NOIDA TOLL BRIDGE 2017-18 Annual Report Analysis

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NOIDA TOLL BRIDGE 2017-18 Annual Report Analysis
Tue, 18 Dec

NOIDA TOLL BRIDGE 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.

NOIDA TOLL BRIDGE Income Statement Analysis

  • Operating income during the year fell 81.3% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 121.5% YoY during the fiscal. Operating profit margins witnessed a growth and stood at 58.3% in FY18 as against 50.8% in FY17.
  • Depreciation charges increased by 11.4% and finance costs increased by 18.7% YoY, respectively.
  • Other income declined by 55.4% YoY.
  • Net profit for the year declined by 2638.6% YoY.
  • Net profit margins during the year declined from 2.5% in FY17 to 327.3% in FY18.

NOIDA TOLL BRIDGE Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 870 163 -81.3%
Other income Rs m 32 14 -55.4%
Total Revenues Rs m 902 177 -80.4%
Gross profit Rs m 442 -95 -121.5%
Depreciation Rs m 380 423 11.4%
Interest Rs m 59 70 18.7%
Profit before tax Rs m 35 -574 -1,748.0%
Tax Rs m 12 5 -55.8%
Profit after tax Rs m 23 -579 -2,638.6%
Gross profit margin % 50.8 -58.3
Effective tax rate % 34.5 -0.9
Net profit margin % 2.5 -327.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



NOIDA TOLL BRIDGE Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 599 million as compared to Rs 337 million in FY17, thereby witnessing an increase of 77.4%.
  • Long-term debt down at Rs 347 million as compared to Rs 446 million during FY17, a fall of 22.1%.
  • Current assets rose 6% and stood at Rs 230 million, while fixed assets fell 6% and stood at Rs 5 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 6%.

NOIDA TOLL BRIDGE Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 4,765 4,187 -12.1
 
Current Liabilities Rs m 337 599 77.4
Long-term Debt Rs m 446 347 -22.1
Total Liabilities Rs m 5,931 5,567 -6.1
 
Current assets Rs m 217 230 6.0
Fixed Assets Rs m 5,390 5,066 -6.0
Total Assets Rs m 5,931 5,567 -6.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



NOIDA TOLL BRIDGE Cash Flow Statement Analysis

  • NOIDA TOLL BRIDGE's cash flow from operating activities (CFO) during FY18 stood at Rs -30 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 24 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 1 million, an improvement of 100% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -6 million from the Rs -258 million net cash flows seen during FY17.

NOIDA TOLL BRIDGE 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 332 -30 -
Cash Flow from Investing Activities Rs m -324 24 -
Cash Flow from Financing Activities Rs m -265 1 -
Net Cash Flow Rs m -258 -6 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for NOIDA TOLL BRIDGE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -3.1, an decline from the EPS of Rs 0.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 8.0, stands at -3.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.6 times, while the price to sales ratio stands at 14.4 times.
  • The company's price to cash flow (P/CF) ratio stood at -9.6 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 4.7 0.9
TTM Earnings per share Rs 0.1 -3.1
Diluted earnings per share Rs 0.1 -3.1
Price to Cash Flow x 3.7 -9.6
TTM P/E ratio x -3.3 -3.3
Price / Book Value ratio x 0.7 0.6
Market Cap Rs m 1,495 1,495
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 NOIDA TOLL BRIDGE

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.4x during FY18, from 0.6x 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 -7.2x during FY18, from 1.6x 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 -13.8% during FY18, from 0.5% 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 -11.1% during FY18, from 1.8% 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 -9.1% during FY18, from 1.4% 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 0.6 0.4
Debtors’ Days Days 22 162
Interest coverage x 1.6 -7.2
Debt to equity ratio x 0.1 0.1
Return on assets % 1.4 -9.1
Return on equity % 0.5 -13.8
Return on capital employed % 1.8 -11.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how NOIDA TOLL BRIDGE has performed over the last 5 years, please visit here.

NOIDA TOLL BRIDGE Share Price Performance

Over the last one year, NOIDA TOLL BRIDGE share price has moved up from Rs 12.8 to Rs 8.0, registering a loss of Rs 4.8 or around 37.5%.

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 NOIDA TOLL BRIDGE and quarterly results for NOIDA TOLL BRIDGE)

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NOIDA TOLL BRIDGE Announces Quarterly Results (1QFY20); Net Profit Down 66.6% (Quarterly Result Update)

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For the quarter ended June 2019, NOIDA TOLL BRIDGE has posted a net profit of Rs 133 m (down 66.6% YoY). Sales on the other hand came in at Rs 62 m (up 34.7% YoY). Read on for a complete analysis of NOIDA TOLL BRIDGE's quarterly results.

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