HUHTAMAKI PPL 2017-18 Annual Report Analysis

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HUHTAMAKI PPL 2017-18 Annual Report Analysis
Mon, 22 Apr

HUHTAMAKI PPL has announced its results for the year ended December 2018. Let us have a look at the detailed performance review of the company during FY17-18.

HUHTAMAKI PPL Income Statement Analysis

  • Operating income during the year rose 11.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 1.4% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 9.3% in CY18 as against 10.2% in CY17.
  • Depreciation charges increased by 0.1% and finance costs increased by 23.2% YoY, respectively.
  • Other income grew by 22.8% YoY.
  • Net profit for the year declined by 45.2% YoY.
  • Net profit margins during the year declined from 3.0% in CY17 to 1.5% in CY18.

HUHTAMAKI PPL Income Statement 2017-18

No. of Mths Year Ending 12 Dec-17* 12 Dec-18* % Change
Net Sales Rs m 21,310 23,691 11.2%
Other income Rs m 136 167 22.8%
Total Revenues Rs m 21,445 23,857 11.2%
Gross profit Rs m 2,184 2,214 1.4%
Depreciation Rs m 853 854 0.1%
Interest Rs m 318 392 23.2%
Profit before tax Rs m 1,150 1,136 -1.2%
Tax Rs m 514 787 53.2%
Profit after tax Rs m 636 349 -45.2%
Gross profit margin % 10.2 9.3
Effective tax rate % 44.7 69.3
Net profit margin % 3.0 1.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HUHTAMAKI PPL Balance Sheet Analysis

  • The company's current liabilities during CY18 stood at Rs 5 billion as compared to Rs 5 billion in CY17, thereby witnessing an increase of 2.7%.
  • Long-term debt down at Rs 4 billion as compared to Rs 4 billion during CY17, a fall of 1.0%.
  • Current assets fell 6% and stood at Rs 9 billion, while fixed assets rose 19% and stood at Rs 5 billion in CY18.
  • Overall, the total assets and liabilities for CY18 stood at Rs 15 billion as against Rs 14 billion during CY17, thereby witnessing a growth of 1%.

HUHTAMAKI PPL Balance Sheet as on December 2018

No. of Mths Year Ending 12 Dec-17* 12 Dec-18* % Change
Networth Rs m 5,491 5,565 1.3
 
Current Liabilities Rs m 4,757 4,887 2.7
Long-term Debt Rs m 3,942 3,904 -1.0
Total Liabilities Rs m 14,349 14,510 1.1
 
Current assets Rs m 9,427 8,885 -5.7
Fixed Assets Rs m 4,393 5,222 18.9
Total Assets Rs m 14,349 14,510 1.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



HUHTAMAKI PPL Cash Flow Statement Analysis

  • HUHTAMAKI PPL's cash flow from operating activities (CFO) during CY18 stood at Rs 1 billion, an improvement of 5.3% on a YoY basis.
  • Cash flow from investing activities (CFI) during CY18 stood at Rs -296 million on a YoY basis.
  • Cash flow from financial activities (CFF) during CY18 stood at Rs -685 million, an improvement of 22% on a YoY basis.
  • Overall, net cash flows for the company during CY18 stood at Rs 31 million from the Rs 133 million net cash flows seen during CY17.

HUHTAMAKI PPL Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Dec-17 Dec-18
Cash Flow from Operating Activities Rs m 960 1,012 5.3%
Cash Flow from Investing Activities Rs m 46 -296 -
Cash Flow from Financing Activities Rs m -873 -685 -
Net Cash Flow Rs m 133 31 -76.7%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for HUHTAMAKI PPL

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 4.6, an decline from the EPS of Rs 8.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 222.6, stands at 46.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.8 times, while the price to sales ratio stands at 0.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 13.5 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Dec-17* 12 Dec-18*
Sales per share (Unadj.) Rs 282.2 313.7
TTM Earnings per share Rs 8.4 4.6
Diluted earnings per share Rs 8.7 4.8
Price to Cash Flow x 11.3 13.5
TTM P/E ratio x 48.2 46.4
Price / Book Value ratio x 4.0 3.8
Market Cap Rs m 16,811 16,185
Dividends per share (Unadj.) Rs 3.0 3.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for HUHTAMAKI PPL

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.8x during CY18, from 2.0x during CY17. 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 3.9x during CY18, from 4.6x during CY17. 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 6.3% during CY18, from 11.6% during CY18. 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 16.1% during CY18, from 15.6% during CY17. 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 5.1% during CY18, from 6.6% during CY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Dec-17* 12 Dec-18*
Current ratio x 2.0 1.8
Debtors’ Days Days 90 88
Interest coverage x 4.6 3.9
Debt to equity ratio x 0.7 0.7
Return on assets % 6.6 5.1
Return on equity % 11.6 6.3
Return on capital employed % 15.6 16.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how HUHTAMAKI PPL has performed over the last 5 years, please visit here.

HUHTAMAKI PPL Share Price Performance

Over the last one year, HUHTAMAKI PPL share price has moved up from Rs 355.1 to Rs 222.6, registering a loss of Rs 132.5 or around 37.3%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,816.1 (down 0.6%). Over the last one year it has moved up from 11,068.5 to 11,816.1, a gain of 748 points (up 6.8%).

Overall, the S&P BSE SENSEX is up 13.2% over the year.

(To know more, check out historical annual results for HUHTAMAKI PPL and quarterly results for HUHTAMAKI PPL)

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HUHTAMAKI PPL Announces Quarterly Results (2QFY20); Net Profit Up 311.0% (Quarterly Result Update)

Nov 6, 2019 | Updated on Nov 6, 2019

For the quarter ended September 2019, HUHTAMAKI PPL has posted a net profit of Rs 319 m (up 311.0% YoY). Sales on the other hand came in at Rs 6 bn (up 6.3% YoY). Read on for a complete analysis of HUHTAMAKI PPL's quarterly results.

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HUHTAMAKI PPL 2016-17 Annual Report Analysis (Annual Result Update)

Dec 18, 2018 | Updated on Dec 18, 2018

Here's an analysis of the annual report of HUHTAMAKI PPL for 2016-17. It includes a full income statement, balance sheet and cash flow analysis of HUHTAMAKI PPL. Also includes updates on the valuation of HUHTAMAKI PPL.

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