PYRAMID TECHNOPLAST 2022-23 Annual Report Analysis

Thu, 8 Feb

PYRAMID TECHNOPLAST has announced its results for the year ended March 2023. Let us have a look at the detailed performance review of the company during FY22-23.

PYRAMID TECHNOPLAST Income Statement Analysis

• Operating income during the year rose 19.9% on a year-on-year (YoY) basis.
• The company's operating profit increased by 18.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 10.4% in FY23 as against 10.5% in FY22.
• Depreciation charges increased by 11.4% and finance costs decreased by 16.5% YoY, respectively.
• Other income declined by 9.9% YoY.
• Net profit for the year grew by 21.5% YoY.
• Net profit margins during the year grew from 6.5% in FY22 to 6.6% in FY23.

PYRAMID TECHNOPLAST Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	4,004	4,800	19.9%
Other income	Rs m	22	20	-9.9%
Total Revenues	Rs m	4,026	4,820	19.7%
Gross profit	Rs m	422	498	18.0%
Depreciation	Rs m	44	49	11.4%
Interest	Rs m	49	41	-16.5%
Profit before tax	Rs m	352	428	21.8%
Tax	Rs m	90	111	22.6%
Profit after tax	Rs m	261	318	21.5%
Gross profit margin	%	10.5	10.4
Effective tax rate	%	25.6	25.8
Net profit margin	%	6.5	6.6

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PYRAMID TECHNOPLAST Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 943 million as compared to Rs 908 million in FY22, thereby witnessing an increase of 3.9%.
• Long-term debt stood at Rs 175 million as compared to Rs 113 million during FY22, a growth of 55.2%.
• Current assets rose 18% and stood at Rs 2 billion, while fixed assets rose 33% and stood at Rs 743 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 2 billion as against Rs 2 billion during FY22, thereby witnessing a growth of 23%.

PYRAMID TECHNOPLAST Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	752	1,073	42.6
Current Liabilities	Rs m	908	943	3.9
Long-term Debt	Rs m	113	175	55.2
Total Liabilities	Rs m	1,838	2,258	22.9
Current assets	Rs m	1,279	1,515	18.5
Fixed Assets	Rs m	559	743	33.0
Total Assets	Rs m	1,838	2,258	22.9

PYRAMID TECHNOPLAST Cash Flow Statement Analysis

• PYRAMID TECHNOPLAST's cash flow from operating activities (CFO) during FY23 stood at Rs 390 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -239 million, an improvement of 459.4% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -127 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 23 million from the Rs -11 million net cash flows seen during FY22.

PYRAMID TECHNOPLAST Cash Flow Statement 2022-23

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-22	Mar-23
Cash Flow from Operating Activities	Rs m	-60	390	-
Cash Flow from Investing Activities	Rs m	-43	-239	-
Cash Flow from Financing Activities	Rs m	92	-127	-
Net Cash Flow	Rs m	-11	23	-

Current Valuations for PYRAMID TECHNOPLAST

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 10.2, an decline from the EPS of Rs 66.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 0.0, stands at 0.0 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.0 times, while the price to sales ratio stands at 0.0 times.
• The company's price to cash flow (P/CF) ratio stood at 0.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Sales per share (Unadj.)	Rs	1,024.1	153.5
TTM Earnings per share	Rs	66.9	10.2
Diluted earnings per share	Rs	7.1	8.6
Price to Cash Flow	x	0.0	0.0
TTM P/E ratio	x	0.0	0.0
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	0
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for PYRAMID TECHNOPLAST

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.6x during FY23, from 1.4x during FY22. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 11.6x during FY23, from 8.2x during FY22. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company declined and down at 29.6% during FY23, from 34.8% during FY23. 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 declined and down at 37.6% during FY23, from 46.3% during FY22. 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 declined and down at 15.9% during FY23, from 16.9% during FY22. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Current ratio	x	1.4	1.6
Debtors’ Days	Days	685	585
Interest coverage	x	8.2	11.6
Debt to equity ratio	x	0.2	0.2
Return on assets	%	16.9	15.9
Return on equity	%	34.8	29.6
Return on capital employed	%	46.3	37.6

To see how PYRAMID TECHNOPLAST has performed over the last 5 years, please visit here.

PYRAMID TECHNOPLAST Share Price Performance

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(To know more, check out historical annual results for PYRAMID TECHNOPLAST and quarterly results for PYRAMID TECHNOPLAST)