DRONEACHARYA AERIAL 2022-23 Annual Report Analysis

Thu, 25 May

DRONEACHARYA AERIAL 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.

DRONEACHARYA AERIAL Income Statement Analysis

• Operating income during the year rose 417.7% on a year-on-year (YoY) basis.
• The company's operating profit increased by 772.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 27.0% in FY23 as against 16.0% in FY22.
• Depreciation charges increased by 4944.4% and finance costs increased by 1550.0% YoY, respectively.
• Other income grew by 0.0% YoY.
• Net profit for the year grew by 743.5% YoY.
• Net profit margins during the year grew from 11.3% in FY22 to 18.5% in FY23.

DRONEACHARYA AERIAL Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	36	186	417.7%
Other income	Rs m	0	6	0.0%
Total Revenues	Rs m	36	191	433.5%
Gross profit	Rs m	6	50	772.9%
Depreciation	Rs m	0	9	4,944.4%
Interest	Rs m	0	0	1,550.0%
Profit before tax	Rs m	6	46	735.3%
Tax	Rs m	1	12	712.8%
Profit after tax	Rs m	4	34	743.5%
Gross profit margin	%	16.0	27.0
Effective tax rate	%	26.8	26.1
Net profit margin	%	11.3	18.5

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DRONEACHARYA AERIAL Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 32 million as compared to Rs 5 million in FY22, thereby witnessing an increase of 546.4%.
• Current assets rose 74% and stood at Rs 259 million, while fixed assets rose 8,301% and stood at Rs 438 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 697 million as against Rs 155 million during FY22, thereby witnessing a growth of 351%.

DRONEACHARYA AERIAL Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	145	663	357.7
Current Liabilities	Rs m	5	32	546.4
Long-term Debt	Rs m	5	0	-100.0
Total Liabilities	Rs m	155	697	350.8
Current assets	Rs m	149	259	73.6
Fixed Assets	Rs m	5	438	8,301.2
Total Assets	Rs m	155	697	350.8

DRONEACHARYA AERIAL Cash Flow Statement Analysis

• DRONEACHARYA AERIAL's cash flow from operating activities (CFO) during FY23 stood at Rs -251 million, an improvement of 1,152.1% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -326 million, an improvement of 7,328.7% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 479 million, an improvement of 255% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -98 million from the Rs 110 million net cash flows seen during FY22.

DRONEACHARYA AERIAL 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	-20	-251	-
Cash Flow from Investing Activities	Rs m	-4	-326	-
Cash Flow from Financing Activities	Rs m	135	479	255.3%
Net Cash Flow	Rs m	110	-98	-

Current Valuations for DRONEACHARYA AERIAL

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.4, an decline from the EPS of Rs 33.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 132.9, stands at 92.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 4.8 times, while the price to sales ratio stands at 17.2 times.
• The company's price to cash flow (P/CF) ratio stood at 94.0 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	298.9	7.7
TTM Earnings per share	Rs	33.9	1.4
Diluted earnings per share	Rs	0.2	1.4
Price to Cash Flow	x	0.0	94.0
TTM P/E ratio	x	0.0	92.9
Price / Book Value ratio	x	0.0	6.2
Market Cap	Rs m	0	4,081
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for DRONEACHARYA AERIAL

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 8.1x during FY23, from 30.3x 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 deteriorated and stood at 141.7x during FY23, from 278.5x 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 5.2% during FY23, from 2.8% 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 7.1% during FY23, from 3.7% 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 5.0% during FY23, from 2.6% 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	30.3	8.1
Debtors’ Days	Days	1,268	2,216
Interest coverage	x	278.5	141.7
Debt to equity ratio	x	0.0	0.0
Return on assets	%	2.6	5.0
Return on equity	%	2.8	5.2
Return on capital employed	%	3.7	7.1

To see how DRONEACHARYA AERIAL has performed over the last 5 years, please visit here.

DRONEACHARYA AERIAL Share Price Performance

Over the last one year, DRONEACHARYA AERIAL share price has moved up from Rs 0.0 to Rs 132.9, registering a gain of Rs 132.9 or around 0.0%.

Overall, the S&P BSE SENSEX is up 13.4% over the year.

(To know more, check out historical annual results for DRONEACHARYA AERIAL and quarterly results for DRONEACHARYA AERIAL)