HUHTAMAKI PPL 2018-19 Annual Report Analysis

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HUHTAMAKI PPL 2018-19 Annual Report Analysis
Tue, 1 Dec

HUHTAMAKI PPL has announced its results for the year ended December 2019. Let us have a look at the detailed performance review of the company during FY18-19.

HUHTAMAKI PPL Income Statement Analysis

  • Operating income during the year rose 9.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 32.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 11.3% in CY19 as against 9.3% in CY18.
  • Depreciation charges increased by 1.8% and finance costs decreased by 46.0% YoY, respectively.
  • Other income grew by 0.4% YoY.
  • Net profit for the year grew by 387.5% YoY.
  • Net profit margins during the year grew from 1.5% in CY18 to 6.5% in CY19.

HUHTAMAKI PPL Income Statement 2018-19

No. of Mths Year Ending 12 Dec-18* 12 Dec-19* % Change
Net Sales Rs m 23,691 25,824 9.0%
Other income Rs m 167 167 0.4%
Total Revenues Rs m 23,857 25,991 8.9%
Gross profit Rs m 2,214 2,929 32.3%
Depreciation Rs m 854 869 1.8%
Interest Rs m 392 211 -46.0%
Profit before tax Rs m 1,136 2,016 77.5%
Tax Rs m 787 315 -59.9%
Profit after tax Rs m 349 1,700 387.5%
Gross profit margin % 9.3 11.3
Effective tax rate % 69.3 15.6
Net profit margin % 1.5 6.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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HUHTAMAKI PPL Balance Sheet Analysis

  • The company's current liabilities during CY19 stood at Rs 7 billion as compared to Rs 5 billion in CY18, thereby witnessing an increase of 42.6%.
  • Long-term debt down at Rs 1 billion as compared to Rs 4 billion during CY18, a fall of 73.9%.
  • Current assets rose 6% and stood at Rs 9 billion, while fixed assets fell 5% and stood at Rs 5 billion in CY19.
  • Overall, the total assets and liabilities for CY19 stood at Rs 15 billion as against Rs 15 billion during CY18, thereby witnessing a growth of 4%.

HUHTAMAKI PPL Balance Sheet as on December 2019

No. of Mths Year Ending 12 Dec-18* 12 Dec-19* % Change
Networth Rs m 5,565 6,974 25.3
 
Current Liabilities Rs m 4,887 6,968 42.6
Long-term Debt Rs m 3,904 1,018 -73.9
Total Liabilities Rs m 14,510 15,141 4.4
 
Current assets Rs m 8,885 9,426 6.1
Fixed Assets Rs m 5,222 4,947 -5.3
Total Assets Rs m 14,510 15,141 4.4
* 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 CY19 stood at Rs 3 billion, an improvement of 181.2% on a YoY basis.
  • Cash flow from investing activities (CFI) during CY19 stood at Rs -875 million, an improvement of 195.5% on a YoY basis.
  • Cash flow from financial activities (CFF) during CY19 stood at Rs -2 billion on a YoY basis.
  • Overall, net cash flows for the company during CY19 stood at Rs -32 million from the Rs 31 million net cash flows seen during CY18.

HUHTAMAKI PPL Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Dec-18 Dec-19
Cash Flow from Operating Activities Rs m 1,012 2,845 181.2%
Cash Flow from Investing Activities Rs m -296 -875 -
Cash Flow from Financing Activities Rs m -685 -2,001 -
Net Cash Flow Rs m 31 -32 -
* 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 22.5, an improvement from the EPS of Rs 4.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 304.9, stands at 14.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.4 times, while the price to sales ratio stands at 0.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 8.6 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Dec-18* 12 Dec-19*
Sales per share (Unadj.) Rs 313.7 341.9
TTM Earnings per share Rs 4.6 22.5
Diluted earnings per share Rs 4.8 23.4
Price to Cash Flow x 19.1 8.6
TTM P/E ratio x 14.8 14.3
Price / Book Value ratio x 3.8 2.4
Market Cap Rs m 23,026 22,169
Dividends per share (Unadj.) Rs 3.0 5.0
* 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 1.4x during CY19, from 1.8x during CY18. 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 10.5x during CY19, from 3.9x during CY18. 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 24.4% during CY19, from 6.3% during CY19. 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 27.9% during CY19, from 16.1% during CY18. 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 12.6% during CY19, from 5.1% during CY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Dec-18* 12 Dec-19*
Current ratio x 1.8 1.4
Debtors’ Days Days 88 87
Interest coverage x 3.9 10.5
Debt to equity ratio x 0.7 0.1
Return on assets % 5.1 12.6
Return on equity % 6.3 24.4
Return on capital employed % 16.1 27.9
* 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 246.5 to Rs 304.9, registering a gain of Rs 58.4 or around 23.7%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,746.9 (up 0.2%). Over the last one year it has moved up from 11,723.6 to 11,746.9, a gain of 23 points (up 0.2%).

Overall, the S&P BSE SENSEX is up 8.9% 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 (4QFY20); Net Profit Down 35.0% (Quarterly Result Update)

May 19, 2020 | Updated on May 19, 2020

For the quarter ended March 2020, HUHTAMAKI PPL has posted a net profit of Rs 273 m (down 35.0% YoY). Sales on the other hand came in at Rs 6 bn (down 8.7% YoY). Read on for a complete analysis of HUHTAMAKI PPL's quarterly results.

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HUHTAMAKI PPL 2017-18 Annual Report Analysis (Annual Result Update)

Apr 22, 2019 | Updated on Apr 22, 2019

Here's an analysis of the annual report of HUHTAMAKI PPL for 2017-18. 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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