P&G HYGIENE 2017-18 Annual Report Analysis

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P&G HYGIENE 2017-18 Annual Report Analysis
Mon, 31 Dec

P&G HYGIENE has announced its results for the year ended June 2018. Let us have a look at the detailed performance review of the company during FY17-18.

P&G HYGIENE Income Statement Analysis

  • Operating income during the year rose 5.8% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 7.4% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 25.1% in FY as against 28.6% in FY.
  • Depreciation charges decreased by 12.3% and finance costs decreased by 48.9% YoY, respectively.
  • Other income declined by 68.9% YoY.
  • Net profit for the year declined by 13.4% YoY.
  • Net profit margins during the year declined from 18.0% in FY to 15.1% in FY.

P&G HYGIENE Income Statement 2017-18

No. of Mths Year Ending 12 Jun-17* 12 Jun-18* % Change
Net Sales Rs m 23,204 24,553 5.8%
Other income Rs m 773 241 -68.9%
Total Revenues Rs m 23,977 24,794 3.4%
Gross profit Rs m 6,646 6,154 -7.4%
Depreciation Rs m 597 524 -12.3%
Interest Rs m 104 53 -48.9%
Profit before tax Rs m 6,718 5,818 -13.4%
Tax Rs m 2,390 2,072 -13.3%
Profit after tax Rs m 4,327 3,746 -13.4%
Gross profit margin % 28.6 25.1
Effective tax rate % 35.6 35.6
Net profit margin % 18.0 15.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



P&G HYGIENE Balance Sheet Analysis

  • The company's current liabilities during FY down at Rs 6 billion as compared to Rs 6 billion in FY, thereby witnessing an decrease of -1.9%.
  • Current assets rose 43% and stood at Rs 9 billion, while fixed assets fell 17% and stood at Rs 3 billion in FY.
  • Overall, the total assets and liabilities for FY stood at Rs 14 billion as against Rs 12 billion during FY, thereby witnessing a growth of 23%.

P&G HYGIENE Balance Sheet as on June 2018

No. of Mths Year Ending 12 Jun-17* 12 Jun-18* % Change
Networth Rs m 5,261 8,055 53.1
 
Current Liabilities Rs m 5,823 5,711 -1.9
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 11,601 14,254 22.9
 
Current assets Rs m 6,031 8,600 42.6
Fixed Assets Rs m 3,266 2,716 -16.8
Total Assets Rs m 11,601 14,254 22.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



P&G HYGIENE Cash Flow Statement Analysis

  • P&G HYGIENE's cash flow from operating activities (CFO) during FY stood at Rs 4 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY stood at Rs -195 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY stood at Rs -1 billion, an improvement of 93% on a YoY basis.
  • Overall, net cash flows for the company during FY stood at Rs 3 billion from the Rs -10 billion net cash flows seen during FY.

P&G HYGIENE Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Jun-17 Jun-18
Cash Flow from Operating Activities Rs m 4,453 4,155 -6.7%
Cash Flow from Investing Activities Rs m 1,493 -195 -
Cash Flow from Financing Activities Rs m -15,587 -1,061 -
Net Cash Flow Rs m -9,642 2,899 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for P&G HYGIENE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 115.4, an decline from the EPS of Rs 133.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 9,885.0, stands at 79.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 36.8 times, while the price to sales ratio stands at 12.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 75.2 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Jun-17* 12 Jun-18*
Sales per share (Unadj.) Rs 714.8 756.4
TTM Earnings per share Rs 133.3 115.4
Diluted earnings per share Rs 133.3 115.4
Price to Cash Flow x 65.2 75.2
TTM P/E ratio x 79.6 79.6
Price / Book Value ratio x 44.2 36.8
Market Cap Rs m 320,867 320,867
Dividends per share (Unadj.) Rs 27.0 40.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for P&G HYGIENE

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.5x during FY, from 1.0x during FY. 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 110.4x during FY, from 65.5x during FY. 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 46.5% during FY, from 82.2% during FY. 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 72.9% during FY, from 129.7% during FY. 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 26.7% during FY, from 38.2% during FY. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Jun-17* 12 Jun-18*
Current ratio x 1.0 1.5
Debtors’ Days Days 21 22
Interest coverage x 65.5 110.4
Debt to equity ratio x 0.0 0.0
Return on assets % 38.2 26.7
Return on equity % 82.2 46.5
Return on capital employed % 129.7 72.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how P&G HYGIENE has performed over the last 5 years, please visit here.

P&G HYGIENE Share Price Performance

Over the last one year, P&G HYGIENE share price has moved up from Rs 9,381.0 to Rs 9,885.0, registering a gain of Rs 504.1 or around 5.4%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,885.9 (up 0.4%). Over the last one year it has moved up from 10,695.2 to 11,885.9, a gain of 1,191 points (up 11.1%).

Overall, the S&P BSE SENSEX is up 6.8% over the year.

(To know more, check out historical annual results for P&G HYGIENE and quarterly results for P&G HYGIENE)

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1 Responses to "P&G HYGIENE 2017-18 Annual Report Analysis"

syed Habib Ullah

May 1, 2019

checking all relevant data

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P&G HYGIENE Announces Quarterly Results (2QFY21); Net Profit Up 85.5% (Quarterly Result Update)

Nov 11, 2020 | Updated on Nov 11, 2020

For the quarter ended September 2020, P&G HYGIENE has posted a net profit of Rs 3 bn (up 85.5% YoY). Sales on the other hand came in at Rs 10 bn (up 18.5% YoY). Read on for a complete analysis of P&G HYGIENE's quarterly results.

P&G HYGIENE Announces Quarterly Results (3QFY20); Net Profit Up 9.5% (Quarterly Result Update)

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For the quarter ended December 2019, P&G HYGIENE has posted a net profit of Rs 1 bn (up 9.5% YoY). Sales on the other hand came in at Rs 9 bn (up 5.0% YoY). Read on for a complete analysis of P&G HYGIENE's quarterly results.

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