GUJ.STAT.FIN 2022-23 Annual Report Analysis

Mon, 26 Jun

GUJ.STAT.FIN has announced its results for the year ended March 2023. Let us have a look at the detailed performance review of the company during the year 2022-23.

GUJ.STAT.FIN Income Statement Analysis

• Interest income during the year rose 29.5% on a year-on-year (YoY) basis.
• Interest expenses were up by 1.4% YoY during the same period.
• Operating expenses declined by 26.0% YoY during the year.
• The company's net interest income (NII) increased by 1.0% YoY during the fiscal. Consequently, net interest margins (NIM) witnessed a growth and stood at -1402.0% in FY23 as against -1495.6% in FY22.
• Other income increased by 18.4% YoY during the year.
• Net profit for the year increased by 2.1% YoY.
• Net profit margins during the year increased to -909.2% in FY23 from -1202.9% in FY22.

GUJ.STAT.FIN Income Statement – 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Interest Income	Rs m	106	138	29.5%
Other Income	Rs m	5	6	18.4%
Interest Expense	Rs m	1,337	1,356	1.4%
Net Interest Income	Rs m	-1,231	-1,219	1.0%
Operating Expense	Rs m	49	36	-26.0%
Pre-provision Operating Profit	Rs m	-1,275	-1,249	2.1%
Provisions & Contingencies	Rs m	0	0	0.0%
Profit before tax	Rs m	-1,278	-1,251	2.1%
Tax	Rs m	0	0	0.0%
Profit after tax	Rs m	-1,278	-1,251	2.1%
Minority Interest	Rs m	0	0	0.0%
Net Interest Margin	%	-1495.6	-1402.0
Net profit margin	%	-1202.9	-909.2

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

GUJ.STAT.FIN Balance Sheet Analysis

• The company's deposits during FY23 stood at Rs 0 m as compared to Rs 0 m in FY22, thereby witnessing an increase of 0.0%.
• Advances for the year stood at Rs 0 m as compared to Rs 0 m during FY22, a rise of 0.0%.
• Cost of deposits for GUJ.STAT.FIN rose 0.0% and stood at 0.0%, while yield on advances rose to 0.0%.
• The lender's investments rose to Rs 87 m during the year from Rs 82 m in FY22.
• Borrowing stood at Rs 0 m, a growth of 0.0% as compared to previous year.
• Overall, the total assets and liabilities for FY23 stood at Rs 1.9 bn as against Rs 1.8 bn during FY22, thereby witnessing a rise of 5.8%.

GUJ.STAT.FIN Balance Sheet – as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	-26,884	-28,135	-4.7%
Advances	Rs m	0	0	0.0%
Deposits	Rs m	0	0	0.0%
Yield on advances	%	0.0	0.0
Cost of Deposits	%	0.0	0.0
Investments	Rs m	82	87	5.6%
Borrowings	Rs m	0	0	0.0%
Total Assets	Rs m	1,800	1,904	5.8%

Current Valuations for GUJ.STAT.FIN

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -14.0, a decline from the EPS of Rs -14.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 6.3, stands at -0.6 times its trailing twelve months earnings.
• The price to adjusted book value (P/ABV) ratio at current price levels stands at 0.0 times, while the price to income ratio stands at 5.3 times.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Income per share (Unadj.)	Rs	1.2	1.5
Earnings per share (Unadj.)	Rs	-14.3	-14.0
Diluted earnings per share	Rs	-14.3	-14.0
Avg P/E ratio	Rs	-0.8	-0.6
Avg P/ABV ratio	Rs	0.0	0.0
Avg Market Cap	Rs	1,009	733
Dividends per share (Unadj.)	Rs	0.00	0.00

Ratio Analysis for GUJ.STAT.FIN

• Efficiency Ratios

  Credit/Deposit Ratio: The company's credit/deposit ratio improved and stood at 0.0x during FY23, from 0.0x during FY22. The credit/deposit ratio tells us how much money a company has raised in the form of deposits and has deployed as loans.

  Debt to Equity Ratio: The company's debt to equity ratio increased and stood at 0.00x during FY23, from 0.00x during FY22. The debt to equity ratio of a company tells us how much debt a company uses relative to its equity.

• Liquidity Ratios

  Capital Adequacy Ratio (CAR): GUJ.STAT.FIN's capital adequacy ratio (CAR) was at -698.8% as on 31 March 2023 as compared to -661.7% a year ago. This ratio helps measure the financial strength of the company or any finance company to meet their obligations using their assets and capital.

  A company that has a good CAR has enough capital to absorb potential losses. Thus, it has less risk of becoming insolvent and losing depositor's money.

  Provision Coverage Ratio (PCR): Apart from CAR, you also need to take a look at the company's PCR and LCR ratios. Provisioning coverage ratio (PCR) is the percentage of funds that a company sets aside for covering losses due to bad debts.

  So a high PCR ratio means asset quality issues are under control and the company is not vulnerable.

  Liquidity Coverage Ratio (LCR): The LCR is designed to ensure that companies hold a sufficient reserve of high-quality liquid assets to allow them to survive a period of significant liquidity stress lasting 30 calendar days.

• Profitability Ratios

  Return on Equity (ROE): The return on equity (ROE) ratio for the company deteriorated and stood at 4.4% during FY23, from 4.8% during FY22. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

  Return on Assets (ROA): The return on asset (ROA) ratio of the company improved and stood at -65.74% during FY23, from -71.02% during FY22. The ROA measures how efficiently the company uses its assets to generate earnings.

  Return on Capital Employed (ROCE): The ROCE for the company improved and stood at 0.00% during FY23, from 0.00% during FY22. The ROCE measures the ability of a company to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

• NPA Ratios

  Gross NPA Ratio: The gross NPA ratio is the ratio of a company's gross NPAs to gross advances. GUJ.STAT.FIN's gross NPA ratio stood at 0.0% as of 31 March 2023 compared to 0.0% in the same period a year ago.

  A high gross NPA ratio is a bad thing as it indicates how much of a company's loans are in danger of not being repaid.

  Net NPA Ratio: In simple language, net NPAs are simply the total non-performing assets minus the provision left aside. It gives you the exact value of NPAs after the company has made provisions.

  The net NPA ratio of GUJ.STAT.FIN was 0.0% in financial year 2023. This compared with 0.0% a year ago.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Credit/Deposit Ratio	x	0.0	0.0
Debt to Equity Ratio	x	0.0	0.0
Loans / Deposits	x	0.0	0.0
Capital Adequacy Ratio	%	-661.7	-698.8
Return on Equity	%	4.8	4.4
Return on Assets	%	-71.0	-65.7
Return on Capital Employed	%	0.0	0.0
% of Gross NPAs	%	0.0	0.0
% of Net NPAs	%	0.0	0.0
Yield on Advances	x	0.0	0.0
Yield on Investments	x	0.0	0.0

To see how GUJ.STAT.FIN has performed over the last 5 years, please visit here.

GUJ.STAT.FIN Share Price Performance

Over the last one year, GUJ.STAT.FIN share price has moved down from Rs 7.2 to Rs 6.3, registering a loss of Rs 1.0 or around 13.2%.

Overall, the S&P BSE SENSEX is up 21.4% over the year.

(To know more, you can check out historical annual results for GUJ.STAT.FIN here and quarterly results for GUJ.STAT.FIN here)