CYIENT DLM 2023-24 Annual Report Analysis

Mon, 10 Jun

CYIENT DLM 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.

CYIENT DLM Income Statement Analysis

• Operating income during the year rose 43.2% on a year-on-year (YoY) basis.
• The company's operating profit increased by 23.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 9.0% in FY24 as against 10.5% in FY23.
• Depreciation charges increased by 14.9% and finance costs increased by 9.1% YoY, respectively.
• Other income grew by 357.9% YoY.
• Net profit for the year grew by 92.9% YoY.
• Net profit margins during the year grew from 3.8% in FY23 to 5.1% in FY24.

CYIENT DLM Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	8,320	11,919	43.2%
Other income	Rs m	69	314	357.9%
Total Revenues	Rs m	8,389	12,233	45.8%
Gross profit	Rs m	872	1,074	23.1%
Depreciation	Rs m	194	223	14.9%
Interest	Rs m	315	344	9.1%
Profit before tax	Rs m	432	821	90.3%
Tax	Rs m	114	209	83.2%
Profit after tax	Rs m	317	612	92.9%
Gross profit margin	%	10.5	9.0
Effective tax rate	%	26.5	25.5
Net profit margin	%	3.8	5.1

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

CYIENT DLM Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 5 billion as compared to Rs 7 billion in FY23, thereby witnessing an decrease of -27.6%.
• Long-term debt down at Rs 747 million as compared to Rs 996 million during FY23, a fall of 25.0%.
• Current assets rose 58% and stood at Rs 13 billion, while fixed assets rose 5% and stood at Rs 3 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 16 billion as against Rs 11 billion during FY23, thereby witnessing a growth of 45%.

CYIENT DLM Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,979	9,042	356.9
Current Liabilities	Rs m	7,449	5,394	-27.6
Long-term Debt	Rs m	996	747	-25.0
Total Liabilities	Rs m	10,993	15,974	45.3
Current assets	Rs m	8,397	13,259	57.9
Fixed Assets	Rs m	2,597	2,715	4.6
Total Assets	Rs m	10,993	15,974	45.3

CYIENT DLM Cash Flow Statement Analysis

• CYIENT DLM's cash flow from operating activities (CFO) during FY24 stood at Rs -705 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -4 billion, an improvement of 201.6% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 5 billion, an improvement of 564% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -195 million from the Rs -157 million net cash flows seen during FY23.

CYIENT DLM 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	540	-705	-
Cash Flow from Investing Activities	Rs m	-1,418	-4,277	-
Cash Flow from Financing Activities	Rs m	722	4,790	563.6%
Net Cash Flow	Rs m	-157	-195	-

Current Valuations for CYIENT DLM

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 7.7, an improvement from the EPS of Rs 6.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 683.8, stands at 88.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 6.0 times, while the price to sales ratio stands at 4.5 times.
• The company's price to cash flow (P/CF) ratio stood at 61.0 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	157.4	150.3
TTM Earnings per share	Rs	6.0	7.7
Diluted earnings per share	Rs	4.0	7.7
Price to Cash Flow	x	0.0	61.0
TTM P/E ratio	x	0.0	88.6
Price / Book Value ratio	x	0.0	5.6
Market Cap	Rs m	0	50,911
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for CYIENT DLM

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.5x during FY24, from 1.1x 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 3.4x during FY24, from 2.4x 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 declined and down at 6.8% during FY24, from 16.0% 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 11.9% during FY24, from 25.1% 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 6.0% during FY24, from 5.8% 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	1.1	2.5
Debtors’ Days	Days	71	69
Interest coverage	x	2.4	3.4
Debt to equity ratio	x	0.5	0.1
Return on assets	%	5.8	6.0
Return on equity	%	16.0	6.8
Return on capital employed	%	25.1	11.9

To see how CYIENT DLM has performed over the last 5 years, please visit here.

CYIENT DLM Share Price Performance

Over the last one year, CYIENT DLM share price has moved up from Rs 0.0 to Rs 683.8, registering a gain of Rs 683.8 or around 0.0%.

Overall, the S&P BSE SENSEX is up 22.2% over the year.

(To know more, check out historical annual results for CYIENT DLM and quarterly results for CYIENT DLM)