LANDMARK PROPERTY 2022-23 Annual Report Analysis

Wed, 25 Oct

LANDMARK PROPERTY has announced its results for the year ended March 2023. Let us have a look at the detailed performance review of the company during FY22-23.

LANDMARK PROPERTY Income Statement Analysis

• Operating income during the year fell 41.6% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and stood at 1879.9% in FY23 as against 144.8% in FY22.
• Depreciation charges increased by 0.0% increased by 0.0% YoY, respectively.
• Other income declined by 70.8% YoY.
• Net profit for the year grew by NA YoY.
• Net profit margins during the year declined from 11.3% in FY22 to 1607.1% in FY23.

LANDMARK PROPERTY Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	7	4	-41.6%
Other income	Rs m	9	3	-70.8%
Total Revenues	Rs m	16	7	-58.1%
Gross profit	Rs m	-10	-77	NA
Depreciation	Rs m	0	0	0.0%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	-1	-74	NA
Tax	Rs m	0	-9	NA
Profit after tax	Rs m	-1	-65	NA
Gross profit margin	%	-144.8	-1,879.9
Effective tax rate	%	30.1	11.5
Net profit margin	%	-11.3	-1,607.1

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

LANDMARK PROPERTY Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 8 million as compared to Rs 6 million in FY22, thereby witnessing an increase of 35.8%.
• Current assets fell 16% and stood at Rs 172 million, while fixed assets fell 9% and stood at Rs 381 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 552 million as against Rs 625 million during FY22, thereby witnessing a fall of 12%.

LANDMARK PROPERTY Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	619	554	-10.6
Current Liabilities	Rs m	6	8	35.8
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	625	552	-11.7
Current assets	Rs m	205	172	-16.4
Fixed Assets	Rs m	420	381	-9.3
Total Assets	Rs m	625	552	-11.7

LANDMARK PROPERTY Cash Flow Statement Analysis

• LANDMARK PROPERTY's cash flow from operating activities (CFO) during FY23 stood at Rs 3 million, an improvement of 164.2% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -3 million, an improvement of 61.7% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 0 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 0 million from the Rs -1 million net cash flows seen during FY22.

LANDMARK PROPERTY Cash Flow Statement 2022-23

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-22	Mar-23
Cash Flow from Operating Activities	Rs m	1	3	164.2%
Cash Flow from Investing Activities	Rs m	-2	-3	-
Cash Flow from Financing Activities	Rs m	0	0	0.0%
Net Cash Flow	Rs m	-1	0	-

Current Valuations for LANDMARK PROPERTY

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -0.5, an decline from the EPS of Rs 0.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 7.4, stands at -15.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.8 times, while the price to sales ratio stands at 243.9 times.
• The company's price to cash flow (P/CF) ratio stood at -15.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Sales per share (Unadj.)	Rs	0.1	0.0
TTM Earnings per share	Rs	0.0	-0.5
Diluted earnings per share	Rs	0.0	-0.5
Price to Cash Flow	x	-1,257.0	-15.0
TTM P/E ratio	x	-1,198.9	-15.7
Price / Book Value ratio	x	2.1	1.8
Market Cap	Rs m	1,298	981
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for LANDMARK PROPERTY

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 21.6x during FY23, from 35.2x during FY22. 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 -7,391.0x during FY23, from 0.0x during FY22. 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 -11.8% during FY23, from -0.1% during FY23. 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 -13.3% during FY23, from -0.2% during FY22. 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 -11.8% during FY23, from -0.1% during FY22. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Current ratio	x	35.2	21.6
Debtors’ Days	Days	0	0
Interest coverage	x	0.0	-7,391.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	-0.1	-11.8
Return on equity	%	-0.1	-11.8
Return on capital employed	%	-0.2	-13.3

To see how LANDMARK PROPERTY has performed over the last 5 years, please visit here.

LANDMARK PROPERTY Share Price Performance

Over the last one year, LANDMARK PROPERTY share price has moved up from Rs 6.4 to Rs 7.4, registering a gain of Rs 1.1 or around 16.5%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 4,604.3 (down 0.8%). Over the last one year it has moved up from 3,387.7 to 4,604.3, a gain of 1,217 points (up 35.9%).

Overall, the S&P BSE SENSEX is up 8.2% over the year.

(To know more, check out historical annual results for LANDMARK PROPERTY and quarterly results for LANDMARK PROPERTY)