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TAKE SOLUTIONS 2018-19 Annual Report Analysis

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TAKE SOLUTIONS 2018-19 Annual Report Analysis
Thu, 18 Jul

TAKE SOLUTIONS has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

TAKE SOLUTIONS Income Statement Analysis

  • Operating income during the year rose 28.5% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 25.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 18.8% in FY19 as against 19.3% in FY18.
  • Depreciation charges increased by 47.4% and finance costs increased by 20.5% YoY, respectively.
  • Other income grew by 67.7% YoY.
  • Net profit for the year grew by 11.6% YoY.
  • Net profit margins during the year declined from 10.0% in FY18 to 8.7% in FY19.

TAKE SOLUTIONS Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 15,872 20,390 28.5%
Other income Rs m 64 108 67.7%
Total Revenues Rs m 15,937 20,498 28.6%
Gross profit Rs m 3,065 3,835 25.1%
Depreciation Rs m 1,042 1,535 47.4%
Interest Rs m 208 250 20.5%
Profit before tax Rs m 1,880 2,157 14.7%
Tax Rs m 281 373 32.6%
Profit after tax Rs m 1,599 1,784 11.6%
Gross profit margin % 19.3 18.8
Effective tax rate % 15.0 17.3
Net profit margin % 10.0 8.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



TAKE SOLUTIONS Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 7 billion as compared to Rs 4 billion in FY18, thereby witnessing an increase of 74.5%.
  • Long-term debt down at Rs 389 million as compared to Rs 546 million during FY18, a fall of 28.7%.
  • Current assets fell 0% and stood at Rs 12 billion, while fixed assets rose 24% and stood at Rs 3 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 23 billion as against Rs 18 billion during FY18, thereby witnessing a growth of 27%.

TAKE SOLUTIONS Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 13,283 15,182 14.3
 
Current Liabilities Rs m 4,147 7,237 74.5
Long-term Debt Rs m 546 389 -28.7
Total Liabilities Rs m 18,436 23,339 26.6
 
Current assets Rs m 11,777 11,719 -0.5
Fixed Assets Rs m 2,135 2,652 24.2
Total Assets Rs m 18,436 23,339 26.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



TAKE SOLUTIONS Cash Flow Statement Analysis

  • TAKE SOLUTIONS's cash flow from operating activities (CFO) during FY19 stood at Rs 1 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -5 billion, an improvement of 171.1% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs 999 million on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -3 billion from the Rs 2 billion net cash flows seen during FY18.

TAKE SOLUTIONS Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 1,209 1,036 -14.3%
Cash Flow from Investing Activities Rs m -1,788 -4,847 -
Cash Flow from Financing Activities Rs m 3,015 999 -66.9%
Net Cash Flow Rs m 2,434 -2,704 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for TAKE SOLUTIONS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 12.1, an improvement from the EPS of Rs 10.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 120.7, stands at 8.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.9 times, while the price to sales ratio stands at 1.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 4.5 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 107.3 137.8
TTM Earnings per share Rs 10.8 12.1
Diluted earnings per share Rs 13.1 14.6
Price to Cash Flow x 6.8 4.5
TTM P/E ratio x 10.0 8.3
Price / Book Value ratio x 1.7 1.9
Market Cap Rs m 17,855 14,774
Dividends per share (Unadj.) Rs 1.6 1.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for TAKE SOLUTIONS

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.6x during FY19, from 2.8x during FY18. 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 9.6x during FY19, from 10.1x during FY18. 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 11.8% during FY19, from 12.0% during FY19. 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 15.5% during FY19, from 15.1% during FY18. 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 8.7% during FY19, from 9.8% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 2.8 1.6
Debtors’ Days Days 108 94
Interest coverage x 10.1 9.6
Debt to equity ratio x 0.0 0.0
Return on assets % 9.8 8.7
Return on equity % 12.0 11.8
Return on capital employed % 15.1 15.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how TAKE SOLUTIONS has performed over the last 5 years, please visit here.

TAKE SOLUTIONS Share Price Performance

Over the last one year, TAKE SOLUTIONS share price has moved down from Rs 242.4 to Rs 120.7, registering a loss of Rs 121.7 or around 50.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,659.4 (down 0.3%). Over the last one year it has moved up from 14,470.3 to 15,659.4, a gain of 1,189 points (up 8.2%).

Overall, the S&P BSE SENSEX is up 7.2% over the year.

(To know more, check out historical annual results for TAKE SOLUTIONS and quarterly results for TAKE SOLUTIONS)

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TAKE SOLUTIONS Announces Quarterly Results (1QFY20); Net Profit Down 14.9% (Quarterly Result Update)

Aug 13, 2019 | Updated on Aug 13, 2019

For the quarter ended June 2019, TAKE SOLUTIONS has posted a net profit of Rs 461 m (down 14.9% YoY). Sales on the other hand came in at Rs 6 bn (up 24.6% YoY). Read on for a complete analysis of TAKE SOLUTIONS's quarterly results.

TAKE SOLUTIONS Announces Quarterly Results (4QFY19); Net Profit Down 40.5% (Quarterly Result Update)

May 21, 2019 | Updated on May 21, 2019

For the quarter ended March 2019, TAKE SOLUTIONS has posted a net profit of Rs 271 m (down 40.5% YoY). Sales on the other hand came in at Rs 5 bn (up 17.6% YoY). Read on for a complete analysis of TAKE SOLUTIONS's quarterly results.

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