AURO IMPEX 2022-23 Annual Report Analysis

Wed, 12 Jul

AURO IMPEX 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.

AURO IMPEX Income Statement Analysis

• Operating income during the year rose 54.0% on a year-on-year (YoY) basis.
• The company's operating profit increased by 118.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 5.1% in FY23 as against 3.6% in FY22.
• Depreciation charges decreased by 6.9% and finance costs increased by 34.8% YoY, respectively.
• Other income declined by 18.3% YoY.
• Net profit for the year grew by 160.8% YoY.
• Net profit margins during the year grew from 1.5% in FY22 to 2.6% in FY23.

AURO IMPEX Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	1,507	2,320	54.0%
Other income	Rs m	12	10	-18.3%
Total Revenues	Rs m	1,518	2,330	53.4%
Gross profit	Rs m	54	118	118.2%
Depreciation	Rs m	5	5	-6.9%
Interest	Rs m	29	40	34.8%
Profit before tax	Rs m	31	83	165.5%
Tax	Rs m	8	23	178.5%
Profit after tax	Rs m	23	60	160.8%
Gross profit margin	%	3.6	5.1
Effective tax rate	%	26.3	27.6
Net profit margin	%	1.5	2.6

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AURO IMPEX Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 523 million as compared to Rs 393 million in FY22, thereby witnessing an increase of 33.0%.
• Long-term debt down at Rs 97 million as compared to Rs 98 million during FY22, a fall of 0.4%.
• Current assets rose 32% and stood at Rs 699 million, while fixed assets rose 33% and stood at Rs 124 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 823 million as against Rs 622 million during FY22, thereby witnessing a growth of 32%.

AURO IMPEX Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	116	176	51.9
Current Liabilities	Rs m	393	523	33.0
Long-term Debt	Rs m	98	97	-0.4
Total Liabilities	Rs m	622	823	32.3
Current assets	Rs m	529	699	32.1
Fixed Assets	Rs m	93	124	33.5
Total Assets	Rs m	622	823	32.3

AURO IMPEX Cash Flow Statement Analysis

• AURO IMPEX's cash flow from operating activities (CFO) during FY23 stood at Rs 28 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -29 million, an improvement of 13.9% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 53 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 53 million from the Rs 28 million net cash flows seen during FY22.

AURO IMPEX 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	-39	28	-
Cash Flow from Investing Activities	Rs m	-25	-29	-
Cash Flow from Financing Activities	Rs m	93	53	-42.4%
Net Cash Flow	Rs m	28	53	87.6%

Current Valuations for AURO IMPEX

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 6.5, an decline from the EPS of Rs 29.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 61.8, stands at 12.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 4.3 times, while the price to sales ratio stands at 0.2 times.
• The company's price to cash flow (P/CF) ratio stood at 11.6 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	1,956.5	250.0
TTM Earnings per share	Rs	29.9	6.5
Diluted earnings per share	Rs	1.9	4.9
Price to Cash Flow	x	0.0	11.6
TTM P/E ratio	x	0.0	12.6
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	753
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for AURO IMPEX

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.3x during FY23, from 1.3x 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 3.1x during FY23, from 2.1x 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 34.2% during FY23, from 19.9% 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 improved and stood at 44.9% during FY23, from 28.4% 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 12.1% during FY23, from 8.4% 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	1.3	1.3
Debtors’ Days	Days	402	235
Interest coverage	x	2.1	3.1
Debt to equity ratio	x	0.8	0.6
Return on assets	%	8.4	12.1
Return on equity	%	19.9	34.2
Return on capital employed	%	28.4	44.9

To see how AURO IMPEX has performed over the last 5 years, please visit here.

AURO IMPEX Share Price Performance

Over the last one year, AURO IMPEX 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 METAL Index is trading at Rs 21,016.6 (up 0.1%). Over the last one year it has moved up from 16,029.2 to 21,016.6, a gain of 4,987 points (up 31.1%).

Overall, the NIFTY 50 is down 0.3% over the year.

(To know more, check out historical annual results for AURO IMPEX and quarterly results for AURO IMPEX)