KHADIM INDIA 2023-24 Annual Report Analysis

Mon, 7 Oct

KHADIM INDIA 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.

KHADIM INDIA Income Statement Analysis

• Operating income during the year fell 6.9% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 1.4% YoY during the fiscal. Operating profit margins witnessed a fall and down at 12.0% in FY24 as against 11.3% in FY23.
• Depreciation charges increased by 5.4% and finance costs increased by 8.7% YoY, respectively.
• Other income declined by 48.4% YoY.
• Net profit for the year declined by 64.1% YoY.
• Net profit margins during the year declined from 2.6% in FY23 to 1.0% in FY24.

KHADIM INDIA Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	6,603	6,149	-6.9%
Other income	Rs m	175	90	-48.4%
Total Revenues	Rs m	6,777	6,239	-7.9%
Gross profit	Rs m	747	737	-1.4%
Depreciation	Rs m	384	404	5.4%
Interest	Rs m	313	340	8.7%
Profit before tax	Rs m	225	82	-63.5%
Tax	Rs m	51	19	-61.7%
Profit after tax	Rs m	175	63	-64.1%
Gross profit margin	%	11.3	12.0
Effective tax rate	%	22.5	23.6
Net profit margin	%	2.6	1.0

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KHADIM INDIA Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 3 billion as compared to Rs 3 billion in FY23, thereby witnessing an decrease of -5.4%.
• Long-term debt down at Rs 62 million as compared to Rs 118 million during FY23, a fall of 47.3%.
• Current assets fell 0% and stood at Rs 4 billion, while fixed assets fell 0% and stood at Rs 3 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 7 billion as against Rs 7 billion during FY23, thereby witnessing a fall of 0%.

KHADIM INDIA Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	2,242	2,364	5.5
Current Liabilities	Rs m	3,286	3,108	-5.4
Long-term Debt	Rs m	118	62	-47.3
Total Liabilities	Rs m	7,472	7,453	-0.3
Current assets	Rs m	4,444	4,436	-0.2
Fixed Assets	Rs m	3,028	3,017	-0.3
Total Assets	Rs m	7,472	7,453	-0.3

KHADIM INDIA Cash Flow Statement Analysis

• KHADIM INDIA 's cash flow from operating activities (CFO) during FY24 stood at Rs 515 million, an improvement of 30.7% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -95 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -505 million, an improvement of 20% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -86 million from the Rs -35 million net cash flows seen during FY23.

KHADIM INDIA 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	394	515	30.7%
Cash Flow from Investing Activities	Rs m	199	-95	-
Cash Flow from Financing Activities	Rs m	-628	-505	-
Net Cash Flow	Rs m	-35	-86	-

Current Valuations for KHADIM INDIA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.5, an decline from the EPS of Rs 9.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 362.1, stands at 125.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.8 times, while the price to sales ratio stands at 1.1 times.
• The company's price to cash flow (P/CF) ratio stood at 11.8 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	367.4	339.2
TTM Earnings per share	Rs	9.7	3.5
Diluted earnings per share	Rs	9.5	3.4
Price to Cash Flow	x	6.1	11.8
TTM P/E ratio	x	19.4	125.9
Price / Book Value ratio	x	2.0	2.3
Market Cap	Rs m	4,537	5,524
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for KHADIM INDIA

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.4x 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 1.2x during FY24, from 1.7x 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 2.7% during FY24, from 7.8% 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 17.4% during FY24, from 22.8% 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 5.4% during FY24, from 6.5% 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	1.4
Debtors’ Days	Days	104	110
Interest coverage	x	1.7	1.2
Debt to equity ratio	x	0.1	0.0
Return on assets	%	6.5	5.4
Return on equity	%	7.8	2.7
Return on capital employed	%	22.8	17.4

To see how KHADIM INDIA has performed over the last 5 years, please visit here.

KHADIM INDIA Share Price Performance

Over the last one year, KHADIM INDIA share price has moved up from Rs 320.9 to Rs 362.1, registering a gain of Rs 41.2 or around 12.8%.

Overall, the S&P BSE SENSEX is up 23.6% over the year.

(To know more, check out historical annual results for KHADIM INDIA and quarterly results for KHADIM INDIA )