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CAPTAIN POLYPLAST 2022-23 Annual Report Analysis
Wed, 18 Oct

CAPTAIN POLYPLAST 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.

CAPTAIN POLYPLAST Income Statement Analysis

  • Operating income during the year rose 21.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 8.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 7.5% in FY23 as against 8.3% in FY22.
  • Depreciation charges decreased by 25.8% and finance costs decreased by 5.9% YoY, respectively.
  • Other income grew by 47.5% YoY.
  • Net profit for the year grew by 104.7% YoY.
  • Net profit margins during the year grew from 1.5% in FY22 to 2.5% in FY23.

CAPTAIN POLYPLAST Income Statement 2022-23

No. of Mths Year Ending 12 Mar-22* 12 Mar-23* % Change
Net Sales Rs m 1,852 2,246 21.3%
Other income Rs m 20 29 47.5%
Total Revenues Rs m 1,872 2,275 21.6%
Gross profit Rs m 155 168 8.9%
Depreciation Rs m 37 27 -25.8%
Interest Rs m 100 94 -5.9%
Profit before tax Rs m 38 77 101.0%
Tax Rs m 11 20 91.3%
Profit after tax Rs m 28 56 104.7%
Gross profit margin % 8.3 7.5
Effective tax rate % 27.7 26.4
Net profit margin % 1.5 2.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Dear Reader: If You Invest in Midcap Stocks, this is for You

CAPTAIN POLYPLAST Balance Sheet Analysis

  • The company's current liabilities during FY23 stood at Rs 1 billion as compared to Rs 1 billion in FY22, thereby witnessing an increase of 13.2%.
  • Long-term debt down at Rs 216 million as compared to Rs 254 million during FY22, a fall of 15.0%.
  • Current assets rose 10% and stood at Rs 2 billion, while fixed assets fell 2% and stood at Rs 234 million in FY23.
  • Overall, the total assets and liabilities for FY23 stood at Rs 2 billion as against Rs 2 billion during FY22, thereby witnessing a growth of 8%.

CAPTAIN POLYPLAST Balance Sheet as on March 2023

No. of Mths Year Ending 12 Mar-22* 12 Mar-23* % Change
Networth Rs m 662 724 9.3
 
Current Liabilities Rs m 1,184 1,341 13.2
Long-term Debt Rs m 254 216 -15.0
Total Liabilities Rs m 2,110 2,288 8.4
 
Current assets Rs m 1,872 2,054 9.7
Fixed Assets Rs m 238 234 -1.7
Total Assets Rs m 2,110 2,288 8.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



CAPTAIN POLYPLAST Cash Flow Statement Analysis

  • CAPTAIN POLYPLAST's cash flow from operating activities (CFO) during FY23 stood at Rs 112 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY23 stood at Rs 16 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY23 stood at Rs -128 million, an improvement of 8% on a YoY basis.
  • Overall, net cash flows for the company during FY23 stood at Rs 0 million from the Rs 21 million net cash flows seen during FY22.

CAPTAIN POLYPLAST 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 116 112 -3.4%
Cash Flow from Investing Activities Rs m 44 16 -64.5%
Cash Flow from Financing Activities Rs m -138 -128 -
Net Cash Flow Rs m 21 0 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for CAPTAIN POLYPLAST

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.1, an improvement from the EPS of Rs 0.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 26.2, stands at 14.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.8 times, while the price to sales ratio stands at 0.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 11.2 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 36.8 44.6
TTM Earnings per share Rs 0.5 1.1
Diluted earnings per share Rs 0.5 1.1
Price to Cash Flow x 14.2 11.2
TTM P/E ratio x 33.0 14.4
Price / Book Value ratio x 2.8 1.3
Market Cap Rs m 1,834 933
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for CAPTAIN POLYPLAST

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.5x during FY23, from 1.6x 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 1.8x during FY23, from 1.4x 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 improved and stood at 7.8% during FY23, from 4.2% 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 18.1% during FY23, from 15.0% 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 6.6% during FY23, from 6.0% 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 1.6 1.5
Debtors’ Days Days 2,137 1,918
Interest coverage x 1.4 1.8
Debt to equity ratio x 0.4 0.3
Return on assets % 6.0 6.6
Return on equity % 4.2 7.8
Return on capital employed % 15.0 18.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how CAPTAIN POLYPLAST has performed over the last 5 years, please visit here.

CAPTAIN POLYPLAST Share Price Performance

Over the last one year, CAPTAIN POLYPLAST share price has moved up from Rs 16.6 to Rs 26.2, registering a gain of Rs 9.7 or around 58.3%.

Overall, the S&P BSE SENSEX is up 13.0% over the year.

(To know more, check out historical annual results for CAPTAIN POLYPLAST and quarterly results for CAPTAIN POLYPLAST)

Annual Report FAQs

What is the current share price of CAPTAIN POLYPLAST?

CAPTAIN POLYPLAST currently trades at Rs 64.7 per share. You can check out the latest share price performance of CAPTAIN POLYPLAST here...

What was the revenue of CAPTAIN POLYPLAST in FY23? How does it compare to earlier years?

The revenues of CAPTAIN POLYPLAST stood at Rs 2,275 m in FY23, which was up 21.6% compared to Rs 1,872 m reported in FY22.

CAPTAIN POLYPLAST's revenue has grown from Rs 1,504 m in FY19 to Rs 2,275 m in FY23.

Over the past 5 years, the revenue of CAPTAIN POLYPLAST has grown at a CAGR of 10.9%.

What was the net profit of CAPTAIN POLYPLAST in FY23? How does it compare to earlier years?

The net profit of CAPTAIN POLYPLAST stood at Rs 56 m in FY23, which was up 104.7% compared to Rs 28 m reported in FY22.

This compares to a net profit of Rs 90 m in FY21 and a net profit of Rs 126 m in FY20.

Over the past 5 years, CAPTAIN POLYPLAST net profit has grown at a CAGR of -5.9%.

What does the cash flow statement of CAPTAIN POLYPLAST reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of CAPTAIN POLYPLAST reveals:

  • Cash flow from operations decreased in FY23 and stood at Rs 112 m as compared to Rs 116 m in FY22.
  • Cash flow from investments decreased in FY23 and stood at Rs 16 m as compared to Rs 44 m in FY22.
  • Cash flow from financial activity increased in FY23 and stood at Rs -128 m as compared to Rs -138 m in FY22.

Here's the cash flow statement of CAPTAIN POLYPLAST for the past 5 years.

(Rs m)FY19FY20FY21FY22FY23
From Operations-63-11116112
From Investments-8212-104416
From Financial Activity15041-138-128
Net Cashflow515-8210

What does the Key Ratio analysis of CAPTAIN POLYPLAST reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of CAPTAIN POLYPLAST reveals:

  • Operating profit margins witnessed a fall and stood at 7.5% in FY23 as against 8.3% in FY22.
  • Net profit margins grew from 1.5% in FY22 to 2.5% in FY23.
  • Debt to Equity ratio for FY23 stood at 0.3 as compared to 0.4 in FY22.

Here's the ratio/financial analysis of CAPTAIN POLYPLAST for the past 5 years.

 FY19FY20FY21FY22FY23
Operating Profit Margin (%)12.015.214.48.37.5
Net Profit Margin (%)4.86.85.11.52.5
Debt to Equity Ratio (x)0.20.20.30.40.3

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