X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
SML ISUZU 2017-18 Annual Report Analysis

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

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

SML ISUZU 2017-18 Annual Report Analysis
Fri, 17 Aug

SML ISUZU 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.

SML ISUZU Income Statement Analysis

  • Operating income during the year fell 16.3% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 58.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 4.0% in FY18 as against 8.1% in FY17.
  • Depreciation charges and finance costs increased by 19.2% YoY and 70.2% YoY, respectively.
  • Other income declined by 25.1% YoY.
  • Net profit for the year declined by 86.5% YoY.
  • Net profit margins during the year declined from 4.6% in FY17 to 0.7% in FY18.

SML ISUZU Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 13,562 11,351 -16.3%
Other income Rs m 42 31 -25.1%
Total Revenues Rs m 13,603 11,382 -16.3%
Gross profit Rs m 1,100 453 -58.8%
Depreciation Rs m 238 284 19.2%
Interest Rs m 62 105 70.2%
Profit before tax Rs m 841 95 -88.8%
Tax Rs m 211 10 -95.5%
Profit after tax Rs m 630 85 -86.5%
Gross profit margin % 8.1 4.0
Effective tax rate % 25.1 10.1
Net profit margin % 4.6 0.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



SML ISUZU Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 4 billion as compared to Rs 3 billion in FY17, thereby witnessing an increase of 45.3%.
  • Long-term debt stood at Rs 1 billion as compared to Rs 350 million during FY17, a growth of 238.4%.
  • Current assets rose 24% and stood at Rs 6 billion, while fixed assets rose 38% and stood at Rs 4 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 10 billion as against Rs 8 billion during FY17, thereby witnessing a growth of 26%.

SML ISUZU Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 4,038 4,003 -0.9
 
Current Liabilities Rs m 2,807 4,077 45.3
Long-term Debt Rs m 350 1,185 238.4
Total Liabilities Rs m 7,854 9,867 25.6
 
Current assets Rs m 4,501 5,563 23.6
Fixed Assets Rs m 2,908 3,999 37.5
Total Assets Rs m 7,854 9,867 25.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



SML ISUZU Cash Flow Statement Analysis

  • SML ISUZU's cash flow from operating activities (CFO) during FY18 stood at Rs -328 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -983 million, an improvement of 10.2% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 1 billion, an improvement of 532% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 146 million from the Rs -23 million net cash flows seen during FY17.

SML ISUZU 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 1,206 -328 -
Cash Flow from Investing Activities Rs m -892 -983 -
Cash Flow from Financing Activities Rs m -337 1,456 -
Net Cash Flow Rs m -23 146 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for SML ISUZU

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 5.9, an decline from the EPS of Rs 43.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 870.0, stands at 57.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.8 times, while the price to sales ratio stands at 1.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 34.1 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 937.2 784.4
TTM Earnings per share Rs 43.5 5.9
Diluted earnings per share Rs 43.5 5.9
Price to Cash Flow x 14.5 34.1
TTM P/E ratio x 57.6 57.6
Price / Book Value ratio x 3.9 3.8
Market Cap Rs m 12,589 12,589
Dividends per share (Unadj.) Rs 8.0 1.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for SML ISUZU

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.4x during FY18, from 1.6x 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 1.9x during FY18, from 14.6x 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 declined and down at 2.1% during FY18, from 15.6% 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 declined and down at 3.9% during FY18, from 20.6% 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 declined and down at 1.9% during FY18, from 8.8% 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 1.6 1.4
Debtors’ Days Days 31 38
Interest coverage x 14.6 1.9
Debt to equity ratio x 0.1 0.3
Return on assets % 8.8 1.9
Return on equity % 15.6 2.1
Return on capital employed % 20.6 3.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how SML ISUZU has performed over the last 5 years, please visit here.

SML ISUZU Share Price Performance

Over the last one year, SML ISUZU share price has moved up from Rs 950.1 to Rs 870.0, registering a loss of Rs 80.1 or around 8.4%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 24,433.1 (up 0.7%). Over the last one year it has moved up from 23,814.2 to 24,433.1, a gain of 619 points (up 2.6%).

Overall, the S&P BSE SENSEX is up 19.4% over the year.

(To know more, check out historical annual results for SML ISUZU and quarterly results for SML ISUZU)

Equitymaster requests your view! Post a comment on "SML ISUZU 2017-18 Annual Report Analysis". Click here!

  

Related Views on News

SML ISUZU Announces Quarterly Results (3QFY19); Net Profit Down 51.6% (Quarterly Result Update)

Feb 15, 2019 | Updated on Feb 15, 2019

For the quarter ended December 2018, SML ISUZU has posted a net profit of Rs 148 m (down 51.6% YoY). Sales on the other hand came in at Rs 2 bn (up 4.6% YoY). Read on for a complete analysis of SML ISUZU's quarterly results.

SML ISUZU Announces Quarterly Results (2QFY19); Net Profit Down 130.4% (Quarterly Result Update)

Nov 27, 2018 | Updated on Nov 27, 2018

For the quarter ended September 2018, SML ISUZU has posted a net profit of Rs 77 m (down 130.4% YoY). Sales on the other hand came in at Rs 3 bn (up 30.1% YoY). Read on for a complete analysis of SML ISUZU's quarterly results.

More Views on News

Most Popular

2 Stocks from Super Investor Sanjay Bakshi's Portfolio You Can Bet On...(The 5 Minute Wrapup)

Jul 12, 2019

Despite the current fear prevailing in the markets, both these stocks have the potential to deliver in 4-5 years.

The Electric Vehicle Disruption is Great News for this Smallcap Stock(Profit Hunter)

Jul 15, 2019

While big auto makers are finding the transition difficult and crying foul, this small cap company is already leading and benefitting from the electric vehicle disruption in the auto sector.

7 Stocks to Profit From an Irreversible Trend(The 5 Minute Wrapup)

Jul 18, 2019

Credit growth is likely to accelerate in India in the next decade. Here's how you can benefit from this megatrend.

Driverless Cars are Here. And This Tiny Company is in the Lead...(The 5 Minute Wrapup)

Jul 17, 2019

This future-ready company thrives on the pace of technological change.

Here's Why This Smallcap Will Beat the Big Autos in the EV Race(Profit Hunter)

Jul 16, 2019

As the conventional auto sector faces existential crisis, my latest smallcap recommendation is all set to ride the electric vehicle disruption and rise in new age vehicles.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK SML ISUZU

  • Track your investment in SML ISUZU with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

SML ISUZU - MARUTI SUZUKI COMPARISON

COMPARE SML ISUZU WITH

MARKET STATS