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KAMAT HOTELS 2021-22 Annual Report Analysis
Tue, 8 Nov

KAMAT HOTELS 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.

KAMAT HOTELS Income Statement Analysis

  • Operating income during the year rose 118.9% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 219.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 25.1% in FY22 as against 17.2% in FY21.
  • Depreciation charges decreased by 3.0% and finance costs increased by 20.8% YoY, respectively.
  • Other income declined by 42.2% YoY.
  • Net profit for the year declined by NA YoY.
  • Net profit margins during the year grew from 55.0% in FY21 to 15.7% in FY22.

KAMAT HOTELS Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 660 1,445 118.9%
Other income Rs m 21 12 -42.2%
Total Revenues Rs m 681 1,457 114.1%
Gross profit Rs m 114 362 219.0%
Depreciation Rs m 175 170 -3.0%
Interest Rs m 418 505 20.8%
Profit before tax Rs m -459 -301 NA
Tax Rs m -96 -74 NA
Profit after tax Rs m -363 -227 NA
Gross profit margin % 17.2 25.1
Effective tax rate % 20.9 24.6
Net profit margin % -55.0 -15.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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KAMAT HOTELS Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 6 billion as compared to Rs 5 billion in FY21, thereby witnessing an increase of 11.0%.
  • Long-term debt down at Rs 397 million as compared to Rs 642 million during FY21, a fall of 38.1%.
  • Current assets rose 48% and stood at Rs 423 million, while fixed assets fell 3% and stood at Rs 4 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 5 billion as against Rs 5 billion during FY21, thereby witnessing a growth of 0%.

KAMAT HOTELS Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m -1,587 -1,812 NA
 
Current Liabilities Rs m 5,179 5,750 11.0
Long-term Debt Rs m 642 397 -38.1
Total Liabilities Rs m 4,647 4,669 0.5
 
Current assets Rs m 285 423 48.3
Fixed Assets Rs m 4,361 4,245 -2.7
Total Assets Rs m 4,647 4,669 0.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



KAMAT HOTELS Cash Flow Statement Analysis

  • KAMAT HOTELS's cash flow from operating activities (CFO) during FY22 stood at Rs 307 million, an improvement of 2,935.1% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -49 million, an improvement of 18.5% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -167 million on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs 91 million from the Rs 15 million net cash flows seen during FY21.

KAMAT HOTELS 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 10 307 2,935.1%
Cash Flow from Investing Activities Rs m -41 -49 -
Cash Flow from Financing Activities Rs m 46 -167 -
Net Cash Flow Rs m 15 91 496.7%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for KAMAT HOTELS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -9.6, an improvement from the EPS of Rs -15.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 91.8, stands at 63.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at -1.2 times, while the price to sales ratio stands at 1.5 times.
  • The company's price to cash flow (P/CF) ratio stood at -21.5 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 28.0 61.3
TTM Earnings per share Rs -15.4 -9.6
Diluted earnings per share Rs -15.4 -9.6
Price to Cash Flow x -3.7 -21.5
TTM P/E ratio x -2.0 63.7
Price / Book Value ratio x -0.4 -0.7
Market Cap Rs m 683 1,214
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for KAMAT HOTELS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.1x during FY22, from 0.1x 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 0.4x during FY22, from -0.1x 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 declined and down at 12.5% during FY22, from 22.9% 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 declined and down at -14.4% during FY22, from 4.4% 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 6.0% during FY22, from 1.2% 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 0.1 0.1
Debtors’ Days Days 314 249
Interest coverage x -0.1 0.4
Debt to equity ratio x -0.4 -0.2
Return on assets % 1.2 6.0
Return on equity % 22.9 12.5
Return on capital employed % 4.4 -14.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how KAMAT HOTELS has performed over the last 5 years, please visit here.

KAMAT HOTELS Share Price Performance

Over the last one year, KAMAT HOTELS share price has moved up from Rs 61.2 to Rs 91.8, registering a gain of Rs 30.6 or around 49.9%.

Overall, the S&P BSE SENSEX is up 1.9% over the year.

(To know more, check out historical annual results for KAMAT HOTELS and quarterly results for KAMAT HOTELS)

Annual Report FAQs

What is the current share price of KAMAT HOTELS?

KAMAT HOTELS currently trades at Rs 250.2 per share. You can check out the latest share price performance of KAMAT HOTELS here...

What was the revenue of KAMAT HOTELS in FY22? How does it compare to earlier years?

The revenues of KAMAT HOTELS stood at Rs 1,457 m in FY22, which was up 114.1% compared to Rs 681 m reported in FY21.

KAMAT HOTELS' revenue has fallen from Rs 2,058 m in FY18 to Rs 1,457 m in FY22.

Over the past 5 years, the revenue of KAMAT HOTELS has grown at a CAGR of -8.3%.

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

The net loss of KAMAT HOTELS stood at Rs -227 m in FY22, which was NA compared to Rs -363 m reported in FY21.

This compares to a net profit of Rs 251 m in FY20 and a net profit of Rs 166 m in FY19.

Over the past 5 years, KAMAT HOTELS net profit has grown at a CAGR of -41.5%.

What does the cash flow statement of KAMAT HOTELS 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 KAMAT HOTELS reveals:

  • Cash flow from operations increased in FY22 and stood at Rs 307 m as compared to Rs 10 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -49 m as compared to Rs -41 m in FY21.
  • Cash flow from financial activity decreased in FY22 and stood at Rs -167 m as compared to Rs 46 m in FY21.

Here's the cash flow statement of KAMAT HOTELS for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations1,14678974110307
From Investments-2-68-80-41-49
From Financial Activity-1,170-736-58046-167
Net Cashflow-26-15811591

What does the Key Ratio analysis of KAMAT HOTELS 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 KAMAT HOTELS reveals:

  • Operating profit margins witnessed a fall and down at 25.1% in FY22 as against 17.2% in FY21.
  • Net profit margins grew from 55.0% in FY21 to 15.7% in FY22.
  • Debt to Equity ratio for FY22 stood at -0.2 as compared to -0.4 in FY21.

Here's the ratio/financial analysis of KAMAT HOTELS for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)-73.727.135.417.225.1
Net Profit Margin (%)-96.57.011.3-55.0-15.7
Debt to Equity Ratio (x)-1.0-1.8-1.7-0.4-0.2

Read: Latest Annual Report Analysis of KAMAT HOTELS

 

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