NAVA BHARAT VENTURES 2017-18 Annual Report Analysis

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NAVA BHARAT VENTURES 2017-18 Annual Report Analysis
Tue, 26 Mar

NAVA BHARAT VENTURES 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.

NAVA BHARAT VENTURES Income Statement Analysis

  • Operating income during the year rose 69.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 357.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 33.8% in FY18 as against 12.5% in FY17.
  • Depreciation charges increased by 152.7% and finance costs increased by 241.3% YoY, respectively.
  • Other income declined by 0.0% YoY.
  • Net profit for the year grew by 199.4% YoY.
  • Net profit margins during the year grew from 6.4% in FY17 to 11.5% in FY18.

NAVA BHARAT VENTURES Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 13,867 23,478 69.3%
Other income Rs m 694 694 0.0%
Total Revenues Rs m 14,561 24,172 66.0%
Gross profit Rs m 1,735 7,930 357.0%
Depreciation Rs m 904 2,284 152.7%
Interest Rs m 722 2,463 241.3%
Profit before tax Rs m 804 3,876 382.4%
Tax Rs m 661 1,096 65.9%
Profit after tax Rs m 929 2,780 199.4%
Gross profit margin % 12.5 33.8
Effective tax rate % 82.3 28.3
Net profit margin % 6.4 11.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



NAVA BHARAT VENTURES Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 11 billion as compared to Rs 12 billion in FY17, thereby witnessing an decrease of -0.9%.
  • Long-term debt down at Rs 33 billion as compared to Rs 36 billion during FY17, a fall of 7.1%.
  • Current assets fell 7% and stood at Rs 19 billion, while fixed assets rose 1% and stood at Rs 58 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 82 billion as against Rs 84 billion during FY17, thereby witnessing a fall of 2%.

NAVA BHARAT VENTURES Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 31,622 33,847 7.0
 
Current Liabilities Rs m 11,568 11,468 -0.9
Long-term Debt Rs m 35,764 33,239 -7.1
Total Liabilities Rs m 84,408 82,311 -2.5
 
Current assets Rs m 19,938 18,532 -7.0
Fixed Assets Rs m 57,531 57,858 0.6
Total Assets Rs m 84,408 82,311 -2.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



NAVA BHARAT VENTURES Cash Flow Statement Analysis

  • NAVA BHARAT VENTURES's cash flow from operating activities (CFO) during FY18 stood at Rs 2 billion, an improvement of 416.3% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -8 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -3 billion from the Rs -30 million net cash flows seen during FY17.

NAVA BHARAT VENTURES 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 389 2,008 416.3%
Cash Flow from Investing Activities Rs m -6,781 2,661 -
Cash Flow from Financing Activities Rs m 6,476 -8,131 -
Net Cash Flow Rs m -30 -3,449 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for NAVA BHARAT VENTURES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 15.6, an improvement from the EPS of Rs 5.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 103.2, stands at 3.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.8 times, while the price to sales ratio stands at 1.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 3.6 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 77.7 131.5
TTM Earnings per share Rs 5.2 15.6
Diluted earnings per share Rs 5.2 15.6
Price to Cash Flow x 10.1 3.6
TTM P/E ratio x 3.1 3.1
Price / Book Value ratio x 1.0 0.8
Market Cap Rs m 18,429 18,429
Dividends per share (Unadj.) Rs 1.0 1.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for NAVA BHARAT VENTURES

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.6x during FY18, from 1.7x 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 2.6x during FY18, from 2.1x 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 improved and stood at 8.2% during FY18, from 2.9% 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 9.4% during FY18, from 3.4% 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 6.4% during FY18, from 2.0% 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 1.7 1.6
Debtors’ Days Days 44 113
Interest coverage x 2.1 2.6
Debt to equity ratio x 1.1 1.0
Return on assets % 2.0 6.4
Return on equity % 2.9 8.2
Return on capital employed % 3.4 9.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how NAVA BHARAT VENTURES has performed over the last 5 years, please visit here.

NAVA BHARAT VENTURES Share Price Performance

Over the last one year, NAVA BHARAT VENTURES share price has moved up from Rs 134.5 to Rs 103.2, registering a loss of Rs 31.3 or around 23.3%.

Overall, the S&P BSE SENSEX is up 14.7% over the year.

(To know more, check out historical annual results for NAVA BHARAT VENTURES and quarterly results for NAVA BHARAT VENTURES)

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Related Views on News

NAVA BHARAT VENTURES Announces Quarterly Results (2QFY20); Net Profit Down 29.4% (Quarterly Result Update)

Nov 5, 2019 | Updated on Nov 5, 2019

For the quarter ended September 2019, NAVA BHARAT VENTURES has posted a net profit of Rs 991 m (down 29.4% YoY). Sales on the other hand came in at Rs 7 bn (down 11.4% YoY). Read on for a complete analysis of NAVA BHARAT VENTURES's quarterly results.

NAVA BHARAT VENTURES Announces Quarterly Results (4QFY19); Net Profit Down 62.8% (Quarterly Result Update)

Jun 3, 2019 | Updated on Jun 3, 2019

For the quarter ended March 2019, NAVA BHARAT VENTURES has posted a net profit of Rs 790 m (down 62.8% YoY). Sales on the other hand came in at Rs 8 bn (down 12.6% YoY). Read on for a complete analysis of NAVA BHARAT VENTURES's quarterly results.

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