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Hello, many companies announced their Q4 leads to FY 2021 and today we'll tell you about the businesses which reduced
their debt the foremost.
Debt piling up isn't good
for companies, we've got seen
cases like DHFL and Videocon which accumulated lots of debt so went
bankrupt, so if companies reduce debt then it's good for company and investors.
So today we'll discuss about 7 such companies that have reduced their
debt and interest coverage ratio. The interest coverage ratio is calculated by
dividing profit before interest and tax by expense. If the interest coverage ratio is a smaller amount than 1,
it means the corporate isn't able to meet its interest expenses and this can be considered a red
flag, the upper the
ratio the higher it implies that the corporate isn't able to meet its interest expenses well.
So let's start with the list which can be in ascending
order, which implies that the foremost deductible debt is
discussed at the very end.
Bharat Petroleum Corporation Limited is at
number seven, they are doing petroleum refining and marketing
of petroleum products. It reduced its debt by Rs 17,887 crore in FY21 and features a debt-equity ratio of
0.89 which is that the industry
average. It’s an
interest coverage ratio of 10.96 which is extremely good, its ROE is 27.32% and NPM is 5.76%. 5 year
sales growth of 4.15%, PE ratio is 8.19 and share price has grown by 21.86% in
last year and its 5 year compound annual return is 5.5%.
At number six is that the Steel Authority of India, SAIL, which reduced its
debt by Rs 18,550 crore in FY21. It’s a
debt-equity ratio of 0.78 and an interest coverage ratio of three.54. It’s a PE ratio of 13.37, its
5-year sales growth of 12.24%, and its share price up 350.76 percent over the
past year. It’s a
5-year CAR of 24.05%, NPM of 5.95% and ROE of 9.47%.
At number five is Grasim Industries, the
flagship company of the Aditya Birla Group and that they deal in Viscose Staple Fibre, hydroxide, Specialty Chemicals,
Cement, Fertilizers and Textiles. He reduced his debt by Rs 20,456 crore in
FY21, features a debt-equity
ratio of 0.98, and an interest coverage ratio of two.81. Its ROE is 7.29%, NPM is 9.45%, and PE Ratio is
22.49, its 5 years
sales growth, a rise of
17.24%. Its share price grew by 145.56% within the last year and its 5-year CAR is 15.16%
At number four is Indian Oil Corporation, a
market leader in oil refining and petroleum marketing. He reduced his debt by
Rs 21,275 crore after which his debt-equity ratio was 0.97. And its interest
coverage ratio is 9.57 which is
extremely good, it's a
PE Ratio of 4.82 which is
incredibly low, given its 5 year sales growth of 1.01%. Its ROE is
20.88%, NPM is 5.98%, its share price is up 27.27% over the past year and its
5-year CAR is 0.11%
Automobile company Mahindra & Mahindra is at
number three, which has reduced its debt by Rs 23,013 crore, taking its
debt-equity ratio to 1.43 which continues
to be the very best level within the industry. It’s an interest coverage ratio
of 1.71, PE ratio of 54.43, ROE of 4.45%. NPM is 3.01%, with 5-year sales
growth up -0.42%. Its share price rose 56.37% last year and its 5-year CAR is
2.11%
Steel maker Tata Steel is at number two, which
has reduced its debt by Rs 27,826 crore in FY21. it's a debt-equity ratio of 1.2 and an interest coverage
ratio of two.91. It’s 5-year sales growth of
8.92%, ROE 10.85%, NPM 5.49%. Its PE ratio is eighteen.13, its share price jumped 269.02% last year and its
5-year CAR is 31.01%
At No. 1 is Reliance Industries which is India's
largest company by market cap and has reduced its debt by Rs 84,485 crore in
FY21, its debt-equity ratio is 0.41 and its interest coverage ratio is
3.35. It’s a PE ratio
of 31.31, it's involved
in several businesses like digital services, media, entertainment, fossil oil refining, retail etc.
If we glance at its
profitability, its NPM is 10.37% and ROE is 7.97%. Its share price has
increased by 21.06% and its 5 year sales growth has increased by 11.34% and therefore the company has
given a 5 year CAR of 34.16%.
So these were the 7 companies that reduced their
debt the foremost in
FY21
Conclusion:
Debt reduction will be seen as a
robust signal for the strategy to travel digital within the near future as these seven companies would force higher agility in
their digital operations.
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