
  • Cash flow from investments increased in FY21 and stood at Rs 78 m as compared to Rs -7,473 m in FY20.
  • Cash flow from financial activity decreased in FY21 and stood at Rs -8,967 m as compared to Rs 403 m in FY20.

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

(Rs m)FY17FY18FY19FY20FY21
From Operations7,6646,49610,3539,3729,310
From Investments-2,333-7,000-8,356-7,47378
From Financial Activity-4,388658-2,189403-8,967
Net Cashflow928166-1892,648288

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 13.9% in FY21 as against 11.9% in FY20.
  • Net profit margins grew from 3.3% in FY20 to 5.4% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.4 as compared to 0.5 in FY20.

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

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)12.712.813.211.913.9
Net Profit Margin (%)2.63.44.73.35.4
Debt to Equity Ratio (x)0.80.90.60.50.4

Read: Latest Annual Report Analysis of KALPATARU PROJECTS INTERNATIONAL

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