ANTONY WASTE HANDLING 2023-24 Annual Report Analysis

Tue, 24 Sep

ANTONY WASTE HANDLING 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.

ANTONY WASTE HANDLING Income Statement Analysis

• Operating income during the year rose 2.2% on a year-on-year (YoY) basis.
• The company's operating profit increased by 21.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 20.4% in FY24 as against 17.2% in FY23.
• Depreciation charges increased by 36.6% and finance costs increased by 48.3% YoY, respectively.
• Other income grew by 12.3% YoY.
• Net profit for the year grew by 18.1% YoY.
• Net profit margins during the year grew from 9.9% in FY23 to 11.4% in FY24.

ANTONY WASTE HANDLING Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	8,542	8,729	2.2%
Other income	Rs m	210	235	12.3%
Total Revenues	Rs m	8,752	8,964	2.4%
Gross profit	Rs m	1,470	1,783	21.3%
Depreciation	Rs m	390	533	36.6%
Interest	Rs m	266	395	48.3%
Profit before tax	Rs m	1,023	1,091	6.6%
Tax	Rs m	177	92	-48.1%
Profit after tax	Rs m	846	999	18.1%
Gross profit margin	%	17.2	20.4
Effective tax rate	%	17.3	8.4
Net profit margin	%	9.9	11.4

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

ANTONY WASTE HANDLING Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 3 billion as compared to Rs 3 billion in FY23, thereby witnessing an increase of 10.8%.
• Long-term debt stood at Rs 3 billion as compared to Rs 3 billion during FY23, a growth of 17.5%.
• Current assets rose 10% and stood at Rs 4 billion, while fixed assets rose 18% and stood at Rs 10 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 14 billion as against Rs 12 billion during FY23, thereby witnessing a growth of 15%.

ANTONY WASTE HANDLING Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	4,853	5,737	18.2
Current Liabilities	Rs m	2,785	3,087	10.8
Long-term Debt	Rs m	2,614	3,071	17.5
Total Liabilities	Rs m	12,180	14,059	15.4
Current assets	Rs m	3,646	4,028	10.5
Fixed Assets	Rs m	8,534	10,031	17.5
Total Assets	Rs m	12,180	14,059	15.4

ANTONY WASTE HANDLING Cash Flow Statement Analysis

• ANTONY WASTE HANDLING's cash flow from operating activities (CFO) during FY24 stood at Rs 1 billion, an improvement of 55.3% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -2 billion on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 347 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 222 million from the Rs -219 million net cash flows seen during FY23.

ANTONY WASTE HANDLING 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	900	1,398	55.3%
Cash Flow from Investing Activities	Rs m	-2,604	-1,523	-
Cash Flow from Financing Activities	Rs m	1,485	347	-76.6%
Net Cash Flow	Rs m	-219	222	-

Current Valuations for ANTONY WASTE HANDLING

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 35.2, an improvement from the EPS of Rs 29.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 721.5, stands at 20.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 3.6 times, while the price to sales ratio stands at 2.3 times.
• The company's price to cash flow (P/CF) ratio stood at 7.6 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	302.0	307.8
TTM Earnings per share	Rs	29.9	35.2
Diluted earnings per share	Rs	29.8	35.2
Price to Cash Flow	x	5.7	7.6
TTM P/E ratio	x	8.3	20.8
Price / Book Value ratio	x	1.8	2.0
Market Cap	Rs m	8,525	11,709
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ANTONY WASTE HANDLING

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.3x during FY24, from 1.3x 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 deteriorated and stood at 3.8x during FY24, from 4.8x 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 declined and down at 17.4% during FY24, from 17.4% 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 declined and down at 16.9% during FY24, from 17.3% 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 9.9% during FY24, from 9.1% 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	1.3	1.3
Debtors’ Days	Days	925	1,053
Interest coverage	x	4.8	3.8
Debt to equity ratio	x	0.5	0.5
Return on assets	%	9.1	9.9
Return on equity	%	17.4	17.4
Return on capital employed	%	17.3	16.9

To see how ANTONY WASTE HANDLING has performed over the last 5 years, please visit here.

ANTONY WASTE HANDLING Share Price Performance

Over the last one year, ANTONY WASTE HANDLING share price has moved up from Rs 322.2 to Rs 721.5, registering a gain of Rs 399.4 or around 124.0%.

Overall, the S&P BSE SENSEX is up 27.3% over the year.

(To know more, check out historical annual results for ANTONY WASTE HANDLING and quarterly results for ANTONY WASTE HANDLING)