ACCENT MICROCELL LTD. 2023-24 Annual Report Analysis

Fri, 16 Aug

ACCENT MICROCELL LTD. 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.

ACCENT MICROCELL LTD. Income Statement Analysis

• Operating income during the year rose 24.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 103.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 15.7% in FY24 as against 9.6% in FY23.
• Depreciation charges increased by 7.8% and finance costs decreased by 54.8% YoY, respectively.
• Other income grew by 45.8% YoY.
• Net profit for the year grew by 146.6% YoY.
• Net profit margins during the year grew from 6.2% in FY23 to 12.3% in FY24.

ACCENT MICROCELL LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	1,973	2,455	24.4%
Other income	Rs m	25	36	45.8%
Total Revenues	Rs m	1,998	2,491	24.7%
Gross profit	Rs m	190	385	103.0%
Depreciation	Rs m	41	44	7.8%
Interest	Rs m	25	11	-54.8%
Profit before tax	Rs m	148	365	146.8%
Tax	Rs m	26	64	147.7%
Profit after tax	Rs m	122	302	146.6%
Gross profit margin	%	9.6	15.7
Effective tax rate	%	17.3	17.4
Net profit margin	%	6.2	12.3

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ACCENT MICROCELL LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 465 million as compared to Rs 562 million in FY23, thereby witnessing an decrease of -17.3%.
• Long-term debt down at Rs 15 million as compared to Rs 55 million during FY23, a fall of 72.6%.
• Current assets rose 115% and stood at Rs 2 billion, while fixed assets rose 25% and stood at Rs 414 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 2 billion as against Rs 1 billion during FY23, thereby witnessing a growth of 89%.

ACCENT MICROCELL LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	504	1,638	224.9
Current Liabilities	Rs m	562	465	-17.3
Long-term Debt	Rs m	55	15	-72.6
Total Liabilities	Rs m	1,132	2,135	88.5
Current assets	Rs m	802	1,721	114.7
Fixed Assets	Rs m	330	414	25.4
Total Assets	Rs m	1,132	2,135	88.5

ACCENT MICROCELL LTD. Cash Flow Statement Analysis

• ACCENT MICROCELL LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs 113 million, an improvement of 49.6% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -823 million, an improvement of 1,937.7% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 723 million, an improvement of 1,774% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 13 million from the Rs -8 million net cash flows seen during FY23.

ACCENT MICROCELL LTD. 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	76	113	49.6%
Cash Flow from Investing Activities	Rs m	-40	-823	-
Cash Flow from Financing Activities	Rs m	-43	723	-
Net Cash Flow	Rs m	-8	13	-

Current Valuations for ACCENT MICROCELL LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 14.3, an improvement from the EPS of Rs 9.5 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 264.5, stands at 18.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 3.4 times, while the price to sales ratio stands at 2.3 times.
• The company's price to cash flow (P/CF) ratio stood at 17.9 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	152.5	116.7
TTM Earnings per share	Rs	9.5	14.3
Diluted earnings per share	Rs	5.8	14.3
Price to Cash Flow	x	0.0	17.9
TTM P/E ratio	x	0.0	18.4
Price / Book Value ratio	x	0.0	3.8
Market Cap	Rs m	0	6,187
Dividends per share (Unadj.)	Rs	0.8	1.0

Ratio Analysis for ACCENT MICROCELL LTD.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 3.7x during FY24, from 1.4x during FY23. 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 32.9x during FY24, from 6.8x during FY23. 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 18.4% during FY24, from 24.3% 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 declined and down at 22.8% during FY24, from 31.0% 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 14.7% during FY24, from 13.0% 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	1.4	3.7
Debtors’ Days	Days	562	800
Interest coverage	x	6.8	32.9
Debt to equity ratio	x	0.1	0.0
Return on assets	%	13.0	14.7
Return on equity	%	24.3	18.4
Return on capital employed	%	31.0	22.8

To see how ACCENT MICROCELL LTD. has performed over the last 5 years, please visit here.

ACCENT MICROCELL LTD. Share Price Performance

Over the last one year, ACCENT MICROCELL LTD. share price has moved down from Rs 0.0 to Rs 0.0, registering a loss of Rs 0.0 or around 0.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 41,058.7 (up 0.7%). Over the last one year it has moved up from 28,042.9 to 41,058.7, a gain of 13,016 points (up 46.4%).

Overall, the NIFTY 50 is up 0.8% over the year.

(To know more, check out historical annual results for ACCENT MICROCELL LTD. and quarterly results for ACCENT MICROCELL LTD.)