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MOIL LTD 2017-18 Annual Report Analysis

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MOIL LTD 2017-18 Annual Report Analysis
Tue, 15 Jan

MOIL LTD 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.

MOIL LTD Income Statement Analysis

  • Operating income during the year rose 34.8% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 79.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 40.2% in FY18 as against 30.3% in FY17.
  • Depreciation charges increased by 14.1% increased by 0.0% YoY, respectively.
  • Other income declined by 19.7% YoY.
  • Net profit for the year grew by 35.8% YoY.
  • Net profit margins during the year grew from 25.6% in FY17 to 27.8% in FY18.

MOIL LTD Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 9,819 13,235 34.8%
Other income Rs m 2,212 1,777 -19.7%
Total Revenues Rs m 12,031 15,012 24.8%
Gross profit Rs m 2,972 5,327 79.2%
Depreciation Rs m 547 625 14.1%
Interest Rs m 0 0 0.0%
Profit before tax Rs m 4,637 6,479 39.7%
Tax Rs m 1,561 2,259 44.7%
Profit after tax Rs m 3,074 4,174 35.8%
Gross profit margin % 30.3 40.2
Effective tax rate % 33.7 34.9
Net profit margin % 25.6 27.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



MOIL LTD Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 4 billion as compared to Rs 3 billion in FY17, thereby witnessing an increase of 66.6%.
  • Current assets rose 1% and stood at Rs 26 billion, while fixed assets rose 37% and stood at Rs 6 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 32 billion as against Rs 31 billion during FY17, thereby witnessing a growth of 5%.

MOIL LTD Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 28,053 27,946 -0.4
 
Current Liabilities Rs m 2,537 4,227 66.6
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 30,904 32,364 4.7
 
Current assets Rs m 25,848 26,050 0.8
Fixed Assets Rs m 4,290 5,863 36.7
Total Assets Rs m 30,904 32,364 4.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



MOIL LTD Cash Flow Statement Analysis

  • MOIL LTD's cash flow from operating activities (CFO) during FY18 stood at Rs 5 billion, an improvement of 348.6% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -4 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -2 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -820 million from the Rs -6 billion net cash flows seen during FY17.

MOIL LTD 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 1,178 5,287 348.6%
Cash Flow from Investing Activities Rs m -5,877 -3,973 -
Cash Flow from Financing Activities Rs m -805 -2,134 -
Net Cash Flow Rs m -5,504 -820 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for MOIL LTD

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 16.2, an improvement from the EPS of Rs 15.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 166.9, stands at 9.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.8 times, while the price to sales ratio stands at 5.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 9.2 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 48.1 51.4
TTM Earnings per share Rs 15.1 16.2
Diluted earnings per share Rs 11.5 15.7
Price to Cash Flow x 9.4 9.2
TTM P/E ratio x 7.6 9.9
Price / Book Value ratio x 2.3 2.8
Market Cap Rs m 34,048 44,458
Dividends per share (Unadj.) Rs 6.0 5.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for MOIL LTD

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 6.2x during FY18, from 10.2x during FY17. The current ratio measures the company's ability to pay short-term and long-term obligations.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company improved and stood at 14.9% during FY18, from 11.0% 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 23.0% during FY18, from 16.5% 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 improved and stood at 12.9% during FY18, from 9.9% 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 10.2 6.2
Debtors’ Days Days 90 52
Interest coverage x 0.0 0.0
Debt to equity ratio x 0.0 0.0
Return on assets % 9.9 12.9
Return on equity % 11.0 14.9
Return on capital employed % 16.5 23.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how MOIL LTD has performed over the last 5 years, please visit here.

MOIL LTD Share Price Performance

Over the last one year, MOIL LTD share price has moved up from Rs 256.1 to Rs 166.9, registering a loss of Rs 89.2 or around 34.8%.

Overall, the S&P BSE SENSEX is up 4.1% over the year.

(To know more, check out historical annual results for MOIL LTD and quarterly results for MOIL LTD)

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Related Views on News

MOIL LTD Announces Quarterly Results (3QFY19); Net Profit Up 15.9% (Quarterly Result Update)

Feb 4, 2019 | Updated on Feb 4, 2019

For the quarter ended December 2018, MOIL LTD has posted a net profit of Rs 1 bn (up 15.9% YoY). Sales on the other hand came in at Rs 3 bn (up 11.0% YoY). Read on for a complete analysis of MOIL LTD's quarterly results.

MOIL LTD Announces Quarterly Results (2QFY19); Net Profit Up 13.4% (Quarterly Result Update)

Nov 6, 2018 | Updated on Nov 6, 2018

For the quarter ended September 2018, MOIL LTD has posted a net profit of Rs 1 bn (up 13.4% YoY). Sales on the other hand came in at Rs 4 bn (up 24.8% YoY). Read on for a complete analysis of MOIL LTD's quarterly results.

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