VOLTAMP TRANSFORMERS 2020-21 Annual Report Analysis

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VOLTAMP TRANSFORMERS 2020-21 Annual Report Analysis
Tue, 2 Nov

VOLTAMP TRANSFORMERS 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.

VOLTAMP TRANSFORMERS Income Statement Analysis

  • Operating income during the year fell 19.4% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 25.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 11.2% in FY21 as against 12.2% in FY20.
  • Depreciation charges decreased by 1.6% and finance costs decreased by 17.0% YoY, respectively.
  • Other income grew by 291.8% YoY.
  • Net profit for the year grew by 25.6% YoY.
  • Net profit margins during the year grew from 10.2% in FY20 to 14.7% in FY21.

VOLTAMP TRANSFORMERS Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 8,586 6,923 -19.4%
Other income Rs m 184 723 291.8%
Total Revenues Rs m 8,770 7,646 -12.8%
Gross profit Rs m 1,046 776 -25.8%
Depreciation Rs m 90 89 -1.6%
Interest Rs m 7 6 -17.0%
Profit before tax Rs m 1,134 1,405 23.9%
Tax Rs m 240 282 17.8%
Profit after tax Rs m 894 1,122 25.6%
Gross profit margin % 12.2 11.2
Effective tax rate % 21.2 20.1
Net profit margin % 10.2 14.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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VOLTAMP TRANSFORMERS Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 653 million as compared to Rs 606 million in FY20, thereby witnessing an increase of 7.7%.
  • Current assets rose 13% and stood at Rs 4 billion, while fixed assets rose 11% and stood at Rs 5 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 9 billion as against Rs 8 billion during FY20, thereby witnessing a growth of 12%.

VOLTAMP TRANSFORMERS Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 7,482 8,341 11.5
 
Current Liabilities Rs m 606 653 7.7
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 8,143 9,100 11.8
 
Current assets Rs m 3,186 3,612 13.4
Fixed Assets Rs m 4,957 5,489 10.7
Total Assets Rs m 8,143 9,100 11.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



VOLTAMP TRANSFORMERS Cash Flow Statement Analysis

  • VOLTAMP TRANSFORMERS's cash flow from operating activities (CFO) during FY21 stood at Rs 188 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs 207 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -253 million, an improvement of 8% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 143 million from the Rs -54 million net cash flows seen during FY20.

VOLTAMP TRANSFORMERS 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 1,078 188 -82.6%
Cash Flow from Investing Activities Rs m -857 207 -
Cash Flow from Financing Activities Rs m -275 -253 -
Net Cash Flow Rs m -54 143 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for VOLTAMP TRANSFORMERS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 110.9, an improvement from the EPS of Rs 88.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,603.2, stands at 20.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.3 times, while the price to sales ratio stands at 1.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 19.1 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 848.4 684.1
TTM Earnings per share Rs 88.3 110.9
Diluted earnings per share Rs 61.8 77.6
Price to Cash Flow x 16.5 19.1
TTM P/E ratio x 14.2 20.3
Price / Book Value ratio x 1.5 1.3
Market Cap Rs m 16,219 23,184
Dividends per share (Unadj.) Rs 25.0 25.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for VOLTAMP TRANSFORMERS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 5.5x during FY21, from 5.3x 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 improved and stood at 234.3x during FY21, from 157.4x 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 13.5% during FY21, from 11.9% 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 improved and stood at 16.9% during FY21, from 15.2% 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 12.4% during FY21, from 11.1% 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 5.3 5.5
Debtors’ Days Days 639 900
Interest coverage x 157.4 234.3
Debt to equity ratio x 0.0 0.0
Return on assets % 11.1 12.4
Return on equity % 11.9 13.5
Return on capital employed % 15.2 16.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how VOLTAMP TRANSFORMERS has performed over the last 5 years, please visit here.

VOLTAMP TRANSFORMERS Share Price Performance

Over the last one year, VOLTAMP TRANSFORMERS share price has moved up from Rs 987.3 to Rs 1,603.2, registering a gain of Rs 615.9 or around 62.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 27,225.7 (up 0.8%). Over the last one year it has moved up from 14,234.2 to 27,225.7, a gain of 12,992 points (up 91.3%).

Overall, the S&P BSE SENSEX is up 51.0% over the year.

(To know more, check out historical annual results for VOLTAMP TRANSFORMERS and quarterly results for VOLTAMP TRANSFORMERS)

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Related Views on News

VOLTAMP TRANSFORMERS Announces Quarterly Results (4QFY20); Net Profit Down 64.1% (Quarterly Result Update)

Jun 11, 2020 | Updated on Jun 11, 2020

For the quarter ended March 2020, VOLTAMP TRANSFORMERS has posted a net profit of Rs 115 m (down 64.1% YoY). Sales on the other hand came in at Rs 2 bn (down 13.0% YoY). Read on for a complete analysis of VOLTAMP TRANSFORMERS's quarterly results.

VOLTAMP TRANSFORMERS Announces Quarterly Results (3QFY20); Net Profit Up 57.6% (Quarterly Result Update)

Feb 17, 2020 | Updated on Feb 17, 2020

For the quarter ended December 2019, VOLTAMP TRANSFORMERS has posted a net profit of Rs 350 m (up 57.6% YoY). Sales on the other hand came in at Rs 3 bn (up 16.8% YoY). Read on for a complete analysis of VOLTAMP TRANSFORMERS's quarterly results.

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