CYBERTECH SYST. 2020-21 Annual Report Analysis

Wed, 31 Mar

CYBERTECH SYST. 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.

CYBERTECH SYST. Income Statement Analysis

• Operating income during the year rose 4.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 25.6% YoY during the fiscal. Operating profit margins witnessed a fall and down at 19.1% in FY21 as against 15.9% in FY20.
• Depreciation charges increased by 5.2% and finance costs decreased by 30.8% YoY, respectively.
• Other income grew by 9.3% YoY.
• Net profit for the year grew by 82.2% YoY.
• Net profit margins during the year grew from 11.7% in FY20 to 20.4% in FY21.

CYBERTECH SYST. Income Statement 2020-21

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*	% Change
Net Sales	Rs m	1,128	1,178	4.4%
Other income	Rs m	66	72	9.3%
Total Revenues	Rs m	1,194	1,250	4.7%
Gross profit	Rs m	179	225	25.6%
Depreciation	Rs m	63	67	5.2%
Interest	Rs m	5	4	-30.8%
Profit before tax	Rs m	177	227	28.4%
Tax	Rs m	45	-14	-131.2%
Profit after tax	Rs m	132	241	82.2%
Gross profit margin	%	15.9	19.1
Effective tax rate	%	25.2	-6.1
Net profit margin	%	11.7	20.4

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CYBERTECH SYST. Balance Sheet Analysis

• The company's current liabilities during FY21 down at Rs 376 million as compared to Rs 385 million in FY20, thereby witnessing an decrease of -2.4%.
• Current assets rose 30% and stood at Rs 1 billion, while fixed assets fell 10% and stood at Rs 530 million in FY21.
• Overall, the total assets and liabilities for FY21 stood at Rs 2 billion as against Rs 1 billion during FY20, thereby witnessing a growth of 13%.

CYBERTECH SYST. Balance Sheet as on March 2021

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*	% Change
Networth	Rs m	922	1,131	22.7
Current Liabilities	Rs m	385	376	-2.4
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	1,384	1,568	13.3
Current assets	Rs m	798	1,038	30.1
Fixed Assets	Rs m	586	530	-9.6
Total Assets	Rs m	1,384	1,568	13.3

CYBERTECH SYST. Cash Flow Statement Analysis

• CYBERTECH SYST.'s cash flow from operating activities (CFO) during FY21 stood at Rs 228 million, an improvement of 16.6% on a YoY basis.
• Cash flow from investing activities (CFI) during FY21 stood at Rs -189 million, an improvement of 69.4% on a YoY basis.
• Cash flow from financial activities (CFF) during FY21 stood at Rs -1 million, an improvement of 99% on a YoY basis.
• Overall, net cash flows for the company during FY21 stood at Rs 36 million from the Rs -91 million net cash flows seen during FY20.

CYBERTECH SYST. 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	196	228	16.6%
Cash Flow from Investing Activities	Rs m	-111	-189	-
Cash Flow from Financing Activities	Rs m	-189	-1	-
Net Cash Flow	Rs m	-91	36	-

Current Valuations for CYBERTECH SYST.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 8.7, an improvement from the EPS of Rs 4.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 120.7, stands at 14.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 3.0 times, while the price to sales ratio stands at 2.8 times.
• The company's price to cash flow (P/CF) ratio stood at 9.4 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	41.0	42.7
TTM Earnings per share	Rs	4.8	8.7
Diluted earnings per share	Rs	4.7	8.5
Price to Cash Flow	x	4.2	9.4
TTM P/E ratio	x	6.2	14.2
Price / Book Value ratio	x	1.3	2.5
Market Cap	Rs m	1,196	2,877
Dividends per share (Unadj.)	Rs	1.0	1.0

Ratio Analysis for CYBERTECH SYST.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.8x during FY21, from 2.1x 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 65.9x during FY21, from 35.9x 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 21.3% during FY21, from 14.3% 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 20.4% during FY21, from 19.7% 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 15.6% during FY21, from 9.9% 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	2.1	2.8
Debtors’ Days	Days	914	774
Interest coverage	x	35.9	65.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	9.9	15.6
Return on equity	%	14.3	21.3
Return on capital employed	%	19.7	20.4

To see how CYBERTECH SYST. has performed over the last 5 years, please visit here.

CYBERTECH SYST. Share Price Performance

Over the last one year, CYBERTECH SYST. share price has moved up from Rs 29.1 to Rs 120.7, registering a gain of Rs 91.7 or around 315.5%.

Meanwhile, the S&P BSE IT Index is trading at Rs 26,543.2 (down 0.7%). Over the last one year it has moved up from 12,842.7 to 26,543.2, a gain of 13,701 points (up 106.7%).

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

(To know more, check out historical annual results for CYBERTECH SYST. and quarterly results for CYBERTECH SYST.)