KILBURN ENGG 2023-24 Annual Report Analysis

Mon, 7 Oct

KILBURN ENGG 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.

KILBURN ENGG Income Statement Analysis

• Operating income during the year rose 48.7% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a fall and down at 23.2% in FY24 as against 27.3% in FY23.
• Depreciation charges increased by 30.5% and finance costs increased by 20.9% YoY, respectively.
• Other income declined by 96.7% YoY.
• Net profit for the year grew by 67.7% YoY.
• Net profit margins during the year grew from 13.6% in FY23 to 15.3% in FY24.

KILBURN ENGG Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	2,215	3,295	48.7%
Other income	Rs m	1,100	37	-96.7%
Total Revenues	Rs m	3,315	3,331	0.5%
Gross profit	Rs m	-604	766	NA
Depreciation	Rs m	27	35	30.5%
Interest	Rs m	82	99	20.9%
Profit before tax	Rs m	388	669	72.7%
Tax	Rs m	86	164	89.9%
Profit after tax	Rs m	301	505	67.7%
Gross profit margin	%	-27.3	23.2
Effective tax rate	%	22.3	24.5
Net profit margin	%	13.6	15.3

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

KILBURN ENGG Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 2 billion as compared to Rs 1 billion in FY23, thereby witnessing an increase of 67.7%.
• Long-term debt stood at Rs 555 million as compared to Rs 532 million during FY23, a growth of 4.5%.
• Current assets rose 65% and stood at Rs 3 billion, while fixed assets rose 159% and stood at Rs 2 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 5 billion as against Rs 3 billion during FY23, thereby witnessing a growth of 93%.

KILBURN ENGG Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,045	2,311	121.2
Current Liabilities	Rs m	1,036	1,738	67.7
Long-term Debt	Rs m	532	555	4.5
Total Liabilities	Rs m	2,576	4,980	93.4
Current assets	Rs m	1,787	2,940	64.5
Fixed Assets	Rs m	789	2,040	158.7
Total Assets	Rs m	2,576	4,980	93.4

KILBURN ENGG Cash Flow Statement Analysis

• KILBURN ENGG's cash flow from operating activities (CFO) during FY24 stood at Rs 260 million, an improvement of 32.0% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -999 million, an improvement of 1,122.9% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 739 million, an improvement of 571% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 0 million from the Rs -42 million net cash flows seen during FY23.

KILBURN ENGG 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	197	260	32.0%
Cash Flow from Investing Activities	Rs m	-82	-999	-
Cash Flow from Financing Activities	Rs m	-157	739	-
Net Cash Flow	Rs m	-42	0	-

Current Valuations for KILBURN ENGG

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 12.1, an improvement from the EPS of Rs 8.4 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 375.4, stands at 30.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 7.4 times, while the price to sales ratio stands at 4.8 times.
• The company's price to cash flow (P/CF) ratio stood at 16.5 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	61.9	78.8
TTM Earnings per share	Rs	8.4	12.1
Diluted earnings per share	Rs	6.7	11.2
Price to Cash Flow	x	13.0	16.5
TTM P/E ratio	x	14.2	30.9
Price / Book Value ratio	x	2.3	3.8
Market Cap	Rs m	2,407	8,894
Dividends per share (Unadj.)	Rs	1.0	2.0

Ratio Analysis for KILBURN ENGG

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.7x during FY24, from 1.7x 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 7.8x during FY24, from 5.8x 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 21.9% during FY24, from 28.8% 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 26.8% during FY24, from 29.8% 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 12.1% during FY24, from 14.9% 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	1.7	1.7
Debtors’ Days	Days	729	868
Interest coverage	x	5.8	7.8
Debt to equity ratio	x	0.5	0.2
Return on assets	%	14.9	12.1
Return on equity	%	28.8	21.9
Return on capital employed	%	29.8	26.8

To see how KILBURN ENGG has performed over the last 5 years, please visit here.

KILBURN ENGG Share Price Performance

Over the last one year, KILBURN ENGG share price has moved up from Rs 196.7 to Rs 375.4, registering a gain of Rs 178.7 or around 90.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 68,792.2 (down 2.1%). Over the last one year it has moved up from 48,205.1 to 68,792.2, a gain of 20,587 points (up 42.7%).

Overall, the S&P BSE SENSEX is up 23.7% over the year.

(To know more, check out historical annual results for KILBURN ENGG and quarterly results for KILBURN ENGG)