GOLDIAM INTERNATIONAL 2023-24 Annual Report Analysis

Mon, 23 Sep

GOLDIAM INTERNATIONAL 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.

GOLDIAM INTERNATIONAL Income Statement Analysis

• Operating income during the year rose 13.1% on a year-on-year (YoY) basis.
• The company's operating profit increased by 10.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 19.0% in FY24 as against 19.5% in FY23.
• Depreciation charges decreased by 17.4% and finance costs decreased by 59.5% YoY, respectively.
• Other income declined by 34.7% YoY.
• Net profit for the year grew by 6.7% YoY.
• Net profit margins during the year declined from 16.0% in FY23 to 15.1% in FY24.

GOLDIAM INTERNATIONAL Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	5,332	6,029	13.1%
Other income	Rs m	212	139	-34.7%
Total Revenues	Rs m	5,544	6,167	11.2%
Gross profit	Rs m	1,040	1,145	10.1%
Depreciation	Rs m	74	61	-17.4%
Interest	Rs m	4	2	-59.5%
Profit before tax	Rs m	1,175	1,221	3.9%
Tax	Rs m	323	312	-3.4%
Profit after tax	Rs m	852	909	6.7%
Gross profit margin	%	19.5	19.0
Effective tax rate	%	27.5	25.5
Net profit margin	%	16.0	15.1

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GOLDIAM INTERNATIONAL Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 923 million as compared to Rs 1 billion in FY23, thereby witnessing an decrease of -12.9%.
• Current assets rose 6% and stood at Rs 7 billion, while fixed assets fell 14% and stood at Rs 570 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 7 billion as against Rs 7 billion during FY23, thereby witnessing a growth of 4%.

GOLDIAM INTERNATIONAL Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	5,857	6,305	7.6
Current Liabilities	Rs m	1,060	923	-12.9
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	7,024	7,330	4.4
Current assets	Rs m	6,361	6,761	6.3
Fixed Assets	Rs m	663	570	-14.1
Total Assets	Rs m	7,024	7,330	4.4

GOLDIAM INTERNATIONAL Cash Flow Statement Analysis

• GOLDIAM INTERNATIONAL's cash flow from operating activities (CFO) during FY24 stood at Rs 1 billion, an improvement of 64.2% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -276 million, an improvement of 88.4% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -535 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 259 million from the Rs 194 million net cash flows seen during FY23.

GOLDIAM INTERNATIONAL 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	652	1,070	64.2%
Cash Flow from Investing Activities	Rs m	-146	-276	-
Cash Flow from Financing Activities	Rs m	-311	-535	-
Net Cash Flow	Rs m	194	259	33.6%

Current Valuations for GOLDIAM INTERNATIONAL

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 8.5, an improvement from the EPS of Rs 7.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 380.0, stands at 42.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 6.4 times, while the price to sales ratio stands at 6.7 times.
• The company's price to cash flow (P/CF) ratio stood at 18.5 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	48.9	56.4
TTM Earnings per share	Rs	7.8	8.5
Diluted earnings per share	Rs	8.0	8.5
Price to Cash Flow	x	14.8	18.5
TTM P/E ratio	x	16.1	42.4
Price / Book Value ratio	x	2.8	2.9
Market Cap	Rs m	16,112	17,974
Dividends per share (Unadj.)	Rs	2.0	1.2

Ratio Analysis for GOLDIAM INTERNATIONAL

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 7.3x during FY24, from 6.0x 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 improved and stood at 764.1x during FY24, from 298.4x 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 14.4% during FY24, from 14.5% 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 19.4% during FY24, from 20.1% 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 12.4% during FY24, from 12.2% 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	6.0	7.3
Debtors’ Days	Days	1,009	864
Interest coverage	x	298.4	764.1
Debt to equity ratio	x	0.0	0.0
Return on assets	%	12.2	12.4
Return on equity	%	14.5	14.4
Return on capital employed	%	20.1	19.4

To see how GOLDIAM INTERNATIONAL has performed over the last 5 years, please visit here.

GOLDIAM INTERNATIONAL Share Price Performance

Over the last one year, GOLDIAM INTERNATIONAL share price has moved up from Rs 127.2 to Rs 380.0, registering a gain of Rs 252.9 or around 198.9%.

Overall, the S&P BSE SENSEX is up 27.1% over the year.

(To know more, check out historical annual results for GOLDIAM INTERNATIONAL and quarterly results for GOLDIAM INTERNATIONAL)