PENINSULA LAND 2018-19 Annual Report Analysis

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PENINSULA LAND 2018-19 Annual Report Analysis
Mon, 30 Sep

PENINSULA LAND has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

PENINSULA LAND Income Statement Analysis

  • Operating income during the year fell 34.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 225.7% YoY during the fiscal. Operating profit margins witnessed a growth and stood at 113.0% in FY19 as against 22.9% in FY18.
  • Depreciation charges decreased by 2.8% and finance costs decreased by 23.6% YoY, respectively.
  • Other income declined by 55.0% YoY.
  • Net profit for the year grew by 31.9% YoY.
  • Net profit margins during the year declined from 81.7% in FY18 to 169.1% in FY19.

PENINSULA LAND Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 4,976 3,278 -34.1%
Other income Rs m 569 256 -55.0%
Total Revenues Rs m 5,545 3,534 -36.3%
Gross profit Rs m -1,138 -3,705 225.7%
Depreciation Rs m 47 46 -2.8%
Interest Rs m 2,184 1,669 -23.6%
Profit before tax Rs m -2,799 -5,163 84.4%
Tax Rs m 38 277 624.3%
Profit after tax Rs m -4,533 -5,977 31.9%
Gross profit margin % -22.9 -113.0
Effective tax rate % -1.4 -5.4
Net profit margin % -81.7 -169.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Tomorrow at 5pm: Get the details of India's #1 defence stock

PENINSULA LAND Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 23 billion as compared to Rs 19 billion in FY18, thereby witnessing an increase of 22.5%.
  • Long-term debt down at Rs 16 billion as compared to Rs 18 billion during FY18, a fall of 12.8%.
  • Current assets fell 5% and stood at Rs 38 billion, while fixed assets fell 2% and stood at Rs 6 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 47 billion as against Rs 50 billion during FY18, thereby witnessing a fall of 6%.

PENINSULA LAND Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 10,492 4,883 -53.5
 
Current Liabilities Rs m 19,065 23,362 22.5
Long-term Debt Rs m 17,838 15,555 -12.8
Total Liabilities Rs m 49,687 46,853 -5.7
 
Current assets Rs m 39,648 37,690 -4.9
Fixed Assets Rs m 5,821 5,694 -2.2
Total Assets Rs m 49,687 46,853 -5.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



PENINSULA LAND Cash Flow Statement Analysis

  • PENINSULA LAND's cash flow from operating activities (CFO) during FY19 stood at Rs 4 billion, an improvement of 9.2% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 707 million, an improvement of 1,921.1% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -5 billion on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -67 million from the Rs -292 million net cash flows seen during FY18.

PENINSULA LAND Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 3,429 3,747 9.2%
Cash Flow from Investing Activities Rs m 35 707 1,921.1%
Cash Flow from Financing Activities Rs m -3,896 -4,521 -
Net Cash Flow Rs m -292 -67 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for PENINSULA LAND

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -21.4, an decline from the EPS of Rs -16.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 4.0, stands at -0.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.0 times, while the price to sales ratio stands at 1.4 times.
  • The company's price to cash flow (P/CF) ratio stood at -0.2 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 17.8 11.7
TTM Earnings per share Rs -16.2 -21.4
Diluted earnings per share Rs -16.2 -21.4
Price to Cash Flow x -0.2 -0.2
TTM P/E ratio x -0.2 -0.2
Price / Book Value ratio x 0.8 1.0
Market Cap Rs m 1,106 1,106
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for PENINSULA LAND

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.6x during FY19, from 2.1x during FY18. 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 -2.1x during FY19, from -0.3x during FY18. 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 -122.4% during FY19, from -43.2% during FY19. 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 -19.7% during FY19, from -8.2% during FY18. 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 -9.2% during FY19, from -4.7% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 2.1 1.6
Debtors’ Days Days 76 37
Interest coverage x -0.3 -2.1
Debt to equity ratio x 1.7 3.2
Return on assets % -4.7 -9.2
Return on equity % -43.2 -122.4
Return on capital employed % -8.2 -19.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how PENINSULA LAND has performed over the last 5 years, please visit here.

PENINSULA LAND Share Price Performance

Over the last one year, PENINSULA LAND share price has moved down from Rs 11.7 to Rs 4.0, registering a loss of Rs 7.7 or around 66.2%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,974.8 (down 1.7%). Over the last one year it has moved up from 1,702.9 to 1,974.8, a gain of 272 points (up 16.0%).

Overall, the S&P BSE SENSEX is up 6.0% over the year.

(To know more, check out historical annual results for PENINSULA LAND and quarterly results for PENINSULA LAND)

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