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GITA RENEWABLE 2022-23 Annual Report Analysis
Wed, 4 Oct

GITA RENEWABLE has announced its results for the year ended March 2023. Let us have a look at the detailed performance review of the company during FY22-23.

GITA RENEWABLE Income Statement Analysis

  • Operating income during the year fell 12.5% on a year-on-year (YoY) basis.
  • The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and down at 251.9% in FY23 as against 269.2% in FY22.
  • Depreciation charges increased by 0.0% increased by 0.0% YoY, respectively.
  • Other income grew by 186.2% YoY.
  • Net profit for the year grew by 230.1% YoY.
  • Net profit margins during the year grew from 991.9% in FY22 to 3742.3% in FY23.

GITA RENEWABLE Income Statement 2022-23

No. of Mths Year Ending 12 Mar-22* 12 Mar-23* % Change
Net Sales Rs m 2 2 -12.5%
Other income Rs m 30 87 186.2%
Total Revenues Rs m 33 89 171.6%
Gross profit Rs m -6 -5 NA
Depreciation Rs m 0 0 0.0%
Interest Rs m 0 3 0.0%
Profit before tax Rs m 24 79 230.1%
Tax Rs m 0 0 0.0
Profit after tax Rs m 24 79 230.1%
Gross profit margin % -269.2 -251.9
Effective tax rate % 0.0 0.0
Net profit margin % 991.9 3,742.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Must See: These Segments are Witnessing Incredible Growth with Modi's Push

GITA RENEWABLE Balance Sheet Analysis

  • The company's current liabilities during FY23 down at Rs 4 million as compared to Rs 7 million in FY22, thereby witnessing an decrease of -34.6%.
  • Current assets fell 88% and stood at Rs 16 million, while fixed assets fell 57% and stood at Rs 126 million in FY23.
  • Overall, the total assets and liabilities for FY23 stood at Rs 142 million as against Rs 431 million during FY22, thereby witnessing a fall of 67%.

GITA RENEWABLE Balance Sheet as on March 2023

No. of Mths Year Ending 12 Mar-22* 12 Mar-23* % Change
Networth Rs m 159 138 -13.8
 
Current Liabilities Rs m 7 4 -34.6
Long-term Debt Rs m 264 0 -100.0
Total Liabilities Rs m 431 142 -67.0
 
Current assets Rs m 136 16 -88.2
Fixed Assets Rs m 295 126 -57.3
Total Assets Rs m 431 142 -67.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



GITA RENEWABLE Cash Flow Statement Analysis

  • GITA RENEWABLE's cash flow from operating activities (CFO) during FY23 stood at Rs 152 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY23 stood at Rs 69 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY23 stood at Rs -264 million on a YoY basis.
  • Overall, net cash flows for the company during FY23 stood at Rs -44 million from the Rs -22 million net cash flows seen during FY22.

GITA RENEWABLE Cash Flow Statement 2022-23

Particulars No. of months 12 12 % Change
Year Ending Mar-22 Mar-23
Cash Flow from Operating Activities Rs m -243 152 -
Cash Flow from Investing Activities Rs m -44 69 -
Cash Flow from Financing Activities Rs m 264 -264 -
Net Cash Flow Rs m -22 -44 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for GITA RENEWABLE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 19.1, an improvement from the EPS of Rs 5.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 121.2, stands at 6.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.6 times, while the price to sales ratio stands at 237.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 7.4 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-22* 12 Mar-23*
Sales per share (Unadj.) Rs 0.6 0.5
TTM Earnings per share Rs 5.8 19.1
Diluted earnings per share Rs 5.8 19.1
Price to Cash Flow x 34.5 7.4
TTM P/E ratio x 50.5 6.8
Price / Book Value ratio x 4.6 4.2
Market Cap Rs m 726 581
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for GITA RENEWABLE

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 3.6x during FY23, from 20.0x during FY22. 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 29.7x during FY23, from 0.0x during FY22. 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 57.2% during FY23, from 14.9% during FY23. 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 59.1% during FY23, from 5.6% during FY22. 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 57.3% during FY23, from 5.5% during FY22. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-22* 12 Mar-23*
Current ratio x 20.0 3.6
Debtors’ Days Days 91,437 7,505
Interest coverage x 0.0 29.7
Debt to equity ratio x 1.7 0.0
Return on assets % 5.5 57.3
Return on equity % 14.9 57.2
Return on capital employed % 5.6 59.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how GITA RENEWABLE has performed over the last 5 years, please visit here.

GITA RENEWABLE Share Price Performance

Over the last one year, GITA RENEWABLE share price has moved down from Rs 133.1 to Rs 121.2, registering a loss of Rs 11.9 or around 8.9%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 18,614.2 (down 0.9%). Over the last one year it has moved down from 18,707.1 to 18,614.2, a loss of 93 points (down 0.5%).

Overall, the S&P BSE SENSEX is up 15.6% over the year.

(To know more, check out historical annual results for GITA RENEWABLE and quarterly results for GITA RENEWABLE)

Annual Report FAQs

What is the current share price of GITA RENEWABLE?

GITA RENEWABLE currently trades at Rs 154.7 per share. You can check out the latest share price performance of GITA RENEWABLE here...

What was the revenue of GITA RENEWABLE in FY23? How does it compare to earlier years?

The revenues of GITA RENEWABLE stood at Rs 89 m in FY23, which was up 171.6% compared to Rs 33 m reported in FY22.

GITA RENEWABLE's revenue has grown from Rs 4 m in FY19 to Rs 89 m in FY23.

Over the past 5 years, the revenue of GITA RENEWABLE has grown at a CAGR of 122.8%.

What was the net profit of GITA RENEWABLE in FY23? How does it compare to earlier years?

The net profit of GITA RENEWABLE stood at Rs 79 m in FY23, which was up 230.1% compared to Rs 24 m reported in FY22.

This compares to a net loss of Rs -141 m in FY21 and a net loss of Rs -17 m in FY20.

Over the past 5 years, GITA RENEWABLE net profit has grown at a CAGR of NaN%.

What does the cash flow statement of GITA RENEWABLE reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of GITA RENEWABLE reveals:

  • Cash flow from operations increased in FY23 and stood at Rs 152 m as compared to Rs -243 m in FY22.
  • Cash flow from investments increased in FY23 and stood at Rs 69 m as compared to Rs -44 m in FY22.
  • Cash flow from financial activity decreased in FY23 and stood at Rs -264 m as compared to Rs 264 m in FY22.

Here's the cash flow statement of GITA RENEWABLE for the past 5 years.

(Rs m)FY19FY20FY21FY22FY23
From Operations6871-230-243152
From Investments-69-56281-4469
From Financial Activity000264-264
Net Cashflow-11552-22-44

What does the Key Ratio analysis of GITA RENEWABLE reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of GITA RENEWABLE reveals:

  • Operating profit margins witnessed a growth and down at 251.9% in FY23 as against 269.2% in FY22.
  • Net profit margins grew from 991.9% in FY22 to 3742.3% in FY23.
  • Debt to Equity ratio for FY23 stood at 0.0 as compared to 1.7 in FY22.

Here's the ratio/financial analysis of GITA RENEWABLE for the past 5 years.

 FY19FY20FY21FY22FY23
Operating Profit Margin (%)18.811.7-5,964.9-269.0-251.9
Net Profit Margin (%)-519.3-484.9-5,889.6991.93,742.3
Debt to Equity Ratio (x)0.00.00.01.70.0

 

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