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KRONOX LAB SCIENCES LTD. 2023-24 Annual Report Analysis

Mon, 12 Aug

KRONOX LAB SCIENCES LTD. 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.

KRONOX LAB SCIENCES LTD. Income Statement Analysis

• Operating income during the year fell 6.0% on a year-on-year (YoY) basis.
• The company's operating profit increased by 30.4% YoY during the fiscal. Operating profit margins witnessed a fall and down at 31.5% in FY24 as against 22.7% in FY23.
• Depreciation charges decreased by 13.9% and finance costs decreased by 100.0% YoY, respectively.
• Other income declined by 17.7% YoY.
• Net profit for the year grew by 30.2% YoY.
• Net profit margins during the year grew from 17.2% in FY23 to 23.8% in FY24.

KRONOX LAB SCIENCES LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	956	899	-6.0%
Other income	Rs m	19	16	-17.7%
Total Revenues	Rs m	975	914	-6.2%
Gross profit	Rs m	217	283	30.4%
Depreciation	Rs m	15	13	-13.9%
Interest	Rs m	1	0	-100.0%
Profit before tax	Rs m	220	286	29.8%
Tax	Rs m	56	73	28.7%
Profit after tax	Rs m	164	214	30.2%
Gross profit margin	%	22.7	31.5
Effective tax rate	%	25.6	25.4
Net profit margin	%	17.2	23.8

For Investors: Our Big Prediction

KRONOX LAB SCIENCES LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 77 million as compared to Rs 88 million in FY23, thereby witnessing an decrease of -12.8%.
• Current assets rose 36% and stood at Rs 466 million, while fixed assets rose 38% and stood at Rs 270 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 736 million as against Rs 537 million during FY23, thereby witnessing a growth of 37%.

KRONOX LAB SCIENCES LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	448	663	48.2
Current Liabilities	Rs m	88	77	-12.8
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	537	736	37.1
Current assets	Rs m	342	466	36.3
Fixed Assets	Rs m	195	270	38.5
Total Assets	Rs m	537	736	37.1

KRONOX LAB SCIENCES LTD. Cash Flow Statement Analysis

• KRONOX LAB SCIENCES LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs 174 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -173 million, an improvement of 162.5% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 0 million, an improvement of 100% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 1 million from the Rs -3 million net cash flows seen during FY23.

KRONOX LAB SCIENCES LTD. 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	174	-11.4%
Cash Flow from Investing Activities	Rs m	-66	-173	-
Cash Flow from Financing Activities	Rs m	-134	0	-
Net Cash Flow	Rs m	-3	1	-

Current Valuations for KRONOX LAB SCIENCES LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 5.8, an improvement from the EPS of Rs 4.4 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 145.0, stands at 25.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 8.1 times, while the price to sales ratio stands at 6.0 times.
• The company's price to cash flow (P/CF) ratio stood at 23.8 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	25.8	24.2
TTM Earnings per share	Rs	4.4	5.8
Diluted earnings per share	Rs	4.4	5.8
Price to Cash Flow	x	0.0	23.8
TTM P/E ratio	x	0.0	25.2
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	5,380
Dividends per share (Unadj.)	Rs	0.0	0.5

Ratio Analysis for KRONOX LAB SCIENCES LTD.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 6.1x during FY24, from 3.9x 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 32.2% during FY24, from 36.7% 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 43.1% during FY24, from 49.5% 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 29.0% during FY24, from 30.7% 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	3.9	6.1
Debtors’ Days	Days	708	717
Interest coverage	x	238.0	0.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	30.7	29.0
Return on equity	%	36.7	32.2
Return on capital employed	%	49.5	43.1

To see how KRONOX LAB SCIENCES LTD. has performed over the last 5 years, please visit here.

KRONOX LAB SCIENCES LTD. Share Price Performance

Over the last one year, KRONOX LAB SCIENCES LTD. share price has moved up from Rs 0.0 to Rs 145.0, registering a gain of Rs 145.0 or around 0.0%.

Overall, the S&P BSE SENSEX is up 21.4% over the year.

(To know more, check out historical annual results for KRONOX LAB SCIENCES LTD. and quarterly results for KRONOX LAB SCIENCES LTD.)