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UCAL FUEL 2020-21 Annual Report Analysis
Wed, 31 Mar

UCAL FUEL has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

UCAL FUEL Income Statement Analysis

  • Operating income during the year fell 6.1% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 25.2% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 9.7% in FY21 as against 12.2% in FY20.
  • Depreciation charges increased by 2.4% and finance costs increased by 4.6% YoY, respectively.
  • Other income grew by 5.0% YoY.
  • Net profit for the year grew by 36.5% YoY.
  • Net profit margins during the year grew from 2.9% in FY20 to 4.2% in FY21.

UCAL FUEL Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 7,315 6,867 -6.1%
Other income Rs m 123 129 5.0%
Total Revenues Rs m 7,438 6,996 -5.9%
Gross profit Rs m 889 665 -25.2%
Depreciation Rs m 395 405 2.4%
Interest Rs m 267 279 4.6%
Profit before tax Rs m 350 110 -68.6%
Tax Rs m 138 -179 -229.1%
Profit after tax Rs m 212 289 36.5%
Gross profit margin % 12.2 9.7
Effective tax rate % 39.5 -162.5
Net profit margin % 2.9 4.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

UCAL FUEL Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 3 billion as compared to Rs 3 billion in FY20, thereby witnessing an increase of 6.3%.
  • Long-term debt stood at Rs 1 billion as compared to Rs 684 million during FY20, a growth of 66.3%.
  • Current assets rose 52% and stood at Rs 3 billion, while fixed assets fell 7% and stood at Rs 5 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 8 billion as against Rs 8 billion during FY20, thereby witnessing a growth of 8%.

UCAL FUEL Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 3,310 3,584 8.3
 
Current Liabilities Rs m 3,273 3,479 6.3
Long-term Debt Rs m 684 1,138 66.3
Total Liabilities Rs m 7,618 8,223 8.0
 
Current assets Rs m 1,972 2,991 51.7
Fixed Assets Rs m 5,646 5,232 -7.3
Total Assets Rs m 7,618 8,223 8.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



UCAL FUEL Cash Flow Statement Analysis

  • UCAL FUEL's cash flow from operating activities (CFO) during FY21 stood at Rs 105 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -92 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs 305 million, an improvement of 147% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 296 million from the Rs 78 million net cash flows seen during FY20.

UCAL FUEL Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Mar-20 Mar-21
Cash Flow from Operating Activities Rs m 1,335 105 -92.2%
Cash Flow from Investing Activities Rs m -719 -92 -
Cash Flow from Financing Activities Rs m -650 305 -
Net Cash Flow Rs m 78 296 278.0%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for UCAL FUEL

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 13.1, an improvement from the EPS of Rs 9.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 140.4, stands at 10.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.9 times, while the price to sales ratio stands at 0.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 3.9 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Sales per share (Unadj.) Rs 330.9 310.6
TTM Earnings per share Rs 9.6 13.1
Diluted earnings per share Rs 9.6 13.1
Price to Cash Flow x 2.6 3.9
TTM P/E ratio x 7.6 10.8
Price / Book Value ratio x 0.8 0.8
Market Cap Rs m 2,655 2,696
Dividends per share (Unadj.) Rs 0.0 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for UCAL FUEL

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 0.9x during FY21, from 0.6x during FY20. 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 1.4x during FY21, from 2.3x during FY20. 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 8.1% during FY21, from 6.4% during FY21. 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 8.2% during FY21, from 15.4% during FY20. 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 6.9% during FY21, from 6.3% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Current ratio x 0.6 0.9
Debtors’ Days Days 405 707
Interest coverage x 2.3 1.4
Debt to equity ratio x 0.2 0.3
Return on assets % 6.3 6.9
Return on equity % 6.4 8.1
Return on capital employed % 15.4 8.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how UCAL FUEL has performed over the last 5 years, please visit here.

UCAL FUEL Share Price Performance

Over the last one year, UCAL FUEL share price has moved up from Rs 72.5 to Rs 140.4, registering a gain of Rs 67.9 or around 93.6%.

Overall, the S&P BSE SENSEX is up 74.1% over the year.

(To know more, check out historical annual results for UCAL FUEL and quarterly results for UCAL FUEL)

Annual Report FAQs

What is the current share price of UCAL FUEL?

UCAL FUEL currently trades at Rs 144.0 per share. You can check out the latest share price performance of UCAL FUEL here...

What was the revenue of UCAL FUEL in FY21? How does it compare to earlier years?

The revenues of UCAL FUEL stood at Rs 6,996 m in FY21, which was down -5.9% compared to Rs 7,438 m reported in FY20.

UCAL FUEL's revenue has fallen from Rs 7,191 m in FY17 to Rs 6,996 m in FY21.

Over the past 5 years, the revenue of UCAL FUEL has grown at a CAGR of -0.7%.

What was the net profit of UCAL FUEL in FY21? How does it compare to earlier years?

The net profit of UCAL FUEL stood at Rs 289 m in FY21, which was up 36.5% compared to Rs 212 m reported in FY20.

This compares to a net profit of Rs 458 m in FY19 and a net profit of Rs 1,012 m in FY18.

Over the past 5 years, UCAL FUEL net profit has grown at a CAGR of -5.3%.

What does the cash flow statement of UCAL FUEL 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 UCAL FUEL reveals:

  • Cash flow from operations decreased in FY21 and stood at Rs 105 m as compared to Rs 1,335 m in FY20.
  • Cash flow from investments increased in FY21 and stood at Rs -92 m as compared to Rs -719 m in FY20.
  • Cash flow from financial activity increased in FY21 and stood at Rs 305 m as compared to Rs -650 m in FY20.

Here's the cash flow statement of UCAL FUEL for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations9807831,3041,335105
From Investments-188-449-444-719-92
From Financial Activity-714-487-482-650305
Net Cashflow24-15837578296

What does the Key Ratio analysis of UCAL FUEL 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 UCAL FUEL reveals:

  • Operating profit margins witnessed a fall and stood at 9.7% in FY21 as against 12.2% in FY20.
  • Net profit margins grew from 2.9% in FY20 to 4.2% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.3 as compared to 0.2 in FY20.

Here's the ratio/financial analysis of UCAL FUEL for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)14.415.614.312.29.7
Net Profit Margin (%)5.112.85.32.94.2
Debt to Equity Ratio (x)0.50.20.20.20.3

Read: Latest Annual Report Analysis of UCAL FUEL

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