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

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  


SIRCA PAINTS INDIA 2021-22 Annual Report Analysis
Sat, 17 Sep

SIRCA PAINTS INDIA has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

SIRCA PAINTS INDIA Income Statement Analysis

  • Operating income during the year rose 39.7% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 208.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 18.9% in FY22 as against 8.6% in FY21.
  • Depreciation charges increased by 12.8% and finance costs decreased by 46.4% YoY, respectively.
  • Other income declined by 68.9% YoY.
  • Net profit for the year grew by 67.2% YoY.
  • Net profit margins during the year grew from 11.6% in FY21 to 13.9% in FY22.

SIRCA PAINTS INDIA Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 1,432 2,000 39.7%
Other income Rs m 141 44 -68.9%
Total Revenues Rs m 1,573 2,044 29.9%
Gross profit Rs m 123 378 208.3%
Depreciation Rs m 37 41 12.8%
Interest Rs m 2 1 -46.4%
Profit before tax Rs m 226 379 68.3%
Tax Rs m 60 102 71.2%
Profit after tax Rs m 166 277 67.2%
Gross profit margin % 8.6 18.9
Effective tax rate % 26.5 26.9
Net profit margin % 11.6 13.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

SIRCA PAINTS INDIA Balance Sheet Analysis

  • The company's current liabilities during FY22 down at Rs 468 million as compared to Rs 590 million in FY21, thereby witnessing an decrease of -20.8%.
  • Current assets fell 0% and stood at Rs 2 billion, while fixed assets rose 27% and stood at Rs 569 million in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 3 billion as against Rs 3 billion during FY21, thereby witnessing a growth of 4%.

SIRCA PAINTS INDIA Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 2,016 2,251 11.7
 
Current Liabilities Rs m 590 468 -20.8
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 2,598 2,714 4.5
 
Current assets Rs m 2,151 2,146 -0.2
Fixed Assets Rs m 447 569 27.3
Total Assets Rs m 2,598 2,714 4.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



SIRCA PAINTS INDIA Cash Flow Statement Analysis

  • SIRCA PAINTS INDIA's cash flow from operating activities (CFO) during FY22 stood at Rs 352 million, an improvement of 83.1% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -111 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -174 million on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs 67 million from the Rs 339 million net cash flows seen during FY21.

SIRCA PAINTS INDIA Cash Flow Statement 2021-22

Particulars No. of months 12 12 % Change
Year Ending Mar-21 Mar-22
Cash Flow from Operating Activities Rs m 192 352 83.1%
Cash Flow from Investing Activities Rs m 148 -111 -
Cash Flow from Financing Activities Rs m -1 -174 -
Net Cash Flow Rs m 339 67 -80.2%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for SIRCA PAINTS INDIA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 10.1, an improvement from the EPS of Rs 6.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 598.3, stands at 44.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 7.3 times, while the price to sales ratio stands at 8.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 39.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 52.3 73.0
TTM Earnings per share Rs 6.1 10.1
Diluted earnings per share Rs 6.1 10.1
Price to Cash Flow x 0.0 39.1
TTM P/E ratio x 0.0 44.1
Price / Book Value ratio x 3.6 5.5
Market Cap Rs m 7,222 12,442
Dividends per share (Unadj.) Rs 1.5 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for SIRCA PAINTS INDIA

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 4.6x during FY22, from 3.6x during FY21. 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 388.2x during FY22, from 124.3x during FY21. 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 12.3% during FY22, from 8.2% during FY22. 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 16.9% during FY22, from 11.3% during FY21. 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 10.2% during FY22, from 6.5% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 3.6 4.6
Debtors’ Days Days 1,097 833
Interest coverage x 124.3 388.2
Debt to equity ratio x 0.0 0.0
Return on assets % 6.5 10.2
Return on equity % 8.2 12.3
Return on capital employed % 11.3 16.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how SIRCA PAINTS INDIA has performed over the last 5 years, please visit here.

SIRCA PAINTS INDIA Share Price Performance

Over the last one year, SIRCA PAINTS INDIA share price has moved down from Rs 0.0 to Rs 0.0, registering a loss of Rs 0.0 or around 0.0%.

Overall, the NIFTY 50 is down 1.9% over the year.

(To know more, check out historical annual results for SIRCA PAINTS INDIA and quarterly results for SIRCA PAINTS INDIA)

Annual Report FAQs

What is the current share price of SIRCA PAINTS INDIA?

SIRCA PAINTS INDIA currently trades at Rs 284.4 per share. You can check out the latest share price performance of SIRCA PAINTS INDIA here...

What was the revenue of SIRCA PAINTS INDIA in FY22? How does it compare to earlier years?

The revenues of SIRCA PAINTS INDIA stood at Rs 2,044 m in FY22, which was up 29.9% compared to Rs 1,573 m reported in FY21.

SIRCA PAINTS INDIA's revenue has grown from Rs 936 m in FY18 to Rs 2,044 m in FY22.

Over the past 5 years, the revenue of SIRCA PAINTS INDIA has grown at a CAGR of 21.6%.

What was the net profit of SIRCA PAINTS INDIA in FY22? How does it compare to earlier years?

The net profit of SIRCA PAINTS INDIA stood at Rs 277 m in FY22, which was up 67.2% compared to Rs 166 m reported in FY21.

This compares to a net profit of Rs 252 m in FY20 and a net profit of Rs 259 m in FY19.

Over the past 5 years, SIRCA PAINTS INDIA net profit has grown at a CAGR of 9.3%.

What does the cash flow statement of SIRCA PAINTS INDIA 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 SIRCA PAINTS INDIA reveals:

  • Cash flow from operations increased in FY22 and stood at Rs 352 m as compared to Rs 192 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -111 m as compared to Rs 148 m in FY21.
  • Cash flow from financial activity decreased in FY22 and stood at Rs -174 m as compared to Rs -1 m in FY21.

Here's the cash flow statement of SIRCA PAINTS INDIA for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations-13123-76192352
From Investments-129-71348148-111
From Financial Activity155684-85-1-174
Net Cashflow1394-11233967

What does the Key Ratio analysis of SIRCA PAINTS INDIA 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 SIRCA PAINTS INDIA reveals:

  • Operating profit margins witnessed a fall and down at 18.9% in FY22 as against 8.6% in FY21.
  • Net profit margins grew from 11.6% in FY21 to 13.9% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.0 as compared to 0.0 in FY21.

Here's the ratio/financial analysis of SIRCA PAINTS INDIA for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)29.127.423.08.618.9
Net Profit Margin (%)21.722.318.611.613.9
Debt to Equity Ratio (x)0.00.00.00.00.0

Read: Latest Annual Report Analysis of SIRCA PAINTS INDIA

Equitymaster requests your view! Post a comment on "SIRCA PAINTS INDIA 2021-22 Annual Report Analysis". Click here!