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

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  


THIRUMALAI CHEMICALS 2018-19 Annual Report Analysis
Sun, 31 Mar

THIRUMALAI CHEMICALS 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.

THIRUMALAI CHEMICALS Income Statement Analysis

  • Operating income during the year fell 2.0% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 28.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 16.3% in FY19 as against 22.5% in FY18.
  • Depreciation charges increased by 19.0% and finance costs decreased by 5.1% YoY, respectively.
  • Other income grew by 70.0% YoY.
  • Net profit for the year declined by 33.4% YoY.
  • Net profit margins during the year declined from 13.2% in FY18 to 9.0% in FY19.

THIRUMALAI CHEMICALS Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 12,864 12,610 -2.0%
Other income Rs m 68 115 70.0%
Total Revenues Rs m 12,931 12,726 -1.6%
Gross profit Rs m 2,896 2,059 -28.9%
Depreciation Rs m 306 364 19.0%
Interest Rs m 128 122 -5.1%
Profit before tax Rs m 2,530 1,689 -33.3%
Tax Rs m 826 553 -33.0%
Profit after tax Rs m 1,704 1,136 -33.4%
Gross profit margin % 22.5 16.3
Effective tax rate % 32.6 32.7
Net profit margin % 13.2 9.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

THIRUMALAI CHEMICALS Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 3 billion as compared to Rs 2 billion in FY18, thereby witnessing an increase of 51.2%.
  • Long-term debt stood at Rs 784 million as compared to Rs 500 million during FY18, a growth of 56.9%.
  • Current assets rose 12% and stood at Rs 5 billion, while fixed assets rose 21% and stood at Rs 7 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 11 billion as against Rs 10 billion during FY18, thereby witnessing a growth of 17%.

THIRUMALAI CHEMICALS Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 5,730 6,679 16.6
 
Current Liabilities Rs m 2,170 3,281 51.2
Long-term Debt Rs m 500 784 56.9
Total Liabilities Rs m 9,732 11,408 17.2
 
Current assets Rs m 4,106 4,595 11.9
Fixed Assets Rs m 5,626 6,814 21.1
Total Assets Rs m 9,732 11,408 17.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



THIRUMALAI CHEMICALS Cash Flow Statement Analysis

  • THIRUMALAI CHEMICALS's cash flow from operating activities (CFO) during FY19 stood at Rs 2 billion, an improvement of 189.4% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -2 billion, an improvement of 308.4% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs 158 million, an improvement of 196% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs 291 million from the Rs 104 million net cash flows seen during FY18.

THIRUMALAI CHEMICALS 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 808 2,339 189.4%
Cash Flow from Investing Activities Rs m -540 -2,204 -
Cash Flow from Financing Activities Rs m -164 158 -
Net Cash Flow Rs m 104 291 179.3%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for THIRUMALAI CHEMICALS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 11.1, an decline from the EPS of Rs 166.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 88.9, stands at 8.0 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.4 times, while the price to sales ratio stands at 0.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 84.8 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 1,256.2 123.2
TTM Earnings per share Rs 166.4 11.1
Diluted earnings per share Rs 16.6 11.1
Price to Cash Flow x 87.0 84.8
TTM P/E ratio x 102.4 8.0
Price / Book Value ratio x 2.9 19.0
Market Cap Rs m 16,629 127,112
Dividends per share (Unadj.) Rs 2.0 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for THIRUMALAI CHEMICALS

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.4x during FY19, from 1.9x 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 deteriorated and stood at 14.9x during FY19, from 20.7x 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 declined and down at 17.0% during FY19, from 29.7% 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 24.3% during FY19, from 42.7% 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 declined and down at 11.0% during FY19, from 18.8% 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 1.9 1.4
Debtors’ Days Days 339 326
Interest coverage x 20.7 14.9
Debt to equity ratio x 0.1 0.1
Return on assets % 18.8 11.0
Return on equity % 29.7 17.0
Return on capital employed % 42.7 24.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how THIRUMALAI CHEMICALS has performed over the last 5 years, please visit here.

THIRUMALAI CHEMICALS Share Price Performance

Over the last one year, THIRUMALAI CHEMICALS share price has moved down from Rs 1,707.7 to Rs 88.9, registering a loss of Rs 1,618.9 or around 94.8%.

Overall, the S&P BSE SENSEX is up 16.3% over the year.

(To know more, check out historical annual results for THIRUMALAI CHEMICALS and quarterly results for THIRUMALAI CHEMICALS)

Annual Report FAQs

What is the current share price of THIRUMALAI CHEMICALS?

THIRUMALAI CHEMICALS currently trades at Rs 234.1 per share. You can check out the latest share price performance of THIRUMALAI CHEMICALS here...

What was the revenue of THIRUMALAI CHEMICALS in FY19? How does it compare to earlier years?

The revenues of THIRUMALAI CHEMICALS stood at Rs 12,726 m in FY19, which was down -1.6% compared to Rs 12,931 m reported in FY18.

THIRUMALAI CHEMICALS' revenue has grown from Rs 8,703 m in FY16 to Rs 12,726 m in FY19.

Over the past 4 years, the revenue of THIRUMALAI CHEMICALS has grown at a CAGR of 13.5%.

What was the net profit of THIRUMALAI CHEMICALS in FY19? How does it compare to earlier years?

The net profit of THIRUMALAI CHEMICALS stood at Rs 1,136 m in FY19, which was down -33.4% compared to Rs 1,704 m reported in FY18.

This compares to a net profit of Rs 707 m in FY17 and a net profit of Rs 322 m in FY16.

Over the past 4 years, THIRUMALAI CHEMICALS net profit has grown at a CAGR of 52.3%.

What does the cash flow statement of THIRUMALAI CHEMICALS 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 THIRUMALAI CHEMICALS reveals:

  • Cash flow from operations increased in FY19 and stood at Rs 2,339 m as compared to Rs 808 m in FY18.
  • Cash flow from investments decreased in FY19 and stood at Rs -2,204 m as compared to Rs -540 m in FY18.
  • Cash flow from financial activity increased in FY19 and stood at Rs 158 m as compared to Rs -164 m in FY18.

Here's the cash flow statement of THIRUMALAI CHEMICALS for the past 4 years.

(Rs m)FY16FY17FY18FY19
From Operations1,2571,0818082,339
From Investments-323-442-540-2,204
From Financial Activity-933-519-164158
Net Cashflow2121104291

What does the Key Ratio analysis of THIRUMALAI CHEMICALS 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 THIRUMALAI CHEMICALS reveals:

  • Operating profit margins witnessed a fall and stood at 16.3% in FY19 as against 22.5% in FY18.
  • Net profit margins declined from 13.2% in FY18 to 9.0% in FY19.
  • Debt to Equity ratio for FY19 stood at 0.1 as compared to 0.1 in FY18.

Here's the ratio/financial analysis of THIRUMALAI CHEMICALS for the past 4 years.

 FY16FY17FY18FY19
Operating Profit Margin (%)11.316.822.516.3
Net Profit Margin (%)3.77.513.29.0
Debt to Equity Ratio (x)0.10.00.10.1

Read: Latest Annual Report Analysis of THIRUMALAI CHEMICALS

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