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BANSWARA SYNTEX 2023-24 Annual Report Analysis
Wed, 17 Jul

BANSWARA SYNTEX 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.

BANSWARA SYNTEX Income Statement Analysis

  • Operating income during the year fell 15.7% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 48.4% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 8.1% in FY24 as against 13.3% in FY23.
  • Depreciation charges increased by 6.4% and finance costs decreased by 6.7% YoY, respectively.
  • Other income grew by 18.6% YoY.
  • Net profit for the year declined by 68.5% YoY.
  • Net profit margins during the year declined from 7.5% in FY23 to 2.8% in FY24.

BANSWARA SYNTEX Income Statement 2023-24

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Net Sales Rs m 14,988 12,639 -15.7%
Other income Rs m 152 180 18.6%
Total Revenues Rs m 15,140 12,819 -15.3%
Gross profit Rs m 1,987 1,024 -48.4%
Depreciation Rs m 408 434 6.4%
Interest Rs m 317 296 -6.7%
Profit before tax Rs m 1,413 474 -66.4%
Tax Rs m 286 119 -58.4%
Profit after tax Rs m 1,127 355 -68.5%
Gross profit margin % 13.3 8.1
Effective tax rate % 20.2 25.1
Net profit margin % 7.5 2.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

BANSWARA SYNTEX Balance Sheet Analysis

  • The company's current liabilities during FY24 down at Rs 4 billion as compared to Rs 4 billion in FY23, thereby witnessing an decrease of -12.7%.
  • Long-term debt stood at Rs 1 billion as compared to Rs 1 billion during FY23, a growth of 20.4%.
  • Current assets fell 9% and stood at Rs 6 billion, while fixed assets rose 12% and stood at Rs 5 billion in FY24.
  • Overall, the total assets and liabilities for FY24 stood at Rs 11 billion as against Rs 11 billion during FY23, thereby witnessing a growth of 0%.

BANSWARA SYNTEX Balance Sheet as on March 2024

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Networth Rs m 5,091 5,350 5.1
 
Current Liabilities Rs m 4,073 3,554 -12.7
Long-term Debt Rs m 1,236 1,488 20.4
Total Liabilities Rs m 10,686 10,700 0.1
 
Current assets Rs m 6,238 5,698 -8.7
Fixed Assets Rs m 4,448 5,002 12.5
Total Assets Rs m 10,686 10,700 0.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



BANSWARA SYNTEX Cash Flow Statement Analysis

  • BANSWARA SYNTEX's cash flow from operating activities (CFO) during FY24 stood at Rs 1 billion, an improvement of 610.5% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY24 stood at Rs -901 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY24 stood at Rs -584 million on a YoY basis.
  • Overall, net cash flows for the company during FY24 stood at Rs -61 million from the Rs -41 million net cash flows seen during FY23.

BANSWARA SYNTEX 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 200 1,424 610.5%
Cash Flow from Investing Activities Rs m -994 -901 -
Cash Flow from Financing Activities Rs m 753 -584 -
Net Cash Flow Rs m -41 -61 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for BANSWARA SYNTEX

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 10.4, an decline from the EPS of Rs 32.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 167.0, stands at 16.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.1 times, while the price to sales ratio stands at 0.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 6.7 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 437.9 369.2
TTM Earnings per share Rs 32.9 10.4
Diluted earnings per share Rs 32.9 10.4
Price to Cash Flow x 2.7 6.7
TTM P/E ratio x 3.7 16.9
Price / Book Value ratio x 0.8 1.0
Market Cap Rs m 4,159 5,297
Dividends per share (Unadj.) Rs 3.0 1.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for BANSWARA SYNTEX

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.6x during FY24, from 1.5x 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 deteriorated and stood at 2.6x during FY24, from 5.5x 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 declined and down at 6.6% during FY24, from 22.1% 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 declined and down at 11.3% during FY24, from 27.4% 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 declined and down at 6.1% during FY24, from 13.5% 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 1.5 1.6
Debtors’ Days Days 517 599
Interest coverage x 5.5 2.6
Debt to equity ratio x 0.2 0.3
Return on assets % 13.5 6.1
Return on equity % 22.1 6.6
Return on capital employed % 27.4 11.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

BANSWARA SYNTEX Share Price Performance

Over the last one year, BANSWARA SYNTEX share price has moved up from Rs 161.1 to Rs 167.0, registering a gain of Rs 5.9 or around 3.6%.

Overall, the S&P BSE SENSEX is up 21.2% over the year.

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

Annual Report FAQs

What is the current share price of BANSWARA SYNTEX?

BANSWARA SYNTEX currently trades at Rs 129.3 per share. You can check out the latest share price performance of BANSWARA SYNTEX here...

What was the revenue of BANSWARA SYNTEX in FY24? How does it compare to earlier years?

The revenues of BANSWARA SYNTEX stood at Rs 12,819 m in FY24, which was down -15.3% compared to Rs 15,140 m reported in FY23.

BANSWARA SYNTEX's revenue has fallen from Rs 13,024 m in FY20 to Rs 12,819 m in FY24.

Over the past 5 years, the revenue of BANSWARA SYNTEX has grown at a CAGR of -0.4%.

What was the net profit of BANSWARA SYNTEX in FY24? How does it compare to earlier years?

The net profit of BANSWARA SYNTEX stood at Rs 355 m in FY24, which was down -68.5% compared to Rs 1,127 m reported in FY23.

This compares to a net profit of Rs 456 m in FY22 and a net profit of Rs 138 m in FY21.

Over the past 5 years, BANSWARA SYNTEX net profit has grown at a CAGR of -9.7%.

What does the cash flow statement of BANSWARA SYNTEX 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 BANSWARA SYNTEX reveals:

  • Cash flow from operations increased in FY24 and stood at Rs 1,424 m as compared to Rs 200 m in FY23.
  • Cash flow from investments increased in FY24 and stood at Rs -901 m as compared to Rs -994 m in FY23.
  • Cash flow from financial activity decreased in FY24 and stood at Rs -584 m as compared to Rs 753 m in FY23.

Here's the cash flow statement of BANSWARA SYNTEX for the past 5 years.

(Rs m)FY20FY21FY22FY23FY24
From Operations2,0841,3245422001,424
From Investments-69-26-480-994-901
From Financial Activity-2,060-1,25749753-584
Net Cashflow-4542110-41-61

What does the Key Ratio analysis of BANSWARA SYNTEX 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 BANSWARA SYNTEX reveals:

  • Operating profit margins witnessed a fall and stood at 8.1% in FY24 as against 13.3% in FY23.
  • Net profit margins declined from 7.5% in FY23 to 2.8% in FY24.
  • Debt to Equity ratio for FY24 stood at 0.3 as compared to 0.2 in FY23.

Here's the ratio/financial analysis of BANSWARA SYNTEX for the past 5 years.

 FY20FY21FY22FY23FY24
Operating Profit Margin (%)11.210.19.813.38.1
Net Profit Margin (%)4.11.83.87.52.8
Debt to Equity Ratio (x)0.30.40.30.20.3

 

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