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PONNI SUGARS ERO. 2021-22 Annual Report Analysis
Wed, 29 Jun

PONNI SUGARS ERO. 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.

PONNI SUGARS ERO. Income Statement Analysis

  • Operating income during the year rose 12.5% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 18.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 12.3% in FY22 as against 11.8% in FY21.
  • Depreciation charges decreased by 11.9% and finance costs decreased by 77.8% YoY, respectively.
  • Other income grew by 10.3% YoY.
  • Net profit for the year grew by 14.0% YoY.
  • Net profit margins during the year grew from 10.0% in FY21 to 10.1% in FY22.

PONNI SUGARS ERO. Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 2,562 2,884 12.5%
Other income Rs m 63 70 10.3%
Total Revenues Rs m 2,626 2,953 12.5%
Gross profit Rs m 301 356 18.1%
Depreciation Rs m 73 64 -11.9%
Interest Rs m 5 1 -77.8%
Profit before tax Rs m 286 360 25.8%
Tax Rs m 29 67 129.4%
Profit after tax Rs m 257 293 14.0%
Gross profit margin % 11.8 12.3
Effective tax rate % 10.2 18.7
Net profit margin % 10.0 10.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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PONNI SUGARS ERO. Balance Sheet Analysis

  • The company's current liabilities during FY22 down at Rs 403 million as compared to Rs 431 million in FY21, thereby witnessing an decrease of -6.5%.
  • Current assets rose 11% and stood at Rs 1 billion, while fixed assets rose 12% and stood at Rs 3 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 4 billion as against Rs 4 billion during FY21, thereby witnessing a growth of 11%.

PONNI SUGARS ERO. Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 3,264 3,685 12.9
 
Current Liabilities Rs m 431 403 -6.5
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 3,760 4,186 11.3
 
Current assets Rs m 1,194 1,323 10.8
Fixed Assets Rs m 2,566 2,863 11.6
Total Assets Rs m 3,760 4,186 11.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



PONNI SUGARS ERO. Cash Flow Statement Analysis

  • PONNI SUGARS ERO.'s cash flow from operating activities (CFO) during FY22 stood at Rs 109 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -129 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -44 million, an improvement of 82% on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs -64 million from the Rs 71 million net cash flows seen during FY21.

PONNI SUGARS ERO. 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 288 109 -62.2%
Cash Flow from Investing Activities Rs m 25 -129 -
Cash Flow from Financing Activities Rs m -242 -44 -
Net Cash Flow Rs m 71 -64 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for PONNI SUGARS ERO.

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 34.0, an improvement from the EPS of Rs 29.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 247.7, stands at 7.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.6 times, while the price to sales ratio stands at 0.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 6.2 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 297.9 335.3
TTM Earnings per share Rs 29.8 34.0
Diluted earnings per share Rs 29.8 34.0
Price to Cash Flow x 3.9 6.2
TTM P/E ratio x 4.9 7.3
Price / Book Value ratio x 0.4 0.6
Market Cap Rs m 1,293 2,208
Dividends per share (Unadj.) Rs 5.0 5.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for PONNI SUGARS ERO.

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 3.3x during FY22, from 2.8x 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 300.8x during FY22, from 53.9x 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 improved and stood at 7.9% during FY22, from 7.9% 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 improved and stood at 9.8% during FY22, from 8.9% 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 improved and stood at 7.0% during FY22, from 7.0% 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 2.8 3.3
Debtors’ Days Days 583 575
Interest coverage x 53.9 300.8
Debt to equity ratio x 0.0 0.0
Return on assets % 7.0 7.0
Return on equity % 7.9 7.9
Return on capital employed % 8.9 9.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how PONNI SUGARS ERO. has performed over the last 5 years, please visit here.

PONNI SUGARS ERO. Share Price Performance

Over the last one year, PONNI SUGARS ERO. share price has moved down from Rs 349.3 to Rs 247.7, registering a loss of Rs 101.6 or around 29.1%.

Overall, the S&P BSE SENSEX is up 0.6% over the year.

(To know more, check out historical annual results for PONNI SUGARS ERO. and quarterly results for PONNI SUGARS ERO.)

Annual Report FAQs

What is the current share price of PONNI SUGARS ERO.?

PONNI SUGARS ERO. currently trades at Rs 247.5 per share. You can check out the latest share price performance of PONNI SUGARS ERO. here...

What was the revenue of PONNI SUGARS ERO. in FY22? How does it compare to earlier years?

The revenues of PONNI SUGARS ERO. stood at Rs 2,953 m in FY22, which was up 12.5% compared to Rs 2,626 m reported in FY21.

PONNI SUGARS ERO.'s revenue has grown from Rs 1,986 m in FY18 to Rs 2,953 m in FY22.

Over the past 5 years, the revenue of PONNI SUGARS ERO. has grown at a CAGR of 10.4%.

What was the net profit of PONNI SUGARS ERO. in FY22? How does it compare to earlier years?

The net profit of PONNI SUGARS ERO. stood at Rs 293 m in FY22, which was up 14.0% compared to Rs 257 m reported in FY21.

This compares to a net profit of Rs 309 m in FY20 and a net profit of Rs 84 m in FY19.

Over the past 5 years, PONNI SUGARS ERO. net profit has grown at a CAGR of 72.0%.

What does the cash flow statement of PONNI SUGARS ERO. 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 PONNI SUGARS ERO. reveals:

  • Cash flow from operations decreased in FY22 and stood at Rs 109 m as compared to Rs 288 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -129 m as compared to Rs 25 m in FY21.
  • Cash flow from financial activity increased in FY22 and stood at Rs -44 m as compared to Rs -242 m in FY21.

Here's the cash flow statement of PONNI SUGARS ERO. for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations505-224156288109
From Investments-55221025-129
From Financial Activity-465231-194-242-44
Net Cashflow-1430-2971-64

What does the Key Ratio analysis of PONNI SUGARS ERO. 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 PONNI SUGARS ERO. reveals:

  • Operating profit margins witnessed a fall and down at 12.3% in FY22 as against 11.8% in FY21.
  • Net profit margins grew from 10.0% in FY21 to 10.1% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.0 as compared to 0.0 in FY21.

Here's the ratio/financial analysis of PONNI SUGARS ERO. for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)4.59.913.511.812.3
Net Profit Margin (%)1.74.610.010.010.1
Debt to Equity Ratio (x)0.00.00.00.00.0

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