IMAGICAAWORLD ENTERTAINMENT 2023-24 Annual Report Analysis

Thu, 19 Sep

IMAGICAAWORLD ENTERTAINMENT 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.

IMAGICAAWORLD ENTERTAINMENT Income Statement Analysis

• Operating income during the year rose 3.8% on a year-on-year (YoY) basis.
• The company's operating profit increased by 659.4% YoY during the fiscal. Operating profit margins witnessed a fall and down at 232.8% in FY24 as against 31.8% in FY23.
• Depreciation charges was by NA and finance costs decreased by 97.0% YoY, respectively.
• Other income declined by 77.8% YoY.
• Net profit for the year grew by 51.5% YoY.
• Net profit margins during the year grew from 142.5% in FY23 to 208.0% in FY24.

IMAGICAAWORLD ENTERTAINMENT Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	2,506	2,600	3.8%
Other income	Rs m	832	185	-77.8%
Total Revenues	Rs m	3,337	2,785	-16.5%
Gross profit	Rs m	797	6,054	659.4%
Depreciation	Rs m	-507	793	NA
Interest	Rs m	526	16	-97.0%
Profit before tax	Rs m	1,611	5,431	237.2%
Tax	Rs m	-1,961	22	NA
Profit after tax	Rs m	3,571	5,409	51.5%
Gross profit margin	%	31.8	232.8
Effective tax rate	%	-121.7	0.4
Net profit margin	%	142.5	208.0

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IMAGICAAWORLD ENTERTAINMENT Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 3 billion as compared to Rs 7 billion in FY23, thereby witnessing an decrease of -53.9%.
• Current assets rose 46% and stood at Rs 1 billion, while fixed assets fell 8% and stood at Rs 7 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 9 billion as against Rs 9 billion during FY23, thereby witnessing a fall of 1%.

IMAGICAAWORLD ENTERTAINMENT Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	2,335	7,939	240.1
Current Liabilities	Rs m	6,580	3,031	-53.9
Long-term Debt	Rs m	2,134	0	-100.0
Total Liabilities	Rs m	9,106	9,038	-0.7
Current assets	Rs m	1,002	1,457	45.5
Fixed Assets	Rs m	8,104	7,468	-7.8
Total Assets	Rs m	9,106	9,038	-0.7

IMAGICAAWORLD ENTERTAINMENT Cash Flow Statement Analysis

• IMAGICAAWORLD ENTERTAINMENT's cash flow from operating activities (CFO) during FY24 stood at Rs 1 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -644 million, an improvement of 643.5% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -23 million, an improvement of 96% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 394 million from the Rs 553 million net cash flows seen during FY23.

IMAGICAAWORLD ENTERTAINMENT 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	1,170	1,062	-9.2%
Cash Flow from Investing Activities	Rs m	-87	-644	-
Cash Flow from Financing Activities	Rs m	-530	-23	-
Net Cash Flow	Rs m	553	394	-28.7%

Current Valuations for IMAGICAAWORLD ENTERTAINMENT

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 11.2, an improvement from the EPS of Rs 8.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 81.0, stands at 245.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 5.5 times, while the price to sales ratio stands at 15.0 times.
• The company's price to cash flow (P/CF) ratio stood at 5.1 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	6.1	5.4
TTM Earnings per share	Rs	8.7	11.2
Diluted earnings per share	Rs	6.6	10.0
Price to Cash Flow	x	8.1	5.1
TTM P/E ratio	x	7.0	245.2
Price / Book Value ratio	x	6.1	4.0
Market Cap	Rs m	14,157	31,454
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for IMAGICAAWORLD ENTERTAINMENT

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 0.5x during FY24, from 0.2x 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 348.5x during FY24, from 4.1x 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 68.1% during FY24, from 153.0% 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 68.6% during FY24, from 47.8% 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 60.0% during FY24, from 45.0% 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	0.2	0.5
Debtors’ Days	Days	67	58
Interest coverage	x	4.1	348.5
Debt to equity ratio	x	0.9	0.0
Return on assets	%	45.0	60.0
Return on equity	%	153.0	68.1
Return on capital employed	%	47.8	68.6

To see how IMAGICAAWORLD ENTERTAINMENT has performed over the last 5 years, please visit here.

IMAGICAAWORLD ENTERTAINMENT Share Price Performance

Over the last one year, IMAGICAAWORLD ENTERTAINMENT share price has moved up from Rs 54.9 to Rs 81.0, registering a gain of Rs 26.2 or around 47.7%.

Overall, the S&P BSE SENSEX is up 23.0% over the year.

(To know more, check out historical annual results for IMAGICAAWORLD ENTERTAINMENT and quarterly results for IMAGICAAWORLD ENTERTAINMENT)