X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
MADHUCON PROJECTS 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?  

MADHUCON PROJECTS 2017-18 Annual Report Analysis
Tue, 18 Dec

MADHUCON PROJECTS 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.

MADHUCON PROJECTS Income Statement Analysis

  • Operating income during the year fell 34.3% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 93.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 2.5% in FY18 as against 23.1% in FY17.
  • Depreciation charges decreased by 7.6% and finance costs increased by 11.2% YoY, respectively.
  • Other income grew by 89.8% YoY.
  • Net profit for the year grew by 50.0% YoY.
  • Net profit margins during the year declined from 40.2% in FY17 to 89.2% in FY18.

MADHUCON PROJECTS Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 15,764 10,355 -34.3%
Other income Rs m 254 482 89.8%
Total Revenues Rs m 16,018 10,837 -32.3%
Gross profit Rs m 3,645 255 -93.0%
Depreciation Rs m 2,693 2,488 -7.6%
Interest Rs m 7,509 8,348 11.2%
Profit before tax Rs m -6,302 -10,098 60.2%
Tax Rs m 140 -437 -413.2%
Profit after tax Rs m -6,442 -9,661 50.0%
Gross profit margin % 23.1 2.5
Effective tax rate % -2.2 4.3
Net profit margin % -40.2 -89.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



MADHUCON PROJECTS Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 49 billion as compared to Rs 39 billion in FY17, thereby witnessing an increase of 23.8%.
  • Long-term debt down at Rs 45 billion as compared to Rs 48 billion during FY17, a fall of 5.2%.
  • Current assets fell 17% and stood at Rs 7 billion, while fixed assets fell 28% and stood at Rs 34 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 79 billion as against Rs 82 billion during FY17, thereby witnessing a fall of 4%.

MADHUCON PROJECTS Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m -8,218 -17,676 115.1
 
Current Liabilities Rs m 39,274 48,626 23.8
Long-term Debt Rs m 47,640 45,164 -5.2
Total Liabilities Rs m 82,294 78,920 -4.1
 
Current assets Rs m 8,688 7,169 -17.5
Fixed Assets Rs m 47,914 34,312 -28.4
Total Assets Rs m 82,294 78,920 -4.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



MADHUCON PROJECTS Cash Flow Statement Analysis

  • MADHUCON PROJECTS's cash flow from operating activities (CFO) during FY18 stood at Rs 6 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -19 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -6 billion, an improvement of 31% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -195 million from the Rs -680 million net cash flows seen during FY17.

MADHUCON PROJECTS 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 6,834 5,708 -16.5%
Cash Flow from Investing Activities Rs m 1,072 -19 -
Cash Flow from Financing Activities Rs m -8,586 -5,884 -
Net Cash Flow Rs m -680 -195 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for MADHUCON PROJECTS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -130.1, an decline from the EPS of Rs -86.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 7.1, stands at -8.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at -0.2 times, while the price to sales ratio stands at 0.3 times.
  • The company's price to cash flow (P/CF) ratio stood at -0.1 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 212.3 139.4
TTM Earnings per share Rs -86.7 -130.1
Diluted earnings per share Rs -87.3 -130.9
Price to Cash Flow x -0.1 -0.1
TTM P/E ratio x -8.9 -8.8
Price / Book Value ratio x -0.4 -0.2
Market Cap Rs m 527 523
Dividends per share (Unadj.) Rs 0.1 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for MADHUCON PROJECTS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.1x during FY18, from 0.2x 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 -0.2x during FY18, from 0.2x 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 54.7% during FY18, from 78.4% 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 -6.4% during FY18, from 3.1% 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 -1.7% during FY18, from 1.3% 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 0.2 0.1
Debtors’ Days Days 49 11
Interest coverage x 0.2 -0.2
Debt to equity ratio x -5.8 -2.6
Return on assets % 1.3 -1.7
Return on equity % 78.4 54.7
Return on capital employed % 3.1 -6.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how MADHUCON PROJECTS has performed over the last 5 years, please visit here.

MADHUCON PROJECTS Share Price Performance

Over the last one year, MADHUCON PROJECTS share price has moved up from Rs 31.0 to Rs 7.1, registering a loss of Rs 23.9 or around 77.1%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,833.2 (up 0.1%). Over the last one year it has moved down from 2,378.1 to 1,833.2, a loss of 545 points (down 22.9%).

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

(To know more, check out historical annual results for MADHUCON PROJECTS and quarterly results for MADHUCON PROJECTS)

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

  

Related Views on News

MADHUCON PROJECTS Announces Quarterly Results (3QFY19); Net Profit Down 376.7% (Quarterly Result Update)

Feb 14, 2019 | Updated on Feb 14, 2019

For the quarter ended December 2018, MADHUCON PROJECTS has posted a net profit of Rs 40 m (down 376.7% YoY). Sales on the other hand came in at Rs 2 bn (up 49.1% YoY). Read on for a complete analysis of MADHUCON PROJECTS's quarterly results.

MADHUCON PROJECTS Announces Quarterly Results (2QFY19); Net Profit Down 242.3% (Quarterly Result Update)

Nov 15, 2018 | Updated on Nov 15, 2018

For the quarter ended September 2018, MADHUCON PROJECTS has posted a net profit of Rs 48 m (down 242.3% YoY). Sales on the other hand came in at Rs 1 bn (up 26.2% YoY). Read on for a complete analysis of MADHUCON PROJECTS's quarterly results.

IRCON International IPO: Is This PSU Worth Betting On? (IPO)

Sep 17, 2018

Should you subscribe to the IPO of IRCON International Ltd?

Capacit'e Infraprojects Ltd. (IPO)

Sep 12, 2017

Should you subscribe to the IPO of Capacit'e Infraprojects Ltd?

Bharat Road Network Ltd. (IPO)

Sep 5, 2017

Should you subscribe to the IPO of Bharat Road Network Ltd?

More Views on News

Most Popular

My Master Series on How to Trade Election 2019(Profit Hunter)

Apr 16, 2019

For 30 years he has watched how elections impact the markets, and practiced how to profit from it. Now he is here...telling you everything. Read on...

Election Series: Follow the World's Biggest Traders To See Where the Money Flows(The 5 Minute Wrapup)

Apr 17, 2019

20% of all the traders bring in 80% of the money. Watch these 20% and you get a working idea of which way the wind is blowing.

The Best Trading Strategy in the World(Profit Hunter)

Apr 15, 2019

It's our great pleasure to introduce Vijay Bhambwani to our readers - we consider Vijay to be India's best trader. Read on to find out why...

A Letter to You from India's No. 1 Trader(The 5 Minute Wrapup)

Apr 15, 2019

It's our great pleasure to introduce Vijay Bhambwani to our readers - we consider Vijay to be India's best trader. Read on to find out why...

Election Series: Why 'Liquor' is so Important to the Elections(The 5 Minute Wrapup)

Apr 19, 2019

When elections come around, liquor flows like water and everyone gets drunk with power...what does this mean for liquor stocks? Read one to find out from our very own election trading analyst, Vijay Bhambwani.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK MADHUCON PROJECTS

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

MORE ON MADHUCON PROJECTS

MADHUCON PROJECTS 5-YR ANALYSIS

COMPARE MADHUCON PROJECTS WITH

MARKET STATS