UJAAS ENERGY 2023-24 Annual Report Analysis

Mon, 29 Jul

UJAAS ENERGY 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.

UJAAS ENERGY Income Statement Analysis

• Operating income during the year fell 11.4% 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 36.2% in FY24 as against 9.1% in FY23.
• Depreciation charges increased by 4.6% and finance costs decreased by 35.6% YoY, respectively.
• Other income grew by 2232.4% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 59.9% in FY23 to 108.3% in FY24.

UJAAS ENERGY Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	302	267	-11.4%
Other income	Rs m	11	261	2,232.4%
Total Revenues	Rs m	313	529	69.0%
Gross profit	Rs m	28	-97	NA
Depreciation	Rs m	72	75	4.6%
Interest	Rs m	163	105	-35.6%
Profit before tax	Rs m	-196	-15	NA
Tax	Rs m	-15	-305	NA
Profit after tax	Rs m	-181	290	NA
Gross profit margin	%	9.1	-36.2
Effective tax rate	%	7.9	1,976.6
Net profit margin	%	-59.9	108.3

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UJAAS ENERGY Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 210 million as compared to Rs 2 billion in FY23, thereby witnessing an decrease of -91.0%.
• Current assets fell 58% and stood at Rs 570 million, while fixed assets fell 75% and stood at Rs 409 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 979 million as against Rs 3 billion during FY23, thereby witnessing a fall of 68%.

UJAAS ENERGY Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	497	891	79.3
Current Liabilities	Rs m	2,350	210	-91.0
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	3,030	979	-67.7
Current assets	Rs m	1,361	570	-58.1
Fixed Assets	Rs m	1,669	409	-75.5
Total Assets	Rs m	3,030	979	-67.7

UJAAS ENERGY Cash Flow Statement Analysis

• UJAAS ENERGY's cash flow from operating activities (CFO) during FY24 stood at Rs 1 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -41 million, an improvement of 11.9% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -1 billion on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -4 million from the Rs -48 million net cash flows seen during FY23.

UJAAS ENERGY 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	1,250	-
Cash Flow from Investing Activities	Rs m	-37	-41	-
Cash Flow from Financing Activities	Rs m	-7	-1,213	-
Net Cash Flow	Rs m	-48	-4	-

Current Valuations for UJAAS ENERGY

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 2.7, an improvement from the EPS of Rs -0.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 311.6, stands at 113.3 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 36.8 times, while the price to sales ratio stands at 122.8 times.
• The company's price to cash flow (P/CF) ratio stood at 0.7 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	1.5	2.5
TTM Earnings per share	Rs	-0.9	2.7
Diluted earnings per share	Rs	-1.7	2.7
Price to Cash Flow	x	-1.7	0.7
TTM P/E ratio	x	-1.0	113.3
Price / Book Value ratio	x	1.5	0.3
Market Cap	Rs m	748	243
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for UJAAS ENERGY

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.7x during FY24, from 0.6x 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 0.9x during FY24, from -0.2x 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 32.5% during FY24, from -36.3% 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 10.0% during FY24, from -6.7% 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 40.3% during FY24, from -0.6% 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	0.6	2.7
Debtors’ Days	Days	10,258	3,648
Interest coverage	x	-0.2	0.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	-0.6	40.3
Return on equity	%	-36.3	32.5
Return on capital employed	%	-6.7	10.0

To see how UJAAS ENERGY has performed over the last 5 years, please visit here.

UJAAS ENERGY Share Price Performance

Over the last one year, UJAAS ENERGY share price has moved up from Rs 2.1 to Rs 311.6, registering a gain of Rs 309.5 or around 14953.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 75,420.5 (up 2.8%). Over the last one year it has moved up from 43,473.8 to 75,420.5, a gain of 31,947 points (up 73.5%).

Overall, the S&P BSE SENSEX is up 22.6% over the year.

(To know more, check out historical annual results for UJAAS ENERGY and quarterly results for UJAAS ENERGY)