Elgi Change To Inventory vs Depreciation Analysis

ELGIRUBCO   122.57  2.87  2.29%   
Elgi Rubber financial indicator trend analysis is much more than just examining Elgi Rubber latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Elgi Rubber is a good investment. Please check the relationship between Elgi Rubber Change To Inventory and its Depreciation accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elgi Rubber. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Change To Inventory vs Depreciation

Change To Inventory vs Depreciation Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Elgi Rubber Change To Inventory account and Depreciation. At this time, the significance of the direction appears to have fragmental relationship.
The correlation between Elgi Rubber's Change To Inventory and Depreciation is 0.5. Overlapping area represents the amount of variation of Change To Inventory that can explain the historical movement of Depreciation in the same time period over historical financial statements of Elgi Rubber, assuming nothing else is changed. The correlation between historical values of Elgi Rubber's Change To Inventory and Depreciation is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Change To Inventory of Elgi Rubber are associated (or correlated) with its Depreciation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Depreciation has no effect on the direction of Change To Inventory i.e., Elgi Rubber's Change To Inventory and Depreciation go up and down completely randomly.

Correlation Coefficient

0.5
Relationship DirectionPositive 
Relationship StrengthWeak

Change To Inventory

The increase or decrease in the amount of inventory a company has over a certain period.

Depreciation

Depreciation indicates how much of Elgi Rubber value has been used up. For tax purposes Elgi Rubber can deduct the cost of the tangible assets it purchases as business expenses. However, Elgi Rubber must depreciate these assets in accordance with IRS rules about how and when the deduction may be taken, and how long it will last. The systematic allocation of the cost of a tangible asset over its useful life.
Most indicators from Elgi Rubber's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Elgi Rubber current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elgi Rubber. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.
The current year's Selling General Administrative is expected to grow to about 155 M, whereas Tax Provision is forecasted to decline to about 15.6 M.
 2021 2022 2023 2024 (projected)
Gross Profit1.8B2.1B2.0B1.9B
Total Revenue3.9B3.9B3.9B3.9B

Elgi Rubber fundamental ratios Correlations

-0.67-0.570.37-0.580.09-0.39-0.590.18-0.260.58-0.66-0.020.570.37-0.54-0.49-0.440.2-0.61-0.030.20.130.01-0.49-0.23
-0.670.84-0.150.79-0.10.760.85-0.440.2-0.520.96-0.25-0.52-0.490.930.690.54-0.150.90.15-0.23-0.36-0.20.750.43
-0.570.84-0.320.97-0.540.710.98-0.750.26-0.790.89-0.31-0.76-0.410.780.540.48-0.230.98-0.06-0.17-0.420.090.970.38
0.37-0.15-0.32-0.260.36-0.19-0.360.27-0.010.5-0.160.120.590.28-0.21-0.37-0.320.03-0.270.120.090.230.12-0.350.09
-0.580.790.97-0.26-0.620.630.95-0.750.39-0.760.83-0.27-0.69-0.410.660.480.48-0.190.96-0.06-0.21-0.360.180.970.31
0.09-0.1-0.540.36-0.62-0.1-0.520.78-0.310.7-0.20.10.630.36-0.05-0.02-0.38-0.1-0.470.550.390.14-0.48-0.660.02
-0.390.760.71-0.190.63-0.10.73-0.48-0.13-0.490.76-0.8-0.51-0.360.720.640.34-0.270.710.09-0.07-0.56-0.520.680.34
-0.590.850.98-0.360.95-0.520.73-0.740.18-0.820.91-0.32-0.78-0.490.820.580.53-0.220.98-0.08-0.18-0.460.030.970.38
0.18-0.44-0.750.27-0.750.78-0.48-0.74-0.040.71-0.540.320.660.39-0.43-0.28-0.360.24-0.70.390.260.29-0.27-0.82-0.19
-0.260.20.26-0.010.39-0.31-0.130.18-0.04-0.030.090.25-0.010.010.030.20.110.220.290.28-0.13-0.10.210.190.21
0.58-0.52-0.790.5-0.760.7-0.49-0.820.71-0.03-0.650.220.950.49-0.51-0.37-0.520.17-0.740.480.30.38-0.23-0.84-0.17
-0.660.960.89-0.160.83-0.20.760.91-0.540.09-0.65-0.24-0.62-0.480.930.550.5-0.160.93-0.04-0.19-0.29-0.080.820.52
-0.02-0.25-0.310.12-0.270.1-0.8-0.320.320.250.22-0.240.240.17-0.2-0.4-0.120.2-0.27-0.090.00.540.63-0.36-0.06
0.57-0.52-0.760.59-0.690.63-0.51-0.780.66-0.010.95-0.620.240.51-0.54-0.41-0.540.12-0.690.430.320.42-0.1-0.77-0.17
0.37-0.49-0.410.28-0.410.36-0.36-0.490.390.010.49-0.480.170.51-0.51-0.39-0.96-0.46-0.480.320.810.130.24-0.46-0.06
-0.540.930.78-0.210.66-0.050.720.82-0.430.03-0.510.93-0.2-0.54-0.510.670.51-0.110.840.1-0.15-0.41-0.270.680.54
-0.490.690.54-0.370.48-0.020.640.58-0.280.2-0.370.55-0.4-0.41-0.390.670.43-0.320.590.42-0.13-0.78-0.480.480.12
-0.440.540.48-0.320.48-0.380.340.53-0.360.11-0.520.5-0.12-0.54-0.960.510.430.430.53-0.26-0.85-0.11-0.140.51-0.04
0.2-0.15-0.230.03-0.19-0.1-0.27-0.220.240.220.17-0.160.20.12-0.46-0.11-0.320.43-0.18-0.31-0.580.4-0.12-0.220.14
-0.610.90.98-0.270.96-0.470.710.98-0.70.29-0.740.93-0.27-0.69-0.480.840.590.53-0.18-0.01-0.21-0.410.030.950.42
-0.030.15-0.060.12-0.060.550.09-0.080.390.280.48-0.04-0.090.430.320.10.42-0.26-0.31-0.010.47-0.36-0.42-0.16-0.05
0.2-0.23-0.170.09-0.210.39-0.07-0.180.26-0.130.3-0.190.00.320.81-0.15-0.13-0.85-0.58-0.210.47-0.15-0.02-0.230.17
0.13-0.36-0.420.23-0.360.14-0.56-0.460.29-0.10.38-0.290.540.420.13-0.41-0.78-0.110.4-0.41-0.36-0.150.42-0.41-0.08
0.01-0.20.090.120.18-0.48-0.520.03-0.270.21-0.23-0.080.63-0.10.24-0.27-0.48-0.14-0.120.03-0.42-0.020.420.15-0.19
-0.490.750.97-0.350.97-0.660.680.97-0.820.19-0.840.82-0.36-0.77-0.460.680.480.51-0.220.95-0.16-0.23-0.410.150.25
-0.230.430.380.090.310.020.340.38-0.190.21-0.170.52-0.06-0.17-0.060.540.12-0.040.140.42-0.050.17-0.08-0.190.25
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Elgi Rubber Account Relationship Matchups

