ORIENT BELL 2020-21 Annual Report Analysis

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

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

ORIENT BELL 2020-21 Annual Report Analysis
Wed, 10 Nov

ORIENT BELL has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

ORIENT BELL Income Statement Analysis

  • Operating income during the year rose 2.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 33.4% YoY during the fiscal. Operating profit margins witnessed a fall and down at 6.9% in FY21 as against 5.3% in FY20.
  • Depreciation charges decreased by 0.1% and finance costs decreased by 30.2% YoY, respectively.
  • Other income declined by 57.8% YoY.
  • Net profit for the year grew by 2.9% YoY.
  • Net profit margins during the year grew from 1.4% in FY20 to 1.4% in FY21.

ORIENT BELL Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 4,923 5,025 2.1%
Other income Rs m 52 22 -57.8%
Total Revenues Rs m 4,975 5,047 1.4%
Gross profit Rs m 261 348 33.4%
Depreciation Rs m 206 206 -0.1%
Interest Rs m 81 57 -30.2%
Profit before tax Rs m 26 108 309.8%
Tax Rs m -42 38 -189.4%
Profit after tax Rs m 68 70 2.9%
Gross profit margin % 5.3 6.9
Effective tax rate % -159.6 34.8
Net profit margin % 1.4 1.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



FREE REPLAY: Catch the Details of Potential Crorepati-Making Stocks Right Now...

ORIENT BELL Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 1 billion as compared to Rs 1 billion in FY20, thereby witnessing an increase of 14.2%.
  • Long-term debt down at Rs 244 million as compared to Rs 334 million during FY20, a fall of 27.0%.
  • Current assets rose 22% and stood at Rs 2 billion, while fixed assets fell 9% and stood at Rs 2 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 4 billion as against Rs 4 billion during FY20, thereby witnessing a growth of 4%.

ORIENT BELL Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 2,375 2,479 4.4
 
Current Liabilities Rs m 1,053 1,203 14.2
Long-term Debt Rs m 334 244 -27.0
Total Liabilities Rs m 4,225 4,394 4.0
 
Current assets Rs m 1,753 2,137 21.9
Fixed Assets Rs m 2,472 2,257 -8.7
Total Assets Rs m 4,225 4,394 4.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



ORIENT BELL Cash Flow Statement Analysis

  • ORIENT BELL's cash flow from operating activities (CFO) during FY21 stood at Rs 186 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs 51 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -230 million, an improvement of 62% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 6 million from the Rs 0 million net cash flows seen during FY20.

ORIENT BELL Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Mar-20 Mar-21
Cash Flow from Operating Activities Rs m 645 186 -71.2%
Cash Flow from Investing Activities Rs m -40 51 -
Cash Flow from Financing Activities Rs m -605 -230 -
Net Cash Flow Rs m 0 6 7,950.0%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for ORIENT BELL

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 4.9, an improvement from the EPS of Rs 4.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 383.8, stands at 30.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.9 times, while the price to sales ratio stands at 0.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 20.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Sales per share (Unadj.) Rs 344.7 350.2
TTM Earnings per share Rs 4.8 4.9
Diluted earnings per share Rs 4.7 4.9
Price to Cash Flow x 20.0 20.0
TTM P/E ratio x 29.9 30.2
Price / Book Value ratio x 0.7 0.9
Market Cap Rs m 5,482 5,528
Dividends per share (Unadj.) Rs 0.0 0.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for ORIENT BELL

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.8x during FY21, from 1.7x during FY20. 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 2.9x during FY21, from 1.3x during FY20. 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 2.8% during FY21, from 2.9% during FY21. 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 6.0% during FY21, from 4.0% during FY20. 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 2.9% during FY21, from 3.5% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Current ratio x 1.7 1.8
Debtors’ Days Days 645 673
Interest coverage x 1.3 2.9
Debt to equity ratio x 0.1 0.1
Return on assets % 3.5 2.9
Return on equity % 2.9 2.8
Return on capital employed % 4.0 6.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how ORIENT BELL has performed over the last 5 years, please visit here.

ORIENT BELL Share Price Performance

Over the last one year, ORIENT BELL share price has moved up from Rs 123.2 to Rs 383.8, registering a gain of Rs 260.6 or around 211.5%.

Overall, the S&P BSE SENSEX is up 41.7% over the year.

(To know more, check out historical annual results for ORIENT BELL and quarterly results for ORIENT BELL)

Equitymaster requests your view! Post a comment on "ORIENT BELL 2020-21 Annual Report Analysis". Click here!

  

Related Views on News

Sorry! There are no related views on news for this company/sector.

Most Popular

India's Best Semiconductor Stocks(Views On News)

Jan 7, 2022

Modern wars are fought with semiconductors. India's best semiconductor stocks have big tailwinds from defence and manufacturing.

10 Indian Companies with the Fastest Growth in Dividend Payouts...(Views On News)

Jan 10, 2022

These companies have been consistently paying higher dividends for several years.

Tata Steel vs SAIL: Which Stock is Better?(Views On News)

Jan 13, 2022

With government initiatives set to boost the steel sector, find out who has a better chance of coming out on top.

Watch Out for these 4 Indian Companies Betting Big on EV Supply Chain(Views On News)

Jan 11, 2022

The upside in supply chain players could be huge but a delay in the transition to EVs, or any policy related hiccups could end the momentum.

Tech Mahindra's CTC Acquisition: Too Expensive?(Views On News)

Jan 18, 2022

Tech Mahindra's acquisition of European IT-company fails to excite investors.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

TRACK ORIENT BELL

  • Track your investment in ORIENT BELL with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

ORIENT BELL 8-QTR ANALYSIS

COMPARE ORIENT BELL WITH

MARKET STATS