SAI SILKS (KALAMANDIR) 2023-24 Annual Report Analysis

Wed, 11 Sep

SAI SILKS (KALAMANDIR) 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.

SAI SILKS (KALAMANDIR) Income Statement Analysis

• Operating income during the year rose 1.6% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 0.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 16.0% in FY24 as against 16.2% in FY23.
• Depreciation charges increased by 16.8% and finance costs increased by 14.7% YoY, respectively.
• Other income grew by 207.7% YoY.
• Net profit for the year grew by 3.4% YoY.
• Net profit margins during the year grew from 7.2% in FY23 to 7.3% in FY24.

SAI SILKS (KALAMANDIR) Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	13,515	13,736	1.6%
Other income	Rs m	76	235	207.7%
Total Revenues	Rs m	13,591	13,971	2.8%
Gross profit	Rs m	2,194	2,192	-0.1%
Depreciation	Rs m	410	479	16.8%
Interest	Rs m	524	601	14.7%
Profit before tax	Rs m	1,336	1,347	0.8%
Tax	Rs m	360	338	-6.0%
Profit after tax	Rs m	976	1,009	3.4%
Gross profit margin	%	16.2	16.0
Effective tax rate	%	26.9	25.1
Net profit margin	%	7.2	7.3

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SAI SILKS (KALAMANDIR) Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 3 billion as compared to Rs 6 billion in FY23, thereby witnessing an decrease of -39.7%.
• Long-term debt down at Rs 226 million as compared to Rs 654 million during FY23, a fall of 65.4%.
• Current assets rose 46% and stood at Rs 12 billion, while fixed assets rose 12% and stood at Rs 5 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 16 billion as against Rs 12 billion during FY23, thereby witnessing a growth of 35%.

SAI SILKS (KALAMANDIR) Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	3,973	10,629	167.5
Current Liabilities	Rs m	5,725	3,451	-39.7
Long-term Debt	Rs m	654	226	-65.4
Total Liabilities	Rs m	12,205	16,416	34.5
Current assets	Rs m	8,047	11,751	46.0
Fixed Assets	Rs m	4,157	4,666	12.2
Total Assets	Rs m	12,205	16,416	34.5

SAI SILKS (KALAMANDIR) Cash Flow Statement Analysis

• SAI SILKS (KALAMANDIR)'s cash flow from operating activities (CFO) during FY24 stood at Rs -215 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -3 billion, an improvement of 451.8% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 4 billion, an improvement of 2,537% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 397 million from the Rs -40 million net cash flows seen during FY23.

SAI SILKS (KALAMANDIR) 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	412	-215	-
Cash Flow from Investing Activities	Rs m	-601	-3,318	-
Cash Flow from Financing Activities	Rs m	149	3,930	2,537.2%
Net Cash Flow	Rs m	-40	397	-

Current Valuations for SAI SILKS (KALAMANDIR)

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 6.8, an decline from the EPS of Rs 8.1 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 175.0, stands at 31.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.5 times, while the price to sales ratio stands at 1.9 times.
• The company's price to cash flow (P/CF) ratio stood at 23.8 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	112.3	93.2
TTM Earnings per share	Rs	8.1	6.8
Diluted earnings per share	Rs	6.4	6.6
Price to Cash Flow	x	0.0	23.8
TTM P/E ratio	x	0.0	31.1
Price / Book Value ratio	x	0.0	3.3
Market Cap	Rs m	0	35,349
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for SAI SILKS (KALAMANDIR)

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 3.4x during FY24, from 1.4x 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 3.2x during FY24, from 3.5x 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 9.5% 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 17.9% during FY24, from 40.2% 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 9.8% during FY24, from 12.3% 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	1.4	3.4
Debtors’ Days	Days	0	0
Interest coverage	x	3.5	3.2
Debt to equity ratio	x	0.2	0.0
Return on assets	%	12.3	9.8
Return on equity	%	24.6	9.5
Return on capital employed	%	40.2	17.9

To see how SAI SILKS (KALAMANDIR) has performed over the last 5 years, please visit here.

SAI SILKS (KALAMANDIR) Share Price Performance

Over the last one year, SAI SILKS (KALAMANDIR) share price has moved up from Rs 0.0 to Rs 175.0, registering a gain of Rs 175.0 or around 0.0%.

Overall, the S&P BSE SENSEX is up 21.4% over the year.

(To know more, check out historical annual results for SAI SILKS (KALAMANDIR) and quarterly results for SAI SILKS (KALAMANDIR))