TILAKNAGAR IND. 2020-21 Annual Report Analysis

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TILAKNAGAR IND. 2020-21 Annual Report Analysis
Fri, 19 Nov

TILAKNAGAR IND. 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.

TILAKNAGAR IND. Income Statement Analysis

  • Operating income during the year rose 80.5% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 86.6% YoY during the fiscal. Operating profit margins witnessed a growth and down at 16.9% in FY21 as against 226.8% in FY20.
  • Depreciation charges increased by 0.4% and finance costs decreased by 45.0% YoY, respectively.
  • Other income declined by 61.9% YoY.
  • Net profit for the year declined by 114.2% YoY.
  • Net profit margins during the year grew from 182.4% in FY20 to 12.4% in FY21.

TILAKNAGAR IND. Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m -1,778 -3,209 80.5%
Other income Rs m 299 114 -61.9%
Total Revenues Rs m -1,479 -3,094 109.3%
Gross profit Rs m 4,032 541 -86.6%
Depreciation Rs m 330 331 0.4%
Interest Rs m 1,289 710 -45.0%
Profit before tax Rs m 2,713 -386 -114.2%
Tax Rs m 15 -2 -111.4%
Profit after tax Rs m 2,697 -384 -114.2%
Gross profit margin % -226.8 -16.9
Effective tax rate % 0.6 0.5
Net profit margin % -182.4 12.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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TILAKNAGAR IND. 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 10.2%.
  • Long-term debt down at Rs 5 billion as compared to Rs 5 billion during FY20, a fall of 6.2%.
  • Current assets fell 9% and stood at Rs 3 billion, while fixed assets fell 5% and stood at Rs 7 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 10 billion as against Rs 11 billion during FY20, thereby witnessing a fall of 6%.

TILAKNAGAR IND. Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m -224 -596 166.1
 
Current Liabilities Rs m 3,553 3,917 10.2
Long-term Debt Rs m 4,894 4,590 -6.2
Total Liabilities Rs m 10,801 10,115 -6.3
 
Current assets Rs m 3,733 3,391 -9.1
Fixed Assets Rs m 7,068 6,724 -4.9
Total Assets Rs m 10,801 10,115 -6.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



TILAKNAGAR IND. Cash Flow Statement Analysis

  • TILAKNAGAR IND.'s cash flow from operating activities (CFO) during FY21 stood at Rs 855 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -3 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -776 million, an improvement of 63% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 75 million from the Rs -128 million net cash flows seen during FY20.

TILAKNAGAR IND. 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 1,908 855 -55.2%
Cash Flow from Investing Activities Rs m 46 -3 -
Cash Flow from Financing Activities Rs m -2,083 -776 -
Net Cash Flow Rs m -128 75 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for TILAKNAGAR IND.

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -3.1, an decline from the EPS of Rs 21.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 76.9, stands at -865.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at -5.3 times, while the price to sales ratio stands at -1.0 times.
  • The company's price to cash flow (P/CF) ratio stood at -202.9 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 -14.2 -25.6
TTM Earnings per share Rs 21.6 -3.1
Diluted earnings per share Rs 19.4 -2.8
Price to Cash Flow x 3.2 -202.9
TTM P/E ratio x -777.4 -865.7
Price / Book Value ratio x -8.9 -5.3
Market Cap Rs m 9,617 10,708
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for TILAKNAGAR IND.

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 0.9x during FY21, from 1.1x 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 deteriorated and stood at 0.5x during FY21, from 3.1x 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 64.4% during FY21, from -1,204.2% 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 declined and down at 8.1% during FY21, from 85.7% 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 declined and down at 3.2% during FY21, from 36.9% 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 1.1 0.9
Debtors’ Days Days -4,996 -2,060
Interest coverage x 3.1 0.5
Debt to equity ratio x -21.8 -7.7
Return on assets % 36.9 3.2
Return on equity % -1,204.2 64.4
Return on capital employed % 85.7 8.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, 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 17.8 to Rs 76.9, registering a gain of Rs 59.1 or around 333.0%.

Overall, the S&P BSE SENSEX is up 35.7% over the year.

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

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