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TVS SRICHAKRA 2017-18 Annual Report Analysis
Sat, 31 Mar

TVS SRICHAKRA 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.

TVS SRICHAKRA Income Statement Analysis

  • Operating income during the year rose 17.4% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 10.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 12.1% in FY18 as against 15.9% in FY17.
  • Depreciation charges increased by 22.4% and finance costs increased by 43.8% YoY, respectively.
  • Other income grew by 234.9% YoY.
  • Net profit for the year declined by 21.6% YoY.
  • Net profit margins during the year declined from 8.4% in FY17 to 5.6% in FY18.

TVS SRICHAKRA Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 17,901 21,019 17.4%
Other income Rs m 46 154 234.9%
Total Revenues Rs m 17,947 21,173 18.0%
Gross profit Rs m 2,842 2,534 -10.8%
Depreciation Rs m 560 686 22.4%
Interest Rs m 217 313 43.8%
Profit before tax Rs m 2,111 1,690 -19.9%
Tax Rs m 614 516 -15.9%
Profit after tax Rs m 1,497 1,173 -21.6%
Gross profit margin % 15.9 12.1
Effective tax rate % 29.1 30.6
Net profit margin % 8.4 5.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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TVS SRICHAKRA Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 6 billion as compared to Rs 7 billion in FY17, thereby witnessing an decrease of -5.3%.
  • Long-term debt down at Rs 77 million as compared to Rs 238 million during FY17, a fall of 67.8%.
  • Current assets fell 6% and stood at Rs 6 billion, while fixed assets rose 11% and stood at Rs 8 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 14 billion as against Rs 14 billion during FY17, thereby witnessing a growth of 3%.

TVS SRICHAKRA Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 5,611 6,389 13.9
 
Current Liabilities Rs m 6,738 6,378 -5.3
Long-term Debt Rs m 238 77 -67.8
Total Liabilities Rs m 13,910 14,261 2.5
 
Current assets Rs m 6,890 6,443 -6.5
Fixed Assets Rs m 7,020 7,818 11.4
Total Assets Rs m 13,910 14,261 2.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



TVS SRICHAKRA Cash Flow Statement Analysis

  • TVS SRICHAKRA's cash flow from operating activities (CFO) during FY18 stood at Rs 2 billion, an improvement of 191.1% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -1 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -786 million on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 46 million from the Rs -27 million net cash flows seen during FY17.

TVS SRICHAKRA 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 637 1,855 191.1%
Cash Flow from Investing Activities Rs m -2,151 -1,023 -
Cash Flow from Financing Activities Rs m 1,487 -786 -
Net Cash Flow Rs m -27 46 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for TVS SRICHAKRA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 153.2, an decline from the EPS of Rs 195.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 3,215.5, stands at 20.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.9 times, while the price to sales ratio stands at 1.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 15.0 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 2,336.9 2,744.0
TTM Earnings per share Rs 195.4 153.2
Diluted earnings per share Rs 195.5 153.2
Price to Cash Flow x 13.0 15.0
TTM P/E ratio x 17.2 20.9
Price / Book Value ratio x 4.4 4.4
Market Cap Rs m 24,792 27,868
Dividends per share (Unadj.) Rs 50.7 40.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for TVS SRICHAKRA

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.0x during FY18, from 1.0x 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 6.4x during FY18, from 10.7x 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 18.4% during FY18, from 26.7% 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 31.0% during FY18, from 39.8% 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 10.4% during FY18, from 12.3% 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 1.0 1.0
Debtors’ Days Days 4 4
Interest coverage x 10.7 6.4
Debt to equity ratio x 0.0 0.0
Return on assets % 12.3 10.4
Return on equity % 26.7 18.4
Return on capital employed % 39.8 31.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how TVS SRICHAKRA has performed over the last 5 years, please visit here.

TVS SRICHAKRA Share Price Performance

Over the last one year, TVS SRICHAKRA share price has moved down from Rs 3,490.1 to Rs 3,215.5, registering a loss of Rs 274.6 or around 7.9%.

Overall, the S&P BSE SENSEX is up 12.1% over the year.

(To know more, check out historical annual results for TVS SRICHAKRA and quarterly results for TVS SRICHAKRA)

Annual Report FAQs

What is the current share price of TVS SRICHAKRA?

TVS SRICHAKRA currently trades at Rs 3,905.4 per share. You can check out the latest share price performance of TVS SRICHAKRA here...

What was the revenue of TVS SRICHAKRA in FY18? How does it compare to earlier years?

The revenues of TVS SRICHAKRA stood at Rs 21,173 m in FY18, which was up 18.0% compared to Rs 17,947 m reported in FY17.

TVS SRICHAKRA's revenue has grown from Rs 20,302 m in FY16 to Rs 21,173 m in FY18.

Over the past 3 years, the revenue of TVS SRICHAKRA has grown at a CAGR of 2.1%.

What was the net profit of TVS SRICHAKRA in FY18? How does it compare to earlier years?

The net profit of TVS SRICHAKRA stood at Rs 1,173 m in FY18, which was down -21.6% compared to Rs 1,497 m reported in FY17.

This compares to a net profit of Rs 1,912 m in FY16.

Over the past 3 years, TVS SRICHAKRA net profit has grown at a CAGR of -21.7%.

What does the cash flow statement of TVS SRICHAKRA 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 TVS SRICHAKRA reveals:

  • Cash flow from operations increased in FY18 and stood at Rs 1,855 m as compared to Rs 637 m in FY17.
  • Cash flow from investments increased in FY18 and stood at Rs -1,023 m as compared to Rs -2,151 m in FY17.
  • Cash flow from financial activity decreased in FY18 and stood at Rs -786 m as compared to Rs 1,487 m in FY17.

Here's the cash flow statement of TVS SRICHAKRA for the past 3 years.

(Rs m)FY16FY17FY18
From Operations4,0036371,855
From Investments-1,199-2,151-1,023
From Financial Activity-2,7151,487-786
Net Cashflow90-2746

What does the Key Ratio analysis of TVS SRICHAKRA 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 TVS SRICHAKRA reveals:

  • Operating profit margins witnessed a fall and stood at 12.1% in FY18 as against 15.9% in FY17.
  • Net profit margins declined from 8.4% in FY17 to 5.6% in FY18.
  • Debt to Equity ratio for FY18 stood at 0.0 as compared to 0.0 in FY17.

Here's the ratio/financial analysis of TVS SRICHAKRA for the past 3 years.

 FY16FY17FY18
Operating Profit Margin (%)16.315.912.1
Net Profit Margin (%)9.58.45.6
Debt to Equity Ratio (x)0.10.00.0

Read: Latest Annual Report Analysis of TVS SRICHAKRA

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1 Responses to "TVS SRICHAKRA 2017-18 Annual Report Analysis"

keerthana

Dec 20, 2019

equity master have provided all relevant information regarding the analysis of the report on 17-18. which made easy for external viewers to access the information in better way. yet i am in need of the financial report.

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