Markets will remain closed on May 20, 2024 on account of Parliamentary Elections.

TINE AGRO 2023-24 Annual Report Analysis

Tue, 30 Apr

TINE AGRO has announced its results for the year ended March 2024. Let us have a look at the detailed performance review of the company during FY23-24.

TINE AGRO Income Statement Analysis

• Operating income during the year rose 840.7% on a year-on-year (YoY) basis.
• The company's operating profit increased by 96553.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 17.3% in FY24 as against 0.2% in FY23.
• Depreciation charges increased by 0.0% increased by 0.0% YoY, respectively.
• Other income grew by 11800.0% YoY.
• Net profit for the year grew by 116110.0% YoY.
• Net profit margins during the year grew from 0.1% in FY23 to 16.0% in FY24.

TINE AGRO Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	77	725	840.7%
Other income	Rs m	0	1	11,800.0%
Total Revenues	Rs m	77	726	842.1%
Gross profit	Rs m	0	126	96,553.8%
Depreciation	Rs m	0	0	0.0%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	0	127	90,478.6%
Tax	Rs m	0	11	35,233.3%
Profit after tax	Rs m	0	116	116,110.0%
Gross profit margin	%	0.2	17.3
Effective tax rate	%	21.4	8.4
Net profit margin	%	0.1	16.0

India's Capex Comeback: Explore Small Cap Stock Opportunities

TINE AGRO Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 30 million as compared to Rs 42 million in FY23, thereby witnessing an decrease of -28.3%.
• Current assets rose 873% and stood at Rs 352 million, while fixed assets fell 0% and stood at Rs 337 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 689 million as against Rs 36 million during FY23, thereby witnessing a growth of 1,804%.

TINE AGRO Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	-7	659	NA
Current Liabilities	Rs m	42	30	-28.3
Long-term Debt	Rs m	1	0	-100.0
Total Liabilities	Rs m	36	689	1,804.4
Current assets	Rs m	36	352	873.4
Fixed Assets	Rs m	0	337	0.0
Total Assets	Rs m	36	689	1,804.4

TINE AGRO Cash Flow Statement Analysis

• TINE AGRO's cash flow from operating activities (CFO) during FY24 stood at Rs -216 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -47 million, an improvement of 0.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 264 million, an improvement of 88,053% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 0 million from the Rs 0 million net cash flows seen during FY23.

TINE AGRO Cash Flow Statement 2023-24

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-23	Mar-24
Cash Flow from Operating Activities	Rs m	0	-216	-
Cash Flow from Investing Activities	Rs m	0	-47	-
Cash Flow from Financing Activities	Rs m	0	264	-
Net Cash Flow	Rs m	0	0	6.3%

Current Valuations for TINE AGRO

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.2, an improvement from the EPS of Rs 0.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 33.1, stands at 143.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 25.3 times, while the price to sales ratio stands at 23.0 times.
• The company's price to cash flow (P/CF) ratio stood at 56.9 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Sales per share (Unadj.)	Rs	13.6	1.4
TTM Earnings per share	Rs	0.0	0.2
Diluted earnings per share	Rs	0.0	0.2
Price to Cash Flow	x	2,144.7	56.9
TTM P/E ratio	x	2,187.6	143.2
Price / Book Value ratio	x	-14.3	10.0
Market Cap	Rs m	104	6,617
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for TINE AGRO

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 11.7x during FY24, from 0.9x during FY23. The current ratio measures the company's ability to pay short-term and long-term obligations.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company improved and stood at 17.6% during FY24, from -1.4% during FY24. 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 19.2% during FY24, from -2.3% during FY23. 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 16.9% during FY24, from 0.3% during FY23. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Current ratio	x	0.9	11.7
Debtors’ Days	Days	170,221	106,488
Interest coverage	x	0.0	0.0
Debt to equity ratio	x	-0.2	0.0
Return on assets	%	0.3	16.9
Return on equity	%	-1.4	17.6
Return on capital employed	%	-2.3	19.2

To see how TINE AGRO has performed over the last 5 years, please visit here.

TINE AGRO Share Price Performance

Over the last one year, TINE AGRO share price has moved {{varPrevCurrYearUpDown}} from Rs {{varLastYearSameDayValue}} to Rs {{varCurrYearCurrDayValue}}, registering a {{varPrevCurrYearComp}} of Rs {{varPrevCurrYearCompValue}} or around {{varPrevCurrYearCompPerValue}}%.

Meanwhile, the{{varBSEIndexName}} is trading at Rs {{varBSEIndexValue}} ({{varBSEIndexPrevCurrComp}} {{varBSEIndexPrevCurrPerValue}}%). Over the last one year it has moved {{varBSEIndexPrevCurrYearComp}} from {{varBSEIndexPrevYearValue}} to {{varBSEIndexCurrentYearValue}}, a {{varBSEIndexPrevCurrGainLoss}} of {{varBSEIndexPrevCurrSubstraction}} points ({{varBSEIndexPrevCurrYearCompOverYear}} {{varBSEIndexPrevCurrPerValueOverYear}}%).

Overall, the {{varBSESensexName}} is {{varBSESensexCurrStatus}} {{varBSESensexCurrValue}}% over the year.

(To know more, check out historical annual results for TINE AGRO and quarterly results for TINE AGRO)