KALYANI INVESTMENT 2023-24 Annual Report Analysis

Fri, 23 Aug

KALYANI INVESTMENT 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.

KALYANI INVESTMENT Income Statement Analysis

• Operating income during the year rose 20.1% on a year-on-year (YoY) basis.
• The company's operating profit increased by 8.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 125.9% in FY24 as against 138.8% in FY23.
• Depreciation charges increased by 1.0% increased by 0.0% YoY, respectively.
• Other income grew by 17582.9% YoY.
• Net profit for the year grew by 20.6% YoY.
• Net profit margins during the year grew from 104.4% in FY23 to 104.9% in FY24.

KALYANI INVESTMENT Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	556	668	20.1%
Other income	Rs m	0	73	17,582.9%
Total Revenues	Rs m	557	741	33.0%
Gross profit	Rs m	772	841	8.9%
Depreciation	Rs m	1	1	1.0%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	772	913	18.3%
Tax	Rs m	191	212	11.1%
Profit after tax	Rs m	581	701	20.6%
Gross profit margin	%	138.8	125.9
Effective tax rate	%	24.7	23.2
Net profit margin	%	104.4	104.9

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KALYANI INVESTMENT Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 25 million as compared to Rs 20 million in FY23, thereby witnessing an increase of 27.2%.
• Current assets rose 44% and stood at Rs 2 billion, while fixed assets rose 46% and stood at Rs 86 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 88 billion as against Rs 60 billion during FY23, thereby witnessing a growth of 46%.

KALYANI INVESTMENT Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	58,513	83,045	41.9
Current Liabilities	Rs m	20	25	27.2
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	60,152	87,788	45.9
Current assets	Rs m	1,266	1,825	44.2
Fixed Assets	Rs m	58,886	85,962	46.0
Total Assets	Rs m	60,152	87,788	45.9

KALYANI INVESTMENT Cash Flow Statement Analysis

• KALYANI INVESTMENT's cash flow from operating activities (CFO) during FY24 stood at Rs -121 million, an improvement of 240.7% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 121 million, an improvement of 232.8% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 0 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -1 million from the Rs 1 million net cash flows seen during FY23.

KALYANI INVESTMENT 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	-36	-121	-
Cash Flow from Investing Activities	Rs m	36	121	232.8%
Cash Flow from Financing Activities	Rs m	0	0	0.0%
Net Cash Flow	Rs m	1	-1	-

Current Valuations for KALYANI INVESTMENT

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 160.3, an improvement from the EPS of Rs 132.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 6,040.0, stands at 53.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.3 times, while the price to sales ratio stands at 39.5 times.
• The company's price to cash flow (P/CF) ratio stood at 19.9 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	127.3	152.9
TTM Earnings per share	Rs	132.9	160.3
Diluted earnings per share	Rs	133.1	160.5
Price to Cash Flow	x	13.2	19.9
TTM P/E ratio	x	22.9	53.5
Price / Book Value ratio	x	0.1	0.2
Market Cap	Rs m	8,103	13,933
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for KALYANI INVESTMENT

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 72.9x during FY24, from 64.3x during FY23. The current ratio measures the company's ability to pay short-term and long-term obligations.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company declined and down at 0.8% during FY24, from 1.0% 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 1.1% during FY24, from 1.3% 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 declined and down at 0.8% during FY24, from 1.0% 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	64.3	72.9
Debtors’ Days	Days	0	0
Interest coverage	x	0.0	0.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	1.0	0.8
Return on equity	%	1.0	0.8
Return on capital employed	%	1.3	1.1

To see how KALYANI INVESTMENT has performed over the last 5 years, please visit here.

KALYANI INVESTMENT Share Price Performance

Over the last one year, KALYANI INVESTMENT share price has moved up from Rs 2,506.5 to Rs 6,040.0, registering a gain of Rs 3,533.5 or around 141.0%.

Overall, the S&P BSE SENSEX is up 24.4% over the year.

(To know more, check out historical annual results for KALYANI INVESTMENT and quarterly results for KALYANI INVESTMENT)