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MONEYBOXX FINANCE 2023-24 Annual Report Analysis

Wed, 18 Sep

MONEYBOXX FINANCE has announced its results for the year ended March 2024. Let us have a look at the detailed performance review of the company during the year 2023-24.

MONEYBOXX FINANCE Income Statement Analysis

• Interest income during the year rose 153.3% on a year-on-year (YoY) basis.
• Interest expenses were up by 96.6% YoY during the same period.
• Operating expenses increased by 93.2% YoY during the year.
• The company's net interest income (NII) increased by 196.6% YoY during the fiscal. Consequently, net interest margins (NIM) witnessed a decline and stood at 514.2% in FY24 as against 616.5% in FY23.
• Other income increased by 800.0% YoY during the year.
• Net profit for the year increased by 234.3% YoY.
• Net profit margins during the year increased to 7.2% in FY24 from -13.5% in FY23.

MONEYBOXX FINANCE Income Statement – 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Interest Income	Rs m	504	1,277	153.3%
Other Income	Rs m	0	3	800.0%
Interest Expense	Rs m	218	429	96.6%
Net Interest Income	Rs m	286	848	196.6%
Operating Expense	Rs m	368	711	93.2%
Pre-provision Operating Profit	Rs m	-82	139	269.3%
Provisions & Contingencies	Rs m	47	97	108.6%
Profit before tax	Rs m	-99	106	206.2%
Tax	Rs m	-31	14	145.2%
Profit after tax	Rs m	-68	91	234.3%
Minority Interest	Rs m	0	0	0.0%
Net Interest Margin	%	616.5	514.2
Net profit margin	%	-13.5	7.2

For Investors: Our Big Prediction

MONEYBOXX FINANCE Balance Sheet Analysis

• The company's deposits during FY24 stood at Rs 0 m as compared to Rs 0 m in FY23, thereby witnessing an increase of 0.0%.
• Advances for the year stood at Rs 0 m as compared to Rs 0 m during FY23, a rise of 0.0%.
• Cost of deposits for MONEYBOXX FINANCE rose 0.0% and stood at 0.0%, while yield on advances rose to 0.0%.
• The lender's investments rose to Rs 165 m during the year from Rs 46 m in FY23.
• Borrowing stood at Rs 0 m, a growth of 0.0% as compared to previous year.
• Overall, the total assets and liabilities for FY24 stood at Rs 6.6 bn as against Rs 3.2 bn during FY23, thereby witnessing a rise of 104.8%.

MONEYBOXX FINANCE Balance Sheet – as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	753	1,669	121.8%
Advances	Rs m	0	0	0.0%
Deposits	Rs m	0	0	0.0%
Yield on advances	%	0.0	0.0
Cost of Deposits	%	0.0	0.0
Investments	Rs m	46	165	255.6%
Borrowings	Rs m	0	0	0.0%
Total Assets	Rs m	3,241	6,638	104.8%

Current Valuations for MONEYBOXX FINANCE

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.0, an improvement from the EPS of Rs -2.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 273.9, stands at 75.0 times its trailing twelve months earnings.
• The price to adjusted book value (P/ABV) ratio at current price levels stands at 5.4 times, while the price to income ratio stands at 5.4 times.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Income per share (Unadj.)	Rs	20.2	41.9
Earnings per share (Unadj.)	Rs	-2.7	3.0
Diluted earnings per share	Rs	-2.1	2.8
Avg P/E ratio	Rs	-60.8	75.0
Avg P/ABV ratio	Rs	6.9	5.4
Avg Market Cap	Rs	4,136	6,854
Dividends per share (Unadj.)	Rs	0.00	0.00

Ratio Analysis for MONEYBOXX FINANCE

• Efficiency Ratios

  Credit/Deposit Ratio: The company's credit/deposit ratio improved and stood at 0.0x during FY24, from 0.0x during FY23. The credit/deposit ratio tells us how much money a company has raised in the form of deposits and has deployed as loans.

  Debt to Equity Ratio: The company's debt to equity ratio increased and stood at 0.00x during FY24, from 0.00x during FY23. The debt to equity ratio of a company tells us how much debt a company uses relative to its equity.

• Liquidity Ratios

  Capital Adequacy Ratio (CAR): MONEYBOXX FINANCE's capital adequacy ratio (CAR) was at 28.3% as on 31 March 2024 as compared to 31.0% a year ago. This ratio helps measure the financial strength of the company or any finance company to meet their obligations using their assets and capital.

  A company that has a good CAR has enough capital to absorb potential losses. Thus, it has less risk of becoming insolvent and losing depositor's money.

  Provision Coverage Ratio (PCR): Apart from CAR, you also need to take a look at the company's PCR and LCR ratios. Provisioning coverage ratio (PCR) is the percentage of funds that a company sets aside for covering losses due to bad debts.

  So a high PCR ratio means asset quality issues are under control and the company is not vulnerable.

  Liquidity Coverage Ratio (LCR): The LCR is designed to ensure that companies hold a sufficient reserve of high-quality liquid assets to allow them to survive a period of significant liquidity stress lasting 30 calendar days.

• Profitability Ratios

  Return on Equity (ROE): The return on equity (ROE) ratio for the company improved and stood at 5.5% during FY24, from -9.0% during FY23. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

  Return on Assets (ROA): The return on asset (ROA) ratio of the company improved and stood at 1.38% during FY24, from -2.10% during FY23. The ROA measures how efficiently the company uses its assets to generate earnings.

  Return on Capital Employed (ROCE): The ROCE for the company improved and stood at 11.70% during FY24, from 5.48% during FY23. The ROCE measures the ability of a company to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

• NPA Ratios

  Gross NPA Ratio: The gross NPA ratio is the ratio of a company's gross NPAs to gross advances. MONEYBOXX FINANCE's gross NPA ratio stood at 1.5% as of 31 March 2024 compared to 0.8% in the same period a year ago.

  A high gross NPA ratio is a bad thing as it indicates how much of a company's loans are in danger of not being repaid.

  Net NPA Ratio: In simple language, net NPAs are simply the total non-performing assets minus the provision left aside. It gives you the exact value of NPAs after the company has made provisions.

  The net NPA ratio of MONEYBOXX FINANCE was 1.0% in financial year 2024. This compared with 0.4% a year ago.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Credit/Deposit Ratio	x	0.0	0.0
Debt to Equity Ratio	x	0.0	0.0
Loans / Deposits	x	0.0	0.0
Capital Adequacy Ratio	%	31.0	28.3
Return on Equity	%	-9.0	5.5
Return on Assets	%	-2.1	1.4
Return on Capital Employed	%	5.5	11.7
% of Gross NPAs	%	0.8	1.5
% of Net NPAs	%	0.4	1.0
Yield on Advances	x	0.0	0.0
Yield on Investments	x	0.0	0.0

To see how MONEYBOXX FINANCE has performed over the last 5 years, please visit here.

MONEYBOXX FINANCE Share Price Performance

Over the last one year, MONEYBOXX FINANCE share price has moved up from Rs 160.2 to Rs 273.9, registering a gain of Rs 113.8 or around 71.0%.

Overall, the S&P BSE SENSEX is up 23.0% over the year.

(To know more, you can check out historical annual results for MONEYBOXX FINANCE here and quarterly results for MONEYBOXX FINANCE here)