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SAVITA OIL TECH. 2017-18 Annual Report Analysis

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SAVITA OIL TECH. 2017-18 Annual Report Analysis
Tue, 18 Dec

SAVITA OIL TECH. 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.

SAVITA OIL TECH. Income Statement Analysis

  • Operating income during the year rose 19.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 20.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 10.4% in FY18 as against 10.4% in FY17.
  • Depreciation charges decreased by 8.5% and finance costs increased by 0.3% YoY, respectively.
  • Other income declined by 26.8% YoY.
  • Net profit for the year grew by 34.8% YoY.
  • Net profit margins during the year grew from 6.2% in FY17 to 7.0% in FY18.

SAVITA OIL TECH. Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 14,972 17,827 19.1%
Other income Rs m 131 96 -26.8%
Total Revenues Rs m 15,102 17,923 18.7%
Gross profit Rs m 1,551 1,862 20.0%
Depreciation Rs m 283 259 -8.5%
Interest Rs m 137 138 0.3%
Profit before tax Rs m 1,262 1,561 23.7%
Tax Rs m 325 299 -8.2%
Profit after tax Rs m 936 1,262 34.8%
Gross profit margin % 10.4 10.4
Effective tax rate % 25.8 19.1
Net profit margin % 6.2 7.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



SAVITA OIL TECH. Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 5 billion as compared to Rs 5 billion in FY17, thereby witnessing an increase of 14.3%.
  • Long-term debt down at Rs 22 million as compared to Rs 55 million during FY17, a fall of 60.5%.
  • Current assets rose 17% and stood at Rs 11 billion, while fixed assets fell 8% and stood at Rs 2 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 13 billion as against Rs 11 billion during FY17, thereby witnessing a growth of 12%.

SAVITA OIL TECH. Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 6,612 7,423 12.3
 
Current Liabilities Rs m 4,591 5,250 14.3
Long-term Debt Rs m 55 22 -60.5
Total Liabilities Rs m 11,441 12,844 12.3
 
Current assets Rs m 9,047 10,600 17.2
Fixed Assets Rs m 2,313 2,120 -8.4
Total Assets Rs m 11,441 12,844 12.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



SAVITA OIL TECH. Cash Flow Statement Analysis

  • SAVITA OIL TECH.'s cash flow from operating activities (CFO) during FY18 stood at Rs 971 million, an improvement of 77.7% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -94 million, an improvement of 199.7% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -749 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 128 million from the Rs -40 million net cash flows seen during FY17.

SAVITA OIL TECH. 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 547 971 77.7%
Cash Flow from Investing Activities Rs m -32 -94 -
Cash Flow from Financing Activities Rs m -555 -749 -
Net Cash Flow Rs m -40 128 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for SAVITA OIL TECH.

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 88.1, an improvement from the EPS of Rs 64.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 908.9, stands at 11.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.5 times, while the price to sales ratio stands at 1.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 8.6 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 1,025.5 1,244.9
TTM Earnings per share Rs 64.1 88.1
Diluted earnings per share Rs 65.4 88.1
Price to Cash Flow x 10.9 8.6
TTM P/E ratio x 11.9 11.6
Price / Book Value ratio x 1.6 2.5
Market Cap Rs m 13,269 13,015
Dividends per share (Unadj.) Rs 13.5 2.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for SAVITA OIL TECH.

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.0x during FY18, from 2.0x 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 12.4x during FY18, from 10.2x 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 17.0% during FY18, from 14.2% 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 22.8% during FY18, from 21.0% 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 10.9% during FY18, from 9.4% 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 2.0 2.0
Debtors’ Days Days 103 110
Interest coverage x 10.2 12.4
Debt to equity ratio x 0.0 0.0
Return on assets % 9.4 10.9
Return on equity % 14.2 17.0
Return on capital employed % 21.0 22.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

SAVITA OIL TECH. Share Price Performance

Over the last one year, SAVITA OIL TECH. share price has moved up from Rs 1,375.0 to Rs 908.9, registering a loss of Rs 466.2 or around 33.9%.

Overall, the S&P BSE SENSEX is up 7.4% over the year.

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

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For the quarter ended March 2019, SAVITA OIL has posted a net profit of Rs 334 m (down 17.1% YoY). Sales on the other hand came in at Rs 5 bn (up 18.8% YoY). Read on for a complete analysis of SAVITA OIL's quarterly results.

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