KILPEST IND 2023-24 Annual Report Analysis

Mon, 7 Oct

KILPEST 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.

KILPEST IND Income Statement Analysis

• Operating income during the year rose 19.9% on a year-on-year (YoY) basis.
• The company's operating profit increased by 13.3% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 44.5% in FY24 as against 47.1% in FY23.
• Depreciation charges increased by 22.5% and finance costs decreased by 37.4% YoY, respectively.
• Other income grew by 72.6% YoY.
• Net profit for the year grew by 23.8% YoY.
• Net profit margins during the year grew from 41.9% in FY23 to 43.3% in FY24.

KILPEST IND Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	618	741	19.9%
Other income	Rs m	73	125	72.6%
Total Revenues	Rs m	691	867	25.4%
Gross profit	Rs m	291	330	13.3%
Depreciation	Rs m	9	11	22.5%
Interest	Rs m	2	1	-37.4%
Profit before tax	Rs m	353	443	25.6%
Tax	Rs m	94	122	30.5%
Profit after tax	Rs m	259	321	23.8%
Gross profit margin	%	47.1	44.5
Effective tax rate	%	26.5	27.6
Net profit margin	%	41.9	43.3

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

KILPEST IND Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 175 million as compared to Rs 142 million in FY23, thereby witnessing an increase of 23.6%.
• Long-term debt down at Rs 8 million as compared to Rs 9 million during FY23, a fall of 13.7%.
• Current assets rose 8% and stood at Rs 1 billion, while fixed assets rose 25% and stood at Rs 1 billion 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 16%.

KILPEST IND Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,933	2,231	15.4
Current Liabilities	Rs m	142	175	23.6
Long-term Debt	Rs m	9	8	-13.7
Total Liabilities	Rs m	2,141	2,481	15.9
Current assets	Rs m	1,142	1,234	8.0
Fixed Assets	Rs m	998	1,247	24.9
Total Assets	Rs m	2,141	2,481	15.9

KILPEST IND Cash Flow Statement Analysis

• KILPEST IND's cash flow from operating activities (CFO) during FY24 stood at Rs 270 million, an improvement of 32.9% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -203 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -36 million, an improvement of 28% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 29 million from the Rs 303 million net cash flows seen during FY23.

KILPEST 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	203	270	32.9%
Cash Flow from Investing Activities	Rs m	147	-203	-
Cash Flow from Financing Activities	Rs m	-50	-36	-
Net Cash Flow	Rs m	303	29	-90.3%

Current Valuations for KILPEST IND

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 37.4, an improvement from the EPS of Rs 30.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,299.0, stands at 30.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 5.0 times, while the price to sales ratio stands at 15.0 times.
• The company's price to cash flow (P/CF) ratio stood at 17.0 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	72.1	86.4
TTM Earnings per share	Rs	30.2	37.4
Diluted earnings per share	Rs	30.2	37.4
Price to Cash Flow	x	13.3	17.0
TTM P/E ratio	x	13.8	30.8
Price / Book Value ratio	x	1.7	2.5
Market Cap	Rs m	3,352	5,639
Dividends per share (Unadj.)	Rs	2.5	3.0

Ratio Analysis for KILPEST IND

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 7.0x during FY24, from 8.1x 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 358.5x during FY24, from 179.3x 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 14.4% during FY24, from 13.4% 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 19.9% during FY24, from 18.3% 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 13.0% 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	8.1	7.0
Debtors’ Days	Days	200,341	178,481
Interest coverage	x	179.3	358.5
Debt to equity ratio	x	0.0	0.0
Return on assets	%	12.2	13.0
Return on equity	%	13.4	14.4
Return on capital employed	%	18.3	19.9

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

KILPEST IND Share Price Performance

Over the last one year, KILPEST IND share price has moved up from Rs 763.3 to Rs 1,299.0, registering a gain of Rs 535.7 or around 70.2%.

Overall, the S&P BSE SENSEX is up 23.5% over the year.

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