KABRA EXTRUSION 2023-24 Annual Report Analysis

Tue, 2 Jul

KABRA EXTRUSION 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.

KABRA EXTRUSION Income Statement Analysis

• Operating income during the year fell 9.3% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 14.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 10.3% in FY24 as against 11.0% in FY23.
• Depreciation charges increased by 14.7% and finance costs increased by 8.0% YoY, respectively.
• Other income grew by 116.9% YoY.
• Net profit for the year declined by 9.8% YoY.
• Net profit margins during the year declined from 5.6% in FY23 to 5.6% in FY24.

KABRA EXTRUSION Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	6,700	6,078	-9.3%
Other income	Rs m	32	69	116.9%
Total Revenues	Rs m	6,732	6,147	-8.7%
Gross profit	Rs m	738	629	-14.8%
Depreciation	Rs m	136	156	14.7%
Interest	Rs m	91	98	8.0%
Profit before tax	Rs m	543	444	-18.3%
Tax	Rs m	168	105	-37.2%
Profit after tax	Rs m	375	338	-9.8%
Gross profit margin	%	11.0	10.3
Effective tax rate	%	30.9	23.7
Net profit margin	%	5.6	5.6

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

KABRA EXTRUSION Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 2 billion as compared to Rs 2 billion in FY23, thereby witnessing an increase of 8.0%.
• Long-term debt down at Rs 56 million as compared to Rs 112 million during FY23, a fall of 49.6%.
• Current assets rose 10% and stood at Rs 5 billion, while fixed assets rose 20% and stood at Rs 3 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 7 billion as against Rs 6 billion during FY23, thereby witnessing a growth of 13%.

KABRA EXTRUSION Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	3,835	4,519	17.8
Current Liabilities	Rs m	2,277	2,460	8.0
Long-term Debt	Rs m	112	56	-49.6
Total Liabilities	Rs m	6,348	7,162	12.8
Current assets	Rs m	4,250	4,655	9.5
Fixed Assets	Rs m	2,098	2,508	19.5
Total Assets	Rs m	6,348	7,162	12.8

KABRA EXTRUSION Cash Flow Statement Analysis

• KABRA EXTRUSION's cash flow from operating activities (CFO) during FY24 stood at Rs 323 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -518 million, an improvement of 79.9% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 240 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 45 million from the Rs 18 million net cash flows seen during FY23.

KABRA EXTRUSION 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	-37	323	-
Cash Flow from Investing Activities	Rs m	-288	-518	-
Cash Flow from Financing Activities	Rs m	343	240	-29.9%
Net Cash Flow	Rs m	18	45	151.8%

Current Valuations for KABRA EXTRUSION

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.7, an decline from the EPS of Rs 11.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 412.3, stands at 45.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 3.2 times, while the price to sales ratio stands at 2.4 times.
• The company's price to cash flow (P/CF) ratio stood at 29.5 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	199.5	173.8
TTM Earnings per share	Rs	11.2	9.7
Diluted earnings per share	Rs	10.7	9.7
Price to Cash Flow	x	33.1	29.5
TTM P/E ratio	x	44.8	45.7
Price / Book Value ratio	x	3.9	3.2
Market Cap	Rs m	15,127	14,600
Dividends per share (Unadj.)	Rs	3.5	3.5

Ratio Analysis for KABRA EXTRUSION

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.9x during FY24, from 1.9x 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 deteriorated and stood at 5.5x during FY24, from 7.0x 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 7.5% during FY24, from 9.8% 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 11.8% during FY24, from 16.0% 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 6.1% during FY24, from 7.3% 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	1.9	1.9
Debtors’ Days	Days	597	595
Interest coverage	x	7.0	5.5
Debt to equity ratio	x	0.0	0.0
Return on assets	%	7.3	6.1
Return on equity	%	9.8	7.5
Return on capital employed	%	16.0	11.8

To see how KABRA EXTRUSION has performed over the last 5 years, please visit here.

KABRA EXTRUSION Share Price Performance

Over the last one year, KABRA EXTRUSION share price has moved down from Rs 451.6 to Rs 412.3, registering a loss of Rs 39.3 or around 8.7%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 73,044.9 (up 0.4%). Over the last one year it has moved up from 40,725.8 to 73,044.9, a gain of 32,319 points (up 79.4%).

Overall, the S&P BSE SENSEX is up 24.3% over the year.

(To know more, check out historical annual results for KABRA EXTRUSION and quarterly results for KABRA EXTRUSION)