ADITYA BIRLA MONEY 2023-24 Annual Report Analysis

Fri, 5 Jul

ADITYA BIRLA MONEY 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.

ADITYA BIRLA MONEY Income Statement Analysis

• Operating income during the year rose 48.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 87.6% YoY during the fiscal. Operating profit margins witnessed a fall and down at 42.4% in FY24 as against 33.5% in FY23.
• Depreciation charges increased by 23.7% and finance costs increased by 83.6% YoY, respectively.
• Other income declined by 69.5% YoY.
• Net profit for the year grew by 56.2% YoY.
• Net profit margins during the year grew from 12.9% in FY23 to 13.6% in FY24.

ADITYA BIRLA MONEY Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	2,630	3,902	48.4%
Other income	Rs m	158	48	-69.5%
Total Revenues	Rs m	2,788	3,950	41.7%
Gross profit	Rs m	882	1,654	87.6%
Depreciation	Rs m	67	82	23.7%
Interest	Rs m	507	931	83.6%
Profit before tax	Rs m	467	689	47.7%
Tax	Rs m	128	160	25.0%
Profit after tax	Rs m	339	530	56.2%
Gross profit margin	%	33.5	42.4
Effective tax rate	%	27.4	23.2
Net profit margin	%	12.9	13.6

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ADITYA BIRLA MONEY Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 20 billion as compared to Rs 13 billion in FY23, thereby witnessing an increase of 55.7%.
• Current assets rose 57% and stood at Rs 20 billion, while fixed assets rose 18% and stood at Rs 720 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 21 billion as against Rs 14 billion during FY23, thereby witnessing a growth of 55%.

ADITYA BIRLA MONEY Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,091	1,627	49.2
Current Liabilities	Rs m	12,542	19,534	55.7
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	13,565	21,055	55.2
Current assets	Rs m	12,953	20,335	57.0
Fixed Assets	Rs m	612	720	17.6
Total Assets	Rs m	13,565	21,055	55.2

ADITYA BIRLA MONEY Cash Flow Statement Analysis

• ADITYA BIRLA MONEY's cash flow from operating activities (CFO) during FY24 stood at Rs -4 billion, an improvement of 480.0% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -41 million, an improvement of 9.1% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 4 billion, an improvement of 280% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -454 million from the Rs 258 million net cash flows seen during FY23.

ADITYA BIRLA MONEY 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	-765	-4,438	-
Cash Flow from Investing Activities	Rs m	-38	-41	-
Cash Flow from Financing Activities	Rs m	1,061	4,025	279.5%
Net Cash Flow	Rs m	258	-454	-

Current Valuations for ADITYA BIRLA MONEY

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.4, an improvement from the EPS of Rs 6.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 171.1, stands at 18.3 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 5.9 times, while the price to sales ratio stands at 2.5 times.
• The company's price to cash flow (P/CF) ratio stood at 8.9 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	46.6	69.0
TTM Earnings per share	Rs	6.0	9.4
Diluted earnings per share	Rs	6.0	9.4
Price to Cash Flow	x	6.4	8.9
TTM P/E ratio	x	7.6	18.3
Price / Book Value ratio	x	3.1	3.4
Market Cap	Rs m	3,329	5,473
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ADITYA BIRLA MONEY

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.0x during FY24, from 1.0x 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 1.7x during FY24, from 1.9x 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 32.6% during FY24, from 31.1% 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 improved and stood at 99.6% during FY24, from 89.3% 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 6.9% during FY24, from 6.2% 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	1.0	1.0
Debtors’ Days	Days	254	567
Interest coverage	x	1.9	1.7
Debt to equity ratio	x	0.0	0.0
Return on assets	%	6.2	6.9
Return on equity	%	31.1	32.6
Return on capital employed	%	89.3	99.6

To see how ADITYA BIRLA MONEY has performed over the last 5 years, please visit here.

ADITYA BIRLA MONEY Share Price Performance

Over the last one year, ADITYA BIRLA MONEY share price has moved up from Rs 59.6 to Rs 171.1, registering a gain of Rs 111.5 or around 186.9%.

Overall, the S&P BSE SENSEX is up 22.8% over the year.

(To know more, check out historical annual results for ADITYA BIRLA MONEY and quarterly results for ADITYA BIRLA MONEY)