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HYUNDAI MOTOR INDIA LTD. 2023-24 Annual Report Analysis

Thu, 24 Oct

HYUNDAI MOTOR INDIA 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.

HYUNDAI MOTOR INDIA LTD. Income Statement Analysis

• Operating income during the year rose 15.8% on a year-on-year (YoY) basis.
• The company's operating profit increased by 21.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.1% in FY24 as against 12.5% in FY23.
• Depreciation charges increased by 0.8% and finance costs increased by 11.0% YoY, respectively.
• Other income grew by 30.5% YoY.
• Net profit for the year grew by 28.7% YoY.
• Net profit margins during the year grew from 7.8% in FY23 to 8.7% in FY24.

HYUNDAI MOTOR INDIA LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	603,076	698,291	15.8%
Other income	Rs m	11,291	14,733	30.5%
Total Revenues	Rs m	614,366	713,023	16.1%
Gross profit	Rs m	75,488	91,326	21.0%
Depreciation	Rs m	21,899	22,079	0.8%
Interest	Rs m	1,424	1,581	11.0%
Profit before tax	Rs m	63,456	82,399	29.9%
Tax	Rs m	16,363	21,798	33.2%
Profit after tax	Rs m	47,093	60,600	28.7%
Gross profit margin	%	12.5	13.1
Effective tax rate	%	25.8	26.5
Net profit margin	%	7.8	8.7

For Investors: Our Big Prediction

HYUNDAI MOTOR INDIA LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 130 billion as compared to Rs 120 billion in FY23, thereby witnessing an increase of 8.3%.
• Long-term debt down at Rs 6 billion as compared to Rs 7 billion during FY23, a fall of 11.9%.
• Current assets fell 36% and stood at Rs 161 billion, while fixed assets rose 11% and stood at Rs 93 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 254 billion as against Rs 337 billion during FY23, thereby witnessing a fall of 25%.

HYUNDAI MOTOR INDIA LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	200,548	106,657	-46.8
Current Liabilities	Rs m	120,055	129,972	8.3
Long-term Debt	Rs m	7,066	6,228	-11.9
Total Liabilities	Rs m	337,467	254,015	-24.7
Current assets	Rs m	253,620	161,240	-36.4
Fixed Assets	Rs m	83,848	92,774	10.6
Total Assets	Rs m	337,467	254,015	-24.7

HYUNDAI MOTOR INDIA LTD. Cash Flow Statement Analysis

• HYUNDAI MOTOR INDIA LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs 93 billion, an improvement of 40.9% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -101 billion, an improvement of 614.8% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -159 billion on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -168 billion from the Rs 36 billion net cash flows seen during FY23.

HYUNDAI MOTOR INDIA 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	65,643	92,520	40.9%
Cash Flow from Investing Activities	Rs m	-14,116	-100,905	-
Cash Flow from Financing Activities	Rs m	-15,792	-159,301	-
Net Cash Flow	Rs m	36,023	-167,679	-

Current Valuations for HYUNDAI MOTOR INDIA LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 7,453.9, an improvement from the EPS of Rs 5,792.4 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,921.8, stands at 25.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 14.6 times, while the price to sales ratio stands at 0.0 times.
• The company's price to cash flow (P/CF) ratio stood at 18.9 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	74,179.1	85,890.6
TTM Earnings per share	Rs	5,792.4	7,453.9
Diluted earnings per share	Rs	58.0	74.6
Price to Cash Flow	x	0.0	18.9
TTM P/E ratio	x	0.0	25.8
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	1,561,501
Dividends per share (Unadj.)	Rs	57.3	132.7

Ratio Analysis for HYUNDAI MOTOR INDIA LTD.

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.2x 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 53.1x during FY24, from 45.6x 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 improved and stood at 56.8% during FY24, from 23.5% 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 improved and stood at 74.4% during FY24, from 31.3% 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 24.5% during FY24, from 14.4% 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	1.2
Debtors’ Days	Days	18	13
Interest coverage	x	45.6	53.1
Debt to equity ratio	x	0.0	0.1
Return on assets	%	14.4	24.5
Return on equity	%	23.5	56.8
Return on capital employed	%	31.3	74.4

To see how HYUNDAI MOTOR INDIA LTD. has performed over the last 5 years, please visit here.

HYUNDAI MOTOR INDIA LTD. Share Price Performance

Over the last one year, HYUNDAI MOTOR INDIA LTD. share price has moved up from Rs 0.0 to Rs 1,921.8, registering a gain of Rs 1,921.8 or around 0.0%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 55,524.3 (down 0.0%). Over the last one year it has moved up from 37,013.4 to 55,524.3, a gain of 18,511 points (up 50.0%).

Overall, the S&P BSE SENSEX is up 24.1% over the year.

(To know more, check out historical annual results for HYUNDAI MOTOR INDIA LTD. and quarterly results for HYUNDAI MOTOR INDIA LTD.)