LOVABLE LINGERIE 2017-18 Annual Report Analysis

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LOVABLE LINGERIE 2017-18 Annual Report Analysis
Tue, 18 Dec

LOVABLE LINGERIE has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

LOVABLE LINGERIE Income Statement Analysis

  • Operating income during the year fell 10.9% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 51.4% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 5.2% in FY18 as against 9.5% in FY17.
  • Depreciation charges increased by 0.9% and finance costs increased by 8.7% YoY, respectively.
  • Other income declined by 37.2% YoY.
  • Net profit for the year declined by 118.6% YoY.
  • Net profit margins during the year declined from 6.3% in FY17 to 1.3% in FY18.

LOVABLE LINGERIE Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 1,974 1,759 -10.9%
Other income Rs m 69 43 -37.2%
Total Revenues Rs m 2,043 1,803 -11.8%
Gross profit Rs m 188 92 -51.4%
Depreciation Rs m 34 34 0.9%
Interest Rs m 9 10 8.7%
Profit before tax Rs m 214 91 -57.7%
Tax Rs m 46 -26 -156.3%
Profit after tax Rs m 129 -24 -118.6%
Gross profit margin % 9.5 5.2
Effective tax rate % 21.4 -28.5
Net profit margin % 6.3 -1.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



LOVABLE LINGERIE Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 168 million as compared to Rs 323 million in FY17, thereby witnessing an decrease of -47.9%.
  • Current assets fell 13% and stood at Rs 1 billion, while fixed assets fell 47% and stood at Rs 261 million in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 2 billion as against Rs 3 billion during FY17, thereby witnessing a fall of 28%.

LOVABLE LINGERIE Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 2,222 1,653 -25.6
 
Current Liabilities Rs m 323 168 -47.9
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 2,631 1,906 -27.5
 
Current assets Rs m 1,188 1,036 -12.8
Fixed Assets Rs m 491 261 -46.8
Total Assets Rs m 2,631 1,906 -27.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



LOVABLE LINGERIE Cash Flow Statement Analysis

  • LOVABLE LINGERIE's cash flow from operating activities (CFO) during FY18 stood at Rs -15 million, an improvement of 51.5% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 715 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -662 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 39 million from the Rs -26 million net cash flows seen during FY17.

LOVABLE LINGERIE Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m -10 -15 -
Cash Flow from Investing Activities Rs m -107 715 -
Cash Flow from Financing Activities Rs m 91 -662 -
Net Cash Flow Rs m -26 39 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for LOVABLE LINGERIE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -1.6, an decline from the EPS of Rs 7.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 98.5, stands at -25.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.0 times, while the price to sales ratio stands at 1.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 159.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 117.5 118.9
TTM Earnings per share Rs 7.6 -1.6
Diluted earnings per share Rs 7.6 -1.4
Price to Cash Flow x 10.2 159.0
TTM P/E ratio x -25.2 -25.2
Price / Book Value ratio x 2.0 2.0
Market Cap Rs m 1,654 1,654
Dividends per share (Unadj.) Rs 1.0 1.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for LOVABLE LINGERIE

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 6.2x during FY18, from 3.7x during FY17. 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 deteriorated and stood at 10.1x during FY18, from 24.3x during FY17. 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 -1.4% during FY18, from 5.8% during FY18. 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 -2.4% during FY18, from 8.3% during FY17. 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 declined and down at -0.7% during FY18, from 5.2% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 3.7 6.2
Debtors’ Days Days 73 98
Interest coverage x 24.3 10.1
Debt to equity ratio x 0.0 0.0
Return on assets % 5.2 -0.7
Return on equity % 5.8 -1.4
Return on capital employed % 8.3 -2.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how LOVABLE LINGERIE has performed over the last 5 years, please visit here.

LOVABLE LINGERIE Share Price Performance

Over the last one year, LOVABLE LINGERIE share price has moved up from Rs 231.2 to Rs 98.5, registering a loss of Rs 132.8 or around 57.4%.

Overall, the S&P BSE SENSEX is up 7.4% over the year.

(To know more, check out historical annual results for LOVABLE LINGERIE and quarterly results for LOVABLE LINGERIE)

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Related Views on News

LOVABLE LINGERIE Announces Quarterly Results (1QFY20); Net Profit Down 12.3% (Quarterly Result Update)

Aug 16, 2019 | Updated on Aug 16, 2019

For the quarter ended June 2019, LOVABLE LINGERIE has posted a net profit of Rs 36 m (down 12.3% YoY). Sales on the other hand came in at Rs 526 m (down 4.2% YoY). Read on for a complete analysis of LOVABLE LINGERIE's quarterly results.

LOVABLE LINGERIE Announces Quarterly Results (3QFY19); Net Profit Down 9.0% (Quarterly Result Update)

Feb 25, 2019 | Updated on Feb 25, 2019

For the quarter ended December 2018, LOVABLE LINGERIE has posted a net profit of Rs 21 m (down 9.0% YoY). Sales on the other hand came in at Rs 507 m (up 27.4% YoY). Read on for a complete analysis of LOVABLE LINGERIE's quarterly results.

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