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SHREE RENUKA SUGARS 2017-18 Annual Report Analysis
Sat, 31 Mar

SHREE RENUKA SUGARS has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

SHREE RENUKA SUGARS Income Statement Analysis

  • Operating income during the year fell 34.3% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 367.7% YoY during the fiscal. Operating profit margins witnessed a growth and stood at 12.8% in FY18 as against 3.2% in FY17.
  • Depreciation charges decreased by 9.9% and finance costs increased by 0.5% YoY, respectively.
  • Other income declined by 74.3% YoY.
  • Net profit for the year grew by 91.3% YoY.
  • Net profit margins during the year declined from 9.8% in FY17 to 28.6% in FY18.

SHREE RENUKA SUGARS Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 117,444 77,120 -34.3%
Other income Rs m 3,772 969 -74.3%
Total Revenues Rs m 121,216 78,089 -35.6%
Gross profit Rs m 3,700 -9,906 -367.7%
Depreciation Rs m 9,550 8,606 -9.9%
Interest Rs m 9,581 9,633 0.5%
Profit before tax Rs m -11,659 -27,176 133.1%
Tax Rs m -139 -5,138 3,602.6%
Profit after tax Rs m -11,520 -22,038 91.3%
Gross profit margin % 3.2 -12.8
Effective tax rate % 1.2 18.9
Net profit margin % -9.8 -28.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Read Now: We're Bullish on 2 Non-Nifty Stocks

SHREE RENUKA SUGARS Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 99 billion as compared to Rs 103 billion in FY17, thereby witnessing an decrease of -3.8%.
  • Long-term debt down at Rs 29 billion as compared to Rs 50 billion during FY17, a fall of 42.4%.
  • Current assets fell 29% and stood at Rs 26 billion, while fixed assets fell 21% and stood at Rs 71 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 96 billion as against Rs 126 billion during FY17, thereby witnessing a fall of 23%.

SHREE RENUKA SUGARS Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m -33,425 -17,070 -48.9
 
Current Liabilities Rs m 103,217 99,323 -3.8
Long-term Debt Rs m 50,461 29,057 -42.4
Total Liabilities Rs m 125,916 96,458 -23.4
 
Current assets Rs m 36,484 25,814 -29.2
Fixed Assets Rs m 89,433 70,644 -21.0
Total Assets Rs m 125,916 96,458 -23.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



SHREE RENUKA SUGARS Cash Flow Statement Analysis

  • SHREE RENUKA SUGARS's cash flow from operating activities (CFO) during FY18 stood at Rs -217 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 257 million, an improvement of 110% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -40 million from the Rs 75 million net cash flows seen during FY17.

SHREE RENUKA SUGARS Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 11,178 -217 -
Cash Flow from Investing Activities Rs m -8,643 -3,390 -
Cash Flow from Financing Activities Rs m -2,460 257 -
Net Cash Flow Rs m 75 -40 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for SHREE RENUKA SUGARS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -11.5, an improvement from the EPS of Rs -12.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 15.4, stands at -1.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at -1.9 times, while the price to sales ratio stands at 0.4 times.
  • The company's price to cash flow (P/CF) ratio stood at -2.5 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 124.2 40.2
TTM Earnings per share Rs -12.2 -11.5
Diluted earnings per share Rs -5.4 -10.4
Price to Cash Flow x -15.7 -2.5
TTM P/E ratio x -25.0 -1.1
Price / Book Value ratio x -0.4 -1.9
Market Cap Rs m 14,486 32,969
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for SHREE RENUKA SUGARS

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 0.3x during FY18, from 0.4x during FY17. 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 -1.8x during FY18, from -0.2x during FY17. 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 129.1% during FY18, from 34.5% during FY18. 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 -146.3% during FY18, from -12.2% during FY17. 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 -12.9% during FY18, from -1.5% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 0.4 0.3
Debtors’ Days Days 31 36
Interest coverage x -0.2 -1.8
Debt to equity ratio x -1.5 -1.7
Return on assets % -1.5 -12.9
Return on equity % 34.5 129.1
Return on capital employed % -12.2 -146.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

SHREE RENUKA SUGARS Share Price Performance

Over the last one year, SHREE RENUKA SUGARS share price has moved up from Rs 14.6 to Rs 15.4, registering a gain of Rs 0.8 or around 5.5%.

Overall, the S&P BSE SENSEX is up 12.1% over the year.

(To know more, check out historical annual results for SHREE RENUKA SUGARS and quarterly results for SHREE RENUKA SUGARS)

Annual Report FAQs

What is the current share price of SHREE RENUKA SUGARS?

SHREE RENUKA SUGARS currently trades at Rs 39.7 per share. You can check out the latest share price performance of SHREE RENUKA SUGARS here...

What was the revenue of SHREE RENUKA SUGARS in FY18? How does it compare to earlier years?

The revenues of SHREE RENUKA SUGARS stood at Rs 78,089 m in FY18, which was down -35.6% compared to Rs 121,216 m reported in FY17.

SHREE RENUKA SUGARS' revenue has fallen from Rs 98,191 m in FY16 to Rs 78,089 m in FY18.

Over the past 3 years, the revenue of SHREE RENUKA SUGARS has grown at a CAGR of -10.8%.

What was the net profit of SHREE RENUKA SUGARS in FY18? How does it compare to earlier years?

The net loss of SHREE RENUKA SUGARS stood at Rs -22,038 m in FY18, which was up 91.3% compared to Rs -11,520 m reported in FY17.

This compares to a net loss of Rs -18,091 m in FY16.

Over the past 3 years, SHREE RENUKA SUGARS net profit has grown at a CAGR of 10.4%.

What does the cash flow statement of SHREE RENUKA SUGARS 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 SHREE RENUKA SUGARS reveals:

  • Cash flow from operations decreased in FY18 and stood at Rs -217 m as compared to Rs 11,178 m in FY17.
  • Cash flow from investments increased in FY18 and stood at Rs -3,390 m as compared to Rs -8,643 m in FY17.
  • Cash flow from financial activity increased in FY18 and stood at Rs 257 m as compared to Rs -2,460 m in FY17.

Here's the cash flow statement of SHREE RENUKA SUGARS for the past 3 years.

(Rs m)FY16FY17FY18
From Operations4,87511,178-217
From Investments-2,245-8,643-3,390
From Financial Activity-2,722-2,460257
Net Cashflow-9275-40

What does the Key Ratio analysis of SHREE RENUKA SUGARS 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 SHREE RENUKA SUGARS reveals:

  • Operating profit margins witnessed a growth and stood at 12.8% in FY18 as against 3.2% in FY17.
  • Net profit margins declined from 9.8% in FY17 to 28.6% in FY18.
  • Debt to Equity ratio for FY18 stood at -1.7 as compared to -1.5 in FY17.

Here's the ratio/financial analysis of SHREE RENUKA SUGARS for the past 3 years.

 FY16FY17FY18
Operating Profit Margin (%)-2.93.2-12.8
Net Profit Margin (%)-18.6-9.8-28.6
Debt to Equity Ratio (x)-2.0-1.5-1.7

Read: Latest Annual Report Analysis of SHREE RENUKA SUGARS

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