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WENDT (INDIA) 2017-18 Annual Report Analysis

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WENDT (INDIA) 2017-18 Annual Report Analysis
Thu, 20 Sep

WENDT (INDIA) has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

WENDT (INDIA) Income Statement Analysis

  • Operating income during the year rose 0.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 3.6% YoY during the fiscal. Operating profit margins witnessed a rise and up at 17.7% in FY18 as against 17.2% in FY17.
  • Depreciation charges and finance costs increased by 4.0% YoY and 100.0% YoY, respectively.
  • Other income grew by 62.5% YoY.
  • Net profit for the year grew by 8.3% YoY.
  • Net profit margins during the year grew from 8.2% in FY17 to 8.8% in FY18.

WENDT (INDIA) Income Statement 2017-18

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
Net SalesRs m1,4621,4660.3%
Other incomeRs m162662.5%
Total RevenuesRs m1,4781,4920.9%
Gross profitRs m2512603.6%
DepreciationRs m1001044.0%
InterestRs m12100.0%
Profit before taxRs m1661808.4%
TaxRs m45498.9%
Profit after taxRs m1211318.3%
Gross profit margin%17.217.7
Effective tax rate%27.127.2
Net profit margin%8.28.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



WENDT (INDIA) Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 334 million as compared to Rs 251 million in FY17, thereby witnessing an increase of 33.1%.
  • Current assets rose 24% and stood at Rs 976 million, while fixed assets fell 7% and stood at Rs 588 million in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 2 billion as against Rs 1 billion during FY17, thereby witnessing a growth of 10%.

WENDT (INDIA) Balance Sheet as on March 2018

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
NetworthRs m1,1231,2168.3
 
Current LiabilitiesRs m25133433.1
Long-term DebtRs m000.0
Total LiabilitiesRs m1,4501,59910.3
 
Current assetsRs m78497624.5
Fixed AssetsRs m 632588-6.8
Total AssetsRs m1,4501,59910.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



WENDT (INDIA) Cash Flow Statement Analysis

  • WENDT (INDIA)'s cash flow from operating activities (CFO) during FY18 stood at Rs 235 million, an improvement of 27.9% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -150 million, an improvement of 19.5% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -61 million, an improvement of 1% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs 42 million from the Rs -4 million net cash flows seen during FY17.

WENDT (INDIA) Cash Flow Statement 2017-18

ParticularsNo. of months1212% Change
Year EndingMar-17Mar-18
Cash Flow from Operating ActivitiesRs m18423527.9%
Cash Flow from Investing ActivitiesRs m-126-150-
Cash Flow from Financing ActivitiesRs m-61-61-
Net Cash FlowRs m-442-
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for WENDT (INDIA)

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 65.5, an improvement from the EPS of Rs 60.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 3,211.9, stands at 47.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 5.1 times, while the price to sales ratio stands at 4.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 27.3 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Sales per share (Unadj.)Rs731.0733.0
TTM Earnings per shareRs60.565.5
Diluted earnings per shareRs60.565.5
Price to Cash Flow x29.127.3
TTM P/E ratiox47.447.4
Price / Book Value ratiox3.45.1
Market CapRs m6,4246,424
Dividends per share (Unadj.)Rs25.025.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for WENDT (INDIA)

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.9x during FY18, from 3.1x during FY17. 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 91.0x during FY18, from 167.0x during FY17. 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 10.8% during FY18, from 10.8% during FY18. 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 15.0% during FY18, from 14.9% during FY17. 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 8.3% during FY18, from 8.4% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Current ratiox3.12.9
Debtors’ DaysDays7791
Interest coveragex167.091.0
Debt to equity ratiox0.00.0
Return on assets%8.48.3
Return on equity%10.810.8
Return on capital employed%14.915.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how WENDT (INDIA) has performed over the last 5 years, please visit here.

WENDT (INDIA) Share Price Performance

Over the last one year, WENDT (INDIA) share price has moved up from Rs 2,509.8 to Rs 3,211.9, registering a gain of Rs 702.1 or around 28.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,168.6 (down 0.1%). Over the last one year it has moved down from 18,453.8 to 18,168.6, a loss of 285 points (down 1.5%).

Overall, the S&P BSE SENSEX is up 14.6% over the year.

(To know more, check out historical annual results for WENDT (INDIA) and quarterly results for WENDT (INDIA))

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