NAVIN FLUORINE 2020-21 Annual Report Analysis

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NAVIN FLUORINE 2020-21 Annual Report Analysis
Tue, 19 Oct

NAVIN FLUORINE 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.

NAVIN FLUORINE Income Statement Analysis

  • Operating income during the year rose 11.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 23.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 27.5% in FY21 as against 24.8% in FY20.
  • Depreciation charges increased by 19.4% and finance costs decreased by 8.2% YoY, respectively.
  • Other income grew by 137.2% YoY.
  • Net profit for the year declined by 38.4% YoY.
  • Net profit margins during the year declined from 36.7% in FY20 to 19.6% in FY21.

NAVIN FLUORINE Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 10,616 11,794 11.1%
Other income Rs m 333 790 137.2%
Total Revenues Rs m 10,949 12,584 14.9%
Gross profit Rs m 2,635 3,248 23.3%
Depreciation Rs m 370 442 19.4%
Interest Rs m 20 18 -8.2%
Profit before tax Rs m 2,578 3,578 38.8%
Tax Rs m -1,436 1,108 -177.2%
Profit after tax Rs m 4,014 2,471 -38.4%
Gross profit margin % 24.8 27.5
Effective tax rate % -55.7 31.0
Net profit margin % 36.7 19.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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NAVIN FLUORINE Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 2 billion as compared to Rs 2 billion in FY20, thereby witnessing an increase of 14.0%.
  • Current assets rose 54% and stood at Rs 12 billion, while fixed assets fell 19% and stood at Rs 10 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 22 billion as against Rs 20 billion during FY20, thereby witnessing a growth of 9%.

NAVIN FLUORINE Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 14,095 16,315 15.8
 
Current Liabilities Rs m 1,772 2,020 14.0
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 19,971 21,834 9.3
 
Current assets Rs m 7,777 11,947 53.6
Fixed Assets Rs m 12,194 9,887 -18.9
Total Assets Rs m 19,971 21,834 9.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



NAVIN FLUORINE Cash Flow Statement Analysis

  • NAVIN FLUORINE's cash flow from operating activities (CFO) during FY21 stood at Rs 2 billion, an improvement of 51.5% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -2 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -451 million, an improvement of 44% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -449 million from the Rs 2 billion net cash flows seen during FY20.

NAVIN FLUORINE 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 1,566 2,373 51.5%
Cash Flow from Investing Activities Rs m 851 -2,371 -
Cash Flow from Financing Activities Rs m -809 -451 -
Net Cash Flow Rs m 1,609 -449 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for NAVIN FLUORINE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 49.9, an decline from the EPS of Rs 81.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 3,936.1, stands at 77.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 6.3 times, while the price to sales ratio stands at 8.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 66.9 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 214.5 238.3
TTM Earnings per share Rs 81.1 49.9
Diluted earnings per share Rs 81.1 49.9
Price to Cash Flow x 44.4 66.9
TTM P/E ratio x 77.9 77.9
Price / Book Value ratio x 3.9 6.3
Market Cap Rs m 194,773 194,866
Dividends per share (Unadj.) Rs 11.0 11.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for NAVIN FLUORINE

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 5.9x during FY21, from 4.4x 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 195.6x during FY21, from 129.6x 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 declined and down at 15.1% during FY21, from 28.5% 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 22.0% during FY21, from 18.4% 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 declined and down at 11.4% during FY21, from 20.2% 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 4.4 5.9
Debtors’ Days Days 751 879
Interest coverage x 129.6 195.6
Debt to equity ratio x 0.0 0.0
Return on assets % 20.2 11.4
Return on equity % 28.5 15.1
Return on capital employed % 18.4 22.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how NAVIN FLUORINE has performed over the last 5 years, please visit here.

NAVIN FLUORINE Share Price Performance

Over the last one year, NAVIN FLUORINE share price has moved up from Rs 2,037.8 to Rs 3,936.1, registering a gain of Rs 1,898.3 or around 93.2%.

Overall, the S&P BSE SENSEX is up 51.9% over the year.

(To know more, check out historical annual results for NAVIN FLUORINE and quarterly results for NAVIN FLUORINE)

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Related Views on News

NAVIN FLUORINE Announces Quarterly Results (2QFY22); Net Profit Down 1.9% (Quarterly Result Update)

Oct 20, 2021 | Updated on Oct 20, 2021

For the quarter ended September 2021, NAVIN FLUORINE has posted a net profit of Rs 632 m (down 1.9% YoY). Sales on the other hand came in at Rs 3 bn (up 6.3% YoY). Read on for a complete analysis of NAVIN FLUORINE's quarterly results.

NAVIN FLUORINE Announces Quarterly Results (3QFY21); Net Profit Up 29.6% (Quarterly Result Update)

Jan 28, 2021 | Updated on Jan 28, 2021

For the quarter ended December 2020, NAVIN FLUORINE has posted a net profit of Rs 587 m (up 29.6% YoY). Sales on the other hand came in at Rs 3 bn (up 17.9% YoY). Read on for a complete analysis of NAVIN FLUORINE's quarterly results.

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