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PARSVNATH DEV 2017-18 Annual Report Analysis
Sat, 31 Mar

PARSVNATH DEV 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.

PARSVNATH DEV Income Statement Analysis

  • Operating income during the year fell 30.6% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 129.6% YoY during the fiscal. Operating profit margins witnessed a growth and stood at 11.1% in FY18 as against 26.1% in FY17.
  • Depreciation charges increased by 8.2% and finance costs increased by 38.8% YoY, respectively.
  • Other income declined by 40.6% YoY.
  • Net profit for the year grew by 117.6% YoY.
  • Net profit margins during the year declined from 53.4% in FY17 to 167.3% in FY18.

PARSVNATH DEV Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 2,789 1,937 -30.6%
Other income Rs m 276 164 -40.6%
Total Revenues Rs m 3,065 2,101 -31.5%
Gross profit Rs m 727 -216 -129.6%
Depreciation Rs m 279 302 8.2%
Interest Rs m 2,336 3,241 38.8%
Profit before tax Rs m -1,611 -3,595 123.1%
Tax Rs m -122 -356 190.6%
Profit after tax Rs m -1,489 -3,240 117.6%
Gross profit margin % 26.1 -11.1
Effective tax rate % 7.6 9.9
Net profit margin % -53.4 -167.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

PARSVNATH DEV Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 28 billion as compared to Rs 20 billion in FY17, thereby witnessing an increase of 40.8%.
  • Long-term debt down at Rs 32 billion as compared to Rs 33 billion during FY17, a fall of 2.0%.
  • Current assets rose 8% and stood at Rs 52 billion, while fixed assets fell 0% and stood at Rs 30 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 83 billion as against Rs 79 billion during FY17, thereby witnessing a growth of 5%.

PARSVNATH DEV Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 24,822 21,650 -12.8
 
Current Liabilities Rs m 19,780 27,851 40.8
Long-term Debt Rs m 32,565 31,923 -2.0
Total Liabilities Rs m 78,581 82,561 5.1
 
Current assets Rs m 48,375 52,459 8.4
Fixed Assets Rs m 30,206 30,101 -0.3
Total Assets Rs m 78,581 82,561 5.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



PARSVNATH DEV Cash Flow Statement Analysis

  • PARSVNATH DEV's cash flow from operating activities (CFO) during FY18 stood at Rs 846 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -905 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 3 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -56 million from the Rs -234 million net cash flows seen during FY17.

PARSVNATH DEV 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 -3,317 846 -
Cash Flow from Investing Activities Rs m -1,521 -905 -
Cash Flow from Financing Activities Rs m 4,605 3 -99.9%
Net Cash Flow Rs m -234 -56 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for PARSVNATH DEV

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -7.4, an decline from the EPS of Rs -3.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 15.0, stands at -5.6 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 3.4 times.
  • The company's price to cash flow (P/CF) ratio stood at -3.4 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 6.4 4.5
TTM Earnings per share Rs -3.4 -7.4
Diluted earnings per share Rs -3.4 -7.4
Price to Cash Flow x -4.4 -3.4
TTM P/E ratio x -15.4 -5.6
Price / Book Value ratio x 0.3 0.5
Market Cap Rs m 7,768 9,987
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for PARSVNATH DEV

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.9x during FY18, from 2.4x 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 deteriorated and stood at -0.1x during FY18, from 0.3x 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 declined and down at -15.0% during FY18, from -6.0% 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 declined and down at -0.7% during FY18, from 1.3% 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 declined and down at 0.0% during FY18, from 1.1% 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 2.4 1.9
Debtors’ Days Days 8,250 11,974
Interest coverage x 0.3 -0.1
Debt to equity ratio x 1.3 1.5
Return on assets % 1.1 0.0
Return on equity % -6.0 -15.0
Return on capital employed % 1.3 -0.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how PARSVNATH DEV has performed over the last 5 years, please visit here.

PARSVNATH DEV Share Price Performance

Over the last one year, PARSVNATH DEV share price has moved up from Rs 12.3 to Rs 15.0, registering a gain of Rs 2.7 or around 21.6%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,229.9 (down 1.1%). Over the last one year it has moved up from 1,600.0 to 2,229.9, a gain of 630 points (up 39.4%).

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

(To know more, check out historical annual results for PARSVNATH DEV and quarterly results for PARSVNATH DEV)

Annual Report FAQs

What is the current share price of PARSVNATH DEV?

PARSVNATH DEV currently trades at Rs 15.0 per share. You can check out the latest share price performance of PARSVNATH DEV here...

What was the revenue of PARSVNATH DEV in FY18? How does it compare to earlier years?

The revenues of PARSVNATH DEV stood at Rs 2,101 m in FY18, which was down -31.5% compared to Rs 3,065 m reported in FY17.

PARSVNATH DEV's revenue has fallen from Rs 4,415 m in FY16 to Rs 2,101 m in FY18.

Over the past 3 years, the revenue of PARSVNATH DEV has grown at a CAGR of -31.0%.

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

The net loss of PARSVNATH DEV stood at Rs -3,240 m in FY18, which was up 117.6% compared to Rs -1,489 m reported in FY17.

This compares to a net loss of Rs -494 m in FY16.

Over the past 3 years, PARSVNATH DEV net profit has grown at a CAGR of 156.1%.

What does the cash flow statement of PARSVNATH DEV 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 PARSVNATH DEV reveals:

  • Cash flow from operations increased in FY18 and stood at Rs 846 m as compared to Rs -3,317 m in FY17.
  • Cash flow from investments increased in FY18 and stood at Rs -905 m as compared to Rs -1,521 m in FY17.
  • Cash flow from financial activity decreased in FY18 and stood at Rs 3 m as compared to Rs 4,605 m in FY17.

Here's the cash flow statement of PARSVNATH DEV for the past 3 years.

(Rs m)FY16FY17FY18
From Operations-316-3,317846
From Investments-480-1,521-905
From Financial Activity-6944,6053
Net Cashflow-1,490-234-56

What does the Key Ratio analysis of PARSVNATH DEV 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 PARSVNATH DEV reveals:

  • Operating profit margins witnessed a growth and stood at 11.1% in FY18 as against 26.1% in FY17.
  • Net profit margins declined from 53.4% in FY17 to 167.3% in FY18.
  • Debt to Equity ratio for FY18 stood at 1.5 as compared to 1.3 in FY17.

Here's the ratio/financial analysis of PARSVNATH DEV for the past 3 years.

 FY16FY17FY18
Operating Profit Margin (%)21.926.1-11.1
Net Profit Margin (%)-12.2-53.4-167.3
Debt to Equity Ratio (x)1.01.31.5

Read: Latest Annual Report Analysis of PARSVNATH DEV

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