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TILAKNAGAR IND. 2017-18 Annual Report Analysis

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TILAKNAGAR IND. 2017-18 Annual Report Analysis
Tue, 18 Dec

TILAKNAGAR IND. 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.

TILAKNAGAR IND. Income Statement Analysis

  • Operating income during the year rose 3.1% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 103.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 0.6% in FY18 as against 18.8% in FY17.
  • Depreciation charges decreased by 2.2% and finance costs decreased by 3.4% YoY, respectively.
  • Other income grew by 729.9% YoY.
  • Net profit for the year declined by 45.9% YoY.
  • Net profit margins during the year grew from 54.1% in FY17 to 26.9% in FY18.

TILAKNAGAR IND. Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 5,131 5,291 3.1%
Other income Rs m 40 333 729.9%
Total Revenues Rs m 5,171 5,624 8.8%
Gross profit Rs m -965 31 -103.2%
Depreciation Rs m 381 373 -2.2%
Interest Rs m 1,572 1,519 -3.4%
Profit before tax Rs m -2,879 -1,529 -46.9%
Tax Rs m -83 -17 -79.2%
Profit after tax Rs m -2,796 -1,511 -45.9%
Gross profit margin % -18.8 0.6
Effective tax rate % 2.9 1.1
Net profit margin % -54.1 -26.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



TILAKNAGAR IND. Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 13 billion as compared to Rs 13 billion in FY17, thereby witnessing an increase of 1.9%.
  • Long-term debt down at Rs 1 million as compared to Rs 2 billion during FY17, a fall of 99.9%.
  • Current assets fell 24% and stood at Rs 5 billion, while fixed assets rose 9% and stood at Rs 7 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 13 billion as against Rs 14 billion during FY17, thereby witnessing a fall of 5%.

TILAKNAGAR IND. Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 204 -1,300 -736.2
 
Current Liabilities Rs m 12,769 13,007 1.9
Long-term Debt Rs m 1,901 1 -99.9
Total Liabilities Rs m 13,504 12,820 -5.1
 
Current assets Rs m 6,609 5,030 -23.9
Fixed Assets Rs m 6,424 7,007 9.1
Total Assets Rs m 13,504 12,820 -5.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



TILAKNAGAR IND. Cash Flow Statement Analysis

  • TILAKNAGAR IND.'s cash flow from operating activities (CFO) during FY18 stood at Rs 2 billion, an improvement of 574.2% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -78 million, an improvement of 233.2% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -1 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 620 million from the Rs -46 million net cash flows seen during FY17.

TILAKNAGAR IND. 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 259 1,748 574.2%
Cash Flow from Investing Activities Rs m -24 -78 -
Cash Flow from Financing Activities Rs m -282 -1,050 -
Net Cash Flow Rs m -46 620 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for TILAKNAGAR IND.

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -12.1, an improvement from the EPS of Rs -22.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 15.0, stands at -1.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at -1.7 times, while the price to sales ratio stands at 0.4 times.
  • The company's price to cash flow (P/CF) ratio stood at -1.6 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 41.1 42.4
TTM Earnings per share Rs -22.4 -12.1
Diluted earnings per share Rs -22.4 -12.1
Price to Cash Flow x -0.8 -1.6
TTM P/E ratio x -1.2 -1.2
Price / Book Value ratio x 9.9 -1.7
Market Cap Rs m 1,871 1,870
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for TILAKNAGAR IND.

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.4x during FY18, from 0.5x 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 0.0x during FY18, from -0.8x 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 116.2% during FY18, from -1,367.8% 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 0.7% during FY18, from -62.0% 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 0.1% during FY18, from -9.1% 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 0.5 0.4
Debtors’ Days Days 106 119
Interest coverage x -0.8 0.0
Debt to equity ratio x 9.3 0.0
Return on assets % -9.1 0.1
Return on equity % -1,367.8 116.2
Return on capital employed % -62.0 0.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how TILAKNAGAR IND. has performed over the last 5 years, please visit here.

TILAKNAGAR IND. Share Price Performance

Over the last one year, TILAKNAGAR IND. share price has moved up from Rs 20.3 to Rs 15.0, registering a loss of Rs 5.3 or around 26.1%.

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

(To know more, check out historical annual results for TILAKNAGAR IND. and quarterly results for TILAKNAGAR IND.)

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For the quarter ended December 2018, TILAKNAGAR IND. has posted a net profit of Rs 490 m (down 195.5% YoY). Sales on the other hand came in at Rs 4 bn (up 96.0% YoY). Read on for a complete analysis of TILAKNAGAR IND.'s quarterly results.

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