AGNI GREEN POWER 2021-22 Annual Report Analysis

Mon, 21 Nov

AGNI GREEN POWER has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

AGNI GREEN POWER Income Statement Analysis

• Operating income during the year fell 55.3% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 60.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 4.2% in FY22 as against 4.7% in FY21.
• Depreciation charges decreased by 67.4% and finance costs decreased by 27.0% YoY, respectively.
• Other income grew by 24.5% YoY.
• Net profit for the year grew by 106.6% YoY.
• Net profit margins during the year grew from 0.3% in FY21 to 1.4% in FY22.

AGNI GREEN POWER Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	344	154	-55.3%
Other income	Rs m	8	10	24.5%
Total Revenues	Rs m	353	164	-53.4%
Gross profit	Rs m	16	6	-60.9%
Depreciation	Rs m	8	3	-67.4%
Interest	Rs m	15	11	-27.0%
Profit before tax	Rs m	1	3	112.9%
Tax	Rs m	0	1	133.3%
Profit after tax	Rs m	1	2	106.6%
Gross profit margin	%	4.7	4.2
Effective tax rate	%	23.7	26.0
Net profit margin	%	0.3	1.4

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AGNI GREEN POWER Balance Sheet Analysis

• The company's current liabilities during FY22 down at Rs 136 million as compared to Rs 180 million in FY21, thereby witnessing an decrease of -24.2%.
• Long-term debt stood at Rs 24 million as compared to Rs 21 million during FY21, a growth of 17.7%.
• Current assets rose 3% and stood at Rs 287 million, while fixed assets fell 25% and stood at Rs 139 million in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 427 million as against Rs 464 million during FY21, thereby witnessing a fall of 8%.

AGNI GREEN POWER Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	264	266	0.8
Current Liabilities	Rs m	180	136	-24.2
Long-term Debt	Rs m	21	24	17.7
Total Liabilities	Rs m	464	427	-8.1
Current assets	Rs m	278	287	3.4
Fixed Assets	Rs m	186	139	-25.2
Total Assets	Rs m	464	427	-8.1

AGNI GREEN POWER Cash Flow Statement Analysis

• AGNI GREEN POWER's cash flow from operating activities (CFO) during FY22 stood at Rs 20 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs 1 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs -3 million, an improvement of 87% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs 19 million from the Rs -30 million net cash flows seen during FY21.

AGNI GREEN POWER Cash Flow Statement 2021-22

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-21	Mar-22
Cash Flow from Operating Activities	Rs m	-11	20	-
Cash Flow from Investing Activities	Rs m	2	1	-58.0%
Cash Flow from Financing Activities	Rs m	-21	-3	-
Net Cash Flow	Rs m	-30	19	-

Current Valuations for AGNI GREEN POWER

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.2, an improvement from the EPS of Rs 0.1 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 25.9, stands at 230.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.9 times, while the price to sales ratio stands at 2.4 times.
• The company's price to cash flow (P/CF) ratio stood at 105.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Sales per share (Unadj.)	Rs	48.2	10.8
TTM Earnings per share	Rs	0.1	0.2
Diluted earnings per share	Rs	0.1	0.1
Price to Cash Flow	x	0.0	105.7
TTM P/E ratio	x	0.0	230.6
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	505
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for AGNI GREEN POWER

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.1x during FY22, from 1.5x during FY21. 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 1.3x during FY22, from 1.1x during FY21. 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 0.8% during FY22, from 0.4% during FY22. 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 4.9% during FY22, from 5.9% during FY21. 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 3.1% during FY22, from 3.5% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Current ratio	x	1.5	2.1
Debtors’ Days	Days	186,935,843	358,384,243
Interest coverage	x	1.1	1.3
Debt to equity ratio	x	0.1	0.1
Return on assets	%	3.5	3.1
Return on equity	%	0.4	0.8
Return on capital employed	%	5.9	4.9

To see how AGNI GREEN POWER has performed over the last 5 years, please visit here.

AGNI GREEN POWER Share Price Performance

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(To know more, check out historical annual results for AGNI GREEN POWER and quarterly results for AGNI GREEN POWER)