INTEGRA ESSENTIA 2022-23 Annual Report Analysis

Mon, 12 Feb

INTEGRA ESSENTIA 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.

INTEGRA ESSENTIA Income Statement Analysis

• Operating income during the year rose 252.3% on a year-on-year (YoY) basis.
• The company's operating profit increased by 202.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 1.3% in FY23 as against 1.5% in FY22.
• Depreciation charges increased by 2500.0% and finance costs decreased by 87.0% YoY, respectively.
• Other income grew by 4826.5% YoY.
• Net profit for the year grew by 512.8% YoY.
• Net profit margins during the year grew from 0.0% in FY22 to 2.8% in FY23.

INTEGRA ESSENTIA Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	685	2,414	252.3%
Other income	Rs m	1	41	4,826.5%
Total Revenues	Rs m	686	2,455	257.8%
Gross profit	Rs m	11	32	202.0%
Depreciation	Rs m	0	0	2,500.0%
Interest	Rs m	0	0	-87.0%
Profit before tax	Rs m	11	72	565.2%
Tax	Rs m	0	6	0.0
Profit after tax	Rs m	11	67	512.8%
Gross profit margin	%	1.5	1.3
Effective tax rate	%	0.0	7.9
Net profit margin	%	0.0	2.8

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

INTEGRA ESSENTIA Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 855 million as compared to Rs 460 million in FY22, thereby witnessing an increase of 86.1%.
• Long-term debt down at Rs 0 million as compared to Rs 0 million during FY22, a fall of 0.0%.
• Current assets rose 543% and stood at Rs 1 billion, while fixed assets rose 748,614% and stood at Rs 524 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 2 billion as against Rs 169 million during FY22, thereby witnessing a growth of 853%.

INTEGRA ESSENTIA Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	-291	754	NA
Current Liabilities	Rs m	460	855	86.1
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	169	1,610	853.4
Current assets	Rs m	169	1,086	543.2
Fixed Assets	Rs m	0	524	748,614.3
Total Assets	Rs m	169	1,610	853.4

INTEGRA ESSENTIA Cash Flow Statement Analysis

• INTEGRA ESSENTIA's cash flow from operating activities (CFO) during FY23 stood at Rs 470 million, an improvement of 15,260.5% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -1 billion, an improvement of 3,493,375.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 979 million, an improvement of 119,237% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 51 million from the Rs 4 million net cash flows seen during FY22.

INTEGRA ESSENTIA 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	3	470	15,260.5%
Cash Flow from Investing Activities	Rs m	0	-1,397	-
Cash Flow from Financing Activities	Rs m	1	979	119,236.6%
Net Cash Flow	Rs m	4	51	1,236.8%

Current Valuations for INTEGRA ESSENTIA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.1, an improvement from the EPS of Rs 0.1 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 3.0, stands at 41.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 3.7 times, while the price to sales ratio stands at 0.6 times.
• The company's price to cash flow (P/CF) ratio stood at 37.9 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	6.3	5.3
TTM Earnings per share	Rs	0.1	0.1
Diluted earnings per share	Rs	0.0	0.1
Price to Cash Flow	x	73.3	37.9
TTM P/E ratio	x	73.6	41.8
Price / Book Value ratio	x	-1.3	3.4
Market Cap	Rs m	371	2,534
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for INTEGRA ESSENTIA

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.3x during FY23, from 0.4x 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 1,207.2x during FY23, from 24.7x 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 8.8% during FY23, from -3.7% 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 9.6% during FY23, from -3.9% 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 declined and down at 4.1% during FY23, from 6.7% 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	0.4	1.3
Debtors’ Days	Days	421	156
Interest coverage	x	24.7	1,207.2
Debt to equity ratio	x	0.0	0.0
Return on assets	%	6.7	4.1
Return on equity	%	-3.7	8.8
Return on capital employed	%	-3.9	9.6

To see how INTEGRA ESSENTIA has performed over the last 5 years, please visit here.

INTEGRA ESSENTIA Share Price Performance

Over the last one year, INTEGRA ESSENTIA share price has moved up from Rs 0.9 to Rs 3.0, registering a gain of Rs 2.2 or around 247.4%.

Overall, the S&P BSE SENSEX is up 1.8% over the year.

(To know more, check out historical annual results for INTEGRA ESSENTIA and quarterly results for INTEGRA ESSENTIA)