DHAMPURE SPL. 2022-23 Annual Report Analysis

Mon, 6 Nov

DHAMPURE SPL. 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.

DHAMPURE SPL. Income Statement Analysis

• Operating income during the year fell 9.2% 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 0.8% in FY23 as against 2.1% in FY22.
• Depreciation charges decreased by 1.7% and finance costs increased by 166.7% YoY, respectively.
• Other income grew by 811.5% YoY.
• Net profit for the year grew by 386.6% YoY.
• Net profit margins during the year grew from 1.8% in FY22 to 9.6% in FY23.

DHAMPURE SPL. Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	238	216	-9.2%
Other income	Rs m	4	32	811.5%
Total Revenues	Rs m	241	248	2.9%
Gross profit	Rs m	5	-2	NA
Depreciation	Rs m	4	4	-1.7%
Interest	Rs m	0	0	166.7%
Profit before tax	Rs m	5	27	456.7%
Tax	Rs m	1	6	927.4%
Profit after tax	Rs m	4	21	386.6%
Gross profit margin	%	2.1	-0.8
Effective tax rate	%	12.8	23.6
Net profit margin	%	1.8	9.6

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DHAMPURE SPL. Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 40 million as compared to Rs 31 million in FY22, thereby witnessing an increase of 28.3%.
• Current assets rose 116% and stood at Rs 196 million, while fixed assets fell 50% and stood at Rs 116 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 312 million as against Rs 323 million during FY22, thereby witnessing a fall of 3%.

DHAMPURE SPL. Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	237	257	8.7
Current Liabilities	Rs m	31	40	28.3
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	323	312	-3.3
Current assets	Rs m	91	196	116.1
Fixed Assets	Rs m	232	116	-49.9
Total Assets	Rs m	323	312	-3.3

DHAMPURE SPL. Cash Flow Statement Analysis

• DHAMPURE SPL.'s cash flow from operating activities (CFO) during FY23 stood at Rs -81 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 81 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 0 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 0 million from the Rs 1 million net cash flows seen during FY22.

DHAMPURE SPL. 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	7	-81	-
Cash Flow from Investing Activities	Rs m	-7	81	-
Cash Flow from Financing Activities	Rs m	1	0	-
Net Cash Flow	Rs m	1	0	-

Current Valuations for DHAMPURE SPL.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 2.6, 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 55.5, stands at 22.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.7 times, while the price to sales ratio stands at 2.0 times.
• The company's price to cash flow (P/CF) ratio stood at 13.1 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	30.0	27.2
TTM Earnings per share	Rs	0.5	2.6
Diluted earnings per share	Rs	0.5	2.6
Price to Cash Flow	x	40.1	13.1
TTM P/E ratio	x	74.6	22.1
Price / Book Value ratio	x	1.2	1.2
Market Cap	Rs m	293	317
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for DHAMPURE SPL.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 4.9x during FY23, from 2.9x 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 338.5x during FY23, from 163.0x 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 8.0% during FY23, from 1.8% 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 10.5% during FY23, from 2.1% 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 1.3% 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	2.9	4.9
Debtors’ Days	Days	267	302
Interest coverage	x	163.0	338.5
Debt to equity ratio	x	0.0	0.0
Return on assets	%	1.3	6.6
Return on equity	%	1.8	8.0
Return on capital employed	%	2.1	10.5

To see how DHAMPURE SPL. has performed over the last 5 years, please visit here.

DHAMPURE SPL. Share Price Performance

Over the last one year, DHAMPURE SPL. share price has moved up from Rs 39.4 to Rs 55.5, registering a gain of Rs 16.2 or around 41.0%.

Overall, the S&P BSE SENSEX is up 6.7% over the year.

(To know more, check out historical annual results for DHAMPURE SPL. and quarterly results for DHAMPURE SPL.)