ANANT RAJ 2023-24 Annual Report Analysis

Thu, 27 Jun

ANANT RAJ 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.

ANANT RAJ Income Statement Analysis

• Operating income during the year fell 16.5% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 48.6% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 12.7% in FY24 as against 20.6% in FY23.
• Depreciation charges decreased by 12.1% and finance costs decreased by 42.5% YoY, respectively.
• Other income grew by 104.3% YoY.
• Net profit for the year declined by 10.0% YoY.
• Net profit margins during the year grew from 15.1% in FY23 to 16.3% in FY24.

ANANT RAJ Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	9,569	7,988	-16.5%
Other income	Rs m	479	979	104.3%
Total Revenues	Rs m	10,049	8,967	-10.8%
Gross profit	Rs m	1,971	1,012	-48.6%
Depreciation	Rs m	165	145	-12.1%
Interest	Rs m	318	183	-42.5%
Profit before tax	Rs m	1,967	1,663	-15.4%
Tax	Rs m	523	363	-30.6%
Profit after tax	Rs m	1,444	1,300	-10.0%
Gross profit margin	%	20.6	12.7
Effective tax rate	%	26.6	21.8
Net profit margin	%	15.1	16.3

Don't Miss: Key Information for Long-term Investors

ANANT RAJ Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 2 billion as compared to Rs 4 billion in FY23, thereby witnessing an decrease of -36.5%.
• Long-term debt down at Rs 4 billion as compared to Rs 9 billion during FY23, a fall of 50.2%.
• Current assets fell 9% and stood at Rs 20 billion, while fixed assets rose 5% and stood at Rs 23 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 43 billion as against Rs 44 billion during FY23, thereby witnessing a fall of 2%.

ANANT RAJ Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	28,223	34,044	20.6
Current Liabilities	Rs m	3,818	2,424	-36.5
Long-term Debt	Rs m	8,960	4,460	-50.2
Total Liabilities	Rs m	43,580	42,791	-1.8
Current assets	Rs m	21,774	19,849	-8.8
Fixed Assets	Rs m	21,806	22,942	5.2
Total Assets	Rs m	43,580	42,791	-1.8

ANANT RAJ Cash Flow Statement Analysis

• ANANT RAJ's cash flow from operating activities (CFO) during FY24 stood at Rs -161 million, an improvement of 152.5% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 866 million, an improvement of 74.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 1 billion, an improvement of 467% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 2 billion from the Rs 146 million net cash flows seen during FY23.

ANANT RAJ 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	-64	-161	-
Cash Flow from Investing Activities	Rs m	498	866	74.0%
Cash Flow from Financing Activities	Rs m	-288	1,057	-
Net Cash Flow	Rs m	146	1,763	1,104.9%

Current Valuations for ANANT RAJ

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.8, an decline from the EPS of Rs 4.5 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 438.3, stands at 56.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 4.4 times, while the price to sales ratio stands at 18.8 times.
• The company's price to cash flow (P/CF) ratio stood at 57.7 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	29.5	23.4
TTM Earnings per share	Rs	4.5	3.8
Diluted earnings per share	Rs	4.2	3.8
Price to Cash Flow	x	26.0	57.7
TTM P/E ratio	x	29.0	56.6
Price / Book Value ratio	x	1.0	2.4
Market Cap	Rs m	27,200	83,336
Dividends per share (Unadj.)	Rs	0.5	0.7

Ratio Analysis for ANANT RAJ

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 8.2x during FY24, from 5.7x 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 10.1x during FY24, from 7.2x 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 3.8% during FY24, from 5.1% 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 declined and down at 4.8% during FY24, from 6.1% 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 declined and down at 3.5% during FY24, from 4.0% 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	5.7	8.2
Debtors’ Days	Days	196	449
Interest coverage	x	7.2	10.1
Debt to equity ratio	x	0.3	0.1
Return on assets	%	4.0	3.5
Return on equity	%	5.1	3.8
Return on capital employed	%	6.1	4.8

To see how ANANT RAJ has performed over the last 5 years, please visit here.

ANANT RAJ Share Price Performance

Over the last one year, ANANT RAJ share price has moved up from Rs 173.3 to Rs 438.3, registering a gain of Rs 265.0 or around 152.9%.

Overall, the S&P BSE SENSEX is up 24.8% over the year.

(To know more, check out historical annual results for ANANT RAJ and quarterly results for ANANT RAJ)