NAGARJUNA AGRICHEM 2018-19 Annual Report Analysis

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NAGARJUNA AGRICHEM 2018-19 Annual Report Analysis
Tue, 24 Sep

NAGARJUNA AGRICHEM 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.

NAGARJUNA AGRICHEM Income Statement Analysis

  • Operating income during the year rose 2.2% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 71.7% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 1.6% in FY19 as against 5.7% in FY18.
  • Depreciation charges increased by 2.9% and finance costs increased by 1.7% YoY, respectively.
  • Other income grew by 34.9% YoY.
  • Net profit for the year declined by 160.1% YoY.
  • Net profit margins during the year declined from 1.3% in FY18 to 0.8% in FY19.

NAGARJUNA AGRICHEM Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 8,467 8,655 2.2%
Other income Rs m 191 257 34.9%
Total Revenues Rs m 8,658 8,912 2.9%
Gross profit Rs m 486 138 -71.7%
Depreciation Rs m 198 204 2.9%
Interest Rs m 334 340 1.7%
Profit before tax Rs m 145 -149 -202.6%
Tax Rs m 39 -65 -269.4%
Profit after tax Rs m 116 -70 -160.1%
Gross profit margin % 5.7 1.6
Effective tax rate % 26.6 44.0
Net profit margin % 1.3 -0.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



NAGARJUNA AGRICHEM Balance Sheet Analysis

  • The company's current liabilities during FY19 down at Rs 4 billion as compared to Rs 4 billion in FY18, thereby witnessing an decrease of -0.1%.
  • Long-term debt down at Rs 118 million as compared to Rs 202 million during FY18, a fall of 41.8%.
  • Current assets rose 5% and stood at Rs 6 billion, while fixed assets fell 0% and stood at Rs 2 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 7 billion as against Rs 7 billion during FY18, thereby witnessing a growth of 4%.

NAGARJUNA AGRICHEM Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 2,391 2,841 18.8
 
Current Liabilities Rs m 4,317 4,313 -0.1
Long-term Debt Rs m 202 118 -41.8
Total Liabilities Rs m 7,130 7,425 4.1
 
Current assets Rs m 5,298 5,547 4.7
Fixed Assets Rs m 1,626 1,621 -0.3
Total Assets Rs m 7,130 7,425 4.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



NAGARJUNA AGRICHEM Cash Flow Statement Analysis

  • NAGARJUNA AGRICHEM's cash flow from operating activities (CFO) during FY19 stood at Rs 364 million, an improvement of 48.7% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -270 million, an improvement of 90.8% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -92 million, an improvement of 18% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 1 million from the Rs -10 million net cash flows seen during FY18.

NAGARJUNA AGRICHEM 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 245 364 48.7%
Cash Flow from Investing Activities Rs m -142 -270 -
Cash Flow from Financing Activities Rs m -113 -92 -
Net Cash Flow Rs m -10 1 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for NAGARJUNA AGRICHEM

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -0.4, an decline from the EPS of Rs 0.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 28.3, stands at -53.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.1 times, while the price to sales ratio stands at 0.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 36.6 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 54.2 51.7
TTM Earnings per share Rs 0.7 -0.4
Diluted earnings per share Rs 0.7 -0.4
Price to Cash Flow x 14.5 36.6
TTM P/E ratio x -53.6 -53.5
Price / Book Value ratio x 3.1 2.1
Market Cap Rs m 4,416 4,404
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 NAGARJUNA AGRICHEM

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.3x during FY19, from 1.2x 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 0.6x during FY19, from 1.4x 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 -2.4% during FY19, from 4.8% 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 6.9% during FY19, from 18.8% 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 3.6% during FY19, from 6.3% 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 1.2 1.3
Debtors’ Days Days 124 113
Interest coverage x 1.4 0.6
Debt to equity ratio x 0.1 0.0
Return on assets % 6.3 3.6
Return on equity % 4.8 -2.4
Return on capital employed % 18.8 6.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how NAGARJUNA AGRICHEM has performed over the last 5 years, please visit here.

NAGARJUNA AGRICHEM Share Price Performance

Over the last one year, NAGARJUNA AGRICHEM share price has moved down from Rs 28.7 to Rs 28.3, registering a loss of Rs 0.5 or around 1.6%.

Overall, the S&P BSE SENSEX is up 8.0% over the year.

(To know more, check out historical annual results for NAGARJUNA AGRICHEM and quarterly results for NAGARJUNA AGRICHEM)

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NAGARJUNA AGRICHEM Announces Quarterly Results (3QFY19); Net Profit Up 5.8% (Quarterly Result Update)

Feb 20, 2019 | Updated on Feb 20, 2019

For the quarter ended December 2018, NAGARJUNA AGRICHEM has posted a net profit of Rs 14 m (up 5.8% YoY). Sales on the other hand came in at Rs 2 bn (up 4.8% YoY). Read on for a complete analysis of NAGARJUNA AGRICHEM's quarterly results.

NAGARJUNA AGRICHEM Announces Quarterly Results (2QFY19); Net Profit Down 26.0% (Quarterly Result Update)

Nov 15, 2018 | Updated on Nov 15, 2018

For the quarter ended September 2018, NAGARJUNA AGRICHEM has posted a net profit of Rs 53 m (down 26.0% YoY). Sales on the other hand came in at Rs 3 bn (down 6.7% YoY). Read on for a complete analysis of NAGARJUNA AGRICHEM's quarterly results.

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