Future Retail Ltd

Future Retail is engaged in the business of retailing of fashion, household and consumer products through departmental and neighbourhood stores under various formats across the country.(Source : 201903 Annual Report Page No: 127)

Pros:
Company has good consistent profit growth of 34.23% over 5 years
Cons:
Though the company is reporting repeated profits, it is not paying out dividend
Tax rate seems low
Promoters have pledged 67.22% of their holding
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Retail // Industry: Trading

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
4,191 4,420 4,484 4,705 4,506 4,693 4,575 4,539 4,929 5,301 5,397 5,149
4,063 4,264 4,303 4,495 4,295 4,478 4,373 4,318 4,681 5,023 5,106 4,517
Operating Profit 128 156 180 210 211 215 201 221 248 278 291 633
OPM % 3% 4% 4% 4% 5% 5% 4% 5% 5% 5% 5% 12%
Other Income 6 9 3 3 3 3 -601 3 6 5 6 9
Interest 53 55 51 53 50 23 46 51 55 56 61 239
Depreciation 8 9 9 11 11 11 18 20 23 25 32 240
Profit before tax 74 101 123 148 153 183 -464 153 175 201 203 162
Tax % 0% 0% 0% 0% 0% 0% -0% 0% 0% 0% 0% 0%
Net Profit 74 101 123 148 153 183 -464 153 175 201 203 162
EPS in Rs 1.54 2.11 2.57 2.98 3.09 3.70 -9.24 3.05 3.48 4.01 4.04 3.23
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
1,578 2,343 1,779 6,845 17,980 20,106 22,057 20,776
2,065 2,931 2,148 6,762 17,399 19,272 21,012 19,327
Operating Profit -487 -588 -368 83 581 834 1,045 1,449
OPM % -31% -25% -21% 1% 3% 4% 5% 7%
Other Income 3 405 54 18 24 -594 12 26
Interest 18 71 20 50 204 175 224 412
Depreciation 37 61 44 37 33 53 101 320
Profit before tax -538 -315 -379 15 368 11 733 742
Tax % -0% -0% -0% 0% 0% 0% 0%
Net Profit -538 -315 -379 15 368 11 733 742
EPS in Rs 7.70 0.23 14.58 14.76
Dividend Payout % -0% -0% -0% 0% 0% 0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:56.59%
3 Years:47.70%
TTM:13.45%
Compounded Profit Growth
10 Years:%
5 Years:34.23%
3 Years:266.25%
TTM:17.87%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:37.47%
1 Year:-34.83%
Return on Equity
10 Years:%
5 Years:%
3 Years:20.29%
Last Year:21.34%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
533 1,399 1,399 9 94 100 101
Reserves -1,522 -1,441 -1,820 1,865 2,453 2,996 3,751
Borrowings 627 183 390 1,122 1,079 1,286 2,657
858 377 490 2,589 3,311 3,812 4,019
Total Liabilities 496 517 458 5,585 6,938 8,194 10,528
184 143 135 261 554 1,019 1,441
CWIP 39 47 43 0 12 34 190
Investments 0 0 0 0 0 0 104
273 327 280 5,325 6,372 7,142 8,793
Total Assets 496 517 458 5,585 6,938 8,194 10,528

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-136 -704 -284 262 197 632 -302
-81 -61 -50 -170 -70 -455 -774
236 750 320 -11 -88 -130 1,106
Net Cash Flow 19 -15 -14 81 39 47 30

Ratios Standalone Figures in Rs. Crores / View Consolidated

Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % -626% 4% 17% 20% 18%
Debtor Days 0 0 0 6 5 4 5
Inventory Turnover 12.33 8.09 3.90 5.11 4.93 4.65