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VIPUL DYE CHEM 2021-22 Annual Report Analysis
Thu, 8 Sep

VIPUL DYE CHEM 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.

VIPUL DYE CHEM Income Statement Analysis

  • Operating income during the year rose 12.2% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 11.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 10.6% in FY22 as against 13.6% in FY21.
  • Depreciation charges decreased by 10.3% and finance costs increased by 21.0% YoY, respectively.
  • Other income grew by 272.3% YoY.
  • Net profit for the year grew by 1.7% YoY.
  • Net profit margins during the year declined from 5.8% in FY21 to 5.2% in FY22.

VIPUL DYE CHEM Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 1,187 1,332 12.2%
Other income Rs m 7 24 272.3%
Total Revenues Rs m 1,194 1,356 13.6%
Gross profit Rs m 161 142 -11.9%
Depreciation Rs m 58 52 -10.3%
Interest Rs m 14 16 21.0%
Profit before tax Rs m 96 97 1.9%
Tax Rs m 27 28 2.5%
Profit after tax Rs m 69 70 1.7%
Gross profit margin % 13.6 10.6
Effective tax rate % 28.3 28.5
Net profit margin % 5.8 5.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

VIPUL DYE CHEM Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 669 million as compared to Rs 560 million in FY21, thereby witnessing an increase of 19.5%.
  • Long-term debt down at Rs 65 million as compared to Rs 92 million during FY21, a fall of 29.3%.
  • Current assets rose 17% and stood at Rs 861 million, while fixed assets rose 21% and stood at Rs 407 million in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 1 billion as against Rs 1 billion during FY21, thereby witnessing a growth of 19%.

VIPUL DYE CHEM Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 385 523 35.9
 
Current Liabilities Rs m 560 669 19.5
Long-term Debt Rs m 92 65 -29.3
Total Liabilities Rs m 1,069 1,268 18.5
 
Current assets Rs m 733 861 17.5
Fixed Assets Rs m 336 407 20.8
Total Assets Rs m 1,069 1,268 18.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



VIPUL DYE CHEM Cash Flow Statement Analysis

  • VIPUL DYE CHEM's cash flow from operating activities (CFO) during FY22 stood at Rs 25 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -111 million, an improvement of 610.5% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs 54 million, an improvement of 24% on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs -32 million from the Rs 7 million net cash flows seen during FY21.

VIPUL DYE CHEM 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 -21 25 -
Cash Flow from Investing Activities Rs m -16 -111 -
Cash Flow from Financing Activities Rs m 44 54 24.1%
Net Cash Flow Rs m 7 -32 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for VIPUL DYE CHEM

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 6.8, an decline from the EPS of Rs 7.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 162.4, stands at 32.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.0 times, while the price to sales ratio stands at 1.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 16.3 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 124.3 129.9
TTM Earnings per share Rs 7.2 6.8
Diluted earnings per share Rs 5.3 5.4
Price to Cash Flow x 17.3 16.3
TTM P/E ratio x 31.9 32.2
Price / Book Value ratio x 3.3 3.8
Market Cap Rs m 1,289 1,985
Dividends per share (Unadj.) Rs 0.9 0.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for VIPUL DYE CHEM

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.3x during FY22, from 1.3x 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 deteriorated and stood at 6.9x during FY22, from 8.0x 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 declined and down at 13.3% during FY22, from 17.8% 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 declined and down at 19.4% during FY22, from 22.9% 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 declined and down at 6.8% during FY22, from 7.7% 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 1.3 1.3
Debtors’ Days Days 1,088 1,168
Interest coverage x 8.0 6.9
Debt to equity ratio x 0.2 0.1
Return on assets % 7.7 6.8
Return on equity % 17.8 13.3
Return on capital employed % 22.9 19.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how VIPUL DYE CHEM has performed over the last 5 years, please visit here.

VIPUL DYE CHEM Share Price Performance

Over the last one year, VIPUL DYE CHEM share price has moved down from Rs 170.9 to Rs 162.4, registering a loss of Rs 8.6 or around 5.0%.

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

(To know more, check out historical annual results for VIPUL DYE CHEM and quarterly results for VIPUL DYE CHEM)

Annual Report FAQs

What is the current share price of VIPUL DYE CHEM?

VIPUL DYE CHEM currently trades at Rs 163.6 per share. You can check out the latest share price performance of VIPUL DYE CHEM here...

What was the revenue of VIPUL DYE CHEM in FY22? How does it compare to earlier years?

The revenues of VIPUL DYE CHEM stood at Rs 1,356 m in FY22, which was up 13.6% compared to Rs 1,194 m reported in FY21.

VIPUL DYE CHEM's revenue has grown from Rs 804 m in FY18 to Rs 1,356 m in FY22.

Over the past 5 years, the revenue of VIPUL DYE CHEM has grown at a CAGR of 14.0%.

What was the net profit of VIPUL DYE CHEM in FY22? How does it compare to earlier years?

The net profit of VIPUL DYE CHEM stood at Rs 70 m in FY22, which was up 1.7% compared to Rs 69 m reported in FY21.

This compares to a net profit of Rs 48 m in FY20 and a net profit of Rs 35 m in FY19.

Over the past 5 years, VIPUL DYE CHEM net profit has grown at a CAGR of 32.8%.

What does the cash flow statement of VIPUL DYE CHEM 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 VIPUL DYE CHEM reveals:

  • Cash flow from operations increased in FY22 and stood at Rs 25 m as compared to Rs -21 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -111 m as compared to Rs -16 m in FY21.
  • Cash flow from financial activity increased in FY22 and stood at Rs 54 m as compared to Rs 44 m in FY21.

Here's the cash flow statement of VIPUL DYE CHEM for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations-84149139-2125
From Investments-43-113-112-16-111
From Financial Activity109-21-14454
Net Cashflow-1815267-32

What does the Key Ratio analysis of VIPUL DYE CHEM 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 VIPUL DYE CHEM reveals:

  • Operating profit margins witnessed a fall and stood at 10.6% in FY22 as against 13.6% in FY21.
  • Net profit margins declined from 5.8% in FY21 to 5.2% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.1 as compared to 0.2 in FY21.

Here's the ratio/financial analysis of VIPUL DYE CHEM for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)4.67.09.813.610.6
Net Profit Margin (%)2.83.95.25.85.2
Debt to Equity Ratio (x)0.10.30.20.20.1

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