Future Retail Ltd

About [ edit ]

Future Retail Limited (FRL), the flagship company of the Future Group (one of India’s largest retailers), is engaged mainly in retailing of fashion, household and consumer products Kishore Biyani is the founder and Group CEO of Future Group. #

Key Points [ edit ]
  • Market Cap 2,486 Cr.
  • Current Price 45.8
  • High / Low 168 / 40.6
  • Stock P/E
  • Book Value 55.6
  • Dividend Yield 0.00 %
  • ROCE 10.9 %
  • ROE 0.32 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.82 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -7.43%
  • Promoter holding is low: 20.57%
  • Contingent liabilities of Rs.2438.87 Cr.
  • Promoters have pledged 52.01% of their holding.

Peer comparison

Sector: Retail Industry: Trading

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
4,589 4,965 5,368 5,462 5,197 5,449 5,193 4,492 1,358 1,424 1,507
4,368 4,715 5,092 5,175 4,551 4,754 4,482 4,494 1,508 1,443 1,620
Operating Profit 221 251 277 287 646 695 712 -1 -150 -18 -113
OPM % 5% 5% 5% 5% 12% 13% 14% -0% -11% -1% -8%
Other Income 4 6 6 7 9 21 16 40 111 65 38
Interest 52 55 59 62 245 273 276 231 278 362 403
Depreciation 21 24 26 33 251 279 286 282 245 378 368
Profit before tax 152 177 198 199 159 165 165 -475 -562 -692 -847
Tax % -0% -0% -0% 0% -0% -0% 0% -1% -0% -0% -0%
Net Profit 152 177 197 200 160 166 165 -479 -562 -692 -847
EPS in Rs 3.02 3.53 3.93 3.97 3.18 3.30 3.29 -9.09 -10.36 -12.77 -15.62

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 TTM
20,333 20,332 8,781
19,288 18,187 9,065
Operating Profit 1,045 2,145 -284
OPM % 5% 11% -3%
Other Income 15 -6 255
Interest 228 1,026 1,274
Depreciation 104 1,099 1,273
Profit before tax 727 14 -2,576
Tax % 0% 20%
Net Profit 727 12 -2,580
EPS in Rs 14.47 0.22 -47.84
Dividend Payout % -0% -0%
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-59%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-474%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:-57%
1 Year:-44%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Sep 2020
101 105 108
Reserves 3,746 3,332 2,906
Borrowings 2,657 10,813 11,819
4,083 7,288 5,570
Total Liabilities 10,587 21,538 20,404
1,525 3,646 6,802
CWIP 190 4,097 509
Investments 4 -0 -0
8,868 13,795 13,093
Total Assets 10,587 21,538 20,404

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020
-340 -1,755
-760 -4,405
1,165 6,043
Net Cash Flow 64 -117

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020
ROCE % 11%
Debtor Days 6 12
Inventory Turnover 2.97

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
46.52 46.51 46.51 47.02 47.02 47.02 47.02 40.31 41.73 33.86 28.00 20.56
17.60 16.56 14.90 13.43 13.66 12.90 12.60 12.00 10.98 4.39 2.91 2.60
12.10 13.34 15.45 15.66 15.58 15.20 14.15 12.91 11.09 6.46 6.06 6.08
23.79 23.60 23.15 23.89 23.74 24.88 26.24 34.78 36.20 55.29 63.03 70.76

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