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KIRLOSKAR ELECTRIC 2021-22 Annual Report Analysis
Tue, 20 Sep

KIRLOSKAR ELECTRIC has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

KIRLOSKAR ELECTRIC Income Statement Analysis

  • Operating income during the year rose 20.6% on a year-on-year (YoY) basis.
  • The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and down at 4.7% in FY22 as against 6.3% in FY21.
  • Depreciation charges decreased by 37.8% and finance costs increased by 2.3% YoY, respectively.
  • Other income grew by 1429.2% YoY.
  • Net profit for the year declined by NA YoY.
  • Net profit margins during the year grew from 17.3% in FY21 to 20.1% in FY22.

KIRLOSKAR ELECTRIC Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 2,776 3,347 20.6%
Other income Rs m 78 1,190 1,429.2%
Total Revenues Rs m 2,854 4,537 59.0%
Gross profit Rs m -175 -157 NA
Depreciation Rs m 84 52 -37.8%
Interest Rs m 301 307 2.3%
Profit before tax Rs m -481 674 NA
Tax Rs m 0 0 0.0
Profit after tax Rs m -481 674 NA
Gross profit margin % -6.3 -4.7
Effective tax rate % 0.0 0.0
Net profit margin % -17.3 20.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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KIRLOSKAR ELECTRIC Balance Sheet Analysis

  • The company's current liabilities during FY22 down at Rs 5 billion as compared to Rs 5 billion in FY21, thereby witnessing an decrease of -5.2%.
  • Current assets rose 25% and stood at Rs 1 billion, while fixed assets fell 8% and stood at Rs 5 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 6 billion as against Rs 6 billion during FY21, thereby witnessing a fall of 2%.

KIRLOSKAR ELECTRIC Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 335 760 126.8
 
Current Liabilities Rs m 4,907 4,652 -5.2
Long-term Debt Rs m 234 0 -100.0
Total Liabilities Rs m 6,266 6,144 -1.9
 
Current assets Rs m 1,143 1,432 25.3
Fixed Assets Rs m 5,123 4,712 -8.0
Total Assets Rs m 6,266 6,144 -1.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



KIRLOSKAR ELECTRIC Cash Flow Statement Analysis

  • KIRLOSKAR ELECTRIC's cash flow from operating activities (CFO) during FY22 stood at Rs 350 million, an improvement of 16.9% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs 1 billion, an improvement of 1,757.7% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -1 billion on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs 293 million from the Rs 15 million net cash flows seen during FY21.

KIRLOSKAR ELECTRIC Cash Flow Statement 2021-22

Particulars No. of months 12 12 % Change
Year Ending Mar-21 Mar-22
Cash Flow from Operating Activities Rs m 299 350 16.9%
Cash Flow from Investing Activities Rs m 56 1,031 1,757.7%
Cash Flow from Financing Activities Rs m -340 -1,088 -
Net Cash Flow Rs m 15 293 1,869.5%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for KIRLOSKAR ELECTRIC

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 10.1, an improvement from the EPS of Rs -7.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 42.5, stands at 3.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.7 times, while the price to sales ratio stands at 0.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 2.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 41.8 50.4
TTM Earnings per share Rs -7.2 10.1
Diluted earnings per share Rs -7.2 10.1
Price to Cash Flow x -2.1 2.0
TTM P/E ratio x -1.7 3.6
Price / Book Value ratio x 2.5 1.9
Market Cap Rs m 822 1,416
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for KIRLOSKAR ELECTRIC

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.3x during FY22, from 0.2x during FY21. 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 3.2x during FY22, from -0.6x during FY21. 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 88.7% during FY22, from -143.6% during FY22. 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 129.1% during FY22, from -31.8% during FY21. 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 16.0% during FY22, from -2.9% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 0.2 0.3
Debtors’ Days Days 629 419
Interest coverage x -0.6 3.2
Debt to equity ratio x 0.7 0.0
Return on assets % -2.9 16.0
Return on equity % -143.6 88.7
Return on capital employed % -31.8 129.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how KIRLOSKAR ELECTRIC has performed over the last 5 years, please visit here.

KIRLOSKAR ELECTRIC Share Price Performance

Over the last one year, KIRLOSKAR ELECTRIC share price has moved up from Rs 17.0 to Rs 42.5, registering a gain of Rs 25.5 or around 149.7%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 42,926.4 (up 2.0%). Over the last one year it has moved up from 40,535.1 to 42,926.4, a gain of 2,391 points (up 5.9%).

Overall, the S&P BSE SENSEX is up 0.9% over the year.

(To know more, check out historical annual results for KIRLOSKAR ELECTRIC and quarterly results for KIRLOSKAR ELECTRIC)

Annual Report FAQs

What is the current share price of KIRLOSKAR ELECTRIC?

KIRLOSKAR ELECTRIC currently trades at Rs 104.4 per share. You can check out the latest share price performance of KIRLOSKAR ELECTRIC here...

What was the revenue of KIRLOSKAR ELECTRIC in FY22? How does it compare to earlier years?

The revenues of KIRLOSKAR ELECTRIC stood at Rs 4,537 m in FY22, which was up 59.0% compared to Rs 2,854 m reported in FY21.

KIRLOSKAR ELECTRIC's revenue has grown from Rs 3,688 m in FY18 to Rs 4,537 m in FY22.

Over the past 5 years, the revenue of KIRLOSKAR ELECTRIC has grown at a CAGR of 5.3%.

What was the net profit of KIRLOSKAR ELECTRIC in FY22? How does it compare to earlier years?

The net profit of KIRLOSKAR ELECTRIC stood at Rs 674 m in FY22, which was NA compared to Rs -481 m reported in FY21.

This compares to a net profit of Rs 453 m in FY20 and a net loss of Rs -279 m in FY19.

Over the past 5 years, KIRLOSKAR ELECTRIC net profit has grown at a CAGR of NaN%.

What does the cash flow statement of KIRLOSKAR ELECTRIC 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 KIRLOSKAR ELECTRIC reveals:

  • Cash flow from operations increased in FY22 and stood at Rs 350 m as compared to Rs 299 m in FY21.
  • Cash flow from investments increased in FY22 and stood at Rs 1,031 m as compared to Rs 56 m in FY21.
  • Cash flow from financial activity decreased in FY22 and stood at Rs -1,088 m as compared to Rs -340 m in FY21.

Here's the cash flow statement of KIRLOSKAR ELECTRIC for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations22713345299350
From Investments45625688561,031
From Financial Activity-274-661-1,068-340-1,088
Net Cashflow-1-23-3515293

What does the Key Ratio analysis of KIRLOSKAR ELECTRIC 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 KIRLOSKAR ELECTRIC reveals:

  • Operating profit margins witnessed a growth and down at 4.7% in FY22 as against 6.3% in FY21.
  • Net profit margins grew from 17.3% in FY21 to 20.1% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.0 as compared to 0.7 in FY21.

Here's the ratio/financial analysis of KIRLOSKAR ELECTRIC for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)-10.9-12.91.7-6.3-4.7
Net Profit Margin (%)-24.1-9.514.4-17.320.1
Debt to Equity Ratio (x)-3.4-0.8-0.90.70.0

Read: Latest Annual Report Analysis of KIRLOSKAR ELECTRIC

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