AGRI TECH INDIA 2022-23 Annual Report Analysis

Fri, 23 Jun

AGRI TECH INDIA 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.

AGRI TECH INDIA Income Statement Analysis

• Operating income during the year fell 18.2% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and stood at 302.1% in FY23 as against 851.2% in FY22.
• Depreciation charges increased by 0.0% and finance costs decreased by 99.1% YoY, respectively.
• Other income declined by 73.6% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year declined from 964.6% in FY22 to 166.7% in FY23.

AGRI TECH INDIA Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	3	2	-18.2%
Other income	Rs m	15	4	-73.6%
Total Revenues	Rs m	17	6	-64.4%
Gross profit	Rs m	24	-7	NA
Depreciation	Rs m	0	0	0.0%
Interest	Rs m	11	0	-99.1%
Profit before tax	Rs m	27	-3	NA
Tax	Rs m	0	0	0.0
Profit after tax	Rs m	27	-4	NA
Gross profit margin	%	851.2	-302.1
Effective tax rate	%	0.0	-11.2
Net profit margin	%	964.6	-166.7

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AGRI TECH INDIA Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 284 million as compared to Rs 237 million in FY22, thereby witnessing an increase of 19.8%.
• Current assets rose 0% and stood at Rs 823 million, while fixed assets rose 12% and stood at Rs 377 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 1 billion as against Rs 1 billion during FY22, thereby witnessing a growth of 4%.

AGRI TECH INDIA Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	919	915	-0.4
Current Liabilities	Rs m	237	284	19.8
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	1,157	1,201	3.8
Current assets	Rs m	820	823	0.4
Fixed Assets	Rs m	337	377	11.9
Total Assets	Rs m	1,157	1,201	3.8

AGRI TECH INDIA Cash Flow Statement Analysis

• AGRI TECH INDIA's cash flow from operating activities (CFO) during FY23 stood at Rs -15 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -31 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 49 million, an improvement of 137% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 3 million from the Rs 0 million net cash flows seen during FY22.

AGRI TECH INDIA 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	-190	-15	-
Cash Flow from Investing Activities	Rs m	321	-31	-
Cash Flow from Financing Activities	Rs m	-132	49	-
Net Cash Flow	Rs m	0	3	-

Current Valuations for AGRI TECH INDIA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -0.7, an decline from the EPS of Rs 4.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 103.5, stands at -157.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.7 times, while the price to sales ratio stands at 263.9 times.
• The company's price to cash flow (P/CF) ratio stood at -165.1 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	0.5	0.4
TTM Earnings per share	Rs	4.6	-0.7
Diluted earnings per share	Rs	4.6	-0.7
Price to Cash Flow	x	26.3	-165.1
TTM P/E ratio	x	26.5	-157.2
Price / Book Value ratio	x	0.6	0.7
Market Cap	Rs m	517	609
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for AGRI TECH INDIA

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 2.9x during FY23, from 3.5x 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 deteriorated and stood at -33.9x during FY23, from 3.5x 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 declined and down at -0.4% during FY23, from 3.0% 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 declined and down at -0.4% during FY23, from 4.2% 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 declined and down at -0.3% during FY23, from 3.3% 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	3.5	2.9
Debtors’ Days	Days	0	0
Interest coverage	x	3.5	-33.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	3.3	-0.3
Return on equity	%	3.0	-0.4
Return on capital employed	%	4.2	-0.4

To see how AGRI TECH INDIA has performed over the last 5 years, please visit here.

AGRI TECH INDIA Share Price Performance

Over the last one year, AGRI TECH INDIA share price has moved up from Rs 68.0 to Rs 103.5, registering a gain of Rs 35.6 or around 52.3%.

Overall, the S&P BSE SENSEX is up 20.1% over the year.

(To know more, check out historical annual results for AGRI TECH INDIA and quarterly results for AGRI TECH INDIA)