KILPEST IND 2020-21 Annual Report Analysis

Wed, 31 Mar

KILPEST IND 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.

KILPEST IND Income Statement Analysis

• Operating income during the year rose 685.3% on a year-on-year (YoY) basis.
• The company's operating profit increased by 1508.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 66.1% in FY21 as against 32.3% in FY20.
• Depreciation charges increased by 14.9% and finance costs decreased by 31.7% YoY, respectively.
• Other income grew by 80.8% YoY.
• Net profit for the year grew by 1381.3% YoY.
• Net profit margins during the year grew from 26.6% in FY20 to 50.2% in FY21.

KILPEST IND Income Statement 2020-21

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*	% Change
Net Sales	Rs m	289	2,267	685.3%
Other income	Rs m	16	29	80.8%
Total Revenues	Rs m	305	2,296	653.5%
Gross profit	Rs m	93	1,500	1,508.8%
Depreciation	Rs m	5	6	14.9%
Interest	Rs m	3	2	-31.7%
Profit before tax	Rs m	101	1,520	1,412.5%
Tax	Rs m	24	382	1,514.5%
Profit after tax	Rs m	77	1,139	1,381.3%
Gross profit margin	%	32.3	66.1
Effective tax rate	%	23.5	25.1
Net profit margin	%	26.6	50.2

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KILPEST IND Balance Sheet Analysis

• The company's current liabilities during FY21 stood at Rs 430 million as compared to Rs 82 million in FY20, thereby witnessing an increase of 426.6%.
• Long-term debt down at Rs 10 million as compared to Rs 15 million during FY20, a fall of 30.4%.
• Current assets rose 201% and stood at Rs 1 billion, while fixed assets rose 1,266% and stood at Rs 751 million in FY21.
• Overall, the total assets and liabilities for FY21 stood at Rs 2 billion as against Rs 448 million during FY20, thereby witnessing a growth of 332%.

KILPEST IND Balance Sheet as on March 2021

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*	% Change
Networth	Rs m	321	1,321	311.2
Current Liabilities	Rs m	82	430	426.6
Long-term Debt	Rs m	15	10	-30.4
Total Liabilities	Rs m	448	1,935	331.6
Current assets	Rs m	393	1,184	201.0
Fixed Assets	Rs m	55	751	1,266.0
Total Assets	Rs m	448	1,935	331.6

KILPEST IND Cash Flow Statement Analysis

• KILPEST IND's cash flow from operating activities (CFO) during FY21 stood at Rs 975 million, an improvement of 1,285.2% on a YoY basis.
• Cash flow from investing activities (CFI) during FY21 stood at Rs -703 million, an improvement of 10,877.8% on a YoY basis.
• Cash flow from financial activities (CFF) during FY21 stood at Rs -16 million on a YoY basis.
• Overall, net cash flows for the company during FY21 stood at Rs 257 million from the Rs 72 million net cash flows seen during FY20.

KILPEST IND 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	70	975	1,285.2%
Cash Flow from Investing Activities	Rs m	-6	-703	-
Cash Flow from Financing Activities	Rs m	8	-16	-
Net Cash Flow	Rs m	72	257	256.4%

Current Valuations for KILPEST IND

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 151.6, an improvement from the EPS of Rs 10.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 284.7, stands at 1.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.6 times, while the price to sales ratio stands at 0.9 times.
• The company's price to cash flow (P/CF) ratio stood at 1.9 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	38.4	301.9
TTM Earnings per share	Rs	10.2	151.6
Diluted earnings per share	Rs	10.2	151.7
Price to Cash Flow	x	6.6	1.9
TTM P/E ratio	x	7.1	1.9
Price / Book Value ratio	x	1.9	1.7
Market Cap	Rs m	615	2,196
Dividends per share (Unadj.)	Rs	0.7	1.0

Ratio Analysis for KILPEST IND

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 2.8x during FY21, from 4.8x 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 667.8x during FY21, from 31.1x 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 86.2% during FY21, from 23.9% 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 114.4% during FY21, from 30.9% 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 59.0% during FY21, from 17.9% 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	4.8	2.8
Debtors’ Days	Days	251,933,564	55,999,344
Interest coverage	x	31.1	667.8
Debt to equity ratio	x	0.0	0.0
Return on assets	%	17.9	59.0
Return on equity	%	23.9	86.2
Return on capital employed	%	30.9	114.4

To see how KILPEST IND has performed over the last 5 years, please visit here.

KILPEST IND Share Price Performance

Over the last one year, KILPEST IND share price has moved up from Rs 72.6 to Rs 284.7, registering a gain of Rs 212.2 or around 292.4%.

Overall, the S&P BSE SENSEX is up 74.1% over the year.

(To know more, check out historical annual results for KILPEST IND and quarterly results for KILPEST IND)

Read: Latest Annual Report Analysis of KILPEST IND