FISCHER CHEMIC 2023-24 Annual Report Analysis

Thu, 26 Sep

FISCHER CHEMIC 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.

FISCHER CHEMIC Income Statement Analysis

• Operating income during the year rose 11556.1% on a year-on-year (YoY) basis.
• The company's operating profit increased by 12300.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 8.9% in FY24 as against 8.3% in FY23.
• Depreciation charges increased by 0.0% and finance costs increased by 300.0% YoY, respectively.
• Other income grew by 0.0% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 0.0% in FY23 to 8.8% in FY24.

FISCHER CHEMIC Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	2	210	11,556.1%
Other income	Rs m	0	5	0.0%
Total Revenues	Rs m	2	215	11,835.0%
Gross profit	Rs m	0	19	12,300.0%
Depreciation	Rs m	0	2	0.0%
Interest	Rs m	0	1	300.0%
Profit before tax	Rs m	0	21	NA
Tax	Rs m	0	3	680.0%
Profit after tax	Rs m	0	18	NA
Gross profit margin	%	8.3	8.9
Effective tax rate	%	-3,500.0	12.9
Net profit margin	%	0.0	8.8

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FISCHER CHEMIC Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 39 million as compared to Rs 0 million in FY23, thereby witnessing an increase of 7945.8%.
• Current assets rose 28,302% and stood at Rs 704 million, while fixed assets fell 0% and stood at Rs 159 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 864 million as against Rs 2 million during FY23, thereby witnessing a growth of 34,719%.

FISCHER CHEMIC Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	-3	802	NA
Current Liabilities	Rs m	0	39	7,945.8
Long-term Debt	Rs m	6	0	-100.0
Total Liabilities	Rs m	2	864	34,719.4
Current assets	Rs m	2	704	28,301.6
Fixed Assets	Rs m	0	159	0.0
Total Assets	Rs m	2	864	34,719.4

FISCHER CHEMIC Cash Flow Statement Analysis

• FISCHER CHEMIC's cash flow from operating activities (CFO) during FY24 stood at Rs -76 million, an improvement of 0.0% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -312 million, an improvement of 0.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 371 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 9 million from the Rs 0 million net cash flows seen during FY23.

FISCHER CHEMIC 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	0	-76	-
Cash Flow from Investing Activities	Rs m	0	-312	-
Cash Flow from Financing Activities	Rs m	0	371	0.0%
Net Cash Flow	Rs m	0	9	0.0%

Current Valuations for FISCHER CHEMIC

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.3, an improvement from the EPS of Rs -2.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 612.5, stands at 1,321.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 40.8 times, while the price to sales ratio stands at 156.2 times.
• The company's price to cash flow (P/CF) ratio stood at 915.7 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	10.6	3.9
TTM Earnings per share	Rs	-2.2	0.3
Diluted earnings per share	Rs	0.0	0.3
Price to Cash Flow	x	-12,312.3	915.7
TTM P/E ratio	x	-12,840.0	1,321.7
Price / Book Value ratio	x	-5.7	23.1
Market Cap	Rs m	15	18,496
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for FISCHER CHEMIC

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 18.2x during FY24, from 5.2x 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 improved and stood at 32.0x during FY24, from 0.9x 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 2.3% during FY24, from 13.7% 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 2.7% during FY24, from 5.0% 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 improved and stood at 2.2% during FY24, from -8.1% 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	5.2	18.2
Debtors’ Days	Days	3,459	3,979
Interest coverage	x	0.9	32.0
Debt to equity ratio	x	-2.2	0.0
Return on assets	%	-8.1	2.2
Return on equity	%	13.7	2.3
Return on capital employed	%	5.0	2.7

To see how FISCHER CHEMIC has performed over the last 5 years, please visit here.

FISCHER CHEMIC Share Price Performance

Over the last one year, FISCHER CHEMIC share price has moved up from Rs 74.0 to Rs 612.5, registering a gain of Rs 538.5 or around 727.6%.

Overall, the S&P BSE SENSEX is up 29.3% over the year.

(To know more, check out historical annual results for FISCHER CHEMIC and quarterly results for FISCHER CHEMIC)