ADVAIT INFRATECH 2023-24 Annual Report Analysis

Fri, 18 Oct

ADVAIT INFRATECH 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.

ADVAIT INFRATECH Income Statement Analysis

• Operating income during the year rose 100.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 117.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 17.3% in FY24 as against 15.9% in FY23.
• Depreciation charges decreased by 28.5% and finance costs increased by 158.6% YoY, respectively.
• Other income grew by 65.5% YoY.
• Net profit for the year grew by 159.2% YoY.
• Net profit margins during the year grew from 8.1% in FY23 to 10.5% in FY24.

ADVAIT INFRATECH Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	1,042	2,088	100.4%
Other income	Rs m	17	29	65.5%
Total Revenues	Rs m	1,059	2,117	99.9%
Gross profit	Rs m	166	362	117.7%
Depreciation	Rs m	37	26	-28.5%
Interest	Rs m	27	69	158.6%
Profit before tax	Rs m	120	295	146.1%
Tax	Rs m	35	76	114.6%
Profit after tax	Rs m	84	219	159.2%
Gross profit margin	%	15.9	17.3
Effective tax rate	%	29.5	25.7
Net profit margin	%	8.1	10.5

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ADVAIT INFRATECH Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 1 billion as compared to Rs 561 million in FY23, thereby witnessing an increase of 89.2%.
• Long-term debt down at Rs 52 million as compared to Rs 61 million during FY23, a fall of 14.5%.
• Current assets rose 113% and stood at Rs 1 billion, while fixed assets rose 21% and stood at Rs 622 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 72%.

ADVAIT INFRATECH Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	458	734	60.2
Current Liabilities	Rs m	561	1,061	89.2
Long-term Debt	Rs m	61	52	-14.5
Total Liabilities	Rs m	1,160	1,991	71.7
Current assets	Rs m	644	1,369	112.7
Fixed Assets	Rs m	516	622	20.6
Total Assets	Rs m	1,160	1,991	71.7

ADVAIT INFRATECH Cash Flow Statement Analysis

• ADVAIT INFRATECH's cash flow from operating activities (CFO) during FY24 stood at Rs -104 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -82 million, an improvement of 13.6% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 436 million, an improvement of 1,576% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 250 million from the Rs 81 million net cash flows seen during FY23.

ADVAIT INFRATECH 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	128	-104	-
Cash Flow from Investing Activities	Rs m	-72	-82	-
Cash Flow from Financing Activities	Rs m	26	436	1,576.2%
Net Cash Flow	Rs m	81	250	207.5%

Current Valuations for ADVAIT INFRATECH

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 21.5, an improvement from the EPS of Rs 8.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,781.2, stands at 74.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 26.2 times, while the price to sales ratio stands at 8.7 times.
• The company's price to cash flow (P/CF) ratio stood at 39.3 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	102.2	204.8
TTM Earnings per share	Rs	8.3	21.5
Diluted earnings per share	Rs	7.8	20.3
Price to Cash Flow	x	24.9	39.3
TTM P/E ratio	x	35.7	74.6
Price / Book Value ratio	x	9.4	13.1
Market Cap	Rs m	4,319	9,631
Dividends per share (Unadj.)	Rs	0.0	1.5

Ratio Analysis for ADVAIT INFRATECH

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.3x during FY24, from 1.1x 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 deteriorated and stood at 5.2x during FY24, from 5.5x 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 improved and stood at 29.8% during FY24, from 18.4% 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 46.3% during FY24, from 28.2% 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 14.5% during FY24, from 9.6% 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	1.1	1.3
Debtors’ Days	Days	1,052	753
Interest coverage	x	5.5	5.2
Debt to equity ratio	x	0.1	0.1
Return on assets	%	9.6	14.5
Return on equity	%	18.4	29.8
Return on capital employed	%	28.2	46.3

To see how ADVAIT INFRATECH has performed over the last 5 years, please visit here.

ADVAIT INFRATECH Share Price Performance

Over the last one year, ADVAIT INFRATECH share price has moved up from Rs 384.0 to Rs 1,781.2, registering a gain of Rs 1,397.2 or around 363.9%.

Overall, the S&P BSE SENSEX is up 22.4% over the year.

(To know more, check out historical annual results for ADVAIT INFRATECH and quarterly results for ADVAIT INFRATECH)