CREST VENTURES 2017-18 Annual Report Analysis

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CREST VENTURES 2017-18 Annual Report Analysis
Thu, 3 Jan

CREST VENTURES 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.

CREST VENTURES Income Statement Analysis

  • Operating income during the year rose 101.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 348.6% YoY during the fiscal. Operating profit margins witnessed a fall and down at 68.2% in FY18 as against 30.6% in FY17.
  • Depreciation charges increased by 85.9% and finance costs decreased by 13.6% YoY, respectively.
  • Other income declined by 58.7% YoY.
  • Net profit for the year grew by 146.9% YoY.
  • Net profit margins during the year grew from 77.6% in FY17 to 97.7% in FY18.

CREST VENTURES Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 476 956 101.0%
Other income Rs m 15 6 -58.7%
Total Revenues Rs m 491 962 96.1%
Gross profit Rs m 145 652 348.6%
Depreciation Rs m 7 13 85.9%
Interest Rs m 93 80 -13.6%
Profit before tax Rs m 61 565 831.3%
Tax Rs m 9 65 623.8%
Profit after tax Rs m 381 940 146.9%
Gross profit margin % 30.6 68.2
Effective tax rate % 14.7 11.4
Net profit margin % 77.6 97.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



CREST VENTURES Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 170 million as compared to Rs 159 million in FY17, thereby witnessing an increase of 6.4%.
  • Long-term debt stood at Rs 624 million as compared to Rs 567 million during FY17, a growth of 10.2%.
  • Current assets fell 19% and stood at Rs 631 million, while fixed assets fell 1% and stood at Rs 397 million in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 5 billion as against Rs 4 billion during FY17, thereby witnessing a growth of 24%.

CREST VENTURES Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 3,336 4,260 27.7
 
Current Liabilities Rs m 159 170 6.4
Long-term Debt Rs m 567 624 10.2
Total Liabilities Rs m 4,203 5,203 23.8
 
Current assets Rs m 781 631 -19.3
Fixed Assets Rs m 401 397 -0.9
Total Assets Rs m 4,203 5,203 23.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



CREST VENTURES Cash Flow Statement Analysis

  • CREST VENTURES's cash flow from operating activities (CFO) during FY18 stood at Rs -118 million, an improvement of 42.4% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 48 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 49 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -21 million from the Rs 8 million net cash flows seen during FY17.

CREST VENTURES 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 -83 -118 -
Cash Flow from Investing Activities Rs m -271 48 -
Cash Flow from Financing Activities Rs m 358 49 -86.3%
Net Cash Flow Rs m 8 -21 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for CREST VENTURES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.6, an improvement from the EPS of Rs 1.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 148.6, stands at 4.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 13.1 times, while the price to sales ratio stands at 58.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 5.0 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 1.8 3.7
TTM Earnings per share Rs 1.5 3.6
Diluted earnings per share Rs 21.9 54.1
Price to Cash Flow x 657.6 5.0
TTM P/E ratio x 69.6 4.6
Price / Book Value ratio x 8.6 13.1
Market Cap Rs m 38,705 2,580
Dividends per share (Unadj.) Rs 0.5 0.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for CREST VENTURES

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 3.7x during FY18, from 4.9x 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 8.1x during FY18, from 1.7x 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 22.1% during FY18, from 11.4% 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 improved and stood at 22.2% during FY18, from 12.4% 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 improved and stood at 19.6% during FY18, from 11.3% 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 4.9 3.7
Debtors’ Days Days 37 21
Interest coverage x 1.7 8.1
Debt to equity ratio x 0.2 0.1
Return on assets % 11.3 19.6
Return on equity % 11.4 22.1
Return on capital employed % 12.4 22.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

CREST VENTURES Share Price Performance

Over the last one year, CREST VENTURES share price has moved up from Rs 267.6 to Rs 148.6, registering a loss of Rs 119.1 or around 44.5%.

Overall, the S&P BSE SENSEX is up 5.9% over the year.

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

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Related Views on News

CREST VENTURES Announces Quarterly Results (4QFY19); Net Profit Down 8.8% (Quarterly Result Update)

May 15, 2019 | Updated on May 15, 2019

For the quarter ended March 2019, CREST VENTURES has posted a net profit of Rs 103 m (down 8.8% YoY). Sales on the other hand came in at Rs 137 m (up 28.4% YoY). Read on for a complete analysis of CREST VENTURES's quarterly results.

CREST VENTURES Announces Quarterly Results (3QFY19); Net Profit Down 68.7% (Quarterly Result Update)

Feb 22, 2019 | Updated on Feb 22, 2019

For the quarter ended December 2018, CREST VENTURES has posted a net profit of Rs 63 m (down 68.7% YoY). Sales on the other hand came in at Rs 133 m (down 25.9% YoY). Read on for a complete analysis of CREST VENTURES's quarterly results.

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