KOTYARK INDUSTRIES 2023-24 Annual Report Analysis

Tue, 5 Nov

KOTYARK INDUSTRIES 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.

KOTYARK INDUSTRIES Income Statement Analysis

• Operating income during the year rose 106.9% on a year-on-year (YoY) basis.
• The company's operating profit increased by 80.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 16.4% in FY24 as against 18.8% in FY23.
• Depreciation charges increased by 324.5% and finance costs increased by 98.4% YoY, respectively.
• Other income grew by 6080.0% YoY.
• Net profit for the year grew by 54.7% YoY.
• Net profit margins during the year declined from 11.0% in FY23 to 8.2% in FY24.

KOTYARK INDUSTRIES Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	1,310	2,710	106.9%
Other income	Rs m	0	9	6,080.0%
Total Revenues	Rs m	1,310	2,719	107.6%
Gross profit	Rs m	246	445	80.9%
Depreciation	Rs m	19	83	324.5%
Interest	Rs m	33	66	98.4%
Profit before tax	Rs m	194	306	58.1%
Tax	Rs m	50	84	67.8%
Profit after tax	Rs m	143	222	54.7%
Gross profit margin	%	18.8	16.4
Effective tax rate	%	25.9	27.5
Net profit margin	%	11.0	8.2

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KOTYARK INDUSTRIES Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 460 million as compared to Rs 216 million in FY23, thereby witnessing an increase of 113.5%.
• Long-term debt stood at Rs 305 million as compared to Rs 163 million during FY23, a growth of 87.5%.
• Current assets rose 132% and stood at Rs 1 billion, while fixed assets rose 51% and stood at Rs 845 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 2 billion as against Rs 1 billion during FY23, thereby witnessing a growth of 93%.

KOTYARK INDUSTRIES Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	758	1,441	90.1
Current Liabilities	Rs m	216	460	113.5
Long-term Debt	Rs m	163	305	87.5
Total Liabilities	Rs m	1,151	2,217	92.6
Current assets	Rs m	591	1,372	132.2
Fixed Assets	Rs m	560	845	50.9
Total Assets	Rs m	1,151	2,217	92.6

KOTYARK INDUSTRIES Cash Flow Statement Analysis

• KOTYARK INDUSTRIES's cash flow from operating activities (CFO) during FY24 stood at Rs -156 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -534 million, an improvement of 67.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 738 million, an improvement of 241% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 48 million from the Rs -4 million net cash flows seen during FY23.

KOTYARK INDUSTRIES 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	99	-156	-
Cash Flow from Investing Activities	Rs m	-320	-534	-
Cash Flow from Financing Activities	Rs m	217	738	240.7%
Net Cash Flow	Rs m	-4	48	-

Current Valuations for KOTYARK INDUSTRIES

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 21.6, an improvement from the EPS of Rs 16.4 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,088.0, stands at 50.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 7.8 times, while the price to sales ratio stands at 4.1 times.
• The company's price to cash flow (P/CF) ratio stood at 33.1 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	150.0	263.6
TTM Earnings per share	Rs	16.4	21.6
Diluted earnings per share	Rs	14.0	21.6
Price to Cash Flow	x	0.0	33.1
TTM P/E ratio	x	0.0	50.4
Price / Book Value ratio	x	0.0	7.0
Market Cap	Rs m	0	10,069
Dividends per share (Unadj.)	Rs	5.0	7.5

Ratio Analysis for KOTYARK INDUSTRIES

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 3.0x during FY24, from 2.7x 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 deteriorated and stood at 5.7x during FY24, from 6.9x 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 15.4% during FY24, from 18.9% 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 21.3% during FY24, from 24.6% 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 13.0% during FY24, from 15.3% 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	2.7	3.0
Debtors’ Days	Days	379	464
Interest coverage	x	6.9	5.7
Debt to equity ratio	x	0.2	0.2
Return on assets	%	15.3	13.0
Return on equity	%	18.9	15.4
Return on capital employed	%	24.6	21.3

To see how KOTYARK INDUSTRIES has performed over the last 5 years, please visit here.

KOTYARK INDUSTRIES Share Price Performance

Over the last one year, KOTYARK INDUSTRIES share price has moved down from Rs 0.0 to Rs 0.0, registering a loss of Rs 0.0 or around 0.0%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 27,297.6 (up 1.1%). Over the last one year it has moved up from 18,712.1 to 27,297.6, a gain of 8,585 points (up 45.9%).

Overall, the NIFTY 50 is up 0.9% over the year.

(To know more, check out historical annual results for KOTYARK INDUSTRIES and quarterly results for KOTYARK INDUSTRIES)