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MANALI PETRO 2017-18 Annual Report Analysis

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MANALI PETRO 2017-18 Annual Report Analysis
Fri, 29 Mar

MANALI PETRO 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.

MANALI PETRO Income Statement Analysis

  • Operating income during the year rose 18.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 61.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.0% in FY18 as against 9.5% in FY17.
  • Depreciation charges decreased by 7.8% and finance costs increased by 41.1% YoY, respectively.
  • Other income declined by 77.4% YoY.
  • Net profit for the year grew by 46.4% YoY.
  • Net profit margins during the year grew from 6.1% in FY17 to 7.7% in FY18.

MANALI PETRO Income Statement 2017-18

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
Net SalesRs m6,3217,47818.3%
Other incomeRs m13230-77.4%
Total RevenuesRs m6,4537,50816.3%
Gross profitRs m60097061.7%
DepreciationRs m9789-7.8%
InterestRs m233341.1%
Profit before taxRs m61287843.4%
TaxRs m21729937.9%
Profit after taxRs m39657946.4%
Gross profit margin%9.513.0
Effective tax rate%35.434.1
Net profit margin%6.17.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



MANALI PETRO Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 1 billion as compared to Rs 2 billion in FY17, thereby witnessing an decrease of -33.7%.
  • Current assets fell 8% and stood at Rs 3 billion, while fixed assets rose 8% and stood at Rs 2 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 6 billion as against Rs 6 billion during FY17, thereby witnessing a fall of 0%.

MANALI PETRO Balance Sheet as on March 2018

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
NetworthRs m3,3033,91718.6
 
Current LiabilitiesRs m2,1021,393-33.7
Long-term DebtRs m000.0
Total LiabilitiesRs m5,5605,5600.0
 
Current assetsRs m2,7322,503-8.4
Fixed AssetsRs m 1,8361,9817.9
Total AssetsRs m5,5605,5600.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



MANALI PETRO Cash Flow Statement Analysis

  • MANALI PETRO's cash flow from operating activities (CFO) during FY18 stood at Rs 581 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -225 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -167 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 332 million from the Rs -395 million net cash flows seen during FY17.

MANALI PETRO Cash Flow Statement 2017-18

ParticularsNo. of months1212% Change
Year EndingMar-17Mar-18
Cash Flow from Operating ActivitiesRs m874581-33.5%
Cash Flow from Investing ActivitiesRs m-1,241-225-
Cash Flow from Financing ActivitiesRs m58-167-
Net Cash FlowRs m-395332-
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for MANALI PETRO

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.4, an improvement from the EPS of Rs 2.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 25.6, stands at 6.2 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 0.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 6.6 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Sales per share (Unadj.)Rs36.743.5
TTM Earnings per shareRs2.33.4
Diluted earnings per shareRs2.33.4
Price to Cash Flow x8.96.6
TTM P/E ratiox6.26.2
Price / Book Value ratiox1.91.7
Market CapRs m4,4034,403
Dividends per share (Unadj.)Rs0.50.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for MANALI PETRO

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.8x during FY18, from 1.3x 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 improved and stood at 27.9x during FY18, from 27.5x 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 improved and stood at 14.8% during FY18, from 12.0% 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 improved and stood at 23.2% during FY18, from 19.2% 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 improved and stood at 11.0% during FY18, from 7.5% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Current ratiox1.31.8
Debtors’ DaysDays5149
Interest coveragex27.527.9
Debt to equity ratiox0.00.0
Return on assets%7.511.0
Return on equity%12.014.8
Return on capital employed%19.223.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how MANALI PETRO has performed over the last 5 years, please visit here.

MANALI PETRO Share Price Performance

Over the last one year, MANALI PETRO share price has moved up from Rs 33.5 to Rs 25.6, registering a loss of Rs 7.9 or around 23.6%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 15,220.4 (up 0.5%). Over the last one year it has moved up from 14,614.4 to 15,220.4, a gain of 606 points (up 4.1%).

(To know more, check out historical annual results for MANALI PETRO and quarterly results for MANALI PETRO)

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Related Views on News

MANALI PETRO Announces Quarterly Results (4QFY19); Net Profit Down 21.4% (Quarterly Result Update)

May 24, 2019 | Updated on May 24, 2019

For the quarter ended March 2019, MANALI PETRO has posted a net profit of Rs 209 m (down 21.4% YoY). Sales on the other hand came in at Rs 2 bn (down 13.7% YoY). Read on for a complete analysis of MANALI PETRO's quarterly results.

MANALI PETRO Announces Quarterly Results (3QFY19); Net Profit Down 33.1% (Quarterly Result Update)

Feb 14, 2019 | Updated on Feb 14, 2019

For the quarter ended December 2018, MANALI PETRO has posted a net profit of Rs 115 m (down 33.1% YoY). Sales on the other hand came in at Rs 2 bn (up 9.5% YoY). Read on for a complete analysis of MANALI PETRO's quarterly results.

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