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OMAX AUTOS 2018-19 Annual Report Analysis
Sun, 31 Mar

OMAX AUTOS 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.

OMAX AUTOS Income Statement Analysis

  • Operating income during the year fell 13.7% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 4.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 4.0% in FY19 as against 3.6% in FY18.
  • Depreciation charges decreased by 10.5% and finance costs decreased by 8.4% YoY, respectively.
  • Other income grew by 12.8% YoY.
  • Net profit for the year declined by 94.3% YoY.
  • Net profit margins during the year declined from 0.7% in FY18 to 0.0% in FY19.

OMAX AUTOS Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 11,492 9,916 -13.7%
Other income Rs m 113 128 12.8%
Total Revenues Rs m 11,606 10,044 -13.5%
Gross profit Rs m 418 401 -4.2%
Depreciation Rs m 219 196 -10.5%
Interest Rs m 307 281 -8.4%
Profit before tax Rs m 6 52 802.6%
Tax Rs m -71 47 -166.6%
Profit after tax Rs m 77 4 -94.3%
Gross profit margin % 3.6 4.0
Effective tax rate % -1,241.2 91.6
Net profit margin % 0.7 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Important: 3 Must Buy Stocks that You Probably Don't Own Today

OMAX AUTOS Balance Sheet Analysis

  • The company's current liabilities during FY19 down at Rs 3 billion as compared to Rs 3 billion in FY18, thereby witnessing an decrease of -5.1%.
  • Long-term debt stood at Rs 508 million as compared to Rs 428 million during FY18, a growth of 18.7%.
  • Current assets rose 5% and stood at Rs 3 billion, while fixed assets fell 6% and stood at Rs 3 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 6 billion as against Rs 6 billion during FY18, thereby witnessing a fall of 0%.

OMAX AUTOS Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 2,302 2,291 -0.5
 
Current Liabilities Rs m 3,032 2,877 -5.1
Long-term Debt Rs m 428 508 18.7
Total Liabilities Rs m 5,994 5,991 0.0
 
Current assets Rs m 3,109 3,273 5.3
Fixed Assets Rs m 2,885 2,718 -5.8
Total Assets Rs m 5,994 5,991 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



OMAX AUTOS Cash Flow Statement Analysis

  • OMAX AUTOS's cash flow from operating activities (CFO) during FY19 stood at Rs -874 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 303 million, an improvement of 78.1% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs 397 million, an improvement of 181% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -175 million from the Rs 362 million net cash flows seen during FY18.

OMAX AUTOS 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 684 -874 -
Cash Flow from Investing Activities Rs m 170 303 78.1%
Cash Flow from Financing Activities Rs m -492 397 -
Net Cash Flow Rs m 362 -175 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for OMAX AUTOS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.2, an decline from the EPS of Rs 3.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 84.5, stands at 243.8 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 0.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 14.5 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 537.3 463.6
TTM Earnings per share Rs 3.6 0.2
Diluted earnings per share Rs 3.6 0.2
Price to Cash Flow x 9.8 14.5
TTM P/E ratio x 41.5 243.8
Price / Book Value ratio x 1.3 1.3
Market Cap Rs m 2,973 2,905
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for OMAX AUTOS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.1x during FY19, from 1.0x 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 improved and stood at 1.2x during FY19, from 1.0x 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 0.2% during FY19, from 3.3% 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 improved and stood at 11.9% during FY19, from 11.4% 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 4.8% during FY19, from 6.4% 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 1.0 1.1
Debtors’ Days Days 524 477
Interest coverage x 1.0 1.2
Debt to equity ratio x 0.2 0.2
Return on assets % 6.4 4.8
Return on equity % 3.3 0.2
Return on capital employed % 11.4 11.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how OMAX AUTOS has performed over the last 5 years, please visit here.

OMAX AUTOS Share Price Performance

Over the last one year, OMAX AUTOS share price has moved down from Rs 135.7 to Rs 84.5, registering a loss of Rs 51.2 or around 37.7%.

Overall, the S&P BSE SENSEX is up 16.3% over the year.

(To know more, check out historical annual results for OMAX AUTOS and quarterly results for OMAX AUTOS)

Annual Report FAQs

What is the current share price of OMAX AUTOS?

OMAX AUTOS currently trades at Rs 0.0 per share. You can check out the latest share price performance of OMAX AUTOS here...

What was the revenue of OMAX AUTOS in FY19? How does it compare to earlier years?

The revenues of OMAX AUTOS stood at Rs 10,044 m in FY19, which was down -13.5% compared to Rs 11,606 m reported in FY18.

OMAX AUTOS' revenue has grown from Rs 9,570 m in FY15 to Rs 10,044 m in FY19.

Over the past 5 years, the revenue of OMAX AUTOS has grown at a CAGR of 1.2%.

What was the net profit of OMAX AUTOS in FY19? How does it compare to earlier years?

The net profit of OMAX AUTOS stood at Rs 4 m in FY19, which was down -94.3% compared to Rs 77 m reported in FY18.

This compares to a net loss of Rs -22 m in FY17 and a net profit of Rs 79 m in FY16.

Over the past 5 years, OMAX AUTOS net profit has grown at a CAGR of 6.9%.

What does the cash flow statement of OMAX AUTOS 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 OMAX AUTOS reveals:

  • Cash flow from operations decreased in FY19 and stood at Rs -874 m as compared to Rs 684 m in FY18.
  • Cash flow from investments increased in FY19 and stood at Rs 303 m as compared to Rs 170 m in FY18.
  • Cash flow from financial activity increased in FY19 and stood at Rs 397 m as compared to Rs -492 m in FY18.

Here's the cash flow statement of OMAX AUTOS for the past 5 years.

(Rs m)FY15FY16FY17FY18FY19
From Operations528502-214684-874
From Investments-440-127-225170303
From Financial Activity-62-357453-492397
Net Cashflow271813362-175

What does the Key Ratio analysis of OMAX AUTOS 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 OMAX AUTOS reveals:

  • Operating profit margins witnessed a fall and down at 4.0% in FY19 as against 3.6% in FY18.
  • Net profit margins declined from 0.7% in FY18 to 0.0% in FY19.
  • Debt to Equity ratio for FY19 stood at 0.2 as compared to 0.2 in FY18.

Here's the ratio/financial analysis of OMAX AUTOS for the past 5 years.

 FY15FY16FY17FY18FY19
Operating Profit Margin (%)6.05.93.63.64.0
Net Profit Margin (%)0.00.9-0.20.70.0
Debt to Equity Ratio (x)1.10.30.20.20.2

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