REL.INDUS.INFRAS 2018-19 Annual Report Analysis

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REL.INDUS.INFRAS 2018-19 Annual Report Analysis
Mon, 30 Sep

REL.INDUS.INFRAS has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

REL.INDUS.INFRAS Income Statement Analysis

  • Operating income during the year fell 4.7% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 32.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 11.1% in FY19 as against 15.8% in FY18.
  • Depreciation charges increased by 2.1% increased by 0.0% YoY, respectively.
  • Other income grew by 20.1% YoY.
  • Net profit for the year declined by 14.3% YoY.
  • Net profit margins during the year declined from 9.3% in FY18 to 8.2% in FY19.

REL.INDUS.INFRAS Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 1,039 991 -4.7%
Other income Rs m 127 152 20.1%
Total Revenues Rs m 1,166 1,143 -2.0%
Gross profit Rs m 164 110 -32.9%
Depreciation Rs m 139 142 2.1%
Interest Rs m 0 0 0.0%
Profit before tax Rs m 151 120 -20.7%
Tax Rs m 54 42 -21.9%
Profit after tax Rs m 109 93 -14.3%
Gross profit margin % 15.8 11.1
Effective tax rate % 35.6 35.1
Net profit margin % 9.3 8.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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REL.INDUS.INFRAS Balance Sheet Analysis

  • The company's current liabilities during FY19 down at Rs 219 million as compared to Rs 252 million in FY18, thereby witnessing an decrease of -12.8%.
  • Current assets rose 18% and stood at Rs 563 million, while fixed assets fell 14% and stood at Rs 817 million in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 4 billion as against Rs 4 billion during FY18, thereby witnessing a growth of 3%.

REL.INDUS.INFRAS Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 3,540 3,707 4.7
 
Current Liabilities Rs m 252 219 -12.8
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 3,980 4,100 3.0
 
Current assets Rs m 478 563 17.9
Fixed Assets Rs m 948 817 -13.8
Total Assets Rs m 3,980 4,100 3.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



REL.INDUS.INFRAS Cash Flow Statement Analysis

  • REL.INDUS.INFRAS's cash flow from operating activities (CFO) during FY19 stood at Rs 131 million, an improvement of 5.7% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -71 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -64 million on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -5 million from the Rs -12 million net cash flows seen during FY18.

REL.INDUS.INFRAS Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 124 131 5.7%
Cash Flow from Investing Activities Rs m -73 -71 -
Cash Flow from Financing Activities Rs m -63 -64 -
Net Cash Flow Rs m -12 -5 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for REL.INDUS.INFRAS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 6.2, an decline from the EPS of Rs 7.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 262.6, stands at 52.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.5 times, while the price to sales ratio stands at 5.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 18.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 68.8 65.6
TTM Earnings per share Rs 7.2 6.2
Diluted earnings per share Rs 7.2 6.2
Price to Cash Flow x 16.8 18.0
TTM P/E ratio x 52.3 52.3
Price / Book Value ratio x 2.3 1.5
Market Cap Rs m 3,965 3,965
Dividends per share (Unadj.) Rs 3.5 3.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for REL.INDUS.INFRAS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.6x during FY19, from 1.9x during FY18. The current ratio measures the company's ability to pay short-term and long-term obligations.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 2.5% during FY19, from 3.1% during FY19. 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 3.6% during FY19, from 4.6% during FY18. 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 2.3% during FY19, from 2.7% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 1.9 2.6
Debtors’ Days Days 65 53
Interest coverage x 0.0 0.0
Debt to equity ratio x 0.0 0.0
Return on assets % 2.7 2.3
Return on equity % 3.1 2.5
Return on capital employed % 4.6 3.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how REL.INDUS.INFRAS has performed over the last 5 years, please visit here.

REL.INDUS.INFRAS Share Price Performance

Over the last one year, REL.INDUS.INFRAS share price has moved down from Rs 346.1 to Rs 262.6, registering a loss of Rs 83.5 or around 24.1%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,974.8 (down 1.7%). Over the last one year it has moved up from 1,702.9 to 1,974.8, a gain of 272 points (up 16.0%).

Overall, the S&P BSE SENSEX is up 6.0% over the year.

(To know more, check out historical annual results for REL.INDUS.INFRAS and quarterly results for REL.INDUS.INFRAS)

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REL.INDUS.INFRAS Announces Quarterly Results (2QFY20); Net Profit Down 0.9% (Quarterly Result Update)

Oct 17, 2019 | Updated on Oct 17, 2019

For the quarter ended September 2019, REL.INDUS.INFRAS has posted a net profit of Rs 21 m (down 0.9% YoY). Sales on the other hand came in at Rs 200 m (down 6.2% YoY). Read on for a complete analysis of REL.INDUS.INFRAS's quarterly results.

REL.INDUS.INFRAS Announces Quarterly Results (1QFY20); Net Profit Down 10.6% (Quarterly Result Update)

Jul 15, 2019 | Updated on Jul 15, 2019

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