Elgi Rubber fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets5.3B4.9B5.0B5.3B5.7B5.6B
Short Long Term Debt Total2.7B2.4B3.2B2.7B3.1B2.3B
Other Current Liab179.1M50K238.0M329.2M242.2M184.0M
Total Current Liabilities2.4B2.3B2.7B2.7B2.7B2.2B
Total Stockholder Equity1.9B1.8B1.7B1.8B1.9B1.8B
Property Plant And Equipment Net2.3B2.2B2.1B2.2B2.3B2.4B
Net Debt2.6B2.3B2.4B2.7B3.0B2.1B
Retained Earnings(229.5M)(218.3M)(385.2M)(317.7M)(201.1M)(191.0M)
Accounts Payable529.6M442.0M565.3M446.4M450.9M466.9M
Cash44.8M100.8M43.6M40.4M38.4M36.5M
Non Current Assets Total2.9B2.8B2.8B3.2B3.4B3.0B
Non Currrent Assets Other145.5M62.6M130.8M134.7M71.8M45.4M
Cash And Short Term Investments44.8M100.8M43.6M219.0M45.7M43.4M
Net Receivables497.4M538.9M1.0B687.7M40K38K
Liabilities And Stockholders Equity5.3B4.9B5.0B5.3B5.7B5.6B
Non Current Liabilities Total1.0B771.3M568.6M763.8M1.0B878.6M
Inventory1.4B1.1B995.5M1.1B1.1B1.3B
Other Current Assets477.3M427.3M114.4M324.7M1.1B1.2B
Total Liab3.4B3.1B3.3B3.5B3.8B3.1B
Total Current Assets2.4B2.2B2.2B2.1B2.3B1.9B
Current Deferred Revenue(1.7B)236.5M9.6M27.5M24.7M26.0M
Short Term Investments270K50K204.0M178.6M7.3M7.6M
Short Term Debt1.7B1.7B1.9B1.9B2.0B1.6B
Accumulated Other Comprehensive Income2.0B2.0B2.0B2.1B1.8B1.9B
Intangible Assets26.9M6.7M12.2M124.4M121.3M63.2M
Net Tangible Assets2.0B1.7B1.7B1.6B1.4B1.7B
Other Assets430.4M351.6M420.8M393.9M(40K)(38K)
Long Term Debt999.2M769.2M1.2B762.6M1.0B1.1B
Short Long Term Debt1.7B1.7B1.3B1.9B2.0B1.6B
Property Plant Equipment2.3B2.2B2.1B2.2B2.0B1.8B
Long Term Debt Total1.0B771.3M1.2B763.8M687.4M802.1M
Net Invested Capital4.5B4.3B4.2B4.6B5.0B3.8B
Net Working Capital(25.1M)(174.6M)26.4M(592.2M)(467.6M)(444.2M)

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Other Information on Investing in Elgi Stock

Balance Sheet is a snapshot of the financial position of Elgi Rubber at a specified time, usually calculated after every quarter, six months, or one year. Elgi Rubber Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Elgi Rubber and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which Elgi currently owns. An asset can also be divided into two categories, current and non-current.