TTK PRESTIGE 2018-19 Annual Report Analysis

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TTK PRESTIGE 2018-19 Annual Report Analysis
Tue, 23 Jul

TTK PRESTIGE 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.

TTK PRESTIGE Income Statement Analysis

  • Operating income during the year rose 13.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 18.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.9% in FY19 as against 13.3% in FY18.
  • Depreciation charges increased by 3.3% and finance costs increased by 10.0% YoY, respectively.
  • Other income grew by 103.1% YoY.
  • Net profit for the year declined by 27.0% YoY.
  • Net profit margins during the year declined from 14.0% in FY18 to 9.0% in FY19.

TTK PRESTIGE Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 18,649 21,069 13.0%
Other income Rs m 124 252 103.1%
Total Revenues Rs m 18,773 21,322 13.6%
Gross profit Rs m 2,474 2,920 18.0%
Depreciation Rs m 256 265 3.3%
Interest Rs m 41 45 10.0%
Profit before tax Rs m 2,302 2,863 24.4%
Tax Rs m 956 940 -1.8%
Profit after tax Rs m 2,635 1,924 -27.0%
Gross profit margin % 13.3 13.9
Effective tax rate % 41.6 32.8
Net profit margin % 14.0 9.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



TTK PRESTIGE Balance Sheet Analysis

  • The company's current liabilities during FY19 down at Rs 4 billion as compared to Rs 4 billion in FY18, thereby witnessing an decrease of -6.4%.
  • Long-term debt down at Rs 543 million as compared to Rs 923 million during FY18, a fall of 41.2%.
  • Current assets rose 2% and stood at Rs 11 billion, while fixed assets rose 6% and stood at Rs 5 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 17 billion as against Rs 16 billion during FY18, thereby witnessing a growth of 5%.

TTK PRESTIGE Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 10,197 11,663 14.4
 
Current Liabilities Rs m 4,103 3,840 -6.4
Long-term Debt Rs m 923 543 -41.2
Total Liabilities Rs m 15,693 16,519 5.3
 
Current assets Rs m 10,473 10,715 2.3
Fixed Assets Rs m 4,943 5,226 5.7
Total Assets Rs m 15,693 16,519 5.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



TTK PRESTIGE Cash Flow Statement Analysis

  • TTK PRESTIGE's cash flow from operating activities (CFO) during FY19 stood at Rs 940 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -2 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -843 million, an improvement of 25% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 95 million from the Rs 110 million net cash flows seen during FY18.

TTK PRESTIGE 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 1,268 940 -25.9%
Cash Flow from Investing Activities Rs m -31 -2 -
Cash Flow from Financing Activities Rs m -1,127 -843 -
Net Cash Flow Rs m 110 95 -13.7%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for TTK PRESTIGE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 166.5, an decline from the EPS of Rs 228.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 5,980.0, stands at 24.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 7.1 times, while the price to sales ratio stands at 3.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 31.7 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 1,614.6 1,824.2
TTM Earnings per share Rs 228.1 166.5
Diluted earnings per share Rs 227.1 165.8
Price to Cash Flow x 23.9 31.7
TTM P/E ratio x 24.5 24.7
Price / Book Value ratio x 8.4 7.1
Market Cap Rs m 69,069 69,368
Dividends per share (Unadj.) Rs 30.0 30.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for TTK PRESTIGE

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.8x during FY19, from 2.6x 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 improved and stood at 64.6x during FY19, from 57.3x 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 16.5% during FY19, from 25.8% 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 declined and down at 23.8% during FY19, from 32.7% 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 11.9% during FY19, from 17.1% 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 2.6 2.8
Debtors’ Days Days 51 53
Interest coverage x 57.3 64.6
Debt to equity ratio x 0.1 0.0
Return on assets % 17.1 11.9
Return on equity % 25.8 16.5
Return on capital employed % 32.7 23.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how TTK PRESTIGE has performed over the last 5 years, please visit here.

TTK PRESTIGE Share Price Performance

Over the last one year, TTK PRESTIGE share price has moved up from Rs 4,874.3 to Rs 5,980.0, registering a gain of Rs 1,105.7 or around 22.7%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 22,987.8 (up 0.9%). Over the last one year it has moved up from 20,232.6 to 22,987.8, a gain of 2,755 points (up 13.6%).

Overall, the S&P BSE SENSEX is up 3.8% over the year.

(To know more, check out historical annual results for TTK PRESTIGE and quarterly results for TTK PRESTIGE)

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Related Views on News

TTK PRESTIGE Announces Quarterly Results (3QFY21); Net Profit Up 42.1% (Quarterly Result Update)

Feb 11, 2021 | Updated on Feb 11, 2021

For the quarter ended December 2020, TTK PRESTIGE has posted a net profit of Rs 865 m (up 42.1% YoY). Sales on the other hand came in at Rs 7 bn (up 24.4% YoY). Read on for a complete analysis of TTK PRESTIGE's quarterly results.

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