SVP GLOBAL 2020-21 Annual Report Analysis

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SVP GLOBAL 2020-21 Annual Report Analysis
Thu, 18 Nov

SVP GLOBAL has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

SVP GLOBAL Income Statement Analysis

  • Operating income during the year fell 6.9% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 58.4% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 5.9% in FY21 as against 13.2% in FY20.
  • Depreciation charges decreased by 0.8% and finance costs decreased by 3.2% YoY, respectively.
  • Other income grew by 81.3% YoY.
  • Net profit for the year declined by 51.4% YoY.
  • Net profit margins during the year declined from 3.5% in FY20 to 1.7% in FY21.

SVP GLOBAL Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 13,555 12,625 -6.9%
Other income Rs m 882 1,599 81.3%
Total Revenues Rs m 14,437 14,224 -1.5%
Gross profit Rs m 1,786 743 -58.4%
Depreciation Rs m 847 840 -0.8%
Interest Rs m 1,292 1,251 -3.2%
Profit before tax Rs m 528 250 -52.6%
Tax Rs m 17 2 -89.6%
Profit after tax Rs m 511 249 -51.4%
Gross profit margin % 13.2 5.9
Effective tax rate % 3.2 0.7
Net profit margin % 3.5 1.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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SVP GLOBAL Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 9 billion as compared to Rs 11 billion in FY20, thereby witnessing an decrease of -11.8%.
  • Long-term debt down at Rs 17 billion as compared to Rs 17 billion during FY20, a fall of 3.3%.
  • Current assets fell 11% and stood at Rs 15 billion, while fixed assets rose 8% and stood at Rs 23 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 39 billion as against Rs 39 billion during FY20, thereby witnessing a fall of 0%.

SVP GLOBAL Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 8,519 9,097 6.8
 
Current Liabilities Rs m 10,610 9,361 -11.8
Long-term Debt Rs m 17,350 16,775 -3.3
Total Liabilities Rs m 38,772 38,677 -0.2
 
Current assets Rs m 17,112 15,237 -11.0
Fixed Assets Rs m 21,660 23,440 8.2
Total Assets Rs m 38,772 38,677 -0.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



SVP GLOBAL Cash Flow Statement Analysis

  • SVP GLOBAL's cash flow from operating activities (CFO) during FY21 stood at Rs 850 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs 709 million on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -1 billion from the Rs 1 billion net cash flows seen during FY20.

SVP GLOBAL Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Mar-20 Mar-21
Cash Flow from Operating Activities Rs m -2,407 850 -
Cash Flow from Investing Activities Rs m -9,622 -2,617 -
Cash Flow from Financing Activities Rs m 13,089 709 -94.6%
Net Cash Flow Rs m 1,060 -1,058 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for SVP GLOBAL

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 2.0, an decline from the EPS of Rs 40.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 116.5, stands at 9.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.8 times, while the price to sales ratio stands at 0.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 13.5 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Sales per share (Unadj.) Rs 1,071.5 99.8
TTM Earnings per share Rs 40.4 2.0
Diluted earnings per share Rs 4.0 2.0
Price to Cash Flow x 1.1 13.5
TTM P/E ratio x 1.0 9.7
Price / Book Value ratio x 0.5 0.8
Market Cap Rs m 1,473 14,731
Dividends per share (Unadj.) Rs 0.0 0.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for SVP GLOBAL

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.6x during FY21, from 1.6x during FY20. 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 1.2x during FY21, from 1.4x during FY20. 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 2.7% during FY21, from 6.0% during FY21. 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 5.8% during FY21, from 7.0% during FY20. 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 3.9% during FY21, from 4.7% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Current ratio x 1.6 1.6
Debtors’ Days Days 195,579,931 159,978,986
Interest coverage x 1.4 1.2
Debt to equity ratio x 2.0 1.8
Return on assets % 4.7 3.9
Return on equity % 6.0 2.7
Return on capital employed % 7.0 5.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

SVP GLOBAL Share Price Performance

Over the last one year, SVP GLOBAL share price has moved up from Rs 42.5 to Rs 116.5, registering a gain of Rs 74.0 or around 174.0%.

Overall, the S&P BSE SENSEX is up 35.6% over the year.

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

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