CAMLIN FINE CHEM. 2023-24 Annual Report Analysis

Wed, 10 Jul

CAMLIN FINE CHEM. 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.

CAMLIN FINE CHEM. Income Statement Analysis

• Operating income during the year fell 4.1% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 97.5% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 0.3% in FY24 as against 12.1% in FY23.
• Depreciation charges increased by 25.7% and finance costs increased by 5.6% YoY, respectively.
• Other income grew by 586.4% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year declined from 2.4% in FY23 to 6.5% in FY24.

CAMLIN FINE CHEM. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	16,816	16,131	-4.1%
Other income	Rs m	64	442	586.4%
Total Revenues	Rs m	16,880	16,573	-1.8%
Gross profit	Rs m	2,027	51	-97.5%
Depreciation	Rs m	625	786	25.7%
Interest	Rs m	662	700	5.6%
Profit before tax	Rs m	804	-992	NA
Tax	Rs m	406	56	-86.1%
Profit after tax	Rs m	398	-1,049	NA
Gross profit margin	%	12.1	0.3
Effective tax rate	%	50.5	-5.7
Net profit margin	%	2.4	-6.5

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

CAMLIN FINE CHEM. Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 7 billion as compared to Rs 8 billion in FY23, thereby witnessing an decrease of -7.7%.
• Long-term debt down at Rs 3 billion as compared to Rs 4 billion during FY23, a fall of 18.5%.
• Current assets fell 8% and stood at Rs 10 billion, while fixed assets fell 3% and stood at Rs 9 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 19 billion as against Rs 20 billion during FY23, thereby witnessing a fall of 6%.

CAMLIN FINE CHEM. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	8,051	8,508	5.7
Current Liabilities	Rs m	7,930	7,323	-7.7
Long-term Debt	Rs m	4,081	3,327	-18.5
Total Liabilities	Rs m	20,301	19,112	-5.9
Current assets	Rs m	10,857	9,986	-8.0
Fixed Assets	Rs m	9,423	9,106	-3.4
Total Assets	Rs m	20,301	19,112	-5.9

CAMLIN FINE CHEM. Cash Flow Statement Analysis

• CAMLIN FINE CHEM.'s cash flow from operating activities (CFO) during FY24 stood at Rs 1 billion, an improvement of 173.1% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -665 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -860 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -135 million from the Rs -141 million net cash flows seen during FY23.

CAMLIN FINE CHEM. 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	509	1,390	173.1%
Cash Flow from Investing Activities	Rs m	-1,246	-665	-
Cash Flow from Financing Activities	Rs m	597	-860	-
Net Cash Flow	Rs m	-141	-135	-

Current Valuations for CAMLIN FINE CHEM.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -6.3, an decline from the EPS of Rs 2.5 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 102.8, stands at -16.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.0 times, while the price to sales ratio stands at 1.1 times.
• The company's price to cash flow (P/CF) ratio stood at -87.6 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	107.0	96.3
TTM Earnings per share	Rs	2.5	-6.3
Diluted earnings per share	Rs	2.4	-6.3
Price to Cash Flow	x	20.8	-87.6
TTM P/E ratio	x	53.6	-16.4
Price / Book Value ratio	x	2.7	2.7
Market Cap	Rs m	21,349	23,001
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for CAMLIN FINE CHEM.

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated 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 deteriorated and stood at -0.4x during FY24, from 2.2x 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 -12.3% during FY24, from 4.9% 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 declined and down at -2.5% during FY24, from 12.1% 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 declined and down at -1.8% during FY24, from 5.2% 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	661	645
Interest coverage	x	2.2	-0.4
Debt to equity ratio	x	0.5	0.4
Return on assets	%	5.2	-1.8
Return on equity	%	4.9	-12.3
Return on capital employed	%	12.1	-2.5

To see how CAMLIN FINE CHEM. has performed over the last 5 years, please visit here.

CAMLIN FINE CHEM. Share Price Performance

Over the last one year, CAMLIN FINE CHEM. share price has moved down from Rs 159.0 to Rs 102.8, registering a loss of Rs 56.2 or around 35.4%.

Overall, the S&P BSE SENSEX is up 22.3% over the year.

(To know more, check out historical annual results for CAMLIN FINE CHEM. and quarterly results for CAMLIN FINE CHEM.)