SAVITA OIL 2020-21 Annual Report Analysis

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SAVITA OIL 2020-21 Annual Report Analysis
Thu, 18 Nov

SAVITA OIL 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.

SAVITA OIL Income Statement Analysis

  • Operating income during the year fell 6.5% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 93.4% YoY during the fiscal. Operating profit margins witnessed a fall and down at 15.7% in FY21 as against 7.6% in FY20.
  • Depreciation charges decreased by 9.2% and finance costs decreased by 55.3% YoY, respectively.
  • Other income grew by 174.0% YoY.
  • Net profit for the year grew by 134.2% YoY.
  • Net profit margins during the year grew from 4.6% in FY20 to 11.5% in FY21.

SAVITA OIL Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 20,462 19,123 -6.5%
Other income Rs m 116 318 174.0%
Total Revenues Rs m 20,578 19,441 -5.5%
Gross profit Rs m 1,554 3,004 93.4%
Depreciation Rs m 222 202 -9.2%
Interest Rs m 200 89 -55.3%
Profit before tax Rs m 1,247 3,031 143.0%
Tax Rs m 291 791 171.9%
Profit after tax Rs m 956 2,240 134.2%
Gross profit margin % 7.6 15.7
Effective tax rate % 23.3 26.1
Net profit margin % 4.6 11.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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SAVITA OIL Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 6 billion as compared to Rs 6 billion in FY20, thereby witnessing an increase of 14.2%.
  • Long-term debt down at Rs 1 million as compared to Rs 4 million during FY20, a fall of 75.4%.
  • Current assets rose 23% and stood at Rs 15 billion, while fixed assets rose 8% and stood at Rs 2 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 17 billion as against Rs 14 billion during FY20, thereby witnessing a growth of 21%.

SAVITA OIL Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 8,686 10,919 25.7
 
Current Liabilities Rs m 5,535 6,319 14.2
Long-term Debt Rs m 4 1 -75.4
Total Liabilities Rs m 14,313 17,334 21.1
 
Current assets Rs m 12,185 15,034 23.4
Fixed Assets Rs m 2,128 2,299 8.0
Total Assets Rs m 14,313 17,334 21.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



SAVITA OIL Cash Flow Statement Analysis

  • SAVITA OIL's cash flow from operating activities (CFO) during FY21 stood at Rs 1 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -835 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -195 million, an improvement of 81% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 205 million from the Rs -413 million net cash flows seen during FY20.

SAVITA OIL 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 1,770 1,238 -30.0%
Cash Flow from Investing Activities Rs m -1,161 -835 -
Cash Flow from Financing Activities Rs m -1,025 -195 -
Net Cash Flow Rs m -413 205 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for SAVITA OIL

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 159.2, an improvement from the EPS of Rs 68.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,152.2, stands at 5.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.2 times, while the price to sales ratio stands at 0.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 6.5 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 1,454.3 1,359.1
TTM Earnings per share Rs 68.0 159.2
Diluted earnings per share Rs 69.2 162.1
Price to Cash Flow x 13.8 6.5
TTM P/E ratio x 5.2 5.1
Price / Book Value ratio x 1.6 1.2
Market Cap Rs m 16,212 15,923
Dividends per share (Unadj.) Rs 20.0 15.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for SAVITA OIL

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.4x during FY21, from 2.2x 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 improved and stood at 35.0x during FY21, from 7.2x 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 improved and stood at 20.5% during FY21, from 11.0% 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 improved and stood at 28.6% during FY21, from 16.7% 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 improved and stood at 13.4% during FY21, from 8.1% 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 2.2 2.4
Debtors’ Days Days 909 1,040
Interest coverage x 7.2 35.0
Debt to equity ratio x 0.0 0.0
Return on assets % 8.1 13.4
Return on equity % 11.0 20.5
Return on capital employed % 16.7 28.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

SAVITA OIL Share Price Performance

Over the last one year, SAVITA OIL share price has moved up from Rs 703.0 to Rs 1,152.2, registering a gain of Rs 449.2 or around 63.9%.

Overall, the S&P BSE SENSEX is up 35.3% over the year.

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

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