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TTK PRESTIGE 2020-21 Annual Report Analysis
Wed, 31 Mar

TTK PRESTIGE 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.

TTK PRESTIGE Income Statement Analysis

  • Operating income during the year rose 5.6% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 31.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 15.2% in FY21 as against 12.3% in FY20.
  • Depreciation charges increased by 9.3% and finance costs decreased by 28.6% YoY, respectively.
  • Other income grew by 16.4% YoY.
  • Net profit for the year grew by 28.3% YoY.
  • Net profit margins during the year grew from 8.9% in FY20 to 10.8% in FY21.

TTK PRESTIGE Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 20,730 21,901 5.6%
Other income Rs m 247 287 16.4%
Total Revenues Rs m 20,977 22,188 5.8%
Gross profit Rs m 2,545 3,338 31.2%
Depreciation Rs m 366 400 9.3%
Interest Rs m 81 58 -28.6%
Profit before tax Rs m 2,344 3,168 35.1%
Tax Rs m 499 800 60.4%
Profit after tax Rs m 1,845 2,368 28.3%
Gross profit margin % 12.3 15.2
Effective tax rate % 21.3 25.2
Net profit margin % 8.9 10.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Potential 33x Opportunity: 3 Next-Generation Defence Stocks

TTK PRESTIGE Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 4 billion as compared to Rs 4 billion in FY20, thereby witnessing an increase of 2.4%.
  • Long-term debt stood at Rs 404 million as compared to Rs 186 million during FY20, a growth of 116.9%.
  • Current assets rose 17% and stood at Rs 14 billion, while fixed assets rose 5% and stood at Rs 6 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 20 billion as against Rs 18 billion during FY20, thereby witnessing a growth of 13%.

TTK PRESTIGE Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 13,063 15,050 15.2
 
Current Liabilities Rs m 4,121 4,220 2.4
Long-term Debt Rs m 186 404 116.9
Total Liabilities Rs m 18,015 20,384 13.1
 
Current assets Rs m 11,881 13,960 17.5
Fixed Assets Rs m 6,134 6,424 4.7
Total Assets Rs m 18,015 20,384 13.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



TTK PRESTIGE Cash Flow Statement Analysis

  • TTK PRESTIGE's cash flow from operating activities (CFO) during FY21 stood at Rs 3 billion, an improvement of 11.4% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -2 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -821 million, an improvement of 14% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 227 million from the Rs -257 million net cash flows seen during FY20.

TTK PRESTIGE 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 2,531 2,820 11.4%
Cash Flow from Investing Activities Rs m -1,837 -1,772 -
Cash Flow from Financing Activities Rs m -951 -821 -
Net Cash Flow Rs m -257 227 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for TTK PRESTIGE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 170.8, an improvement from the EPS of Rs 133.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 7,286.3, stands at 415.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 67.1 times, while the price to sales ratio stands at 4.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 31.3 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 1,495.7 1,580.2
TTM Earnings per share Rs 133.1 170.8
Diluted earnings per share Rs 13.3 17.1
Price to Cash Flow x 307.1 31.3
TTM P/E ratio x 367.9 415.8
Price / Book Value ratio x 6.7 5.8
Market Cap Rs m 87,466 86,670
Dividends per share (Unadj.) Rs 2.0 5.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for TTK PRESTIGE

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 3.3x during FY21, from 2.9x 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 55.5x during FY21, from 29.8x 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 15.7% during FY21, from 14.1% 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 20.9% during FY21, from 18.3% 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 11.9% during FY21, from 10.7% 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 2.9 3.3
Debtors’ Days Days 5 5
Interest coverage x 29.8 55.5
Debt to equity ratio x 0.0 0.0
Return on assets % 10.7 11.9
Return on equity % 14.1 15.7
Return on capital employed % 18.3 20.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, 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 4,898.2 to Rs 7,286.3, registering a gain of Rs 2,388.1 or around 48.8%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 32,825.9 (up 0.8%). Over the last one year it has moved up from 19,363.0 to 32,825.9, a gain of 13,463 points (up 69.5%).

Overall, the S&P BSE SENSEX is up 74.1% over the year.

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

Annual Report FAQs

What is the current share price of TTK PRESTIGE?

TTK PRESTIGE currently trades at Rs 887.4 per share. You can check out the latest share price performance of TTK PRESTIGE here...

What was the revenue of TTK PRESTIGE in FY21? How does it compare to earlier years?

The revenues of TTK PRESTIGE stood at Rs 22,188 m in FY21, which was up 5.8% compared to Rs 20,977 m reported in FY20.

TTK PRESTIGE's revenue has grown from Rs 17,155 m in FY17 to Rs 22,188 m in FY21.

Over the past 5 years, the revenue of TTK PRESTIGE has grown at a CAGR of 6.6%.

What was the net profit of TTK PRESTIGE in FY21? How does it compare to earlier years?

The net profit of TTK PRESTIGE stood at Rs 2,368 m in FY21, which was up 28.3% compared to Rs 1,845 m reported in FY20.

This compares to a net profit of Rs 1,924 m in FY19 and a net profit of Rs 2,635 m in FY18.

Over the past 5 years, TTK PRESTIGE net profit has grown at a CAGR of 12.0%.

What does the cash flow statement of TTK PRESTIGE reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of TTK PRESTIGE reveals:

  • Cash flow from operations increased in FY21 and stood at Rs 2,820 m as compared to Rs 2,531 m in FY20.
  • Cash flow from investments increased in FY21 and stood at Rs -1,772 m as compared to Rs -1,837 m in FY20.
  • Cash flow from financial activity increased in FY21 and stood at Rs -821 m as compared to Rs -951 m in FY20.

Here's the cash flow statement of TTK PRESTIGE for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations9411,2689402,5312,820
From Investments-1,686-31-2-1,837-1,772
From Financial Activity1,057-1,127-843-951-821
Net Cashflow31311095-257227

What does the Key Ratio analysis of TTK PRESTIGE reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of TTK PRESTIGE reveals:

  • Operating profit margins witnessed a fall and down at 15.2% in FY21 as against 12.3% in FY20.
  • Net profit margins grew from 8.9% in FY20 to 10.8% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.0 as compared to 0.0 in FY20.

Here's the ratio/financial analysis of TTK PRESTIGE for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)12.520.414.012.315.2
Net Profit Margin (%)8.814.19.18.910.8
Debt to Equity Ratio (x)0.10.10.00.00.0

Read: Latest Annual Report Analysis of TTK PRESTIGE

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