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AUTO CORP. OF GOA 2023-24 Annual Report Analysis
Mon, 3 Jun

AUTO CORP. OF GOA 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.

AUTO CORP. OF GOA Income Statement Analysis

  • Operating income during the year rose 15.4% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 26.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 7.3% in FY24 as against 6.7% in FY23.
  • Depreciation charges increased by 6.0% and finance costs increased by 2.4% YoY, respectively.
  • Other income grew by 67.8% YoY.
  • Net profit for the year grew by 37.8% YoY.
  • Net profit margins during the year grew from 5.5% in FY23 to 6.6% in FY24.

AUTO CORP. OF GOA Income Statement 2023-24

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Net Sales Rs m 5,062 5,843 15.4%
Other income Rs m 79 133 67.8%
Total Revenues Rs m 5,141 5,977 16.2%
Gross profit Rs m 339 428 26.1%
Depreciation Rs m 47 50 6.0%
Interest Rs m 1 1 2.4%
Profit before tax Rs m 371 511 37.6%
Tax Rs m 93 127 36.9%
Profit after tax Rs m 278 384 37.8%
Gross profit margin % 6.7 7.3
Effective tax rate % 25.0 24.9
Net profit margin % 5.5 6.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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AUTO CORP. OF GOA Balance Sheet Analysis

  • The company's current liabilities during FY24 stood at Rs 1 billion as compared to Rs 1 billion in FY23, thereby witnessing an increase of 6.5%.
  • Current assets rose 14% and stood at Rs 3 billion, while fixed assets fell 3% and stood at Rs 611 million in FY24.
  • Overall, the total assets and liabilities for FY24 stood at Rs 4 billion as against Rs 3 billion during FY23, thereby witnessing a growth of 11%.

AUTO CORP. OF GOA Balance Sheet as on March 2024

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Networth Rs m 1,937 2,189 13.0
 
Current Liabilities Rs m 1,323 1,409 6.5
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 3,364 3,729 10.9
 
Current assets Rs m 2,732 3,118 14.1
Fixed Assets Rs m 632 611 -3.2
Total Assets Rs m 3,364 3,729 10.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



AUTO CORP. OF GOA Cash Flow Statement Analysis

  • AUTO CORP. OF GOA's cash flow from operating activities (CFO) during FY24 stood at Rs 610 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY24 stood at Rs -107 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY24 stood at Rs -222 million on a YoY basis.
  • Overall, net cash flows for the company during FY24 stood at Rs 281 million from the Rs -49 million net cash flows seen during FY23.

AUTO CORP. OF GOA 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 -43 610 -
Cash Flow from Investing Activities Rs m -286 -107 -
Cash Flow from Financing Activities Rs m 279 -222 -
Net Cash Flow Rs m -49 281 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for AUTO CORP. OF GOA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 63.0, an improvement from the EPS of Rs 45.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,930.0, stands at 30.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 5.4 times, while the price to sales ratio stands at 2.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 21.1 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 831.2 959.5
TTM Earnings per share Rs 45.7 63.0
Diluted earnings per share Rs 45.7 63.0
Price to Cash Flow x 13.4 21.1
TTM P/E ratio x 15.7 30.6
Price / Book Value ratio x 2.8 4.2
Market Cap Rs m 5,499 9,135
Dividends per share (Unadj.) Rs 17.5 20.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for AUTO CORP. OF GOA

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.2x during FY24, from 2.1x 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 601.8x during FY24, from 448.2x 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 improved and stood at 17.5% during FY24, from 14.4% 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 23.4% during FY24, from 19.2% 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 10.3% during FY24, from 8.3% 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 2.1 2.2
Debtors’ Days Days 585 478
Interest coverage x 448.2 601.8
Debt to equity ratio x 0.0 0.0
Return on assets % 8.3 10.3
Return on equity % 14.4 17.5
Return on capital employed % 19.2 23.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how AUTO CORP. OF GOA has performed over the last 5 years, please visit here.

AUTO CORP. OF GOA Share Price Performance

Over the last one year, AUTO CORP. OF GOA share price has moved up from Rs 854.9 to Rs 1,930.0, registering a gain of Rs 1,075.2 or around 125.8%.

Overall, the S&P BSE SENSEX is up 20.5% over the year.

(To know more, check out historical annual results for AUTO CORP. OF GOA and quarterly results for AUTO CORP. OF GOA)

Annual Report FAQs

What is the current share price of AUTO CORP. OF GOA?

AUTO CORP. OF GOA currently trades at Rs 2,172.8 per share. You can check out the latest share price performance of AUTO CORP. OF GOA here...

What was the revenue of AUTO CORP. OF GOA in FY24? How does it compare to earlier years?

The revenues of AUTO CORP. OF GOA stood at Rs 5,977 m in FY24, which was up 16.2% compared to Rs 5,141 m reported in FY23.

AUTO CORP. OF GOA's revenue has grown from Rs 3,436 m in FY20 to Rs 5,977 m in FY24.

Over the past 5 years, the revenue of AUTO CORP. OF GOA has grown at a CAGR of 14.8%.

What was the net profit of AUTO CORP. OF GOA in FY24? How does it compare to earlier years?

The net profit of AUTO CORP. OF GOA stood at Rs 384 m in FY24, which was up 37.8% compared to Rs 278 m reported in FY23.

This compares to a net profit of Rs 34 m in FY22 and a net loss of Rs -125 m in FY21.

Over the past 5 years, AUTO CORP. OF GOA net profit has grown at a CAGR of 40.1%.

What does the cash flow statement of AUTO CORP. OF GOA reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of AUTO CORP. OF GOA reveals:

  • Cash flow from operations increased in FY24 and stood at Rs 610 m as compared to Rs -43 m in FY23.
  • Cash flow from investments increased in FY24 and stood at Rs -107 m as compared to Rs -286 m in FY23.
  • Cash flow from financial activity decreased in FY24 and stood at Rs -222 m as compared to Rs 279 m in FY23.

Here's the cash flow statement of AUTO CORP. OF GOA for the past 5 years.

(Rs m)FY20FY21FY22FY23FY24
From Operations215-200-286-43610
From Investments252-3390-286-107
From Financial Activity-386137254279-222
Net Cashflow81-9658-49281

What does the Key Ratio analysis of AUTO CORP. OF GOA reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of AUTO CORP. OF GOA reveals:

  • Operating profit margins witnessed a fall and down at 7.3% in FY24 as against 6.7% in FY23.
  • Net profit margins grew from 5.5% in FY23 to 6.6% in FY24.
  • Debt to Equity ratio for FY24 stood at 0.0 as compared to 0.0 in FY23.

Here's the ratio/financial analysis of AUTO CORP. OF GOA for the past 5 years.

 FY20FY21FY22FY23FY24
Operating Profit Margin (%)2.5-18.60.46.77.3
Net Profit Margin (%)3.0-10.81.25.56.6
Debt to Equity Ratio (x)0.00.00.00.00.0

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