KAYCEE IND 2023-24 Annual Report Analysis

Thu, 1 Aug

KAYCEE IND 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.

KAYCEE IND Income Statement Analysis

• Operating income during the year rose 16.8% on a year-on-year (YoY) basis.
• The company's operating profit increased by 50.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.9% in FY24 as against 10.8% in FY23.
• Depreciation charges increased by 114.3% and finance costs increased by 566.1% YoY, respectively.
• Other income declined by 25.9% YoY.
• Net profit for the year grew by 28.6% YoY.
• Net profit margins during the year grew from 8.4% in FY23 to 9.2% in FY24.

KAYCEE IND Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	418	488	16.8%
Other income	Rs m	9	6	-25.9%
Total Revenues	Rs m	426	494	16.0%
Gross profit	Rs m	45	68	50.9%
Depreciation	Rs m	5	11	114.3%
Interest	Rs m	1	4	566.1%
Profit before tax	Rs m	48	59	24.1%
Tax	Rs m	13	15	12.0%
Profit after tax	Rs m	35	45	28.6%
Gross profit margin	%	10.8	13.9
Effective tax rate	%	27.1	24.4
Net profit margin	%	8.4	9.2

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

KAYCEE IND Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 68 million as compared to Rs 48 million in FY23, thereby witnessing an increase of 42.7%.
• Current assets rose 22% and stood at Rs 262 million, while fixed assets rose 9% and stood at Rs 85 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 347 million as against Rs 292 million during FY23, thereby witnessing a growth of 19%.

KAYCEE IND Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	198	238	20.5
Current Liabilities	Rs m	48	68	42.7
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	292	347	19.0
Current assets	Rs m	214	262	22.5
Fixed Assets	Rs m	78	85	9.4
Total Assets	Rs m	292	347	19.0

KAYCEE IND Cash Flow Statement Analysis

• KAYCEE IND's cash flow from operating activities (CFO) during FY24 stood at Rs 62 million, an improvement of 250.5% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -43 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -12 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 7 million from the Rs 6 million net cash flows seen during FY23.

KAYCEE IND 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	18	62	250.5%
Cash Flow from Investing Activities	Rs m	-53	-43	-
Cash Flow from Financing Activities	Rs m	42	-12	-
Net Cash Flow	Rs m	6	7	6.3%

Current Valuations for KAYCEE IND

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 749.2, an improvement from the EPS of Rs 582.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,949.8, stands at 137.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 26.0 times, while the price to sales ratio stands at 0.2 times.
• The company's price to cash flow (P/CF) ratio stood at 0.3 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	6,962.7	8,134.2
TTM Earnings per share	Rs	582.3	749.2
Diluted earnings per share	Rs	11.0	14.2
Price to Cash Flow	x	10.3	0.3
TTM P/E ratio	x	11.8	137.6
Price / Book Value ratio	x	2.1	0.1
Market Cap	Rs m	415	18
Dividends per share (Unadj.)	Rs	6.0	2.0

Ratio Analysis for KAYCEE IND

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 3.9x during FY24, from 4.5x 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 deteriorated and stood at 15.4x during FY24, from 78.3x 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 improved and stood at 18.9% during FY24, from 17.7% 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 26.7% during FY24, from 24.5% 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 14.1% during FY24, from 12.2% 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	4.5	3.9
Debtors’ Days	Days	1,104	1,045
Interest coverage	x	78.3	15.4
Debt to equity ratio	x	0.0	0.0
Return on assets	%	12.2	14.1
Return on equity	%	17.7	18.9
Return on capital employed	%	24.5	26.7

To see how KAYCEE IND has performed over the last 5 years, please visit here.

KAYCEE IND Share Price Performance

Over the last one year, KAYCEE IND share price has moved up from Rs 239.0 to Rs 1,949.8, registering a gain of Rs 1,710.8 or around 716.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 75,643.9 (up 0.0%). Over the last one year it has moved up from 43,869.5 to 75,643.9, a gain of 31,774 points (up 72.4%).

Overall, the S&P BSE SENSEX is up 23.1% over the year.

(To know more, check out historical annual results for KAYCEE IND and quarterly results for KAYCEE IND)