DILIP BUILDCON 2023-24 Annual Report Analysis

Mon, 2 Sep

DILIP BUILDCON 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.

DILIP BUILDCON Income Statement Analysis

• Operating income during the year rose 12.9% on a year-on-year (YoY) basis.
• The company's operating profit increased by 44.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.9% in FY24 as against 10.8% in FY23.
• Depreciation charges decreased by 5.0% and finance costs increased by 12.4% YoY, respectively.
• Other income declined by 13.9% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 0.0% in FY23 to 1.7% in FY24.

DILIP BUILDCON Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	106,436	120,119	12.9%
Other income	Rs m	2,544	2,189	-13.9%
Total Revenues	Rs m	108,980	122,308	12.2%
Gross profit	Rs m	11,489	16,644	44.9%
Depreciation	Rs m	3,985	3,788	-5.0%
Interest	Rs m	9,014	10,128	12.4%
Profit before tax	Rs m	1,034	4,918	375.5%
Tax	Rs m	1,048	2,907	177.4%
Profit after tax	Rs m	-14	2,010	NA
Gross profit margin	%	10.8	13.9
Effective tax rate	%	101.3	59.1
Net profit margin	%	0.0	1.7

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DILIP BUILDCON Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 68 billion as compared to Rs 69 billion in FY23, thereby witnessing an decrease of -2.0%.
• Long-term debt stood at Rs 51 billion as compared to Rs 40 billion during FY23, a growth of 27.5%.
• Current assets rose 6% and stood at Rs 90 billion, while fixed assets rose 13% and stood at Rs 77 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 166 billion as against Rs 154 billion during FY23, thereby witnessing a growth of 8%.

DILIP BUILDCON Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	40,016	42,365	5.9
Current Liabilities	Rs m	69,294	67,930	-2.0
Long-term Debt	Rs m	39,613	50,519	27.5
Total Liabilities	Rs m	153,653	166,420	8.3
Current assets	Rs m	84,266	89,705	6.5
Fixed Assets	Rs m	67,823	76,534	12.8
Total Assets	Rs m	153,653	166,420	8.3

DILIP BUILDCON Cash Flow Statement Analysis

• DILIP BUILDCON's cash flow from operating activities (CFO) during FY24 stood at Rs 11 billion 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 -4 billion, an improvement of 86% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 5 billion from the Rs -2 billion net cash flows seen during FY23.

DILIP BUILDCON 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	28,452	10,704	-62.4%
Cash Flow from Investing Activities	Rs m	258	-1,007	-
Cash Flow from Financing Activities	Rs m	-30,277	-4,312	-
Net Cash Flow	Rs m	-1,568	5,385	-

Current Valuations for DILIP BUILDCON

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 13.7, an improvement from the EPS of Rs -0.1 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 552.3, stands at 24.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.9 times, while the price to sales ratio stands at 0.7 times.
• The company's price to cash flow (P/CF) ratio stood at 8.4 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	727.9	821.5
TTM Earnings per share	Rs	-0.1	13.7
Diluted earnings per share	Rs	-0.1	13.7
Price to Cash Flow	x	6.2	8.4
TTM P/E ratio	x	-1,773.4	24.6
Price / Book Value ratio	x	0.9	1.1
Market Cap	Rs m	35,296	48,554
Dividends per share (Unadj.)	Rs	0.1	1.0

Ratio Analysis for DILIP BUILDCON

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.3x during FY24, from 1.2x 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 1.5x during FY24, from 1.1x 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 4.7% during FY24, from 0.0% 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 improved and stood at 16.2% during FY24, from 12.6% 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 improved and stood at 7.3% during FY24, from 5.9% 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	1.2	1.3
Debtors’ Days	Days	476	389
Interest coverage	x	1.1	1.5
Debt to equity ratio	x	1.0	1.2
Return on assets	%	5.9	7.3
Return on equity	%	0.0	4.7
Return on capital employed	%	12.6	16.2

To see how DILIP BUILDCON has performed over the last 5 years, please visit here.

DILIP BUILDCON Share Price Performance

Over the last one year, DILIP BUILDCON share price has moved up from Rs 321.6 to Rs 552.3, registering a gain of Rs 230.7 or around 71.7%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 8,227.4 (down 0.1%). Over the last one year it has moved up from 4,511.3 to 8,227.4, a gain of 3,716 points (up 82.4%).

Overall, the S&P BSE SENSEX is up 27.0% over the year.

(To know more, check out historical annual results for DILIP BUILDCON and quarterly results for DILIP BUILDCON)