Yokogawa India Annual Report | Balance Sheet

Yokogawa India Limited (YOKOGAWA ) Return Comparision with Primex 40 Index

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Yokogawa India Limited

Yokogawa India Limited Balance Sheet (Rs in Lakhs)

Particulars	31-03-2018	31-03-2017
ASSETS
Non-current assets
Property, plant and equipment	5,497.64	5,443.37
Capital work in progress	22.32	439.29
Other intangible assets	64.9	88.57
Loans	34.85	48.24
Other financial assets	5,283.96	5,982.24
Deferred tax assets (net)	3,741.85	3,576.63
Non-current tax asset(net)	1,617.88	1,103.84
Other non-current assets	2,566.93	2,543.82
Current assets
Inventories	2,404.44	3,271.28
Trade receivables	24,626.37	19,270.28
Cash and cash equivalents	2,674.78	1,649.88
Bank balances	2,580.78	3,559.82
Loans	64.05	64.95
Other financial assets	12,395.14	9,009.86
Other current assets	1,387.25	1,716.11
TOTAL ASSETS	64,963.14	57,768.19
EQUITY AND LIABILITIES
Equity
Other equity	875	875
Equity share capital	28,782.59	24,043.62
Current liabilities
Trade payables	19,548.78	15,909.23
Other financial liabilities	318.06	290.06
Provisions	4,153.29	4,494.90
Other current liabilities	11,285.42	12,155.38
TOTAL EQUITY AND LIABILITIES	64,963.14	57,768.19

Yokogawa India Limited Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2018	31-03-2017
Revenue from operations	92,999.77	86,664.69
Other income	1,568.20	852.12
Total income	94,567.97	87,516.81
Cost of materials consumed	32,316.83	32,198.16
Purchases of traded goods	15,757.29	13,453.76
Changes in inventories of work-in-progress and stock-in-trade	196.41	436.76
Excise duty on sale of goods	486.16	2,660.65
Employee benefits expense	17,823.93	16,682.68
Finance cost	40.19	20.34
Depreciation and amortization expense	981.02	1,121.87
Other expenses	15,001.94	12,999.64
Total expenses	82,603.77	79,573.86
Profit before tax	11,964.20	7,942.95
Tax expense-current year	4,333.33	3,122.67
Tax expense -current year (overseas)	3	3
Deferred tax	-201.68	-339.75
Profit for the year	7,829.55	5,157.03
Other comprehensive income
Items that will not be reclassified to profit or loss:
Remeasurement on the defined benefit liabilities	105.36	125.24
Income tax relating to items that will not be reclassified to profit or loss.	-36.46	-43.34
Total other comprehensive income	68.9	81.9
Total comprehensive income for the period	7,898.45	5,238.93
Earnings per equity share
Basic and diluted	89.48	58.94

Yokogawa India Limited Consolidated Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2018	31-03-2017
Cash flow from operating activities
Profit before tax	11,964.20	7,942.95
Adjustments for:
Depreciation and amortization	981.02	1,121.87
Interest income	-643.43	-808.54
Reversal of impairment loss on trade receivables	-882.22	-
Impairment loss recognized on trade receivable	-	228
Loss/(gain)on sale of property, flat and equipment	6.1	-2.81
Provision for product support	1,582.97	128.79
Net unrealized exchange(gain)/loss	76.29	94.71
Operating profit before working capital changes	13,084.93	8,704.98
Movements in working capital
Decrease/(Increase)in inventories	866.84	978.34
Decrease/(Increase)in trade receivables	-4,693.57	1,439.75
Decrease/(Increase)in short-term loans	-0.9	-16.8
Decrease/(Increase)in long-term loans	13.39	5.94
Decrease/(Increase)in non-current other financial assets	698.28	-1,478.41
Decrease/(Increase)in other non-current assets	-23.11	-2,095.63
Decrease/(Increase)in current other financial assets	-3,373.77	1,611.04
Decrease/(Increase)in other current assets	328.86	328.95
Increase/(Decrease)in trade payables	3,908.74	-240.81
Increase/(Decrease)in other current liabilities	-869.96	2,621.86
Increase/(Decrease)in other financial liabilities	-0.32	28.61
Increase/(Decrease)in short-term provisions	-1,689.54	-365.35
Cash generated from operating activities	8,249.86	11,522.48
Direct taxes paid(net of refunds)	-5,081.98	-3,522.59
Net cash generated from operating activities	3,167.88	7,999.89
Cash flow from investing activities
Purchase of property, flat and equipment, including CWIP and capital advances	-597.28	-1,424.14
Proceeds from sale of property, flat and equipment	7.8	20.35
Other bank balances not considered as cash in hand cash equivalents	979.04	-3,510.44
Interest received	631.92	808.54
Net cash used in investment activities	1,021.48	-4,105.69
Cash flow from financing activities
Dividend paid	-2,625.00	-2,639.33
Tax on dividend	-534.37	-534.37
Net cash generated from financing activities	-3,159.37	-3,173.70
Net increase in cash and cash equivalents	1,029.99	720.5
Cash and cash equivalents at the beginning of the year	1,649.88	1,004.67
Effect of exchange difference so statement of foreign currency cash and cash equivalents	-5.09	-75.3
Cash and cash equivalents at the end of the year	2,674.78	1,649.88

Here is a summary of the Cash Flow Statement for the years 2018 and 2017:

1. Cash Flow from Operating Activities:

Profit Before Tax: In 2018, the company reported a profit before tax of ₹11,964.20, which increased from ₹7,942.95 in 2017.

