RAYMOND 2018-19 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

RAYMOND 2018-19 Annual Report Analysis
Mon, 27 May

RAYMOND 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.

RAYMOND Income Statement Analysis

  • Operating income during the year rose 11.6% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 34.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 8.8% in FY19 as against 7.3% in FY18.
  • Depreciation charges increased by 15.4% and finance costs increased by 26.6% YoY, respectively.
  • Other income grew by 5.8% YoY.
  • Net profit for the year grew by 23.5% YoY.
  • Net profit margins during the year grew from 2.4% in FY18 to 2.6% in FY19.

RAYMOND Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 58,995 65,823 11.6%
Other income Rs m 1,185 1,254 5.8%
Total Revenues Rs m 60,180 67,077 11.5%
Gross profit Rs m 4,279 5,768 34.8%
Depreciation Rs m 1,703 1,965 15.4%
Interest Rs m 1,838 2,326 26.6%
Profit before tax Rs m 1,923 2,731 42.0%
Tax Rs m 666 856 28.5%
Profit after tax Rs m 1,416 1,748 23.5%
Gross profit margin % 7.3 8.8
Effective tax rate % 34.7 31.4
Net profit margin % 2.4 2.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



RAYMOND Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 41 billion as compared to Rs 34 billion in FY18, thereby witnessing an increase of 20.0%.
  • Long-term debt down at Rs 4 billion as compared to Rs 7 billion during FY18, a fall of 38.1%.
  • Current assets rose 17% and stood at Rs 40 billion, while fixed assets rose 8% and stood at Rs 22 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 67 billion as against Rs 61 billion during FY18, thereby witnessing a growth of 9%.

RAYMOND Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 18,120 19,538 7.8
 
Current Liabilities Rs m 34,444 41,337 20.0
Long-term Debt Rs m 6,640 4,113 -38.1
Total Liabilities Rs m 61,090 66,645 9.1
 
Current assets Rs m 34,321 40,179 17.1
Fixed Assets Rs m 20,120 21,778 8.2
Total Assets Rs m 61,090 66,645 9.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



RAYMOND Cash Flow Statement Analysis

  • RAYMOND's cash flow from operating activities (CFO) during FY19 stood at Rs 3 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -1 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -1 billion on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -248 million from the Rs 94 million net cash flows seen during FY18.

RAYMOND 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 3,947 2,507 -36.5%
Cash Flow from Investing Activities Rs m -4,085 -1,226 -
Cash Flow from Financing Activities Rs m 296 -1,488 -
Net Cash Flow Rs m 94 -248 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for RAYMOND

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 28.5, an improvement from the EPS of Rs 23.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 856.9, stands at 28.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.7 times, while the price to sales ratio stands at 0.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 13.9 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 961.1 1,072.4
TTM Earnings per share Rs 23.1 28.5
Diluted earnings per share Rs 23.1 28.5
Price to Cash Flow x 16.6 13.9
TTM P/E ratio x 28.6 28.6
Price / Book Value ratio x 2.9 2.7
Market Cap Rs m 52,597 52,597
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 RAYMOND

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.0x during FY19, from 1.0x during FY18. 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 2.2x during FY19, from 2.0x during FY18. 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 8.9% during FY19, from 7.8% 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 improved and stood at 20.8% during FY19, from 15.8% 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 improved and stood at 6.1% during FY19, from 5.3% 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 1.0 1.0
Debtors’ Days Days 67 70
Interest coverage x 2.0 2.2
Debt to equity ratio x 0.4 0.2
Return on assets % 5.3 6.1
Return on equity % 7.8 8.9
Return on capital employed % 15.8 20.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

RAYMOND Share Price Performance

Over the last one year, RAYMOND share price has moved up from Rs 1,027.5 to Rs 856.9, registering a loss of Rs 170.6 or around 16.6%.

Overall, the S&P BSE SENSEX is up 14.6% over the year.

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

Equitymaster requests your view! Post a comment on "RAYMOND 2018-19 Annual Report Analysis". Click here!

1 Responses to "RAYMOND 2018-19 Annual Report Analysis"

Divyanshu

Nov 9, 2019

Need to download

Like 
  
Equitymaster requests your view! Post a comment on "RAYMOND 2018-19 Annual Report Analysis". Click here!

Related Views on News

RAYMOND Announces Quarterly Results (3QFY20); Net Profit Down 16.7% (Quarterly Result Update)

Jan 27, 2020 | Updated on Jan 27, 2020

For the quarter ended December 2019, RAYMOND has posted a net profit of Rs 376 m (down 16.7% YoY). Sales on the other hand came in at Rs 19 bn (up 12.6% YoY). Read on for a complete analysis of RAYMOND's quarterly results.

RAYMOND Announces Quarterly Results (2QFY20); Net Profit Up 23.8% (Quarterly Result Update)

Nov 1, 2019 | Updated on Nov 1, 2019

For the quarter ended September 2019, RAYMOND has posted a net profit of Rs 824 m (up 23.8% YoY). Sales on the other hand came in at Rs 19 bn (up 1.9% YoY). Read on for a complete analysis of RAYMOND's quarterly results.

More Views on News

Most Popular

How to Buy the Best Safe Stocks in 2020(The 5 Minute Wrapup)

Jan 17, 2020

Don't fall for the safe stocks narrative going around in the stock market these days.

Guess Which Stocks Are Rising at Double the Speed of Sensex(Profit Hunter)

Jan 15, 2020

These stocks can move twice as fast as the Sensex - to take advantage of their money multiplying power get in now as the rally is still just taking shape.. read more to not miss out.

For 1,000%+ Gains, Follow the 8-Year Cycle in the Stock Market(Fast Profits Daily)

Jan 17, 2020

This is how the biggest trading profits are made.

The Best Asset Class to Invest in 2020(Fast Profits Daily)

Jan 24, 2020

Why I'm most bullish on this asset class above all else in 2020.

What the Infosys Results Tell Us About the Next Infosys(The 5 Minute Wrapup)

Jan 15, 2020

If you're interested in the next Infosys, I'll tell you where to look.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get our special report, Secret to Increasing Your Trading Profits Today Now!
We will never sell or rent your email id.
Please read our Terms

TRACK RAYMOND

  • Track your investment in RAYMOND with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

COMPARE RAYMOND WITH

MARKET STATS