TRF LTD 2018-19 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

TRF LTD 2018-19 Annual Report Analysis
Mon, 23 Sep

TRF LTD 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.

TRF LTD Income Statement Analysis

  • Operating income during the year fell 20.5% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 47.8% YoY during the fiscal. Operating profit margins witnessed a growth and down at 21.4% in FY19 as against 32.6% in FY18.
  • Depreciation charges decreased by 7.4% and finance costs increased by 29.5% YoY, respectively.
  • Other income grew by 138.7% YoY.
  • Net profit for the year declined by 37.6% YoY.
  • Net profit margins during the year grew from 37.6% in FY18 to 28.9% in FY19.

TRF LTD Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 4,393 3,492 -20.5%
Other income Rs m 49 117 138.7%
Total Revenues Rs m 4,442 3,609 -18.8%
Gross profit Rs m -1,434 -749 -47.8%
Depreciation Rs m 50 46 -7.4%
Interest Rs m 490 634 29.5%
Profit before tax Rs m -1,924 -1,312 -31.8%
Tax Rs m -180 14 -107.5%
Profit after tax Rs m -1,670 -1,042 -37.6%
Gross profit margin % -32.6 -21.4
Effective tax rate % 9.4 -1.0
Net profit margin % -37.6 -28.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



TRF LTD Balance Sheet Analysis

  • The company's current liabilities during FY19 down at Rs 6 billion as compared to Rs 12 billion in FY18, thereby witnessing an decrease of -48.4%.
  • Long-term debt down at Rs 248 million as compared to Rs 341 million during FY18, a fall of 27.3%.
  • Current assets fell 43% and stood at Rs 5 billion, while fixed assets fell 41% and stood at Rs 1 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 7 billion as against Rs 11 billion during FY18, thereby witnessing a fall of 38%.

TRF LTD Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m -2,008 -6 -99.7
 
Current Liabilities Rs m 12,422 6,412 -48.4
Long-term Debt Rs m 341 248 -27.3
Total Liabilities Rs m 10,909 6,806 -37.6
 
Current assets Rs m 8,421 4,796 -43.0
Fixed Assets Rs m 1,945 1,140 -41.4
Total Assets Rs m 10,909 6,806 -37.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



TRF LTD Cash Flow Statement Analysis

  • TRF LTD's cash flow from operating activities (CFO) during FY19 stood at Rs -1 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 1 billion, an improvement of 484.1% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -109 million, an improvement of 84% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 162 million from the Rs 104 million net cash flows seen during FY18.

TRF LTD 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 552 -1,070 -
Cash Flow from Investing Activities Rs m 230 1,343 484.1%
Cash Flow from Financing Activities Rs m -700 -109 -
Net Cash Flow Rs m 104 162 55.9%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for TRF LTD

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -94.7, an improvement from the EPS of Rs -151.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 106.2, stands at -2.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at -343.6 times, while the price to sales ratio stands at 0.6 times.
  • The company's price to cash flow (P/CF) ratio stood at -1.0 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 399.4 317.5
TTM Earnings per share Rs -151.8 -94.7
Diluted earnings per share Rs -151.8 -94.7
Price to Cash Flow x -0.7 -1.0
TTM P/E ratio x -2.7 -2.7
Price / Book Value ratio x -1.4 -343.6
Market Cap Rs m 1,168 1,168
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 TRF LTD

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.7x during FY19, from 0.7x 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 -1.1x during FY19, from -2.9x 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 improved and stood at 17,655.9% during FY19, from 83.1% 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 -163.3% during FY19, from 81.6% 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 improved and stood at -6.0% during FY19, from -10.8% 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 0.7 0.7
Debtors’ Days Days 316 313
Interest coverage x -2.9 -1.1
Debt to equity ratio x -0.2 -41.9
Return on assets % -10.8 -6.0
Return on equity % 83.1 17,655.9
Return on capital employed % 81.6 -163.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how TRF LTD has performed over the last 5 years, please visit here.

TRF LTD Share Price Performance

Over the last one year, TRF LTD share price has moved down from Rs 185.6 to Rs 106.2, registering a loss of Rs 79.4 or around 42.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 19,035.1 (up 5.3%). Over the last one year it has moved up from 18,058.2 to 19,035.1, a gain of 977 points (up 5.4%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

(To know more, check out historical annual results for TRF LTD and quarterly results for TRF LTD)

Equitymaster requests your view! Post a comment on "TRF LTD 2018-19 Annual Report Analysis". Click here!

  

Related Views on News

Mazagon Dock Shipbuilders IPO: Should You Apply? (IPO)

Sep 29, 2020

Should you bet on this public sector defence shipbuilder?

TRF LTD Announces Quarterly Results (1QFY20); Net Profit Up 134.3% (Quarterly Result Update)

Jul 15, 2019 | Updated on Jul 15, 2019

For the quarter ended June 2019, TRF LTD has posted a net profit of Rs 123 m (up 134.3% YoY). Sales on the other hand came in at Rs 691 m (down 19.7% YoY). Read on for a complete analysis of TRF LTD's quarterly results.

More Views on News

Most Popular

Is Intraday Trading For You?(Fast Profits Daily)

May 13, 2021

Do you think you have what it takes to be an intraday trader? Find out in this video.

My Secret to Find Breakthrough Stocks(Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

Are the Stock Markets Deaf to Covid Agony?(Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

The Key to Profit from India's EV Revolution(Profit Hunter)

May 7, 2021

Stocks you must consider investing in before buying your first electric vehicle.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

TRACK TRF

COMPARE TRF WITH

MARKET STATS