Adjustments: Adjustments included depreciation, amortization, interest income, impairment losses, gains/losses on the sale of assets, provision for product support, and net unrealized exchange gain/loss. These adjustments resulted in an operating profit before working capital changes of ₹13,084.93 in 2018 and ₹8,704.98 in 2017.

Movements in Working Capital: Fluctuations in inventories, trade receivables, loans, financial assets, liabilities, and provisions affected cash generated from operating activities, which amounted to ₹8,249.86 in 2018 and ₹11,522.48 in 2017. Direct taxes paid amounted to -₹5,081.98 in 2018 and -₹3,522.59 in 2017.

Net Cash Generated from Operating Activities: Consequently, the net cash generated from operating activities was ₹3,167.88 in 2018 and ₹7,999.89 in 2017.

2. Cash Flow from Investing Activities:

The company engaged in various investing activities, including the purchase and sale of property, flat, and equipment. It also received interest income and made changes to other bank balances. These activities resulted in net cash used in investment activities of ₹1,021.48 in 2018 and -₹4,105.69 in 2017.

3. Cash Flow from Financing Activities:

Financing activities involved dividend payments and taxes on dividends. These activities resulted in a net cash outflow of -₹3,159.37 in 2018 and -₹3,173.70 in 2017.

4. Net Increase in Cash and Cash Equivalents:

The company experienced a net increase in cash and cash equivalents of ₹1,029.99 in 2018 and ₹720.50 in 2017.

5. Opening and Closing Balances of Cash and Cash Equivalents:

The opening balance of cash and cash equivalents was ₹1,649.88 in 2018 and ₹1,004.67 in 2017. By the end of the year, the closing balance increased to ₹2,674.78 in 2018 and ₹1,649.88 in 2017, indicating improvements in the company's liquidity position.

Financial Ratios of Yokogawa India Limited

Particulars	2018	2017
Current Ratio	1.22	1.13
Quick Ratio	1.17	1.05
Interest Coverage Ratio	42.93	35.62
Return on Equity (%)	28.69	22.29
Return on Capital Employed (%)	44.89	35.33
Asset Turnover Ratio	1.16	1.18

Here is a summary of the financial and operational metrics for Yokogawa India Limited for the year 2018 & 2017:

1. Current Ratio: The current ratio increased from 1.13 in 2017 to 1.22 in 2018. This indicates an improvement in the company's ability to cover its short-term liabilities with its current assets. A current ratio above 1.0 suggests that the company has sufficient current assets to meet its short-term obligations.

2. Quick Ratio: The quick ratio also increased from 1.05 in 2017 to 1.17 in 2018. This further confirms the improvement in liquidity. The quick ratio provides a more stringent measure of liquidity by excluding inventory from current assets. An increase in this ratio indicates a stronger liquidity position.

3. Interest Coverage Ratio: The interest coverage ratio increased from 35.62 in 2017 to 42.93 in 2018. This indicates an improvement in the company's ability to cover its interest expenses with its operating income. A higher interest coverage ratio suggests a lower risk of default on debt obligations.

4. Return on Equity (ROE): The return on equity increased from 22.29% in 2017 to 28.69% in 2018. This indicates an improvement in the company's profitability relative to shareholders' equity. A higher ROE suggests that the company is generating more profit with each unit of shareholder investment.

5. Return on Capital Employed (ROCE): The return on capital employed also increased from 35.33% in 2017 to 44.89% in 2018. This indicates an improvement in the company's efficiency in generating returns from its capital investments. A higher ROCE suggests that the company is utilizing its capital more effectively to generate profits.

6. Asset Turnover Ratio: The asset turnover ratio decreased slightly from 1.18 in 2017 to 1.16 in 2018. This indicates a slight decrease in the company's efficiency in generating revenue from its assets. A lower asset turnover ratio suggests that the company may be experiencing challenges in utilizing its assets to generate sales.

Dividend History

Particulars	2018	2017
Dividend Per Share	Rs. 30 Per Share	Rs. 30.16 Per Share
Retained Earnings (in Lakhs)	10,817.21	14,487.28

Annual Report

Yokogawa India Annual Report 2017-18

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Yokogawa India Annual Reports, Balance Sheet and Financials