BONDADA ENGINEERING 2023-24 Annual Report Analysis

Wed, 24 Jul

BONDADA ENGINEERING 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.

BONDADA ENGINEERING Income Statement Analysis

• Operating income during the year rose 116.1% on a year-on-year (YoY) basis.
• The company's operating profit increased by 129.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 8.6% in FY24 as against 8.0% in FY23.
• Depreciation charges decreased by 47.9% and finance costs increased by 58.6% YoY, respectively.
• Other income grew by 614.3% YoY.
• Net profit for the year grew by 170.3% YoY.
• Net profit margins during the year grew from 4.6% in FY23 to 5.8% in FY24.

BONDADA ENGINEERING Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	3,706	8,007	116.1%
Other income	Rs m	4	30	614.3%
Total Revenues	Rs m	3,710	8,037	116.6%
Gross profit	Rs m	298	685	129.8%
Depreciation	Rs m	18	10	-47.9%
Interest	Rs m	56	89	58.6%
Profit before tax	Rs m	228	617	170.5%
Tax	Rs m	57	154	170.9%
Profit after tax	Rs m	171	463	170.3%
Gross profit margin	%	8.0	8.6
Effective tax rate	%	24.9	24.9
Net profit margin	%	4.6	5.8

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BONDADA ENGINEERING Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 3 billion as compared to Rs 2 billion in FY23, thereby witnessing an increase of 92.1%.
• Long-term debt stood at Rs 150 million as compared to Rs 40 million during FY23, a growth of 275.5%.
• Current assets rose 95% and stood at Rs 4 billion, while fixed assets rose 164% and stood at Rs 559 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 5 billion as against Rs 3 billion during FY23, thereby witnessing a growth of 101%.

BONDADA ENGINEERING Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	784	1,623	107.1
Current Liabilities	Rs m	1,642	3,155	92.1
Long-term Debt	Rs m	40	150	275.5
Total Liabilities	Rs m	2,507	5,045	101.2
Current assets	Rs m	2,295	4,487	95.5
Fixed Assets	Rs m	212	559	163.6
Total Assets	Rs m	2,507	5,045	101.2

BONDADA ENGINEERING Cash Flow Statement Analysis

• BONDADA ENGINEERING's cash flow from operating activities (CFO) during FY24 stood at Rs 540 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -621 million, an improvement of 416.3% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 106 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 26 million from the Rs 2 million net cash flows seen during FY23.

BONDADA ENGINEERING 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	-324	540	-
Cash Flow from Investing Activities	Rs m	-120	-621	-
Cash Flow from Financing Activities	Rs m	446	106	-76.2%
Net Cash Flow	Rs m	2	26	1,441.0%

Current Valuations for BONDADA ENGINEERING

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 21.4, an improvement from the EPS of Rs 10.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 2,680.1, stands at 125.0 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 35.7 times, while the price to sales ratio stands at 7.2 times.
• The company's price to cash flow (P/CF) ratio stood at 25.0 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	232.9	370.7
TTM Earnings per share	Rs	10.8	21.4
Diluted earnings per share	Rs	7.9	21.4
Price to Cash Flow	x	0.0	25.0
TTM P/E ratio	x	0.0	125.0
Price / Book Value ratio	x	0.0	7.3
Market Cap	Rs m	0	11,800
Dividends per share (Unadj.)	Rs	0.1	0.2

Ratio Analysis for BONDADA ENGINEERING

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.4x during FY24, from 1.4x 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 8.0x during FY24, from 5.1x 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 28.5% during FY24, from 21.9% 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 39.8% during FY24, from 34.5% 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 10.9% 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	1.4	1.4
Debtors’ Days	Days	1,260	943
Interest coverage	x	5.1	8.0
Debt to equity ratio	x	0.1	0.1
Return on assets	%	9.1	10.9
Return on equity	%	21.9	28.5
Return on capital employed	%	34.5	39.8

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

BONDADA ENGINEERING Share Price Performance

Over the last one year, BONDADA ENGINEERING share price has moved up from Rs 0.0 to Rs 2,680.1, registering a gain of Rs 2,680.1 or around 0.0%.

Overall, the S&P BSE SENSEX is up 21.0% over the year.

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