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MAN INFRACONST. 2023-24 Annual Report Analysis
Tue, 16 Jul

MAN INFRACONST. 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.

MAN INFRACONST. Income Statement Analysis

  • Operating income during the year fell 33.2% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 17.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 27.4% in FY24 as against 22.2% in FY23.
  • Depreciation charges decreased by 11.4% and finance costs decreased by 39.9% YoY, respectively.
  • Other income grew by 101.9% YoY.
  • Net profit for the year grew by 5.0% YoY.
  • Net profit margins during the year grew from 15.3% in FY23 to 24.0% in FY24.

MAN INFRACONST. Income Statement 2023-24

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Net Sales Rs m 18,903 12,635 -33.2%
Other income Rs m 479 968 101.9%
Total Revenues Rs m 19,383 13,602 -29.8%
Gross profit Rs m 4,188 3,456 -17.5%
Depreciation Rs m 112 100 -11.4%
Interest Rs m 585 352 -39.9%
Profit before tax Rs m 3,970 3,972 0.1%
Tax Rs m 1,081 939 -13.1%
Profit after tax Rs m 2,890 3,033 5.0%
Gross profit margin % 22.2 27.4
Effective tax rate % 27.2 23.6
Net profit margin % 15.3 24.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

MAN INFRACONST. Balance Sheet Analysis

  • The company's current liabilities during FY24 down at Rs 6 billion as compared to Rs 6 billion in FY23, thereby witnessing an decrease of -9.3%.
  • Long-term debt stood at Rs 634 million as compared to Rs 123 million during FY23, a growth of 415.4%.
  • Current assets rose 35% and stood at Rs 19 billion, while fixed assets fell 26% and stood at Rs 3 billion in FY24.
  • Overall, the total assets and liabilities for FY24 stood at Rs 21 billion as against Rs 17 billion during FY23, thereby witnessing a growth of 23%.

MAN INFRACONST. Balance Sheet as on March 2024

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Networth Rs m 10,894 13,276 21.9
 
Current Liabilities Rs m 6,078 5,514 -9.3
Long-term Debt Rs m 123 634 415.4
Total Liabilities Rs m 17,392 21,385 23.0
 
Current assets Rs m 13,967 18,836 34.9
Fixed Assets Rs m 3,424 2,523 -26.3
Total Assets Rs m 17,392 21,385 23.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



MAN INFRACONST. Cash Flow Statement Analysis

  • MAN INFRACONST.'s cash flow from operating activities (CFO) during FY24 stood at Rs 6 billion, an improvement of 27.8% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY24 stood at Rs -4 billion, an improvement of 290.3% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY24 stood at Rs -279 million, an improvement of 94% on a YoY basis.
  • Overall, net cash flows for the company during FY24 stood at Rs 1 billion from the Rs -1 billion net cash flows seen during FY23.

MAN INFRACONST. 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 4,480 5,726 27.8%
Cash Flow from Investing Activities Rs m -1,016 -3,966 -
Cash Flow from Financing Activities Rs m -4,578 -279 -
Net Cash Flow Rs m -1,114 1,479 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for MAN INFRACONST.

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 8.2, an improvement from the EPS of Rs 7.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 196.1, stands at 25.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 5.5 times, while the price to sales ratio stands at 5.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 18.9 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 50.9 34.0
TTM Earnings per share Rs 7.8 8.2
Diluted earnings per share Rs 7.8 8.2
Price to Cash Flow x 8.4 18.9
TTM P/E ratio x 8.9 25.6
Price / Book Value ratio x 3.2 4.5
Market Cap Rs m 35,389 59,103
Dividends per share (Unadj.) Rs 0.9 1.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for MAN INFRACONST.

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 3.4x during FY24, from 2.3x 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 12.3x during FY24, from 7.8x 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 22.8% during FY24, from 26.5% 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 31.1% during FY24, from 41.3% 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 15.8% during FY24, from 20.0% 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 2.3 3.4
Debtors’ Days Days 642 416
Interest coverage x 7.8 12.3
Debt to equity ratio x 0.0 0.0
Return on assets % 20.0 15.8
Return on equity % 26.5 22.8
Return on capital employed % 41.3 31.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how MAN INFRACONST. has performed over the last 5 years, please visit here.

MAN INFRACONST. Share Price Performance

Over the last one year, MAN INFRACONST. share price has moved up from Rs 111.9 to Rs 196.1, registering a gain of Rs 84.3 or around 75.3%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 8,806.7 (up 1.7%). Over the last one year it has moved up from 4,322.8 to 8,806.7, a gain of 4,484 points (up 103.7%).

Overall, the S&P BSE SENSEX is up 23.4% over the year.

(To know more, check out historical annual results for MAN INFRACONST. and quarterly results for MAN INFRACONST.)

Annual Report FAQs

What is the current share price of MAN INFRACONST.?

MAN INFRACONST. currently trades at Rs 177.9 per share. You can check out the latest share price performance of MAN INFRACONST. here...

What was the revenue of MAN INFRACONST. in FY24? How does it compare to earlier years?

The revenues of MAN INFRACONST. stood at Rs 13,602 m in FY24, which was down -29.8% compared to Rs 19,383 m reported in FY23.

MAN INFRACONST.'s revenue has grown from Rs 2,942 m in FY20 to Rs 13,602 m in FY24.

Over the past 5 years, the revenue of MAN INFRACONST. has grown at a CAGR of 46.6%.

What was the net profit of MAN INFRACONST. in FY24? How does it compare to earlier years?

The net profit of MAN INFRACONST. stood at Rs 3,033 m in FY24, which was up 5.0% compared to Rs 2,890 m reported in FY23.

This compares to a net profit of Rs 2,985 m in FY22 and a net profit of Rs 333 m in FY21.

Over the past 5 years, MAN INFRACONST. net profit has grown at a CAGR of NaN%.

What does the cash flow statement of MAN INFRACONST. reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of MAN INFRACONST. reveals:

  • Cash flow from operations increased in FY24 and stood at Rs 5,726 m as compared to Rs 4,480 m in FY23.
  • Cash flow from investments decreased in FY24 and stood at Rs -3,966 m as compared to Rs -1,016 m in FY23.
  • Cash flow from financial activity increased in FY24 and stood at Rs -279 m as compared to Rs -4,578 m in FY23.

Here's the cash flow statement of MAN INFRACONST. for the past 5 years.

(Rs m)FY20FY21FY22FY23FY24
From Operations8817831,8684,4805,726
From Investments841-842275-1,016-3,966
From Financial Activity-1,371200-913-4,578-279
Net Cashflow3391411,231-1,1141,479

What does the Key Ratio analysis of MAN INFRACONST. reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of MAN INFRACONST. reveals:

  • Operating profit margins witnessed a fall and down at 27.4% in FY24 as against 22.2% in FY23.
  • Net profit margins grew from 15.3% in FY23 to 24.0% in FY24.
  • Debt to Equity ratio for FY24 stood at 0.0 as compared to 0.0 in FY23.

Here's the ratio/financial analysis of MAN INFRACONST. for the past 5 years.

 FY20FY21FY22FY23FY24
Operating Profit Margin (%)1.022.925.922.227.4
Net Profit Margin (%)-4.67.831.015.324.0
Debt to Equity Ratio (x)0.50.50.40.00.0

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