Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  


OPTO CIRCUITS 2017-18 Annual Report Analysis
Sat, 31 Mar

OPTO CIRCUITS 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.

OPTO CIRCUITS Income Statement Analysis

  • Operating income during the year rose 6.1% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 111.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 23.5% in FY18 as against 220.7% in FY17.
  • Depreciation charges decreased by 21.5% and finance costs decreased by 66.3% YoY, respectively.
  • Other income grew by 73.8% YoY.
  • Net profit for the year declined by 107.0% YoY.
  • Net profit margins during the year grew from 236.1% in FY17 to 15.6% in FY18.

OPTO CIRCUITS Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 2,153 2,284 6.1%
Other income Rs m 7 12 73.8%
Total Revenues Rs m 2,160 2,296 6.3%
Gross profit Rs m -4,751 536 -111.3%
Depreciation Rs m 160 126 -21.5%
Interest Rs m 171 58 -66.3%
Profit before tax Rs m -5,075 365 -107.2%
Tax Rs m 8 9 11.0%
Profit after tax Rs m -5,083 356 -107.0%
Gross profit margin % -220.7 23.5
Effective tax rate % -0.2 2.5
Net profit margin % -236.1 15.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Read Now: We're Bullish on 2 Non-Nifty Stocks

OPTO CIRCUITS Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 10 billion as compared to Rs 12 billion in FY17, thereby witnessing an decrease of -19.0%.
  • Long-term debt down at Rs 117 million as compared to Rs 438 million during FY17, a fall of 73.2%.
  • Current assets fell 51% and stood at Rs 3 billion, while fixed assets rose 6% and stood at Rs 17 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 20 billion as against Rs 22 billion during FY17, thereby witnessing a fall of 8%.

OPTO CIRCUITS Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 8,540 9,426 10.4
 
Current Liabilities Rs m 12,088 9,791 -19.0
Long-term Debt Rs m 438 117 -73.2
Total Liabilities Rs m 21,856 20,093 -8.1
 
Current assets Rs m 5,342 2,608 -51.2
Fixed Assets Rs m 16,515 17,485 5.9
Total Assets Rs m 21,856 20,093 -8.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



OPTO CIRCUITS Cash Flow Statement Analysis

  • OPTO CIRCUITS's cash flow from operating activities (CFO) during FY18 stood at Rs 696 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 39 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -707 million, an improvement of 63% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 28 million from the Rs -10 million net cash flows seen during FY17.

OPTO CIRCUITS 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 3,085 696 -77.4%
Cash Flow from Investing Activities Rs m -1,184 39 -
Cash Flow from Financing Activities Rs m -1,911 -707 -
Net Cash Flow Rs m -10 28 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for OPTO CIRCUITS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.2, an improvement from the EPS of Rs -21.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 8.0, stands at 8.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.3 times, while the price to sales ratio stands at 1.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 5.7 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 8.9 7.9
TTM Earnings per share Rs -21.0 1.2
Diluted earnings per share Rs -16.9 1.2
Price to Cash Flow x -0.6 5.7
TTM P/E ratio x -1.5 8.1
Price / Book Value ratio x 0.3 0.3
Market Cap Rs m 2,812 2,743
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for OPTO CIRCUITS

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 0.3x during FY18, from 0.4x 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 7.3x during FY18, from -28.7x 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 3.8% during FY18, from -59.5% 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 improved and stood at 4.4% during FY18, from -54.6% 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 2.1% during FY18, from -22.5% 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 0.4 0.3
Debtors’ Days Days 410,568,350 60,205,404
Interest coverage x -28.7 7.3
Debt to equity ratio x 0.1 0.0
Return on assets % -22.5 2.1
Return on equity % -59.5 3.8
Return on capital employed % -54.6 4.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how OPTO CIRCUITS has performed over the last 5 years, please visit here.

OPTO CIRCUITS Share Price Performance

Over the last one year, OPTO CIRCUITS share price has moved down from Rs 9.3 to Rs 8.0, registering a loss of Rs 1.3 or around 14.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,476.7 (down 0.1%). Over the last one year it has moved up from 0.0 to 18,476.7, a gain of 18,477 points (up 0.0%).

Overall, the S&P BSE SENSEX is up 12.1% over the year.

(To know more, check out historical annual results for OPTO CIRCUITS and quarterly results for OPTO CIRCUITS)

Annual Report FAQs

What is the current share price of OPTO CIRCUITS?

OPTO CIRCUITS currently trades at Rs 1.8 per share. You can check out the latest share price performance of OPTO CIRCUITS here...

What was the revenue of OPTO CIRCUITS in FY18? How does it compare to earlier years?

The revenues of OPTO CIRCUITS stood at Rs 2,296 m in FY18, which was up 6.3% compared to Rs 2,160 m reported in FY17.

OPTO CIRCUITS' revenue has fallen from Rs 12,119 m in FY15 to Rs 2,296 m in FY18.

Over the past 4 years, the revenue of OPTO CIRCUITS has grown at a CAGR of -42.6%.

What was the net profit of OPTO CIRCUITS in FY18? How does it compare to earlier years?

The net profit of OPTO CIRCUITS stood at Rs 356 m in FY18, which was down -107.0% compared to Rs -5,083 m reported in FY17.

This compares to a net loss of Rs -369 m in FY16 and a net loss of Rs -1,570 m in FY15.

Over the past 4 years, OPTO CIRCUITS net profit has grown at a CAGR of NaN%.

What does the cash flow statement of OPTO CIRCUITS reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of OPTO CIRCUITS reveals:

  • Cash flow from operations decreased in FY18 and stood at Rs 696 m as compared to Rs 3,085 m in FY17.
  • Cash flow from investments increased in FY18 and stood at Rs 39 m as compared to Rs -1,184 m in FY17.
  • Cash flow from financial activity increased in FY18 and stood at Rs -707 m as compared to Rs -1,911 m in FY17.

Here's the cash flow statement of OPTO CIRCUITS for the past 4 years.

(Rs m)FY15FY16FY17FY18
From Operations-1,4547,2423,085696
From Investments833-87-1,18439
From Financial Activity680-7,319-1,911-707
Net Cashflow58-164-1028

What does the Key Ratio analysis of OPTO CIRCUITS reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of OPTO CIRCUITS reveals:

  • Operating profit margins witnessed a fall and down at 23.5% in FY18 as against 220.7% in FY17.
  • Net profit margins grew from 236.1% in FY17 to 15.6% in FY18.
  • Debt to Equity ratio for FY18 stood at 0.0 as compared to 0.1 in FY17.

Here's the ratio/financial analysis of OPTO CIRCUITS for the past 4 years.

 FY15FY16FY17FY18
Operating Profit Margin (%)4.95.0-220.723.5
Net Profit Margin (%)-13.2-11.8-236.115.6
Debt to Equity Ratio (x)0.00.00.10.0

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