LLOYDS METALS 2023-24 Annual Report Analysis

Thu, 1 Aug

LLOYDS METALS 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.

LLOYDS METALS Income Statement Analysis

• Operating income during the year rose 92.2% 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 26.5% in FY24 as against 11.3% in FY23.
• Depreciation charges increased by 113.1% and finance costs decreased by 91.3% YoY, respectively.
• Other income declined by 28.9% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 8.5% in FY23 to 19.1% in FY24.

LLOYDS METALS Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	33,923	65,217	92.2%
Other income	Rs m	745	529	-28.9%
Total Revenues	Rs m	34,668	65,746	89.6%
Gross profit	Rs m	-3,841	17,283	NA
Depreciation	Rs m	230	490	113.1%
Interest	Rs m	650	57	-91.3%
Profit before tax	Rs m	-3,977	17,265	NA
Tax	Rs m	-1,091	4,836	NA
Profit after tax	Rs m	-2,885	12,429	NA
Gross profit margin	%	-11.3	26.5
Effective tax rate	%	27.4	28.0
Net profit margin	%	-8.5	19.1

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

LLOYDS METALS Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 10 billion as compared to Rs 5 billion in FY23, thereby witnessing an increase of 108.7%.
• Current assets rose 22% and stood at Rs 11 billion, while fixed assets rose 191% and stood at Rs 28 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 39 billion as against Rs 19 billion during FY23, thereby witnessing a growth of 108%.

LLOYDS METALS Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	15,217	27,733	82.3
Current Liabilities	Rs m	4,723	9,859	108.7
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	18,887	39,375	108.5
Current assets	Rs m	9,220	11,274	22.3
Fixed Assets	Rs m	9,667	28,101	190.7
Total Assets	Rs m	18,887	39,375	108.5

LLOYDS METALS Cash Flow Statement Analysis

• LLOYDS METALS's cash flow from operating activities (CFO) during FY24 stood at Rs 17 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -17 billion, an improvement of 181.8% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -6 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -250 million from the Rs 138 million net cash flows seen during FY23.

LLOYDS METALS 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	-5,164	17,010	-
Cash Flow from Investing Activities	Rs m	-6,123	-17,254	-
Cash Flow from Financing Activities	Rs m	11,425	-6	-
Net Cash Flow	Rs m	138	-250	-

Current Valuations for LLOYDS METALS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 24.6, an improvement from the EPS of Rs -5.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 792.0, stands at 29.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 14.9 times, while the price to sales ratio stands at 6.1 times.
• The company's price to cash flow (P/CF) ratio stood at 18.8 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	67.2	129.1
TTM Earnings per share	Rs	-5.7	24.6
Diluted earnings per share	Rs	-5.5	23.8
Price to Cash Flow	x	-56.0	18.8
TTM P/E ratio	x	-51.6	29.6
Price / Book Value ratio	x	7.5	8.8
Market Cap	Rs m	113,813	243,242
Dividends per share (Unadj.)	Rs	0.0	1.0

Ratio Analysis for LLOYDS METALS

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.1x during FY24, from 2.0x 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 305.0x during FY24, from -5.1x 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 44.8% during FY24, from -19.0% 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 improved and stood at 62.5% during FY24, from -21.9% 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 31.7% during FY24, from -11.8% 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	2.0	1.1
Debtors’ Days	Days	0	0
Interest coverage	x	-5.1	305.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	-11.8	31.7
Return on equity	%	-19.0	44.8
Return on capital employed	%	-21.9	62.5

To see how LLOYDS METALS has performed over the last 5 years, please visit here.

LLOYDS METALS Share Price Performance

Over the last one year, LLOYDS METALS share price has moved up from Rs 648.2 to Rs 792.0, registering a gain of Rs 143.8 or around 22.2%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 33,197.0 (up 1.3%). Over the last one year it has moved up from 22,347.9 to 33,197.0, a gain of 10,849 points (up 48.5%).

Overall, the S&P BSE SENSEX is up 23.1% over the year.

(To know more, check out historical annual results for LLOYDS METALS and quarterly results for LLOYDS METALS)