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PG ELECTROPLAST 2020-21 Annual Report Analysis
Wed, 31 Mar

PG ELECTROPLAST 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.

PG ELECTROPLAST Income Statement Analysis

  • Operating income during the year rose 10.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 42.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 6.7% in FY21 as against 5.2% in FY20.
  • Depreciation charges increased by 10.4% and finance costs increased by 24.9% YoY, respectively.
  • Other income declined by 40.6% YoY.
  • Net profit for the year grew by 344.1% YoY.
  • Net profit margins during the year grew from 0.4% in FY20 to 1.7% in FY21.

PG ELECTROPLAST Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 6,394 7,032 10.0%
Other income Rs m 73 43 -40.6%
Total Revenues Rs m 6,467 7,075 9.4%
Gross profit Rs m 331 472 42.8%
Depreciation Rs m 163 180 10.4%
Interest Rs m 148 184 24.9%
Profit before tax Rs m 93 151 62.4%
Tax Rs m 67 35 -47.6%
Profit after tax Rs m 26 116 344.1%
Gross profit margin % 5.2 6.7
Effective tax rate % 71.9 23.2
Net profit margin % 0.4 1.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Read Now: We're Bullish on 2 Non-Nifty Stocks

PG ELECTROPLAST Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 3 billion as compared to Rs 2 billion in FY20, thereby witnessing an increase of 16.1%.
  • Long-term debt stood at Rs 898 million as compared to Rs 694 million during FY20, a growth of 29.5%.
  • Current assets rose 23% and stood at Rs 3 billion, while fixed assets rose 10% and stood at Rs 3 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 6 billion as against Rs 5 billion during FY20, thereby witnessing a growth of 16%.

PG ELECTROPLAST Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 1,762 1,908 8.3
 
Current Liabilities Rs m 2,461 2,858 16.1
Long-term Debt Rs m 694 898 29.5
Total Liabilities Rs m 5,001 5,794 15.8
 
Current assets Rs m 2,307 2,830 22.7
Fixed Assets Rs m 2,695 2,964 10.0
Total Assets Rs m 5,001 5,794 15.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



PG ELECTROPLAST Cash Flow Statement Analysis

  • PG ELECTROPLAST's cash flow from operating activities (CFO) during FY21 stood at Rs 570 million, an improvement of 105.9% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -434 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -174 million on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -39 million from the Rs 76 million net cash flows seen during FY20.

PG ELECTROPLAST 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 277 570 105.9%
Cash Flow from Investing Activities Rs m -630 -434 -
Cash Flow from Financing Activities Rs m 429 -174 -
Net Cash Flow Rs m 76 -39 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for PG ELECTROPLAST

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 5.9, an improvement from the EPS of Rs 1.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 405.5, stands at 74.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.5 times, while the price to sales ratio stands at 1.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 17.6 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 327.4 357.1
TTM Earnings per share Rs 1.3 5.9
Diluted earnings per share Rs 1.2 5.5
Price to Cash Flow x 3.2 17.6
TTM P/E ratio x 7.2 74.1
Price / Book Value ratio x 0.6 2.7
Market Cap Rs m 1,080 5,211
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for PG ELECTROPLAST

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.0x during FY21, from 0.9x 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 1.8x during FY21, from 1.6x 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 improved and stood at 6.1% during FY21, from 1.5% 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 12.0% during FY21, from 9.8% 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 improved and stood at 5.2% 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 0.9 1.0
Debtors’ Days Days 578 764
Interest coverage x 1.6 1.8
Debt to equity ratio x 0.4 0.5
Return on assets % 3.5 5.2
Return on equity % 1.5 6.1
Return on capital employed % 9.8 12.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how PG ELECTROPLAST has performed over the last 5 years, please visit here.

PG ELECTROPLAST Share Price Performance

Over the last one year, PG ELECTROPLAST share price has moved up from Rs 28.3 to Rs 405.5, registering a gain of Rs 377.2 or around 1332.7%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 12,875.4 (up 1.1%). Over the last one year it has moved up from 10,254.9 to 12,875.4, a gain of 2,621 points (up 25.6%).

Overall, the S&P BSE SENSEX is up 74.1% over the year.

(To know more, check out historical annual results for PG ELECTROPLAST and quarterly results for PG ELECTROPLAST)

Annual Report FAQs

What is the current share price of PG ELECTROPLAST?

PG ELECTROPLAST currently trades at Rs 1,657.7 per share. You can check out the latest share price performance of PG ELECTROPLAST here...

What was the revenue of PG ELECTROPLAST in FY21? How does it compare to earlier years?

The revenues of PG ELECTROPLAST stood at Rs 7,075 m in FY21, which was up 9.4% compared to Rs 6,467 m reported in FY20.

PG ELECTROPLAST's revenue has grown from Rs 3,287 m in FY17 to Rs 7,075 m in FY21.

Over the past 5 years, the revenue of PG ELECTROPLAST has grown at a CAGR of 21.1%.

What was the net profit of PG ELECTROPLAST in FY21? How does it compare to earlier years?

The net profit of PG ELECTROPLAST stood at Rs 116 m in FY21, which was up 344.1% compared to Rs 26 m reported in FY20.

This compares to a net profit of Rs 99 m in FY19 and a net profit of Rs 75 m in FY18.

Over the past 5 years, PG ELECTROPLAST net profit has grown at a CAGR of 36.3%.

What does the cash flow statement of PG ELECTROPLAST 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 PG ELECTROPLAST reveals:

  • Cash flow from operations increased in FY21 and stood at Rs 570 m as compared to Rs 277 m in FY20.
  • Cash flow from investments increased in FY21 and stood at Rs -434 m as compared to Rs -630 m in FY20.
  • Cash flow from financial activity decreased in FY21 and stood at Rs -174 m as compared to Rs 429 m in FY20.

Here's the cash flow statement of PG ELECTROPLAST for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations60424190277570
From Investments-230-497-360-630-434
From Financial Activity18865191429-174
Net Cashflow18-82276-39

What does the Key Ratio analysis of PG ELECTROPLAST 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 PG ELECTROPLAST reveals:

  • Operating profit margins witnessed a fall and down at 6.7% in FY21 as against 5.2% in FY20.
  • Net profit margins grew from 0.4% in FY20 to 1.7% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.5 as compared to 0.4 in FY20.

Here's the ratio/financial analysis of PG ELECTROPLAST for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)6.46.46.05.26.7
Net Profit Margin (%)1.01.92.00.41.7
Debt to Equity Ratio (x)0.40.60.30.40.5

Read: Latest Annual Report Analysis of PG ELECTROPLAST

 

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