Markets will remain closed on 20^th November, 2024 on account of Assembly Elections in Maharashtra.

GODAVARI BIOREFINERIES LTD. 2023-24 Annual Report Analysis

Mon, 11 Nov

GODAVARI BIOREFINERIES LTD. 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.

GODAVARI BIOREFINERIES LTD. Income Statement Analysis

• Operating income during the year fell 16.3% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 8.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 7.9% in FY24 as against 7.3% in FY23.
• Depreciation charges increased by 19.7% and finance costs increased by 3.8% YoY, respectively.
• Other income grew by 71.7% YoY.
• Net profit for the year declined by 37.4% YoY.
• Net profit margins during the year declined from 1.0% in FY23 to 0.7% in FY24.

GODAVARI BIOREFINERIES LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	20,147	16,867	-16.3%
Other income	Rs m	84	144	71.7%
Total Revenues	Rs m	20,231	17,011	-15.9%
Gross profit	Rs m	1,462	1,335	-8.7%
Depreciation	Rs m	501	599	19.7%
Interest	Rs m	728	756	3.8%
Profit before tax	Rs m	318	124	-60.8%
Tax	Rs m	121	1	-98.8%
Profit after tax	Rs m	196	123	-37.4%
Gross profit margin	%	7.3	7.9
Effective tax rate	%	38.2	1.2
Net profit margin	%	1.0	0.7

For Investors: Our Big Prediction

GODAVARI BIOREFINERIES LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 11 billion as compared to Rs 8 billion in FY23, thereby witnessing an increase of 44.4%.
• Long-term debt down at Rs 4 billion as compared to Rs 5 billion during FY23, a fall of 22.8%.
• Current assets rose 31% and stood at Rs 11 billion, while fixed assets fell 0% and stood at Rs 9 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 20 billion as against Rs 17 billion during FY23, thereby witnessing a growth of 14%.

GODAVARI BIOREFINERIES LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	4,894	5,007	2.3
Current Liabilities	Rs m	7,684	11,097	44.4
Long-term Debt	Rs m	4,602	3,555	-22.8
Total Liabilities	Rs m	17,435	19,917	14.2
Current assets	Rs m	8,243	10,765	30.6
Fixed Assets	Rs m	9,192	9,152	-0.4
Total Assets	Rs m	17,435	19,917	14.2

GODAVARI BIOREFINERIES LTD. Cash Flow Statement Analysis

• GODAVARI BIOREFINERIES LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs 2 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -445 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -2 billion on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -102 million from the Rs 112 million net cash flows seen during FY23.

GODAVARI BIOREFINERIES LTD. 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	1,970	1,857	-5.7%
Cash Flow from Investing Activities	Rs m	-2,141	-445	-
Cash Flow from Financing Activities	Rs m	284	-1,513	-
Net Cash Flow	Rs m	112	-102	-

Current Valuations for GODAVARI BIOREFINERIES LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 2.9, an decline from the EPS of Rs 4.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 344.4, stands at 143.3 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 3.5 times, while the price to sales ratio stands at 0.9 times.
• The company's price to cash flow (P/CF) ratio stood at 24.4 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	480.4	402.2
TTM Earnings per share	Rs	4.7	2.9
Diluted earnings per share	Rs	3.8	2.4
Price to Cash Flow	x	0.0	24.4
TTM P/E ratio	x	0.0	143.3
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	17,625
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for GODAVARI BIOREFINERIES LTD.

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.0x during FY24, from 1.1x 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 1.2x during FY24, from 1.4x 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 2.5% during FY24, from 4.0% 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 10.3% during FY24, from 11.0% 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 declined and down at 4.4% during FY24, from 5.3% 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	1.1	1.0
Debtors’ Days	Days	37	41
Interest coverage	x	1.4	1.2
Debt to equity ratio	x	0.9	0.7
Return on assets	%	5.3	4.4
Return on equity	%	4.0	2.5
Return on capital employed	%	11.0	10.3

To see how GODAVARI BIOREFINERIES LTD. has performed over the last 5 years, please visit here.

GODAVARI BIOREFINERIES LTD. Share Price Performance

Over the last one year, GODAVARI BIOREFINERIES LTD. share price has moved up from Rs 0.0 to Rs 344.4, registering a gain of Rs 344.4 or around 0.0%.

Overall, the S&P BSE SENSEX is up 23.2% over the year.

(To know more, check out historical annual results for GODAVARI BIOREFINERIES LTD. and quarterly results for GODAVARI BIOREFINERIES LTD.)