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TRIVENI ENGG. 2017-18 Annual Report Analysis

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TRIVENI ENGG. 2017-18 Annual Report Analysis
Tue, 29 Jan

TRIVENI ENGG. 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.

TRIVENI ENGG. Income Statement Analysis

  • Operating income during the year rose 19.3% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 47.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 8.2% in FY18 as against 18.5% in FY17.
  • Depreciation charges decreased by 3.2% and finance costs decreased by 32.6% YoY, respectively.
  • Other income declined by 43.1% YoY.
  • Net profit for the year declined by 52.9% YoY.
  • Net profit margins during the year declined from 8.9% in FY17 to 3.5% in FY18.

TRIVENI ENGG. Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 28,246 33,707 19.3%
Other income Rs m 271 154 -43.1%
Total Revenues Rs m 28,517 33,861 18.7%
Gross profit Rs m 5,215 2,759 -47.1%
Depreciation Rs m 572 554 -3.2%
Interest Rs m 1,266 853 -32.6%
Profit before tax Rs m 3,649 1,506 -58.7%
Tax Rs m 492 497 1.1%
Profit after tax Rs m 2,530 1,191 -52.9%
Gross profit margin % 18.5 8.2
Effective tax rate % 13.5 33.0
Net profit margin % 8.9 3.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



TRIVENI ENGG. Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 20 billion as compared to Rs 19 billion in FY17, thereby witnessing an increase of 1.9%.
  • Long-term debt down at Rs 350 million as compared to Rs 3 billion during FY17, a fall of 87.3%.
  • Current assets fell 5% and stood at Rs 20 billion, while fixed assets rose 0% and stood at Rs 10 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 30 billion as against Rs 31 billion during FY17, thereby witnessing a fall of 2%.

TRIVENI ENGG. Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 8,354 9,464 13.3
 
Current Liabilities Rs m 19,320 19,680 1.9
Long-term Debt Rs m 2,754 350 -87.3
Total Liabilities Rs m 31,076 30,322 -2.4
 
Current assets Rs m 20,928 19,882 -5.0
Fixed Assets Rs m 9,642 9,685 0.4
Total Assets Rs m 31,076 30,322 -2.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



TRIVENI ENGG. Cash Flow Statement Analysis

  • TRIVENI ENGG.'s cash flow from operating activities (CFO) during FY18 stood at Rs 6 billion, an improvement of 330.5% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -409 million, an improvement of 5.3% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -6 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -29 million from the Rs 33 million net cash flows seen during FY17.

TRIVENI ENGG. 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 1,442 6,209 330.5%
Cash Flow from Investing Activities Rs m -388 -409 -
Cash Flow from Financing Activities Rs m -1,021 -5,829 -
Net Cash Flow Rs m 33 -29 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for TRIVENI ENGG.

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 4.6, an decline from the EPS of Rs 9.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 42.6, stands at 143.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.0 times, while the price to sales ratio stands at 0.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 14.0 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 109.5 130.7
TTM Earnings per share Rs 9.8 4.6
Diluted earnings per share Rs 4.9 2.3
Price to Cash Flow x 3.8 14.0
TTM P/E ratio x 71.6 143.1
Price / Book Value ratio x 2.2 2.0
Market Cap Rs m 10,976 21,946
Dividends per share (Unadj.) Rs 0.0 0.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for TRIVENI ENGG.

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.0x during FY18, from 1.1x 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 2.8x during FY18, from 3.9x 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 declined and down at 12.6% during FY18, from 30.3% 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 declined and down at 25.9% during FY18, from 38.6% 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 declined and down at 6.7% during FY18, from 12.2% 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 1.1 1.0
Debtors’ Days Days 36 34
Interest coverage x 3.9 2.8
Debt to equity ratio x 0.3 0.0
Return on assets % 12.2 6.7
Return on equity % 30.3 12.6
Return on capital employed % 38.6 25.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how TRIVENI ENGG. has performed over the last 5 years, please visit here.

TRIVENI ENGG. Share Price Performance

Over the last one year, TRIVENI ENGG. share price has moved up from Rs 61.9 to Rs 42.6, registering a loss of Rs 19.3 or around 31.2%.

Overall, the S&P BSE SENSEX is down 2.0% over the year.

(To know more, check out historical annual results for TRIVENI ENGG. and quarterly results for TRIVENI ENGG.)

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Related Views on News

TRIVENI ENGG. Announces Quarterly Results (3QFY19); Net Profit Up 4.9% (Quarterly Result Update)

Feb 25, 2019 | Updated on Feb 25, 2019

For the quarter ended December 2018, TRIVENI ENGG. has posted a net profit of Rs 630 m (up 4.9% YoY). Sales on the other hand came in at Rs 9 bn (up 16.9% YoY). Read on for a complete analysis of TRIVENI ENGG.'s quarterly results.

TRIVENI ENGG. Announces Quarterly Results (2QFY19); Net Profit Down 67.5% (Quarterly Result Update)

Nov 12, 2018 | Updated on Nov 12, 2018

For the quarter ended September 2018, TRIVENI ENGG. has posted a net profit of Rs 311 m (down 67.5% YoY). Sales on the other hand came in at Rs 7 bn (down 35.2% YoY). Read on for a complete analysis of TRIVENI ENGG.'s quarterly results.

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