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GABRIEL INDIA 2023-24 Annual Report Analysis

Mon, 29 Jul

GABRIEL INDIA 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.

GABRIEL INDIA Income Statement Analysis

• Operating income during the year rose 14.5% on a year-on-year (YoY) basis.
• The company's operating profit increased by 36.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 8.6% in FY24 as against 7.2% in FY23.
• Depreciation charges increased by 23.4% and finance costs increased by 79.7% YoY, respectively.
• Other income grew by 11.7% YoY.
• Net profit for the year grew by 35.1% YoY.
• Net profit margins during the year grew from 4.5% in FY23 to 5.3% in FY24.

GABRIEL INDIA Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	29,717	34,026	14.5%
Other income	Rs m	174	194	11.7%
Total Revenues	Rs m	29,891	34,220	14.5%
Gross profit	Rs m	2,137	2,926	36.9%
Depreciation	Rs m	486	599	23.4%
Interest	Rs m	46	82	79.7%
Profit before tax	Rs m	1,779	2,438	37.1%
Tax	Rs m	456	651	42.9%
Profit after tax	Rs m	1,324	1,787	35.1%
Gross profit margin	%	7.2	8.6
Effective tax rate	%	25.6	26.7
Net profit margin	%	4.5	5.3

For Investors: Our Big Prediction

GABRIEL INDIA Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 7 billion as compared to Rs 5 billion in FY23, thereby witnessing an increase of 35.8%.
• Current assets rose 21% and stood at Rs 11 billion, while fixed assets rose 31% and stood at Rs 9 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 21 billion as against Rs 17 billion during FY23, thereby witnessing a growth of 25%.

GABRIEL INDIA Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	8,703	10,022	15.2
Current Liabilities	Rs m	5,193	7,050	35.8
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	16,591	20,776	25.2
Current assets	Rs m	9,423	11,401	21.0
Fixed Assets	Rs m	7,168	9,375	30.8
Total Assets	Rs m	16,591	20,776	25.2

GABRIEL INDIA Cash Flow Statement Analysis

• GABRIEL INDIA's cash flow from operating activities (CFO) during FY24 stood at Rs 2 billion, an improvement of 29.5% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -1 billion, an improvement of 23.9% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -279 million, an improvement of 17% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 201 million from the Rs -12 million net cash flows seen during FY23.

GABRIEL INDIA 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	1,364	1,766	29.5%
Cash Flow from Investing Activities	Rs m	-1,038	-1,286	-
Cash Flow from Financing Activities	Rs m	-337	-279	-
Net Cash Flow	Rs m	-12	201	-

Current Valuations for GABRIEL INDIA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 12.4, an improvement from the EPS of Rs 9.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 501.9, stands at 40.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 7.2 times, while the price to sales ratio stands at 2.1 times.
• The company's price to cash flow (P/CF) ratio stood at 17.3 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	206.9	236.9
TTM Earnings per share	Rs	9.2	12.4
Diluted earnings per share	Rs	9.2	12.4
Price to Cash Flow	x	10.8	17.3
TTM P/E ratio	x	14.7	40.4
Price / Book Value ratio	x	2.5	4.1
Market Cap	Rs m	21,769	41,362
Dividends per share (Unadj.)	Rs	2.6	4.0

Ratio Analysis for GABRIEL INDIA

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.6x during FY24, from 1.8x 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 30.6x during FY24, from 39.8x 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 improved and stood at 17.8% during FY24, from 15.2% 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 improved and stood at 25.2% during FY24, from 21.0% 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 9.0% during FY24, from 8.3% 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	1.8	1.6
Debtors’ Days	Days	47	53
Interest coverage	x	39.8	30.6
Debt to equity ratio	x	0.0	0.0
Return on assets	%	8.3	9.0
Return on equity	%	15.2	17.8
Return on capital employed	%	21.0	25.2

To see how GABRIEL INDIA has performed over the last 5 years, please visit here.

GABRIEL INDIA Share Price Performance

Over the last one year, GABRIEL INDIA share price has moved up from Rs 217.1 to Rs 501.9, registering a gain of Rs 284.8 or around 131.2%.

Overall, the S&P BSE SENSEX is up 22.6% over the year.

(To know more, check out historical annual results for GABRIEL INDIA and quarterly results for GABRIEL INDIA)