INNOVA CAPTAB LTD. 2023-24 Annual Report Analysis

Tue, 27 Aug

INNOVA CAPTAB 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.

INNOVA CAPTAB LTD. Income Statement Analysis

• Operating income during the year rose 16.7% on a year-on-year (YoY) basis.
• The company's operating profit increased by 35.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 14.3% in FY24 as against 12.3% in FY23.
• Depreciation charges increased by 44.1% and finance costs increased by 7.4% YoY, respectively.
• Other income grew by 35.8% YoY.
• Net profit for the year grew by 38.8% YoY.
• Net profit margins during the year grew from 7.3% in FY23 to 8.7% in FY24.

INNOVA CAPTAB LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	9,264	10,813	16.7%
Other income	Rs m	92	125	35.8%
Total Revenues	Rs m	9,356	10,938	16.9%
Gross profit	Rs m	1,136	1,545	35.9%
Depreciation	Rs m	111	160	44.1%
Interest	Rs m	200	215	7.4%
Profit before tax	Rs m	918	1,295	41.1%
Tax	Rs m	238	352	47.6%
Profit after tax	Rs m	680	943	38.8%
Gross profit margin	%	12.3	14.3
Effective tax rate	%	26.0	27.2
Net profit margin	%	7.3	8.7

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

INNOVA CAPTAB LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 3 billion as compared to Rs 3 billion in FY23, thereby witnessing an increase of 5.9%.
• Long-term debt stood at Rs 2 billion as compared to Rs 1 billion during FY23, a growth of 55.2%.
• Current assets rose 37% and stood at Rs 6 billion, while fixed assets rose 136% and stood at Rs 7 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 13 billion as against Rs 7 billion during FY23, thereby witnessing a growth of 78%.

INNOVA CAPTAB LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	2,765	8,309	200.5
Current Liabilities	Rs m	2,776	2,940	5.9
Long-term Debt	Rs m	1,342	2,082	55.2
Total Liabilities	Rs m	7,482	13,294	77.7
Current assets	Rs m	4,425	6,082	37.5
Fixed Assets	Rs m	3,058	7,212	135.9
Total Assets	Rs m	7,482	13,294	77.7

INNOVA CAPTAB LTD. Cash Flow Statement Analysis

• INNOVA CAPTAB LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs 1 billion, an improvement of 118.0% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -5 billion, an improvement of 449.3% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 4 billion, an improvement of 1,232% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 82 million from the Rs 34 million net cash flows seen during FY23.

INNOVA CAPTAB 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	671	1,463	118.0%
Cash Flow from Investing Activities	Rs m	-908	-4,990	-
Cash Flow from Financing Activities	Rs m	271	3,608	1,231.9%
Net Cash Flow	Rs m	34	82	143.2%

Current Valuations for INNOVA CAPTAB LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 16.5, an improvement from the EPS of Rs 14.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 677.6, stands at 36.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 4.7 times, while the price to sales ratio stands at 3.6 times.
• The company's price to cash flow (P/CF) ratio stood at 26.8 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	193.0	189.0
TTM Earnings per share	Rs	14.2	16.5
Diluted earnings per share	Rs	11.9	16.5
Price to Cash Flow	x	0.0	26.8
TTM P/E ratio	x	0.0	36.5
Price / Book Value ratio	x	0.0	3.6
Market Cap	Rs m	0	29,585
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for INNOVA CAPTAB LTD.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.1x during FY24, from 1.6x 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 7.0x during FY24, from 5.6x 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 declined and down at 11.4% during FY24, from 24.6% 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 14.5% during FY24, from 27.2% 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 8.7% during FY24, from 11.8% 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	1.6	2.1
Debtors’ Days	Days	104	97
Interest coverage	x	5.6	7.0
Debt to equity ratio	x	0.5	0.3
Return on assets	%	11.8	8.7
Return on equity	%	24.6	11.4
Return on capital employed	%	27.2	14.5

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

INNOVA CAPTAB LTD. Share Price Performance

Over the last one year, INNOVA CAPTAB LTD. share price has moved up from Rs 0.0 to Rs 677.6, registering a gain of Rs 677.6 or around 0.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 42,350.4 (up 0.4%). Over the last one year it has moved up from 27,642.3 to 42,350.4, a gain of 14,708 points (up 53.2%).

Overall, the S&P BSE SENSEX is up 24.9% over the year.

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