AURUM PROPTECH 2023-24 Annual Report Analysis

Thu, 24 Oct

AURUM PROPTECH 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.

AURUM PROPTECH Income Statement Analysis

• Operating income during the year rose 68.7% 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 0.8% in FY24 as against 12.8% in FY23.
• Depreciation charges increased by 88.3% and finance costs increased by 204.8% YoY, respectively.
• Other income grew by 56.2% YoY.
• Net profit for the year grew by NA YoY.
• Net profit margins during the year grew from 31.8% in FY23 to 30.8% in FY24.

AURUM PROPTECH Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	1,269	2,141	68.7%
Other income	Rs m	122	190	56.2%
Total Revenues	Rs m	1,391	2,331	67.6%
Gross profit	Rs m	-162	17	NA
Depreciation	Rs m	385	725	88.3%
Interest	Rs m	85	260	204.8%
Profit before tax	Rs m	-511	-778	NA
Tax	Rs m	-108	-119	NA
Profit after tax	Rs m	-403	-660	NA
Gross profit margin	%	-12.8	0.8
Effective tax rate	%	21.1	15.2
Net profit margin	%	-31.8	-30.8

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AURUM PROPTECH Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 2 billion as compared to Rs 914 million in FY23, thereby witnessing an increase of 159.5%.
• Long-term debt stood at Rs 1 billion as compared to Rs 45 million during FY23, a growth of 2892.5%.
• Current assets fell 7% and stood at Rs 1 billion, while fixed assets rose 97% and stood at Rs 5 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 6 billion as against Rs 4 billion during FY23, thereby witnessing a growth of 65%.

AURUM PROPTECH Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	2,191	1,696	-22.6
Current Liabilities	Rs m	914	2,372	159.5
Long-term Debt	Rs m	45	1,356	2,892.5
Total Liabilities	Rs m	3,752	6,210	65.5
Current assets	Rs m	1,139	1,054	-7.4
Fixed Assets	Rs m	2,613	5,155	97.3
Total Assets	Rs m	3,752	6,210	65.5

AURUM PROPTECH Cash Flow Statement Analysis

• AURUM PROPTECH's cash flow from operating activities (CFO) during FY24 stood at Rs 202 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -2 billion, an improvement of 264.7% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 1 billion, an improvement of 52% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -130 million from the Rs -138 million net cash flows seen during FY23.

AURUM PROPTECH 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	-501	202	-
Cash Flow from Investing Activities	Rs m	-455	-1,658	-
Cash Flow from Financing Activities	Rs m	800	1,219	52.4%
Net Cash Flow	Rs m	-138	-130	-

Current Valuations for AURUM PROPTECH

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -9.2, an decline from the EPS of Rs -5.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 193.5, stands at -28.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 8.2 times, while the price to sales ratio stands at 6.5 times.
• The company's price to cash flow (P/CF) ratio stood at 159.4 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	17.7	29.7
TTM Earnings per share	Rs	-5.6	-9.2
Diluted earnings per share	Rs	-5.6	-9.1
Price to Cash Flow	x	-412.9	159.4
TTM P/E ratio	x	-19.0	-28.6
Price / Book Value ratio	x	3.7	6.2
Market Cap	Rs m	8,140	10,458
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for AURUM PROPTECH

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 0.4x during FY24, from 1.2x 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 -2.0x during FY24, from -5.0x 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 -38.9% during FY24, from -18.4% 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 -17.0% during FY24, from -19.0% 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 -6.4% during FY24, from -8.5% 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	1.2	0.4
Debtors’ Days	Days	534	396
Interest coverage	x	-5.0	-2.0
Debt to equity ratio	x	0.0	0.8
Return on assets	%	-8.5	-6.4
Return on equity	%	-18.4	-38.9
Return on capital employed	%	-19.0	-17.0

To see how AURUM PROPTECH has performed over the last 5 years, please visit here.

AURUM PROPTECH Share Price Performance

Over the last one year, AURUM PROPTECH share price has moved up from Rs 123.9 to Rs 193.5, registering a gain of Rs 69.7 or around 56.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 42,002.7 (down 0.5%). Over the last one year it has moved up from 31,255.0 to 42,002.7, a gain of 10,748 points (up 34.4%).

Overall, the S&P BSE SENSEX is up 24.1% over the year.

(To know more, check out historical annual results for AURUM PROPTECH and quarterly results for AURUM PROPTECH)