KILPEST IND 2020-21 Annual Report Analysis

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KILPEST IND 2020-21 Annual Report Analysis
Tue, 9 Nov

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 25.2% in FY20 to 49.6% 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 % 25.2 49.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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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
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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 470.0, stands at 3.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.7 times, while the price to sales ratio stands at 1.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 3.1 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 42.9 3.1
TTM P/E ratio x 3.5 3.5
Price / Book Value ratio x 1.9 1.7
Market Cap Rs m 3,528 3,528
Dividends per share (Unadj.) Rs 0.7 1.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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 421.8 to Rs 470.0, registering a gain of Rs 48.2 or around 11.4%.

Overall, the S&P BSE SENSEX is up 48.8% over the year.

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

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