GOPAL SNACKS LTD. 2023-24 Annual Report Analysis

Tue, 24 Sep

GOPAL SNACKS 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.

GOPAL SNACKS LTD. Income Statement Analysis

• Operating income during the year rose 0.6% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 14.2% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 12.0% in FY24 as against 14.1% in FY23.
• Depreciation charges decreased by 4.5% and finance costs decreased by 51.4% YoY, respectively.
• Other income grew by 13.5% YoY.
• Net profit for the year declined by 11.4% YoY.
• Net profit margins during the year declined from 8.1% in FY23 to 7.1% in FY24.

GOPAL SNACKS LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	13,947	14,025	0.6%
Other income	Rs m	39	44	13.5%
Total Revenues	Rs m	13,985	14,069	0.6%
Gross profit	Rs m	1,962	1,684	-14.2%
Depreciation	Rs m	374	358	-4.5%
Interest	Rs m	108	53	-51.4%
Profit before tax	Rs m	1,518	1,318	-13.2%
Tax	Rs m	395	322	-18.4%
Profit after tax	Rs m	1,124	996	-11.4%
Gross profit margin	%	14.1	12.0
Effective tax rate	%	26.0	24.5
Net profit margin	%	8.1	7.1

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GOPAL SNACKS LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 1 billion as compared to Rs 969 million in FY23, thereby witnessing an increase of 24.0%.
• Long-term debt down at Rs 37 million as compared to Rs 485 million during FY23, a fall of 92.4%.
• Current assets rose 39% and stood at Rs 3 billion, while fixed assets fell 1% and stood at Rs 3 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 5 billion as against Rs 5 billion during FY23, thereby witnessing a growth of 17%.

GOPAL SNACKS LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	2,909	3,903	34.2
Current Liabilities	Rs m	969	1,201	24.0
Long-term Debt	Rs m	485	37	-92.4
Total Liabilities	Rs m	4,613	5,385	16.7
Current assets	Rs m	2,062	2,870	39.2
Fixed Assets	Rs m	2,551	2,515	-1.4
Total Assets	Rs m	4,613	5,385	16.7

GOPAL SNACKS LTD. Cash Flow Statement Analysis

• GOPAL SNACKS LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs 683 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -42 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -436 million, an improvement of 37% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 205 million from the Rs 25 million net cash flows seen during FY23.

GOPAL SNACKS 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	1,215	683	-43.8%
Cash Flow from Investing Activities	Rs m	-502	-42	-
Cash Flow from Financing Activities	Rs m	-688	-436	-
Net Cash Flow	Rs m	25	205	713.9%

Current Valuations for GOPAL SNACKS LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 8.0, an decline from the EPS of Rs 9.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 379.8, stands at 47.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 12.1 times, while the price to sales ratio stands at 3.4 times.
• The company's price to cash flow (P/CF) ratio stood at 33.8 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	111.9	112.6
TTM Earnings per share	Rs	9.0	8.0
Diluted earnings per share	Rs	9.0	8.0
Price to Cash Flow	x	0.0	33.8
TTM P/E ratio	x	0.0	47.5
Price / Book Value ratio	x	0.0	11.7
Market Cap	Rs m	0	45,773
Dividends per share (Unadj.)	Rs	0.0	0.3

Ratio Analysis for GOPAL SNACKS LTD.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.4x during FY24, from 2.1x 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 improved and stood at 26.0x during FY24, from 15.0x 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 25.5% during FY24, from 38.6% 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 34.8% during FY24, from 47.9% 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 19.5% during FY24, from 26.7% 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	2.1	2.4
Debtors’ Days	Days	3	8
Interest coverage	x	15.0	26.0
Debt to equity ratio	x	0.2	0.0
Return on assets	%	26.7	19.5
Return on equity	%	38.6	25.5
Return on capital employed	%	47.9	34.8

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

GOPAL SNACKS LTD. Share Price Performance

Over the last one year, GOPAL SNACKS LTD. share price has moved up from Rs 0.0 to Rs 379.8, registering a gain of Rs 379.8 or around 0.0%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 24,015.1 (down 0.2%). Over the last one year it has moved up from 18,663.9 to 24,015.1, a gain of 5,351 points (up 28.7%).

Overall, the S&P BSE SENSEX is up 27.3% over the year.

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