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PARSVNATH DEV 2017-18 Annual Report Analysis

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Markets will remain closed on 19th April, 2019 on account of Good Friday.

PARSVNATH DEV 2017-18 Annual Report Analysis
Tue, 18 Dec

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 48.6% in FY17 to 154.2% 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 728 -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 -3,239 117.6%
Gross profit margin % 26.1 -11.1
Effective tax rate % 7.6 9.9
Net profit margin % -48.6 -154.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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 rose 6% and stood at Rs 13 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 84 billion as against Rs 80 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 79,564 83,903 5.5
 
Current assets Rs m 48,375 52,459 8.4
Fixed Assets Rs m 12,218 12,949 6.0
Total Assets Rs m 79,564 83,903 5.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, 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: Company Reports, Regulatory Filings, 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 7.4, stands at -3.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.5 times, while the price to sales ratio stands at 5.2 times.
  • The company's price to cash flow (P/CF) ratio stood at -1.1 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 -2.7 -1.1
TTM P/E ratio x -3.1 -3.1
Price / Book Value ratio x 0.3 0.5
Market Cap Rs m 3,238 3,238
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for PARSVNATH DEV

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved 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 825 1,197
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: Company Reports, Regulatory Filings, 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 28.1 to Rs 7.4, registering a loss of Rs 20.7 or around 73.5%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,833.2 (up 0.1%). Over the last one year it has moved down from 2,378.1 to 1,833.2, a loss of 545 points (down 22.9%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

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

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PARSVNATH DEV Announces Quarterly Results (3QFY19); Net Profit Up 1.7% (Quarterly Result Update)

Feb 20, 2019 | Updated on Feb 20, 2019

For the quarter ended December 2018, PARSVNATH DEV has posted a net profit of Rs 275 m (up 1.7% YoY). Sales on the other hand came in at Rs 207 m (up 5.1% YoY). Read on for a complete analysis of PARSVNATH DEV's quarterly results.

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