MAH. SCOOTERS 2023-24 Annual Report Analysis

Thu, 27 Jun

MAH. SCOOTERS 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.

MAH. SCOOTERS Income Statement Analysis

• Operating income during the year rose 2.9% on a year-on-year (YoY) basis.
• The company's operating profit increased by 5.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 91.3% in FY24 as against 89.5% in FY23.
• Depreciation charges increased by 2.5% increased by 0.0% YoY, respectively.
• Other income declined by 42.1% YoY.
• Net profit for the year grew by 2.1% YoY.
• Net profit margins during the year declined from 90.3% in FY23 to 89.5% in FY24.

MAH. SCOOTERS Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	2,164	2,227	2.9%
Other income	Rs m	14	8	-42.1%
Total Revenues	Rs m	2,178	2,235	2.7%
Gross profit	Rs m	1,937	2,034	5.0%
Depreciation	Rs m	20	21	2.5%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	1,931	2,022	4.7%
Tax	Rs m	-22	29	NA
Profit after tax	Rs m	1,953	1,993	2.1%
Gross profit margin	%	89.5	91.3
Effective tax rate	%	-1.1	1.4
Net profit margin	%	90.3	89.5

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MAH. SCOOTERS Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 78 million as compared to Rs 75 million in FY23, thereby witnessing an increase of 4.0%.
• Current assets rose 95% and stood at Rs 740 million, while fixed assets rose 44% and stood at Rs 293 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 294 billion as against Rs 204 billion during FY23, thereby witnessing a growth of 44%.

MAH. SCOOTERS Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	190,428	270,167	41.9
Current Liabilities	Rs m	75	78	4.0
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	203,983	293,939	44.1
Current assets	Rs m	380	740	94.7
Fixed Assets	Rs m	203,603	293,200	44.0
Total Assets	Rs m	203,983	293,939	44.1

MAH. SCOOTERS Cash Flow Statement Analysis

• MAH. SCOOTERS's cash flow from operating activities (CFO) during FY24 stood at Rs 2 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -116 million, an improvement of 233.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -2 billion, an improvement of 5% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 3 million from the Rs 1 million net cash flows seen during FY23.

MAH. SCOOTERS 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	2,088	2,060	-1.3%
Cash Flow from Investing Activities	Rs m	-35	-116	-
Cash Flow from Financing Activities	Rs m	-2,052	-1,941	-
Net Cash Flow	Rs m	1	3	142.9%

Current Valuations for MAH. SCOOTERS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 174.4, an improvement from the EPS of Rs 170.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 8,738.1, stands at 50.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.4 times, while the price to sales ratio stands at 44.8 times.
• The company's price to cash flow (P/CF) ratio stood at 36.2 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	189.3	194.9
TTM Earnings per share	Rs	170.9	174.4
Diluted earnings per share	Rs	170.9	174.4
Price to Cash Flow	x	24.4	36.2
TTM P/E ratio	x	24.7	50.1
Price / Book Value ratio	x	0.3	0.3
Market Cap	Rs m	51,242	72,880
Dividends per share (Unadj.)	Rs	160.0	170.0

Ratio Analysis for MAH. SCOOTERS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 9.5x during FY24, from 5.1x during FY23. The current ratio measures the company's ability to pay short-term and long-term obligations.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company declined and down at 0.7% during FY24, from 1.0% 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 declined and down at 0.7% during FY24, from 1.0% 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 declined and down at 0.7% during FY24, from 1.0% 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	5.1	9.5
Debtors’ Days	Days	111	29
Interest coverage	x	0.0	0.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	1.0	0.7
Return on equity	%	1.0	0.7
Return on capital employed	%	1.0	0.7

To see how MAH. SCOOTERS has performed over the last 5 years, please visit here.

MAH. SCOOTERS Share Price Performance

Over the last one year, MAH. SCOOTERS share price has moved up from Rs 5,497.7 to Rs 8,738.1, registering a gain of Rs 3,240.4 or around 58.9%.

Overall, the S&P BSE SENSEX is up 24.8% over the year.

(To know more, check out historical annual results for MAH. SCOOTERS and quarterly results for MAH. SCOOTERS)