DECCAN BEARINGS 2022-23 Annual Report Analysis

Tue, 20 Jun

DECCAN BEARINGS 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.

DECCAN BEARINGS Income Statement Analysis

• Operating income during the year fell 77.3% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and stood at 9400.0% in FY23 as against 2104.5% in FY22.
• Depreciation charges increased by 0.0% increased by 0.0% YoY, respectively.
• Other income declined by 6.7% YoY.
• Net profit for the year grew by NA YoY.
• Net profit margins during the year declined from 1874.1% in FY22 to 8462.8% in FY23.

DECCAN BEARINGS Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	0	0	-77.3%
Other income	Rs m	1	1	-6.7%
Total Revenues	Rs m	1	1	-24.4%
Gross profit	Rs m	-5	-5	NA
Depreciation	Rs m	0	0	0.0%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	-4	-4	NA
Tax	Rs m	0	0	0.0
Profit after tax	Rs m	-4	-4	NA
Gross profit margin	%	-2,104.5	-9,400.0
Effective tax rate	%	0.0	0.0
Net profit margin	%	-1,874.1	-8,462.8

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DECCAN BEARINGS Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 0 million as compared to Rs 0 million in FY22, thereby witnessing an increase of 34.6%.
• Current assets fell 12% and stood at Rs 1 million, while fixed assets fell 52% and stood at Rs 4 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 5 million as against Rs 9 million during FY22, thereby witnessing a fall of 48%.

DECCAN BEARINGS Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	9	4	-52.6
Current Liabilities	Rs m	0	0	34.6
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	9	5	-47.6
Current assets	Rs m	1	1	-12.0
Fixed Assets	Rs m	8	4	-51.6
Total Assets	Rs m	9	5	-47.6

DECCAN BEARINGS Cash Flow Statement Analysis

• DECCAN BEARINGS's cash flow from operating activities (CFO) during FY23 stood at Rs -1 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 1 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 0 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 0 million from the Rs 0 million net cash flows seen during FY22.

DECCAN BEARINGS 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	-3	-1	-
Cash Flow from Investing Activities	Rs m	2	1	-42.3%
Cash Flow from Financing Activities	Rs m	0	0	0.0%
Net Cash Flow	Rs m	0	0	-

Current Valuations for DECCAN BEARINGS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -1.9, an decline from the EPS of Rs -1.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 47.0, stands at -24.3 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 24.8 times, while the price to sales ratio stands at 2,049.2 times.
• The company's price to cash flow (P/CF) ratio stood at -19.8 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	0.1	0.0
TTM Earnings per share	Rs	-1.9	-1.9
Diluted earnings per share	Rs	-1.9	-1.9
Price to Cash Flow	x	-11.6	-19.8
TTM P/E ratio	x	-11.4	-24.3
Price / Book Value ratio	x	3.3	19.8
Market Cap	Rs m	29	82
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for DECCAN BEARINGS

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 2.3x during FY23, from 3.5x during FY22. The current ratio measures the company's ability to pay short-term and long-term obligations.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company declined and down at -102.2% during FY23, from -47.2% 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 declined and down at -102.2% during FY23, from -47.2% 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 declined and down at -89.0% during FY23, from -45.5% 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	3.5	2.3
Debtors’ Days	Days	0	0
Interest coverage	x	0.0	0.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	-45.5	-89.0
Return on equity	%	-47.2	-102.2
Return on capital employed	%	-47.2	-102.2

To see how DECCAN BEARINGS has performed over the last 5 years, please visit here.

DECCAN BEARINGS Share Price Performance

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(To know more, check out historical annual results for DECCAN BEARINGS and quarterly results for DECCAN BEARINGS)