ANNAPURNA SWADISHT 2023-24 Annual Report Analysis

Tue, 12 Nov

ANNAPURNA SWADISHT 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.

ANNAPURNA SWADISHT Income Statement Analysis

• Operating income during the year rose 65.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 110.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 10.4% in FY24 as against 8.2% in FY23.
• Depreciation charges increased by 115.8% and finance costs increased by 241.0% YoY, respectively.
• Other income grew by 18.1% YoY.
• Net profit for the year grew by 83.6% YoY.
• Net profit margins during the year grew from 4.5% in FY23 to 5.0% in FY24.

ANNAPURNA SWADISHT Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	1,602	2,650	65.4%
Other income	Rs m	7	8	18.1%
Total Revenues	Rs m	1,608	2,657	65.2%
Gross profit	Rs m	131	275	110.5%
Depreciation	Rs m	19	40	115.8%
Interest	Rs m	19	63	241.0%
Profit before tax	Rs m	100	179	79.2%
Tax	Rs m	28	48	68.3%
Profit after tax	Rs m	72	131	83.6%
Gross profit margin	%	8.2	10.4
Effective tax rate	%	28.4	26.7
Net profit margin	%	4.5	5.0

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ANNAPURNA SWADISHT Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 1 billion as compared to Rs 456 million in FY23, thereby witnessing an increase of 146.3%.
• Long-term debt stood at Rs 83 million as compared to Rs 63 million during FY23, a growth of 33.0%.
• Current assets rose 70% and stood at Rs 1 billion, while fixed assets rose 194% and stood at Rs 1 billion 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 111%.

ANNAPURNA SWADISHT Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	598	1,068	78.8
Current Liabilities	Rs m	456	1,123	146.3
Long-term Debt	Rs m	63	83	33.0
Total Liabilities	Rs m	1,118	2,362	111.3
Current assets	Rs m	748	1,275	70.5
Fixed Assets	Rs m	370	1,087	193.7
Total Assets	Rs m	1,118	2,362	111.3

ANNAPURNA SWADISHT Cash Flow Statement Analysis

• ANNAPURNA SWADISHT's cash flow from operating activities (CFO) during FY24 stood at Rs -102 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -719 million, an improvement of 179.2% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 826 million, an improvement of 59% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 6 million from the Rs 9 million net cash flows seen during FY23.

ANNAPURNA SWADISHT 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	-254	-102	-
Cash Flow from Investing Activities	Rs m	-257	-719	-
Cash Flow from Financing Activities	Rs m	520	826	58.8%
Net Cash Flow	Rs m	9	6	-40.5%

Current Valuations for ANNAPURNA SWADISHT

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 7.5, an improvement from the EPS of Rs 4.4 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 417.0, stands at 69.3 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 8.5 times, while the price to sales ratio stands at 2.8 times.
• The company's price to cash flow (P/CF) ratio stood at 32.7 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	97.5	150.6
TTM Earnings per share	Rs	4.4	7.5
Diluted earnings per share	Rs	3.3	6.0
Price to Cash Flow	x	0.0	32.7
TTM P/E ratio	x	0.0	69.3
Price / Book Value ratio	x	0.0	5.3
Market Cap	Rs m	0	5,620
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ANNAPURNA SWADISHT

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.1x during FY24, from 1.6x 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 3.8x during FY24, from 6.4x 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 12.3% during FY24, from 12.0% 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 21.0% during FY24, from 17.9% 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 8.2% during FY24, from 8.1% 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	1.6	1.1
Debtors’ Days	Days	452	404
Interest coverage	x	6.4	3.8
Debt to equity ratio	x	0.1	0.1
Return on assets	%	8.1	8.2
Return on equity	%	12.0	12.3
Return on capital employed	%	17.9	21.0

To see how ANNAPURNA SWADISHT has performed over the last 5 years, please visit here.

ANNAPURNA SWADISHT Share Price Performance

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

Overall, the NIFTY 50 is down 1.2% over the year.

(To know more, check out historical annual results for ANNAPURNA SWADISHT and quarterly results for ANNAPURNA SWADISHT)