Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

The Big India Revival

A Once-in-a-Generation Wealth Building Opportunity
With 1,000% Long-term Gain Potential



**Important: We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
**By submitting your email address, you also sign up for Profit Hunter, a Free-for-life newsletter from Equitymaster,
which offers the most profitable investing ideas in India.


AD

APOLLO TRICOAT TUBES 2021-22 Annual Report Analysis
Fri, 9 Sep

APOLLO TRICOAT TUBES has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

APOLLO TRICOAT TUBES Income Statement Analysis

  • Operating income during the year rose 85.5% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 27.5% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 7.6% in FY22 as against 11.1% in FY21.
  • Depreciation charges increased by 15.4% and finance costs decreased by 48.9% YoY, respectively.
  • Other income grew by 33.3% YoY.
  • Net profit for the year grew by 33.0% YoY.
  • Net profit margins during the year declined from 7.1% in FY21 to 5.1% in FY22.

APOLLO TRICOAT TUBES Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 14,728 27,321 85.5%
Other income Rs m 18 24 33.3%
Total Revenues Rs m 14,746 27,345 85.4%
Gross profit Rs m 1,637 2,087 27.5%
Depreciation Rs m 165 191 15.4%
Interest Rs m 97 50 -48.9%
Profit before tax Rs m 1,393 1,870 34.3%
Tax Rs m 342 474 38.3%
Profit after tax Rs m 1,050 1,397 33.0%
Gross profit margin % 11.1 7.6
Effective tax rate % 24.6 25.3
Net profit margin % 7.1 5.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



The Big India Revival: India's Leading Analyst Tanushree Banerjee Makes Her Next Big Prediction

APOLLO TRICOAT TUBES Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 2 billion as compared to Rs 981 million in FY21, thereby witnessing an increase of 126.1%.
  • Long-term debt down at Rs 358 million as compared to Rs 490 million during FY21, a fall of 26.9%.
  • Current assets rose 81% and stood at Rs 2 billion, while fixed assets rose 42% and stood at Rs 5 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 7 billion as against Rs 5 billion during FY21, thereby witnessing a growth of 53%.

APOLLO TRICOAT TUBES Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 3,043 4,440 45.9
 
Current Liabilities Rs m 981 2,217 126.1
Long-term Debt Rs m 490 358 -26.9
Total Liabilities Rs m 4,851 7,406 52.7
 
Current assets Rs m 1,309 2,375 81.4
Fixed Assets Rs m 3,542 5,032 42.1
Total Assets Rs m 4,851 7,406 52.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



APOLLO TRICOAT TUBES Cash Flow Statement Analysis

  • APOLLO TRICOAT TUBES's cash flow from operating activities (CFO) during FY22 stood at Rs 2 billion, an improvement of 107.7% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -2 billion, an improvement of 256.2% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -182 million, an improvement of 70% on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs 433 million from the Rs 50 million net cash flows seen during FY21.

APOLLO TRICOAT TUBES Cash Flow Statement 2021-22

Particulars No. of months 12 12 % Change
Year Ending Mar-21 Mar-22
Cash Flow from Operating Activities Rs m 1,148 2,384 107.7%
Cash Flow from Investing Activities Rs m -497 -1,769 -
Cash Flow from Financing Activities Rs m -601 -182 -
Net Cash Flow Rs m 50 433 758.9%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for APOLLO TRICOAT TUBES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 23.0, an decline from the EPS of Rs 34.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 996.0, stands at 49.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 13.6 times, while the price to sales ratio stands at 2.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 46.9 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 484.5 449.4
TTM Earnings per share Rs 34.5 23.0
Diluted earnings per share Rs 17.3 23.0
Price to Cash Flow x 60.0 46.9
TTM P/E ratio x 103.2 49.4
Price / Book Value ratio x 7.3 16.8
Market Cap Rs m 22,139 74,510
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for APOLLO TRICOAT TUBES

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.1x during FY22, from 1.3x during FY21. 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 38.7x during FY22, from 15.4x during FY21. 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 31.5% during FY22, from 34.5% during FY22. 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 40.0% during FY22, from 42.2% during FY21. 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 19.5% during FY22, from 23.6% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 1.3 1.1
Debtors’ Days Days 0 0
Interest coverage x 15.4 38.7
Debt to equity ratio x 0.2 0.1
Return on assets % 23.6 19.5
Return on equity % 34.5 31.5
Return on capital employed % 42.2 40.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how APOLLO TRICOAT TUBES has performed over the last 5 years, please visit here.

APOLLO TRICOAT TUBES Share Price Performance

Over the last one year, APOLLO TRICOAT TUBES share price has moved down from Rs 1,745.7 to Rs 996.0, registering a loss of Rs 749.7 or around 42.9%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 19,085.2 (up 0.2%). Over the last one year it has moved down from 20,704.0 to 19,085.2, a loss of 1,619 points (down 7.8%).

Overall, the S&P BSE SENSEX is up 2.7% over the year.

(To know more, check out historical annual results for APOLLO TRICOAT TUBES and quarterly results for APOLLO TRICOAT TUBES)

Annual Report FAQs

What is the current share price of APOLLO TRICOAT TUBES?

APOLLO TRICOAT TUBES currently trades at Rs 0.0 per share. You can check out the latest share price performance of APOLLO TRICOAT TUBES here...

What was the revenue of APOLLO TRICOAT TUBES in FY22? How does it compare to earlier years?

The revenues of APOLLO TRICOAT TUBES stood at Rs 27,345 m in FY22, which was up 85.4% compared to Rs 14,746 m reported in FY21.

APOLLO TRICOAT TUBES' revenue has grown from Rs 1,914 m in FY18 to Rs 27,345 m in FY22.

Over the past 5 years, the revenue of APOLLO TRICOAT TUBES has grown at a CAGR of 94.4%.

What was the net profit of APOLLO TRICOAT TUBES in FY22? How does it compare to earlier years?

The net profit of APOLLO TRICOAT TUBES stood at Rs 1,397 m in FY22, which was up 33.0% compared to Rs 1,050 m reported in FY21.

This compares to a net profit of Rs 423 m in FY20 and a net profit of Rs 26 m in FY19.

Over the past 5 years, APOLLO TRICOAT TUBES net profit has grown at a CAGR of 111.5%.

What does the cash flow statement of APOLLO TRICOAT TUBES 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 APOLLO TRICOAT TUBES reveals:

  • Cash flow from operations increased in FY22 and stood at Rs 2,384 m as compared to Rs 1,148 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -1,769 m as compared to Rs -497 m in FY21.
  • Cash flow from financial activity increased in FY22 and stood at Rs -182 m as compared to Rs -601 m in FY21.

Here's the cash flow statement of APOLLO TRICOAT TUBES for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations-5364786321,1482,384
From Investments-68-1,279-1,341-497-1,769
From Financial Activity672725756-601-182
Net Cashflow68-764750433

What does the Key Ratio analysis of APOLLO TRICOAT TUBES 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 APOLLO TRICOAT TUBES reveals:

  • Operating profit margins witnessed a fall and stood at 7.6% in FY22 as against 11.1% in FY21.
  • Net profit margins declined from 7.1% in FY21 to 5.1% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.1 as compared to 0.2 in FY21.

Here's the ratio/financial analysis of APOLLO TRICOAT TUBES for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)6.1-0.311.211.17.6
Net Profit Margin (%)3.737.06.47.15.1
Debt to Equity Ratio (x)0.00.20.50.20.1

Equitymaster requests your view! Post a comment on "APOLLO TRICOAT TUBES 2021-22 Annual Report Analysis". Click here!