EASY TRIP PLANNERS 2023-24 Annual Report Analysis

Wed, 11 Sep

EASY TRIP PLANNERS 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.

EASY TRIP PLANNERS Income Statement Analysis

• Operating income during the year rose 31.6% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 21.7% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 23.5% in FY24 as against 39.5% in FY23.
• Depreciation charges increased by 146.8% and finance costs increased by 28.2% YoY, respectively.
• Other income grew by 11.9% YoY.
• Net profit for the year declined by 22.8% YoY.
• Net profit margins during the year declined from 29.9% in FY23 to 17.5% in FY24.

EASY TRIP PLANNERS Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	4,488	5,906	31.6%
Other income	Rs m	165	185	11.9%
Total Revenues	Rs m	4,654	6,091	30.9%
Gross profit	Rs m	1,771	1,387	-21.7%
Depreciation	Rs m	29	72	146.8%
Interest	Rs m	58	74	28.2%
Profit before tax	Rs m	1,849	1,426	-22.9%
Tax	Rs m	508	392	-23.0%
Profit after tax	Rs m	1,341	1,035	-22.8%
Gross profit margin	%	39.5	23.5
Effective tax rate	%	27.5	27.5
Net profit margin	%	29.9	17.5

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EASY TRIP PLANNERS Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 2 billion as compared to Rs 3 billion in FY23, thereby witnessing an decrease of -23.3%.
• Long-term debt stood at Rs 37 million as compared to Rs 1 million during FY23, a growth of 3387.9%.
• Current assets fell 13% and stood at Rs 6 billion, while fixed assets rose 624% and stood at Rs 3 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 9 billion as against Rs 7 billion during FY23, thereby witnessing a growth of 28%.

EASY TRIP PLANNERS Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	3,700	6,045	63.4
Current Liabilities	Rs m	3,192	2,448	-23.3
Long-term Debt	Rs m	1	37	3,387.9
Total Liabilities	Rs m	6,924	8,854	27.9
Current assets	Rs m	6,475	5,603	-13.5
Fixed Assets	Rs m	449	3,251	623.8
Total Assets	Rs m	6,924	8,854	27.9

EASY TRIP PLANNERS Cash Flow Statement Analysis

• EASY TRIP PLANNERS's cash flow from operating activities (CFO) during FY24 stood at Rs 1 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -432 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 557 million, an improvement of 1,350% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 1 billion from the Rs -330 million net cash flows seen during FY23.

EASY TRIP PLANNERS 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	-1,194	1,241	-
Cash Flow from Investing Activities	Rs m	826	-432	-
Cash Flow from Financing Activities	Rs m	38	557	1,350.5%
Net Cash Flow	Rs m	-330	1,366	-

Current Valuations for EASY TRIP PLANNERS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.6, an decline from the EPS of Rs 0.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 42.2, stands at 67.0 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 12.4 times, while the price to sales ratio stands at 12.7 times.
• The company's price to cash flow (P/CF) ratio stood at 72.9 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	2.6	3.3
TTM Earnings per share	Rs	0.8	0.6
Diluted earnings per share	Rs	0.8	0.6
Price to Cash Flow	x	56.3	72.9
TTM P/E ratio	x	57.5	67.0
Price / Book Value ratio	x	26.5	13.3
Market Cap	Rs m	97,998	80,637
Dividends per share (Unadj.)	Rs	0.0	0.1

Ratio Analysis for EASY TRIP PLANNERS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.3x during FY24, from 2.0x 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 deteriorated and stood at 20.3x during FY24, from 33.0x 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 declined and down at 17.1% during FY24, from 36.2% 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 declined and down at 24.7% during FY24, from 51.5% 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 declined and down at 12.5% during FY24, from 20.2% 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	2.0	2.3
Debtors’ Days	Days	127	144
Interest coverage	x	33.0	20.3
Debt to equity ratio	x	0.0	0.0
Return on assets	%	20.2	12.5
Return on equity	%	36.2	17.1
Return on capital employed	%	51.5	24.7

To see how EASY TRIP PLANNERS has performed over the last 5 years, please visit here.

EASY TRIP PLANNERS Share Price Performance

Over the last one year, EASY TRIP PLANNERS share price has moved up from Rs 39.7 to Rs 42.2, registering a gain of Rs 2.5 or around 6.4%.

Overall, the S&P BSE SENSEX is up 22.1% over the year.

(To know more, check out historical annual results for EASY TRIP PLANNERS and quarterly results for EASY TRIP PLANNERS)