ATLANTA 2023-24 Annual Report Analysis

Wed, 9 Oct

ATLANTA 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.

ATLANTA Income Statement Analysis

• Operating income during the year rose 157.1% on a year-on-year (YoY) basis.
• The company's operating profit increased by 2528.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 389.4% in FY24 as against 38.1% in FY23.
• Depreciation charges increased by 15.9% and finance costs decreased by 27.4% YoY, respectively.
• Other income grew by 97.9% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 62.7% in FY23 to 352.4% in FY24.

ATLANTA Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	517	1,328	157.1%
Other income	Rs m	81	161	97.9%
Total Revenues	Rs m	598	1,489	149.0%
Gross profit	Rs m	197	5,169	2,528.2%
Depreciation	Rs m	309	358	15.9%
Interest	Rs m	61	44	-27.4%
Profit before tax	Rs m	-92	4,928	NA
Tax	Rs m	232	249	7.5%
Profit after tax	Rs m	-324	4,679	NA
Gross profit margin	%	38.1	389.4
Effective tax rate	%	-251.9	5.1
Net profit margin	%	-62.7	352.4

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

ATLANTA Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 3 billion as compared to Rs 8 billion in FY23, thereby witnessing an decrease of -69.1%.
• Long-term debt down at Rs 140 million as compared to Rs 190 million during FY23, a fall of 26.3%.
• Current assets rose 5% and stood at Rs 2 billion, while fixed assets fell 13% and stood at Rs 2 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 5 billion as against Rs 5 billion during FY23, thereby witnessing a fall of 5%.

ATLANTA Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	-3,846	1,578	NA
Current Liabilities	Rs m	8,135	2,517	-69.1
Long-term Debt	Rs m	190	140	-26.3
Total Liabilities	Rs m	4,924	4,694	-4.7
Current assets	Rs m	2,257	2,365	4.8
Fixed Assets	Rs m	2,667	2,329	-12.7
Total Assets	Rs m	4,924	4,694	-4.7

ATLANTA Cash Flow Statement Analysis

• ATLANTA's cash flow from operating activities (CFO) during FY24 stood at Rs -453 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 58 million, an improvement of 734.4% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -87 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -481 million from the Rs 455 million net cash flows seen during FY23.

ATLANTA 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	457	-453	-
Cash Flow from Investing Activities	Rs m	7	58	734.4%
Cash Flow from Financing Activities	Rs m	-10	-87	-
Net Cash Flow	Rs m	455	-481	-

Current Valuations for ATLANTA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 57.4, an improvement from the EPS of Rs -4.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 57.0, stands at 0.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.9 times, while the price to sales ratio stands at 3.5 times.
• The company's price to cash flow (P/CF) ratio stood at 0.3 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	6.3	16.3
TTM Earnings per share	Rs	-4.0	57.4
Diluted earnings per share	Rs	-4.0	57.4
Price to Cash Flow	x	-82.7	0.3
TTM P/E ratio	x	-3.9	0.8
Price / Book Value ratio	x	-0.5	1.0
Market Cap	Rs m	1,795	1,610
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ATLANTA

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 0.9x during FY24, from 0.3x 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 111.9x during FY24, from -0.5x 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 296.5% during FY24, from 8.4% 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 289.4% during FY24, from 0.8% 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 100.6% during FY24, from -5.3% 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	0.3	0.9
Debtors’ Days	Days	3,592	3,487
Interest coverage	x	-0.5	111.9
Debt to equity ratio	x	0.0	0.1
Return on assets	%	-5.3	100.6
Return on equity	%	8.4	296.5
Return on capital employed	%	0.8	289.4

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

ATLANTA Share Price Performance

Over the last one year, ATLANTA share price has moved up from Rs 14.4 to Rs 57.0, registering a gain of Rs 42.6 or around 295.8%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 8,179.3 (up 1.7%). Over the last one year it has moved up from 4,652.2 to 8,179.3, a gain of 3,527 points (up 75.8%).

Overall, the S&P BSE SENSEX is up 25.1% over the year.

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