ALPHALOGIC INDUSTRIES 2022-23 Annual Report Analysis

Thu, 17 Aug

ALPHALOGIC INDUSTRIES 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.

ALPHALOGIC INDUSTRIES Income Statement Analysis

• Operating income during the year rose 129.7% on a year-on-year (YoY) basis.
• The company's operating profit increased by 334.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 17.7% in FY23 as against 9.4% in FY22.
• Depreciation charges increased by 663.6% and finance costs increased by 24.0% YoY, respectively.
• Other income grew by 0.0% YoY.
• Net profit for the year grew by 619.3% YoY.
• Net profit margins during the year grew from 3.9% in FY22 to 12.2% in FY23.

ALPHALOGIC INDUSTRIES Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	78	180	129.7%
Other income	Rs m	0	2	0.0%
Total Revenues	Rs m	78	182	132.4%
Gross profit	Rs m	7	32	334.9%
Depreciation	Rs m	0	1	663.6%
Interest	Rs m	3	4	24.0%
Profit before tax	Rs m	4	29	615.1%
Tax	Rs m	1	7	602.9%
Profit after tax	Rs m	3	22	619.3%
Gross profit margin	%	9.4	17.7
Effective tax rate	%	25.6	25.2
Net profit margin	%	3.9	12.2

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ALPHALOGIC INDUSTRIES Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 55 million as compared to Rs 30 million in FY22, thereby witnessing an increase of 83.7%.
• Current assets rose 247% and stood at Rs 56 million, while fixed assets rose 89% and stood at Rs 42 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 98 million as against Rs 38 million during FY22, thereby witnessing a growth of 156%.

ALPHALOGIC INDUSTRIES Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	9	43	407.1
Current Liabilities	Rs m	30	55	83.7
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	38	98	155.6
Current assets	Rs m	16	56	247.0
Fixed Assets	Rs m	22	42	88.6
Total Assets	Rs m	38	98	155.6

ALPHALOGIC INDUSTRIES Cash Flow Statement Analysis

• ALPHALOGIC INDUSTRIES's cash flow from operating activities (CFO) during FY23 stood at Rs -11 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -19 million, an improvement of 26.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 29 million, an improvement of 148% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 0 million from the Rs 0 million net cash flows seen during FY22.

ALPHALOGIC INDUSTRIES 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	3	-11	-
Cash Flow from Investing Activities	Rs m	-15	-19	-
Cash Flow from Financing Activities	Rs m	12	29	148.1%
Net Cash Flow	Rs m	0	0	-

Current Valuations for ALPHALOGIC INDUSTRIES

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 70.8, an improvement from the EPS of Rs 15.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 192.0, stands at 44.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 22.6 times, while the price to sales ratio stands at 0.3 times.
• The company's price to cash flow (P/CF) ratio stood at 42.9 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	392.2	581.3
TTM Earnings per share	Rs	15.3	70.8
Diluted earnings per share	Rs	0.6	4.3
Price to Cash Flow	x	0.0	42.9
TTM P/E ratio	x	0.0	44.6
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	978
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ALPHALOGIC INDUSTRIES

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.0x during FY23, from 0.5x 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 8.6x during FY23, from 2.3x 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 improved and stood at 50.6% during FY23, from 35.7% 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 76.6% during FY23, from 84.6% 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 improved and stood at 26.3% during FY23, from 16.1% 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	0.5	1.0
Debtors’ Days	Days	376	484
Interest coverage	x	2.3	8.6
Debt to equity ratio	x	0.0	0.0
Return on assets	%	16.1	26.3
Return on equity	%	35.7	50.6
Return on capital employed	%	84.6	76.6

To see how ALPHALOGIC INDUSTRIES has performed over the last 5 years, please visit here.

ALPHALOGIC INDUSTRIES Share Price Performance

Over the last one year, ALPHALOGIC INDUSTRIES share price has moved up from Rs 0.0 to Rs 192.0, registering a gain of Rs 192.0 or around 0.0%.

Overall, the S&P BSE SENSEX is up 8.9% over the year.

(To know more, check out historical annual results for ALPHALOGIC INDUSTRIES and quarterly results for ALPHALOGIC INDUSTRIES)