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AWFIS SPACE SOLUTIONS LTD. 2023-24 Annual Report Analysis

Wed, 11 Sep

AWFIS SPACE SOLUTIONS LTD. 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.

AWFIS SPACE SOLUTIONS LTD. Income Statement Analysis

• Operating income during the year rose 55.7% on a year-on-year (YoY) basis.
• The company's operating profit increased by 57.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 28.9% in FY24 as against 28.5% in FY23.
• Depreciation charges increased by 30.7% and finance costs increased by 27.8% YoY, respectively.
• Other income grew by 26.7% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 8.6% in FY23 to 2.1% in FY24.

AWFIS SPACE SOLUTIONS LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	5,453	8,488	55.7%
Other income	Rs m	205	260	26.7%
Total Revenues	Rs m	5,658	8,748	54.6%
Gross profit	Rs m	1,556	2,454	57.8%
Depreciation	Rs m	1,500	1,960	30.7%
Interest	Rs m	727	930	27.8%
Profit before tax	Rs m	-466	-176	NA
Tax	Rs m	0	0	0.0
Profit after tax	Rs m	-466	-176	NA
Gross profit margin	%	28.5	28.9
Effective tax rate	%	0.0	0.0
Net profit margin	%	-8.6	-2.1

For Investors: Our Big Prediction

AWFIS SPACE SOLUTIONS LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 5 billion as compared to Rs 3 billion in FY23, thereby witnessing an increase of 62.9%.
• Long-term debt stood at Rs 233 million as compared to Rs 40 million during FY23, a growth of 486.2%.
• Current assets rose 114% and stood at Rs 3 billion, while fixed assets rose 39% and stood at Rs 11 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 14 billion as against Rs 9 billion during FY23, thereby witnessing a growth of 50%.

AWFIS SPACE SOLUTIONS LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,603	2,337	45.8
Current Liabilities	Rs m	2,805	4,568	62.9
Long-term Debt	Rs m	40	233	486.2
Total Liabilities	Rs m	9,306	13,981	50.2
Current assets	Rs m	1,386	2,970	114.2
Fixed Assets	Rs m	7,920	11,011	39.0
Total Assets	Rs m	9,306	13,981	50.2

AWFIS SPACE SOLUTIONS LTD. Cash Flow Statement Analysis

• AWFIS SPACE SOLUTIONS LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs 2 billion, an improvement of 25.9% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -2 billion, an improvement of 3.7% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -645 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 18 million from the Rs -27 million net cash flows seen during FY23.

AWFIS SPACE SOLUTIONS LTD. 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	1,814	2,284	25.9%
Cash Flow from Investing Activities	Rs m	-1,563	-1,620	-
Cash Flow from Financing Activities	Rs m	-278	-645	-
Net Cash Flow	Rs m	-27	18	-

Current Valuations for AWFIS SPACE SOLUTIONS LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -9.1, an improvement from the EPS of Rs -15.5 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 771.0, stands at -308.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 23.2 times, while the price to sales ratio stands at 1.8 times.
• The company's price to cash flow (P/CF) ratio stood at 30.3 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	181.0	439.1
TTM Earnings per share	Rs	-15.5	-9.1
Diluted earnings per share	Rs	-6.6	-2.5
Price to Cash Flow	x	0.0	30.3
TTM P/E ratio	x	0.0	-308.2
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	54,133
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for AWFIS SPACE SOLUTIONS LTD.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 0.7x during FY24, from 0.5x 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 0.8x during FY24, from 0.4x 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 -7.5% during FY24, from -29.1% 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 29.3% during FY24, from 15.9% 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 5.4% during FY24, from 2.8% 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	0.5	0.7
Debtors’ Days	Days	32	32
Interest coverage	x	0.4	0.8
Debt to equity ratio	x	0.0	0.1
Return on assets	%	2.8	5.4
Return on equity	%	-29.1	-7.5
Return on capital employed	%	15.9	29.3

To see how AWFIS SPACE SOLUTIONS LTD. has performed over the last 5 years, please visit here.

AWFIS SPACE SOLUTIONS LTD. Share Price Performance

Over the last one year, AWFIS SPACE SOLUTIONS LTD. share price has moved up from Rs 0.0 to Rs 771.0, registering a gain of Rs 771.0 or around 0.0%.

Overall, the S&P BSE SENSEX is up 22.2% over the year.

(To know more, check out historical annual results for AWFIS SPACE SOLUTIONS LTD. and quarterly results for AWFIS SPACE SOLUTIONS LTD.)