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KELTECH EN. 2023-24 Annual Report Analysis
Fri, 16 Aug

KELTECH EN. 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.

KELTECH EN. Income Statement Analysis

  • Operating income during the year fell 20.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 26.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 7.2% in FY24 as against 4.6% in FY23.
  • Depreciation charges increased by 11.7% and finance costs decreased by 16.5% YoY, respectively.
  • Other income grew by 101.3% YoY.
  • Net profit for the year grew by 62.8% YoY.
  • Net profit margins during the year grew from 2.1% in FY23 to 4.3% in FY24.

KELTECH EN. Income Statement 2023-24

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Net Sales Rs m 5,628 4,493 -20.2%
Other income Rs m 25 49 101.3%
Total Revenues Rs m 5,653 4,543 -19.6%
Gross profit Rs m 257 324 26.1%
Depreciation Rs m 61 68 11.7%
Interest Rs m 54 45 -16.5%
Profit before tax Rs m 167 260 56.1%
Tax Rs m 48 66 39.4%
Profit after tax Rs m 119 194 62.8%
Gross profit margin % 4.6 7.2
Effective tax rate % 28.5 25.5
Net profit margin % 2.1 4.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

KELTECH EN. Balance Sheet Analysis

  • The company's current liabilities during FY24 stood at Rs 1 billion as compared to Rs 1 billion in FY23, thereby witnessing an increase of 4.1%.
  • Long-term debt down at Rs 49 million as compared to Rs 95 million during FY23, a fall of 48.3%.
  • Current assets rose 11% and stood at Rs 1 billion, while fixed assets rose 4% and stood at Rs 777 million in FY24.
  • Overall, the total assets and liabilities for FY24 stood at Rs 2 billion as against Rs 2 billion during FY23, thereby witnessing a growth of 8%.

KELTECH EN. Balance Sheet as on March 2024

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Networth Rs m 812 996 22.6
 
Current Liabilities Rs m 1,054 1,098 4.1
Long-term Debt Rs m 95 49 -48.3
Total Liabilities Rs m 2,053 2,227 8.4
 
Current assets Rs m 1,306 1,450 11.0
Fixed Assets Rs m 747 777 4.0
Total Assets Rs m 2,053 2,227 8.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



KELTECH EN. Cash Flow Statement Analysis

  • KELTECH EN.'s cash flow from operating activities (CFO) during FY24 stood at Rs 512 million, an improvement of 179.8% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY24 stood at Rs -168 million, an improvement of 104.4% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY24 stood at Rs -113 million on a YoY basis.
  • Overall, net cash flows for the company during FY24 stood at Rs 231 million from the Rs 57 million net cash flows seen during FY23.

KELTECH EN. 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 183 512 179.8%
Cash Flow from Investing Activities Rs m -82 -168 -
Cash Flow from Financing Activities Rs m -44 -113 -
Net Cash Flow Rs m 57 231 304.4%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for KELTECH EN.

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 194.1, an improvement from the EPS of Rs 119.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 4,129.0, stands at 19.4 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.1 times, while the price to sales ratio stands at 0.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 8.0 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 5,628.5 4,493.4
TTM Earnings per share Rs 119.2 194.1
Diluted earnings per share Rs 119.2 194.1
Price to Cash Flow x 4.8 8.0
TTM P/E ratio x 7.2 19.4
Price / Book Value ratio x 0.9 2.1
Market Cap Rs m 768 2,096
Dividends per share (Unadj.) Rs 1.5 1.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for KELTECH EN.

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.3x during FY24, from 1.2x 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 6.8x during FY24, from 4.1x 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 improved and stood at 19.5% during FY24, from 14.7% 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 29.2% during FY24, from 24.3% 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 10.7% during FY24, from 8.4% 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 1.2 1.3
Debtors’ Days Days 401 391
Interest coverage x 4.1 6.8
Debt to equity ratio x 0.1 0.0
Return on assets % 8.4 10.7
Return on equity % 14.7 19.5
Return on capital employed % 24.3 29.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how KELTECH EN. has performed over the last 5 years, please visit here.

KELTECH EN. Share Price Performance

Over the last one year, KELTECH EN. share price has moved up from Rs 1,624.2 to Rs 4,129.0, registering a gain of Rs 2,504.8 or around 154.2%.

Overall, the S&P BSE SENSEX is up 21.9% over the year.

(To know more, check out historical annual results for KELTECH EN. and quarterly results for KELTECH EN.)

Annual Report FAQs

What is the current share price of KELTECH EN.?

KELTECH EN. currently trades at Rs 3,498.2 per share. You can check out the latest share price performance of KELTECH EN. here...

What was the revenue of KELTECH EN. in FY24? How does it compare to earlier years?

The revenues of KELTECH EN. stood at Rs 4,543 m in FY24, which was down -19.6% compared to Rs 5,653 m reported in FY23.

KELTECH EN.'s revenue has grown from Rs 2,163 m in FY20 to Rs 4,543 m in FY24.

Over the past 5 years, the revenue of KELTECH EN. has grown at a CAGR of 20.4%.

What was the net profit of KELTECH EN. in FY24? How does it compare to earlier years?

The net profit of KELTECH EN. stood at Rs 194 m in FY24, which was up 62.8% compared to Rs 119 m reported in FY23.

This compares to a net profit of Rs 66 m in FY22 and a net profit of Rs 19 m in FY21.

Over the past 5 years, KELTECH EN. net profit has grown at a CAGR of 42.3%.

What does the cash flow statement of KELTECH EN. reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of KELTECH EN. reveals:

  • Cash flow from operations increased in FY24 and stood at Rs 512 m as compared to Rs 183 m in FY23.
  • Cash flow from investments decreased in FY24 and stood at Rs -168 m as compared to Rs -82 m in FY23.
  • Cash flow from financial activity decreased in FY24 and stood at Rs -113 m as compared to Rs -44 m in FY23.

Here's the cash flow statement of KELTECH EN. for the past 5 years.

(Rs m)FY20FY21FY22FY23FY24
From Operations5577206183512
From Investments-33-68-231-82-168
From Financial Activity-24-2519-44-113
Net Cashflow-2-17-657231

What does the Key Ratio analysis of KELTECH EN. reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of KELTECH EN. reveals:

  • Operating profit margins witnessed a fall and down at 7.2% in FY24 as against 4.6% in FY23.
  • Net profit margins grew from 2.1% in FY23 to 4.3% in FY24.
  • Debt to Equity ratio for FY24 stood at 0.0 as compared to 0.1 in FY23.

Here's the ratio/financial analysis of KELTECH EN. for the past 5 years.

 FY20FY21FY22FY23FY24
Operating Profit Margin (%)6.44.74.24.67.2
Net Profit Margin (%)2.20.91.92.14.3
Debt to Equity Ratio (x)0.00.10.20.10.0

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