ALLCARGO GATI 2023-24 Annual Report Analysis

Wed, 21 Aug

ALLCARGO GATI 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.

ALLCARGO GATI Income Statement Analysis

• Operating income during the year fell 1.5% on a year-on-year (YoY) basis.
• The company's operating profit increased by 10.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 3.9% in FY24 as against 3.5% in FY23.
• Depreciation charges increased by 16.4% and finance costs increased by 2.2% YoY, respectively.
• Other income declined by 6.5% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 0.6% in FY23 to 0.4% in FY24.

ALLCARGO GATI Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	17,232	16,980	-1.5%
Other income	Rs m	337	315	-6.5%
Total Revenues	Rs m	17,569	17,295	-1.6%
Gross profit	Rs m	602	664	10.3%
Depreciation	Rs m	592	689	16.4%
Interest	Rs m	294	300	2.2%
Profit before tax	Rs m	53	-11	NA
Tax	Rs m	162	-72	NA
Profit after tax	Rs m	-109	61	NA
Gross profit margin	%	3.5	3.9
Effective tax rate	%	305.8	677.4
Net profit margin	%	-0.6	0.4

Don't Miss: Key Information for Long-term Investors

ALLCARGO GATI Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 4 billion as compared to Rs 4 billion in FY23, thereby witnessing an decrease of -1.9%.
• Current assets rose 13% and stood at Rs 5 billion, while fixed assets rose 4% and stood at Rs 8 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 13 billion as against Rs 13 billion during FY23, thereby witnessing a growth of 2%.

ALLCARGO GATI Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	5,982	6,153	2.9
Current Liabilities	Rs m	4,169	4,088	-1.9
Long-term Debt	Rs m	0	0	-100.0
Total Liabilities	Rs m	12,584	12,878	2.3
Current assets	Rs m	4,212	4,769	13.2
Fixed Assets	Rs m	7,633	7,974	4.5
Total Assets	Rs m	12,584	12,878	2.3

ALLCARGO GATI Cash Flow Statement Analysis

• ALLCARGO GATI's cash flow from operating activities (CFO) during FY24 stood at Rs 726 million, an improvement of 24.8% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 518 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -547 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 697 million from the Rs 31 million net cash flows seen during FY23.

ALLCARGO GATI 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	582	726	24.8%
Cash Flow from Investing Activities	Rs m	-163	518	-
Cash Flow from Financing Activities	Rs m	-387	-547	-
Net Cash Flow	Rs m	31	697	2,134.0%

Current Valuations for ALLCARGO GATI

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.5, an improvement from the EPS of Rs -0.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 100.3, stands at 220.0 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.4 times, while the price to sales ratio stands at 0.8 times.
• The company's price to cash flow (P/CF) ratio stood at 23.7 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	132.4	130.4
TTM Earnings per share	Rs	-0.8	0.5
Diluted earnings per share	Rs	-0.7	0.4
Price to Cash Flow	x	30.7	23.7
TTM P/E ratio	x	-135.7	220.0
Price / Book Value ratio	x	3.2	2.9
Market Cap	Rs m	19,058	17,786
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ALLCARGO GATI

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.2x during FY24, from 1.0x 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 1.0x during FY24, from 1.2x 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 1.0% during FY24, from -1.8% 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 4.7% during FY24, from 5.8% 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 2.8% during FY24, from 1.5% 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	1.0	1.2
Debtors’ Days	Days	565	524
Interest coverage	x	1.2	1.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	1.5	2.8
Return on equity	%	-1.8	1.0
Return on capital employed	%	5.8	4.7

To see how ALLCARGO GATI has performed over the last 5 years, please visit here.

ALLCARGO GATI Share Price Performance

Over the last one year, ALLCARGO GATI share price has moved down from Rs 153.3 to Rs 100.3, registering a loss of Rs 53.0 or around 34.6%.

Overall, the S&P BSE SENSEX is up 23.8% over the year.

(To know more, check out historical annual results for ALLCARGO GATI and quarterly results for ALLCARGO GATI)