CERA SANITARY 2017-18 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

CERA SANITARY 2017-18 Annual Report Analysis
Tue, 9 Apr

CERA SANITARY 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.

CERA SANITARY Income Statement Analysis

  • Operating income during the year rose 17.5% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 1.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 15.0% in FY18 as against 17.4% in FY17.
  • Depreciation charges increased by 22.5% and finance costs decreased by 0.9% YoY, respectively.
  • Other income declined by 0.8% YoY.
  • Net profit for the year grew by 6.0% YoY.
  • Net profit margins during the year declined from 9.8% in FY17 to 8.8% in FY18.

CERA SANITARY Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 10,085 11,853 17.5%
Other income Rs m 146 145 -0.8%
Total Revenues Rs m 10,231 11,998 17.3%
Gross profit Rs m 1,756 1,774 1.0%
Depreciation Rs m 222 271 22.5%
Interest Rs m 99 98 -0.9%
Profit before tax Rs m 1,582 1,549 -2.0%
Tax Rs m 580 488 -15.9%
Profit after tax Rs m 1,001 1,061 6.0%
Gross profit margin % 17.4 15.0
Effective tax rate % 36.7 31.5
Net profit margin % 9.8 8.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



CERA SANITARY Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 3 billion as compared to Rs 3 billion in FY17, thereby witnessing an increase of 4.3%.
  • Long-term debt down at Rs 459 million as compared to Rs 478 million during FY17, a fall of 3.9%.
  • Current assets rose 14% and stood at Rs 6 billion, while fixed assets rose 6% and stood at Rs 4 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 10 billion as against Rs 9 billion during FY17, thereby witnessing a growth of 11%.

CERA SANITARY Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 5,222 6,056 16.0
 
Current Liabilities Rs m 3,115 3,250 4.3
Long-term Debt Rs m 478 459 -3.9
Total Liabilities Rs m 9,446 10,461 10.7
 
Current assets Rs m 5,605 6,389 14.0
Fixed Assets Rs m 3,451 3,650 5.8
Total Assets Rs m 9,446 10,461 10.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



CERA SANITARY Cash Flow Statement Analysis

  • CERA SANITARY's cash flow from operating activities (CFO) during FY18 stood at Rs 754 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -410 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -339 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 5 million from the Rs 2 million net cash flows seen during FY17.

CERA SANITARY 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 1,016 754 -25.8%
Cash Flow from Investing Activities Rs m -1,023 -410 -
Cash Flow from Financing Activities Rs m 8 -339 -
Net Cash Flow Rs m 2 5 231.3%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for CERA SANITARY

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 81.6, an improvement from the EPS of Rs 77.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 2,860.8, stands at 33.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 7.5 times, while the price to sales ratio stands at 3.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 27.2 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 775.2 911.1
TTM Earnings per share Rs 77.0 81.6
Diluted earnings per share Rs 79.1 83.8
Price to Cash Flow x 30.4 27.2
TTM P/E ratio x 34.6 33.7
Price / Book Value ratio x 6.1 7.5
Market Cap Rs m 37,219 36,218
Dividends per share (Unadj.) Rs 12.0 12.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for CERA SANITARY

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.0x during FY18, from 1.8x 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 16.9x during FY18, from 17.1x 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 17.5% during FY18, from 19.2% 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 25.3% during FY18, from 29.5% 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 11.1% during FY18, from 11.6% 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 1.8 2.0
Debtors’ Days Days 80 83
Interest coverage x 17.1 16.9
Debt to equity ratio x 0.1 0.1
Return on assets % 11.6 11.1
Return on equity % 19.2 17.5
Return on capital employed % 29.5 25.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how CERA SANITARY has performed over the last 5 years, please visit here.

CERA SANITARY Share Price Performance

Over the last one year, CERA SANITARY share price has moved up from Rs 3,323.7 to Rs 2,860.8, registering a loss of Rs 462.9 or around 13.9%.

Overall, the S&P BSE SENSEX is up 14.9% over the year.

(To know more, check out historical annual results for CERA SANITARY and quarterly results for CERA SANITARY)

Equitymaster requests your view! Post a comment on "CERA SANITARY 2017-18 Annual Report Analysis". Click here!

  

Related Views on News

CERA SANITARY Announces Quarterly Results (3QFY21); Net Profit Up 2.5% (Quarterly Result Update)

Feb 3, 2021 | Updated on Feb 3, 2021

For the quarter ended December 2020, CERA SANITARY has posted a net profit of Rs 291 m (up 2.5% YoY). Sales on the other hand came in at Rs 3 bn (down 3.6% YoY). Read on for a complete analysis of CERA SANITARY's quarterly results.

CERA SANITARY Announces Quarterly Results (1QFY21); Net Profit Down 84.7% (Quarterly Result Update)

Aug 20, 2020 | Updated on Aug 20, 2020

For the quarter ended June 2020, CERA SANITARY has posted a net profit of Rs 29 m (down 84.7% YoY). Sales on the other hand came in at Rs 1 bn (down 46.7% YoY). Read on for a complete analysis of CERA SANITARY's quarterly results.

Shares of Oxygen Suppliers in Focus Amid Rising Demand for Oxygen (Company Info)

Apr 20, 2021

In this article, we discuss the hype around Oxygen supplier stocks and a little known NBFC company, which has rallied 150% in less than a month.

Nazara Technologies IPO: Should You Apply? (IPO)

Mar 17, 2021

Should you bet on this gaming company backed by ace investor Rakesh Jhunjhunwala?

More Views on News

Most Popular

My 'Unlock' Investments(Fast Profits Daily)

Jun 11, 2021

The best unlock investments you can make in the market.

How I Discovered a 400-Year-Old Open Secret to Extreme Wealth(Profit Hunter)

Jun 11, 2021

Charlie Munger's open secret about investing success.

The Most Visible Sign of India's Revival is on Two Wheels(Profit Hunter)

Jun 9, 2021

Investing in the best stocks could result in wealth compounding on a massive scale.

Wednesday's Market Fall Explained(Fast Profits Daily)

Jun 10, 2021

This is why the stock market fell the way it did on Wednesday.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

TRACK CERA SANITARY

  • Track your investment in CERA SANITARY with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

CERA SANITARY 8-QTR ANALYSIS

COMPARE CERA SANITARY WITH

MARKET STATS