BLOOM DEKOR 2022-23 Annual Report Analysis

Thu, 29 Jun

BLOOM DEKOR has announced its results for the year ended March 2023. Let us have a look at the detailed performance review of the company during FY22-23.

BLOOM DEKOR Income Statement Analysis

• Operating income during the year fell 48.8% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a fall and down at 270.8% in FY23 as against 93.4% in FY22.
• Depreciation charges decreased by 51.8% and finance costs decreased by 96.2% YoY, respectively.
• Other income grew by 168.3% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 94.4% in FY22 to 195.7% in FY23.

BLOOM DEKOR Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	214	110	-48.8%
Other income	Rs m	0	1	168.3%
Total Revenues	Rs m	215	111	-48.3%
Gross profit	Rs m	-200	297	NA
Depreciation	Rs m	14	7	-51.8%
Interest	Rs m	48	2	-96.2%
Profit before tax	Rs m	-262	290	NA
Tax	Rs m	-60	75	NA
Profit after tax	Rs m	-202	215	NA
Gross profit margin	%	-93.4	270.8
Effective tax rate	%	22.9	25.9
Net profit margin	%	-94.4	195.7

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BLOOM DEKOR Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 29 million as compared to Rs 371 million in FY22, thereby witnessing an decrease of -92.1%.
• Long-term debt down at Rs 121 million as compared to Rs 189 million during FY22, a fall of 35.6%.
• Current assets fell 81% and stood at Rs 29 million, while fixed assets rose 21% and stood at Rs 83 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 112 million as against Rs 225 million during FY22, thereby witnessing a fall of 50%.

BLOOM DEKOR Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	-261	-47	NA
Current Liabilities	Rs m	371	29	-92.1
Long-term Debt	Rs m	189	121	-35.6
Total Liabilities	Rs m	225	112	-50.0
Current assets	Rs m	156	29	-81.3
Fixed Assets	Rs m	69	83	20.7
Total Assets	Rs m	225	112	-50.0

BLOOM DEKOR Cash Flow Statement Analysis

• BLOOM DEKOR's cash flow from operating activities (CFO) during FY23 stood at Rs 38 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 353 million, an improvement of 2,799.8% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -391 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -1 million from the Rs 0 million net cash flows seen during FY22.

BLOOM DEKOR Cash Flow Statement 2022-23

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-22	Mar-23
Cash Flow from Operating Activities	Rs m	-7	38	-
Cash Flow from Investing Activities	Rs m	12	353	2,799.8%
Cash Flow from Financing Activities	Rs m	-5	-391	-
Net Cash Flow	Rs m	0	-1	-

Current Valuations for BLOOM DEKOR

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 31.3, an improvement from the EPS of Rs -29.5 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 11.3, stands at 0.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at -1.6 times, while the price to sales ratio stands at 0.7 times.
• The company's price to cash flow (P/CF) ratio stood at 0.5 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Sales per share (Unadj.)	Rs	31.3	16.0
TTM Earnings per share	Rs	-29.5	31.3
Diluted earnings per share	Rs	-29.5	31.3
Price to Cash Flow	x	-0.4	0.5
TTM P/E ratio	x	-0.4	0.4
Price / Book Value ratio	x	-0.3	-2.2
Market Cap	Rs m	81	101
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for BLOOM DEKOR

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.0x during FY23, from 0.4x during FY22. 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 157.5x during FY23, from -4.4x during FY22. 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 -457.2% during FY23, from 77.3% during FY23. 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 391.5% during FY23, from 294.0% during FY22. 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 192.6% during FY23, from -68.4% during FY22. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Current ratio	x	0.4	1.0
Debtors’ Days	Days	236	89
Interest coverage	x	-4.4	157.5
Debt to equity ratio	x	-0.7	-2.6
Return on assets	%	-68.4	192.6
Return on equity	%	77.3	-457.2
Return on capital employed	%	294.0	391.5

To see how BLOOM DEKOR has performed over the last 5 years, please visit here.

BLOOM DEKOR Share Price Performance

Over the last one year, BLOOM DEKOR share price has moved down from Rs 12.9 to Rs 11.3, registering a loss of Rs 1.6 or around 12.6%.

Overall, the S&P BSE SENSEX is up 20.2% over the year.

(To know more, check out historical annual results for BLOOM DEKOR and quarterly results for BLOOM DEKOR)