URJA GLOBAL 2023-24 Annual Report Analysis

Wed, 7 Aug

URJA GLOBAL 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.

URJA GLOBAL Income Statement Analysis

• Operating income during the year rose 9.5% on a year-on-year (YoY) basis.
• The company's operating profit increased by 4.2% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 3.3% in FY24 as against 3.4% in FY23.
• Depreciation charges decreased by 89.4% and finance costs decreased by 98.0% YoY, respectively.
• Other income declined by 34.0% YoY.
• Net profit for the year grew by 16.7% YoY.
• Net profit margins during the year grew from 3.9% in FY23 to 4.1% in FY24.

URJA GLOBAL Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	396	433	9.5%
Other income	Rs m	18	12	-34.0%
Total Revenues	Rs m	414	445	7.5%
Gross profit	Rs m	14	14	4.2%
Depreciation	Rs m	3	0	-89.4%
Interest	Rs m	9	0	-98.0%
Profit before tax	Rs m	20	26	30.4%
Tax	Rs m	5	8	76.7%
Profit after tax	Rs m	15	18	16.7%
Gross profit margin	%	3.4	3.3
Effective tax rate	%	22.9	31.1
Net profit margin	%	3.9	4.1

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

URJA GLOBAL Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 426 million as compared to Rs 349 million in FY23, thereby witnessing an increase of 22.2%.
• Current assets fell 14% and stood at Rs 473 million, while fixed assets fell 19% and stood at Rs 2 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 2 billion as against Rs 3 billion during FY23, thereby witnessing a fall of 18%.

URJA GLOBAL Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,719	1,450	-15.7
Current Liabilities	Rs m	349	426	22.2
Long-term Debt	Rs m	35	0	-100.0
Total Liabilities	Rs m	2,853	2,332	-18.2
Current assets	Rs m	547	473	-13.5
Fixed Assets	Rs m	2,302	1,857	-19.3
Total Assets	Rs m	2,853	2,332	-18.2

URJA GLOBAL Cash Flow Statement Analysis

• URJA GLOBAL's cash flow from operating activities (CFO) during FY24 stood at Rs -1 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 10 million, an improvement of 53.5% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -2 million, an improvement of 84% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 7 million from the Rs 5 million net cash flows seen during FY23.

URJA GLOBAL 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	9	-1	-
Cash Flow from Investing Activities	Rs m	7	10	53.5%
Cash Flow from Financing Activities	Rs m	-11	-2	-
Net Cash Flow	Rs m	5	7	48.5%

Current Valuations for URJA GLOBAL

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.0, an improvement from the EPS of Rs 0.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 20.7, stands at 437.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 7.9 times, while the price to sales ratio stands at 26.6 times.
• The company's price to cash flow (P/CF) ratio stood at 750.0 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	0.7	0.8
TTM Earnings per share	Rs	0.0	0.0
Diluted earnings per share	Rs	0.0	0.0
Price to Cash Flow	x	208.9	750.0
TTM P/E ratio	x	193.5	437.1
Price / Book Value ratio	x	4.3	9.4
Market Cap	Rs m	7,341	13,593
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for URJA GLOBAL

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.1x during FY24, from 1.6x 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 144.4x during FY24, from 3.2x 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 improved and stood at 1.2% during FY24, from 0.9% 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 1.8% during FY24, from 1.6% 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 0.8% during FY24, from 0.9% 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	1.6	1.1
Debtors’ Days	Days	949	1,099
Interest coverage	x	3.2	144.4
Debt to equity ratio	x	0.0	0.0
Return on assets	%	0.9	0.8
Return on equity	%	0.9	1.2
Return on capital employed	%	1.6	1.8

To see how URJA GLOBAL has performed over the last 5 years, please visit here.

URJA GLOBAL Share Price Performance

Over the last one year, URJA GLOBAL share price has moved up from Rs 10.5 to Rs 20.7, registering a gain of Rs 10.2 or around 97.9%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 8,223.8 (up 1.7%). Over the last one year it has moved up from 4,239.8 to 8,223.8, a gain of 3,984 points (up 94.0%).

Overall, the S&P BSE SENSEX is up 20.5% over the year.

(To know more, check out historical annual results for URJA GLOBAL and quarterly results for URJA GLOBAL)