CONSOLIDATED CONST. 2023-24 Annual Report Analysis

Wed, 31 Jul

CONSOLIDATED CONST. 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.

CONSOLIDATED CONST. Income Statement Analysis

• Operating income during the year fell 6.1% 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 500.0% in FY24 as against 23.1% in FY23.
• Depreciation charges decreased by 15.1% and finance costs decreased by 77.9% YoY, respectively.
• Other income grew by 339.1% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 80.8% in FY23 to 514.1% in FY24.

CONSOLIDATED CONST. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	1,393	1,308	-6.1%
Other income	Rs m	40	176	339.1%
Total Revenues	Rs m	1,433	1,485	3.6%
Gross profit	Rs m	-322	6,541	NA
Depreciation	Rs m	64	55	-15.1%
Interest	Rs m	790	175	-77.9%
Profit before tax	Rs m	-1,136	6,488	NA
Tax	Rs m	-11	-238	NA
Profit after tax	Rs m	-1,126	6,726	NA
Gross profit margin	%	-23.1	500.0
Effective tax rate	%	0.9	-3.7
Net profit margin	%	-80.8	514.1

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CONSOLIDATED CONST. Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 5 billion as compared to Rs 17 billion in FY23, thereby witnessing an decrease of -74.0%.
• Long-term debt stood at Rs 372 million as compared to Rs 352 million during FY23, a growth of 5.7%.
• Current assets rose 29% and stood at Rs 2 billion, while fixed assets fell 68% and stood at Rs 3 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 5 billion as against Rs 12 billion during FY23, thereby witnessing a fall of 54%.

CONSOLIDATED CONST. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	-6,457	276	NA
Current Liabilities	Rs m	17,363	4,523	-74.0
Long-term Debt	Rs m	352	372	5.7
Total Liabilities	Rs m	11,761	5,422	-53.9
Current assets	Rs m	1,723	2,214	28.5
Fixed Assets	Rs m	10,038	3,208	-68.0
Total Assets	Rs m	11,761	5,422	-53.9

CONSOLIDATED CONST. Cash Flow Statement Analysis

• CONSOLIDATED CONST.'s cash flow from operating activities (CFO) during FY24 stood at Rs 505 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 1 billion on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -2 billion on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 31 million from the Rs -16 million net cash flows seen during FY23.

CONSOLIDATED CONST. 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	-4	505	-
Cash Flow from Investing Activities	Rs m	-1	1,262	-
Cash Flow from Financing Activities	Rs m	-11	-1,737	-
Net Cash Flow	Rs m	-16	31	-

Current Valuations for CONSOLIDATED CONST.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 16.9, an improvement from the EPS of Rs -2.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1.5, stands at 0.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.2 times, while the price to sales ratio stands at 0.5 times.
• The company's price to cash flow (P/CF) ratio stood at 0.1 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	3.5	3.3
TTM Earnings per share	Rs	-2.8	16.9
Diluted earnings per share	Rs	-2.8	16.9
Price to Cash Flow	x	-0.5	0.1
TTM P/E ratio	x	-0.5	0.1
Price / Book Value ratio	x	-0.2	2.0
Market Cap	Rs m	1,024	562
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for CONSOLIDATED CONST.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 0.5x during FY24, from 0.1x 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 38.2x 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 2,437.5% 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 improved and stood at 1,028.4% during FY24, from 5.7% 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 127.3% during FY24, from -2.9% 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	0.1	0.5
Debtors’ Days	Days	1,404	646
Interest coverage	x	-0.4	38.2
Debt to equity ratio	x	-0.1	1.3
Return on assets	%	-2.9	127.3
Return on equity	%	17.4	2,437.5
Return on capital employed	%	5.7	1,028.4

To see how CONSOLIDATED CONST. has performed over the last 5 years, please visit here.

CONSOLIDATED CONST. Share Price Performance

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(To know more, check out historical annual results for CONSOLIDATED CONST. and quarterly results for CONSOLIDATED CONST.)