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TITAGARH WAGONS 2021-22 Annual Report Analysis
Thu, 8 Sep

TITAGARH WAGONS has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

TITAGARH WAGONS Income Statement Analysis

  • Operating income during the year rose 27.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 80.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 5.8% in FY22 as against 4.1% in FY21.
  • Depreciation charges increased by 11.4% and finance costs increased by 15.0% YoY, respectively.
  • Other income grew by 0.5% YoY.
  • Net profit for the year declined by NA YoY.
  • Net profit margins during the year grew from 1.2% in FY21 to 0.0% in FY22.

TITAGARH WAGONS Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 15,206 19,308 27.0%
Other income Rs m 438 440 0.5%
Total Revenues Rs m 15,644 19,748 26.2%
Gross profit Rs m 617 1,116 80.9%
Depreciation Rs m 299 333 11.4%
Interest Rs m 812 934 15.0%
Profit before tax Rs m -56 290 NA
Tax Rs m 132 296 124.4%
Profit after tax Rs m -188 -7 NA
Gross profit margin % 4.1 5.8
Effective tax rate % -237.1 102.4
Net profit margin % -1.2 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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TITAGARH WAGONS Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 13 billion as compared to Rs 9 billion in FY21, thereby witnessing an increase of 41.2%.
  • Long-term debt down at Rs 5 billion as compared to Rs 5 billion during FY21, a fall of 7.8%.
  • Current assets rose 8% and stood at Rs 15 billion, while fixed assets rose 9% and stood at Rs 13 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 29 billion as against Rs 26 billion during FY21, thereby witnessing a growth of 8%.

TITAGARH WAGONS Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 8,389 8,421 0.4
 
Current Liabilities Rs m 9,043 12,770 41.2
Long-term Debt Rs m 5,374 4,956 -7.8
Total Liabilities Rs m 26,461 28,617 8.1
 
Current assets Rs m 14,046 15,122 7.7
Fixed Assets Rs m 12,415 13,495 8.7
Total Assets Rs m 26,461 28,617 8.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



TITAGARH WAGONS Cash Flow Statement Analysis

  • TITAGARH WAGONS's cash flow from operating activities (CFO) during FY22 stood at Rs 546 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -695 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -527 million on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs -707 million from the Rs 507 million net cash flows seen during FY21.

TITAGARH WAGONS Cash Flow Statement 2021-22

Particulars No. of months 12 12 % Change
Year Ending Mar-21 Mar-22
Cash Flow from Operating Activities Rs m 677 546 -19.4%
Cash Flow from Investing Activities Rs m -721 -695 -
Cash Flow from Financing Activities Rs m 432 -527 -
Net Cash Flow Rs m 507 -707 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for TITAGARH WAGONS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -0.1, an improvement from the EPS of Rs -1.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 171.1, stands at -112.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.4 times, while the price to sales ratio stands at 1.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 31.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 127.4 161.5
TTM Earnings per share Rs -1.6 -0.1
Diluted earnings per share Rs -1.6 -0.1
Price to Cash Flow x 48.0 31.0
TTM P/E ratio x -28.4 -112.8
Price / Book Value ratio x 0.6 1.2
Market Cap Rs m 5,184 10,099
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for TITAGARH WAGONS

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.2x during FY22, from 1.6x during FY21. 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 1.3x during FY22, from 0.9x during FY21. 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 -0.1% during FY22, from -2.2% during FY22. 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 improved and stood at 9.1% during FY22, from 5.5% during FY21. 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 3.2% during FY22, from 2.4% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 1.6 1.2
Debtors’ Days Days 1,361 1,246
Interest coverage x 0.9 1.3
Debt to equity ratio x 0.6 0.6
Return on assets % 2.4 3.2
Return on equity % -2.2 -0.1
Return on capital employed % 5.5 9.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how TITAGARH WAGONS has performed over the last 5 years, please visit here.

TITAGARH WAGONS Share Price Performance

Over the last one year, TITAGARH WAGONS share price has moved up from Rs 94.1 to Rs 171.1, registering a gain of Rs 77.1 or around 81.9%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 33,441.2 (up 0.7%). Over the last one year it has moved up from 25,522.8 to 33,441.2, a gain of 7,918 points (up 31.0%).

Overall, the S&P BSE SENSEX is up 2.4% over the year.

(To know more, check out historical annual results for TITAGARH WAGONS and quarterly results for TITAGARH WAGONS)

Annual Report FAQs

What is the current share price of TITAGARH WAGONS?

TITAGARH WAGONS currently trades at Rs 918.1 per share. You can check out the latest share price performance of TITAGARH WAGONS here...

What was the revenue of TITAGARH WAGONS in FY22? How does it compare to earlier years?

The revenues of TITAGARH WAGONS stood at Rs 19,748 m in FY22, which was up 26.2% compared to Rs 15,644 m reported in FY21.

TITAGARH WAGONS' revenue has grown from Rs 13,095 m in FY18 to Rs 19,748 m in FY22.

Over the past 5 years, the revenue of TITAGARH WAGONS has grown at a CAGR of 10.8%.

What was the net profit of TITAGARH WAGONS in FY22? How does it compare to earlier years?

The net loss of TITAGARH WAGONS stood at Rs -7 m in FY22, which was NA compared to Rs -188 m reported in FY21.

This compares to a net loss of Rs -360 m in FY20 and a net loss of Rs -225 m in FY19.

Over the past 5 years, TITAGARH WAGONS net profit has grown at a CAGR of -73.9%.

What does the cash flow statement of TITAGARH WAGONS 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 TITAGARH WAGONS reveals:

  • Cash flow from operations decreased in FY22 and stood at Rs 546 m as compared to Rs 677 m in FY21.
  • Cash flow from investments increased in FY22 and stood at Rs -695 m as compared to Rs -721 m in FY21.
  • Cash flow from financial activity decreased in FY22 and stood at Rs -527 m as compared to Rs 432 m in FY21.

Here's the cash flow statement of TITAGARH WAGONS for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations-1,211-1,2441,537677546
From Investments-256-484-96-721-695
From Financial Activity1,9052,137-2,271432-527
Net Cashflow246403-697507-707

What does the Key Ratio analysis of TITAGARH WAGONS 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 TITAGARH WAGONS reveals:

  • Operating profit margins witnessed a fall and down at 5.8% in FY22 as against 4.1% in FY21.
  • Net profit margins grew from 1.2% in FY21 to 0.0% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.6 as compared to 0.6 in FY21.

Here's the ratio/financial analysis of TITAGARH WAGONS for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)-9.2-1.00.44.15.8
Net Profit Margin (%)-11.6-1.3-2.0-1.20.0
Debt to Equity Ratio (x)0.20.70.70.60.6

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