UDAIPUR CEMENT 2023-24 Annual Report Analysis

Mon, 29 Jul

UDAIPUR CEMENT 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.

UDAIPUR CEMENT Income Statement Analysis

• Operating income during the year rose 12.9% on a year-on-year (YoY) basis.
• The company's operating profit increased by 45.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 16.8% in FY24 as against 13.0% in FY23.
• Depreciation charges increased by 43.4% and finance costs increased by 42.8% YoY, respectively.
• Other income grew by 734.9% YoY.
• Net profit for the year grew by 71.2% YoY.
• Net profit margins during the year grew from 3.5% in FY23 to 5.3% in FY24.

UDAIPUR CEMENT Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	10,310	11,636	12.9%
Other income	Rs m	13	108	734.9%
Total Revenues	Rs m	10,323	11,744	13.8%
Gross profit	Rs m	1,338	1,950	45.8%
Depreciation	Rs m	370	531	43.4%
Interest	Rs m	476	679	42.8%
Profit before tax	Rs m	505	848	67.9%
Tax	Rs m	146	234	59.8%
Profit after tax	Rs m	359	614	71.2%
Gross profit margin	%	13.0	16.8
Effective tax rate	%	29.0	27.6
Net profit margin	%	3.5	5.3

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

UDAIPUR CEMENT Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 3 billion as compared to Rs 4 billion in FY23, thereby witnessing an decrease of -18.3%.
• Long-term debt stood at Rs 12 billion as compared to Rs 10 billion during FY23, a growth of 19.3%.
• Current assets rose 98% and stood at Rs 4 billion, while fixed assets rose 32% and stood at Rs 21 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 25 billion as against Rs 18 billion during FY23, thereby witnessing a growth of 39%.

UDAIPUR CEMENT Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	3,458	8,874	156.6
Current Liabilities	Rs m	4,019	3,284	-18.3
Long-term Debt	Rs m	10,157	12,112	19.3
Total Liabilities	Rs m	17,684	24,593	39.1
Current assets	Rs m	1,997	3,947	97.7
Fixed Assets	Rs m	15,688	20,647	31.6
Total Assets	Rs m	17,684	24,593	39.1

UDAIPUR CEMENT Cash Flow Statement Analysis

• UDAIPUR CEMENT's cash flow from operating activities (CFO) during FY24 stood at Rs 1 billion, an improvement of 28.9% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -7 billion, an improvement of 34.9% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 6 billion, an improvement of 236% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 288 million from the Rs -2 billion net cash flows seen during FY23.

UDAIPUR CEMENT 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	994	1,281	28.9%
Cash Flow from Investing Activities	Rs m	-5,004	-6,749	-
Cash Flow from Financing Activities	Rs m	1,711	5,755	236.3%
Net Cash Flow	Rs m	-2,299	288	-

Current Valuations for UDAIPUR CEMENT

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.1, an decline from the EPS of Rs 1.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 42.6, stands at 50.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.7 times, while the price to sales ratio stands at 2.0 times.
• The company's price to cash flow (P/CF) ratio stood at 15.8 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	33.1	20.8
TTM Earnings per share	Rs	1.2	1.1
Diluted earnings per share	Rs	0.6	1.1
Price to Cash Flow	x	15.6	15.8
TTM P/E ratio	x	31.8	50.8
Price / Book Value ratio	x	2.3	2.0
Market Cap	Rs m	7,942	18,135
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for UDAIPUR CEMENT

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.2x during FY24, from 0.5x 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 2.2x during FY24, from 2.1x 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 6.9% during FY24, from 10.4% 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 7.3% during FY24, from 7.2% 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 improved and stood at 5.3% during FY24, from 4.7% 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	0.5	1.2
Debtors’ Days	Days	0	0
Interest coverage	x	2.1	2.2
Debt to equity ratio	x	2.9	1.4
Return on assets	%	4.7	5.3
Return on equity	%	10.4	6.9
Return on capital employed	%	7.2	7.3

To see how UDAIPUR CEMENT has performed over the last 5 years, please visit here.

UDAIPUR CEMENT Share Price Performance

Over the last one year, UDAIPUR CEMENT share price has moved up from Rs 25.1 to Rs 42.6, registering a gain of Rs 17.4 or around 69.4%.

Overall, the S&P BSE SENSEX is up 22.6% over the year.

(To know more, check out historical annual results for UDAIPUR CEMENT and quarterly results for UDAIPUR CEMENT)