Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  


VST INDUSTRIES 2020-21 Annual Report Analysis
Wed, 31 Mar

VST INDUSTRIES 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.

VST INDUSTRIES Income Statement Analysis

  • Operating income during the year fell 32.4% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 1.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 54.8% in FY21 as against 37.4% in FY20.
  • Depreciation charges decreased by 16.0% increased by 0.0% YoY, respectively.
  • Other income declined by 11.8% YoY.
  • Net profit for the year grew by 2.2% YoY.
  • Net profit margins during the year grew from 27.4% in FY20 to 41.5% in FY21.

VST INDUSTRIES Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 11,083 7,491 -32.4%
Other income Rs m 474 418 -11.8%
Total Revenues Rs m 11,556 7,909 -31.6%
Gross profit Rs m 4,146 4,106 -1.0%
Depreciation Rs m 418 351 -16.0%
Interest Rs m 0 0 0.0%
Profit before tax Rs m 4,203 4,173 -0.7%
Tax Rs m 1,162 1,065 -8.3%
Profit after tax Rs m 3,041 3,108 2.2%
Gross profit margin % 37.4 54.8
Effective tax rate % 27.6 25.5
Net profit margin % 27.4 41.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

VST INDUSTRIES Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 5 billion as compared to Rs 6 billion in FY20, thereby witnessing an decrease of -11.3%.
  • Current assets rose 7% and stood at Rs 13 billion, while fixed assets rose 1% and stood at Rs 2 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 15 billion as against Rs 14 billion during FY20, thereby witnessing a growth of 7%.

VST INDUSTRIES Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 7,871 9,404 19.5
 
Current Liabilities Rs m 5,901 5,233 -11.3
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 13,706 14,605 6.6
 
Current assets Rs m 11,638 12,507 7.5
Fixed Assets Rs m 2,069 2,098 1.4
Total Assets Rs m 13,706 14,605 6.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



VST INDUSTRIES Cash Flow Statement Analysis

  • VST INDUSTRIES's cash flow from operating activities (CFO) during FY21 stood at Rs 3 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -1 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -2 billion, an improvement of 10% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -169 million from the Rs -2 million net cash flows seen during FY20.

VST INDUSTRIES 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 3,314 2,862 -13.7%
Cash Flow from Investing Activities Rs m -1,548 -1,440 -
Cash Flow from Financing Activities Rs m -1,769 -1,591 -
Net Cash Flow Rs m -2 -169 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for VST INDUSTRIES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 201.3, an improvement from the EPS of Rs 197.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 3,390.9, stands at 16.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 5.6 times, while the price to sales ratio stands at 7.0 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-20* 12 Mar-21*
Sales per share (Unadj.) Rs 717.8 485.2
TTM Earnings per share Rs 197.0 201.3
Diluted earnings per share Rs 196.9 201.3
Price to Cash Flow x 12.4 15.0
TTM P/E ratio x 14.1 16.8
Price / Book Value ratio x 7.3 5.5
Market Cap Rs m 57,185 51,987
Dividends per share (Unadj.) Rs 103.0 114.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for VST INDUSTRIES

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.4x during FY21, from 2.0x during FY20. The current ratio measures the company's ability to pay short-term and long-term obligations.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 33.0% during FY21, from 38.6% 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 44.4% during FY21, from 53.4% 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 declined and down at 21.3% during FY21, from 22.2% 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 2.0 2.4
Debtors’ Days Days 51 74
Interest coverage x 0.0 0.0
Debt to equity ratio x 0.0 0.0
Return on assets % 22.2 21.3
Return on equity % 38.6 33.0
Return on capital employed % 53.4 44.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how VST INDUSTRIES has performed over the last 5 years, please visit here.

VST INDUSTRIES Share Price Performance

Over the last one year, VST INDUSTRIES share price has moved up from Rs 2,781.9 to Rs 3,390.9, registering a gain of Rs 609.0 or around 21.9%.

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

(To know more, check out historical annual results for VST INDUSTRIES and quarterly results for VST INDUSTRIES)

Annual Report FAQs

What is the current share price of VST INDUSTRIES?

VST INDUSTRIES currently trades at Rs 3,571.5 per share. You can check out the latest share price performance of VST INDUSTRIES here...

What was the revenue of VST INDUSTRIES in FY21? How does it compare to earlier years?

The revenues of VST INDUSTRIES stood at Rs 7,909 m in FY21, which was down -31.6% compared to Rs 11,556 m reported in FY20.

VST INDUSTRIES' revenue has grown from Rs -3,965 m in FY17 to Rs 7,909 m in FY21.

Over the past 5 years, the revenue of VST INDUSTRIES has grown at a CAGR of NaN%.

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

The net profit of VST INDUSTRIES stood at Rs 3,108 m in FY21, which was up 2.2% compared to Rs 3,041 m reported in FY20.

This compares to a net profit of Rs 2,268 m in FY19 and a net profit of Rs 1,819 m in FY18.

Over the past 5 years, VST INDUSTRIES net profit has grown at a CAGR of 19.7%.

What does the cash flow statement of VST INDUSTRIES 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 VST INDUSTRIES reveals:

  • Cash flow from operations decreased in FY21 and stood at Rs 2,862 m as compared to Rs 3,314 m in FY20.
  • Cash flow from investments increased in FY21 and stood at Rs -1,440 m as compared to Rs -1,548 m in FY20.
  • Cash flow from financial activity increased in FY21 and stood at Rs -1,591 m as compared to Rs -1,769 m in FY20.

Here's the cash flow statement of VST INDUSTRIES for the past 5 years.

(Rs m)FY17FY18FY19FY20FY21
From Operations1,4574,2012,9023,3142,862
From Investments-178-2,641-1,480-1,548-1,440
From Financial Activity-1,301-1,394-1,443-1,769-1,591
Net Cashflow-22166-21-2-169

What does the Key Ratio analysis of VST INDUSTRIES 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 VST INDUSTRIES reveals:

  • Operating profit margins witnessed a fall and down at 54.8% in FY21 as against 37.4% in FY20.
  • Net profit margins grew from 27.4% in FY20 to 41.5% in FY21.
  • Debt to Equity ratio for FY21 stood at 0.0 as compared to 0.0 in FY20.

Here's the ratio/financial analysis of VST INDUSTRIES for the past 5 years.

 FY17FY18FY19FY20FY21
Operating Profit Margin (%)-59.554.834.837.454.8
Net Profit Margin (%)-36.433.922.427.441.5
Debt to Equity Ratio (x)0.00.00.00.00.0

Read: Latest Annual Report Analysis of VST INDUSTRIES

 

Equitymaster requests your view! Post a comment on "VST INDUSTRIES 2020-21 Annual Report Analysis". Click here!