X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
PAGE INDUSTRIES 2017-18 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?  

PAGE INDUSTRIES 2017-18 Annual Report Analysis
Fri, 21 Dec

PAGE INDUSTRIES 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.

PAGE INDUSTRIES Income Statement Analysis

  • Operating income during the year rose 19.9% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 30.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 21.2% in FY18 as against 19.4% in FY17.
  • Depreciation charges increased by 13.2% and finance costs decreased by 7.7% YoY, respectively.
  • Other income declined by 11.8% YoY.
  • Net profit for the year grew by 30.3% YoY.
  • Net profit margins during the year grew from 12.4% in FY17 to 13.5% in FY18.

PAGE INDUSTRIES Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 21,285 25,514 19.9%
Other income Rs m 243 215 -11.8%
Total Revenues Rs m 21,529 25,728 19.5%
Gross profit Rs m 4,132 5,407 30.8%
Depreciation Rs m 247 280 13.2%
Interest Rs m 180 166 -7.7%
Profit before tax Rs m 3,948 5,175 31.1%
Tax Rs m 1,285 1,705 32.7%
Profit after tax Rs m 2,663 3,470 30.3%
Gross profit margin % 19.4 21.2
Effective tax rate % 32.6 33.0
Net profit margin % 12.4 13.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



PAGE INDUSTRIES Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 5 billion as compared to Rs 4 billion in FY17, thereby witnessing an increase of 19.4%.
  • Long-term debt down at Rs 326 million as compared to Rs 398 million during FY17, a fall of 18.0%.
  • Current assets rose 27% and stood at Rs 11 billion, while fixed assets rose 14% and stood at Rs 3 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 14 billion as against Rs 12 billion during FY17, thereby witnessing a growth of 22%.

PAGE INDUSTRIES Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 6,658 8,473 27.3
 
Current Liabilities Rs m 4,258 5,084 19.4
Long-term Debt Rs m 398 326 -18.0
Total Liabilities Rs m 11,541 14,124 22.4
 
Current assets Rs m 8,332 10,550 26.6
Fixed Assets Rs m 2,602 2,965 13.9
Total Assets Rs m 11,541 14,124 22.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



PAGE INDUSTRIES Cash Flow Statement Analysis

  • PAGE INDUSTRIES's cash flow from operating activities (CFO) during FY18 stood at Rs 5 billion, an improvement of 66.1% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -2 billion, an improvement of 123.0% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -2 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 163 million from the Rs 119 million net cash flows seen during FY17.

PAGE INDUSTRIES 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 2,736 4,546 66.1%
Cash Flow from Investing Activities Rs m -1,076 -2,399 -
Cash Flow from Financing Activities Rs m -1,541 -1,984 -
Net Cash Flow Rs m 119 163 36.6%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for PAGE INDUSTRIES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 311.2, an improvement from the EPS of Rs 238.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 25,128.5, stands at 71.0 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 25.9 times, while the price to sales ratio stands at 8.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 74.7 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 1,909.0 2,288.2
TTM Earnings per share Rs 238.8 311.2
Diluted earnings per share Rs 238.8 311.2
Price to Cash Flow x 96.3 74.7
TTM P/E ratio x 71.0 71.0
Price / Book Value ratio x 24.4 25.9
Market Cap Rs m 280,183 280,183
Dividends per share (Unadj.) Rs 97.0 131.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for PAGE INDUSTRIES

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.1x during FY18, from 2.0x 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 32.1x during FY18, from 22.9x 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 41.0% during FY18, from 40.0% 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 60.7% during FY18, from 58.5% 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 25.7% during FY18, from 24.6% 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 2.0 2.1
Debtors’ Days Days 19 21
Interest coverage x 22.9 32.1
Debt to equity ratio x 0.1 0.0
Return on assets % 24.6 25.7
Return on equity % 40.0 41.0
Return on capital employed % 58.5 60.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how PAGE INDUSTRIES has performed over the last 5 years, please visit here.

PAGE INDUSTRIES Share Price Performance

Over the last one year, PAGE INDUSTRIES share price has moved up from Rs 24,750.2 to Rs 25,128.5, registering a gain of Rs 378.4 or around 1.5%.

Overall, the S&P BSE SENSEX is up 7.8% over the year.

(To know more, check out historical annual results for PAGE INDUSTRIES and quarterly results for PAGE INDUSTRIES)

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

  

Related Views on News

PAGE INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Up 22.2% (Quarterly Result Update)

Feb 25, 2019 | Updated on Feb 25, 2019

For the quarter ended December 2018, PAGE INDUSTRIES has posted a net profit of Rs 1 bn (up 22.2% YoY). Sales on the other hand came in at Rs 7 bn (up 18.9% YoY). Read on for a complete analysis of PAGE INDUSTRIES's quarterly results.

PAGE INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Up 10.2% (Quarterly Result Update)

Nov 15, 2018 | Updated on Nov 15, 2018

For the quarter ended September 2018, PAGE INDUSTRIES has posted a net profit of Rs 926 m (up 10.2% YoY). Sales on the other hand came in at Rs 7 bn (up 10.1% YoY). Read on for a complete analysis of PAGE INDUSTRIES's quarterly results.

What They Forgot to Tell You About Sensex at One Lakh (Profit Hunter)

Nov 29, 2017

Stocks that could beat Sensex returns in the long term.

More Views on News

Most Popular

Stocks that Could Be Out of Reach Post Elections(The 5 Minute Wrapup)

Apr 9, 2019

It's a matter of time before the stocks catch the fancy of the markets and big investors.

3 Indian Stocks with Amazon-Like Potential(Profit Hunter)

Apr 10, 2019

We have identified 3 stocks with huge wealth building potential which meet our 'Click of a Button' criteria.

This Company is Making a Big Comeback and You Can Now Profit from Its Example(The 5 Minute Wrapup)

Apr 10, 2019

How Dell got its mojo back.

This is Why the Stock of Jubilant FoodWorks Went Up 1,160%(The 5 Minute Wrapup)

Apr 12, 2019

This critical business strategy has enabled companies to scale their operations faster.

Pocketing Massive Gains with HDFC And HDFC Bank(Profit Hunter)

Apr 12, 2019

Here's how one could have generated gains of Rs 59,250 in 10 days by trading HDFC and HDFC Bank with a capital of Rs 4 lakh.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK PAGE INDUSTRIES

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

MORE ON PAGE INDUSTRIES

PAGE INDUSTRIES 8-QTR ANALYSIS

COMPARE PAGE INDUSTRIES WITH

MARKET STATS