NAYSAA SECURITIES 2023-24 Annual Report Analysis

Thu, 21 Nov

NAYSAA SECURITIES 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.

NAYSAA SECURITIES Income Statement Analysis

• Operating income during the year rose 314.1% 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 2.7% in FY24 as against 13.0% in FY23.
• Depreciation charges decreased by 42.0% and finance costs decreased by 46.6% YoY, respectively.
• Other income grew by 575.2% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 15.2% in FY23 to 5.9% in FY24.

NAYSAA SECURITIES Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	129	535	314.1%
Other income	Rs m	3	22	575.2%
Total Revenues	Rs m	132	557	320.4%
Gross profit	Rs m	-17	14	NA
Depreciation	Rs m	1	1	-42.0%
Interest	Rs m	5	3	-46.6%
Profit before tax	Rs m	-19	33	NA
Tax	Rs m	0	1	180.6%
Profit after tax	Rs m	-20	32	NA
Gross profit margin	%	-13.0	2.7
Effective tax rate	%	-1.6	2.7
Net profit margin	%	-15.2	5.9

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NAYSAA SECURITIES Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 36 million as compared to Rs 87 million in FY23, thereby witnessing an decrease of -58.2%.
• Long-term debt stood at Rs 4 million as compared to Rs 0 million during FY23, a fall of 0.0%.
• Current assets rose 15% and stood at Rs 210 million, while fixed assets fell 27% and stood at Rs 3 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 213 million as against Rs 187 million during FY23, thereby witnessing a growth of 14%.

NAYSAA SECURITIES Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	100	132	31.6
Current Liabilities	Rs m	87	36	-58.2
Long-term Debt	Rs m	0	4	0.0
Total Liabilities	Rs m	187	213	14.0
Current assets	Rs m	183	210	14.8
Fixed Assets	Rs m	4	3	-27.2
Total Assets	Rs m	187	213	14.0

NAYSAA SECURITIES Cash Flow Statement Analysis

• NAYSAA SECURITIES's cash flow from operating activities (CFO) during FY24 stood at Rs 0 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 0 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 0 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 0 million from the Rs -8 million net cash flows seen during FY23.

NAYSAA SECURITIES 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	-167	0	-
Cash Flow from Investing Activities	Rs m	10	0	-100.0%
Cash Flow from Financing Activities	Rs m	148	0	-100.0%
Net Cash Flow	Rs m	-8	0	-

Current Valuations for NAYSAA SECURITIES

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 2.9, an improvement from the EPS of Rs -1.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 608.8, stands at 220.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 50.1 times, while the price to sales ratio stands at 12.4 times.
• The company's price to cash flow (P/CF) ratio stood at 66.5 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	11.9	49.3
TTM Earnings per share	Rs	-1.8	2.9
Diluted earnings per share	Rs	-1.8	2.9
Price to Cash Flow	x	-64.0	66.5
TTM P/E ratio	x	-60.8	220.4
Price / Book Value ratio	x	12.2	16.3
Market Cap	Rs m	1,227	2,151
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for NAYSAA SECURITIES

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 5.8x during FY24, from 2.1x 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 13.7x during FY24, from -3.0x 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 improved and stood at 24.1% during FY24, from -19.6% 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 25.8% during FY24, from -14.5% 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 16.1% during FY24, from -8.0% 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	2.1	5.8
Debtors’ Days	Days	40	118
Interest coverage	x	-3.0	13.7
Debt to equity ratio	x	0.0	0.0
Return on assets	%	-8.0	16.1
Return on equity	%	-19.6	24.1
Return on capital employed	%	-14.5	25.8

To see how NAYSAA SECURITIES has performed over the last 5 years, please visit here.

NAYSAA SECURITIES Share Price Performance

Over the last one year, NAYSAA SECURITIES share price has moved up from Rs 219.1 to Rs 608.8, registering a gain of Rs 389.7 or around 177.9%.

Overall, the S&P BSE SENSEX is up 17.5% over the year.

(To know more, check out historical annual results for NAYSAA SECURITIES and quarterly results for NAYSAA SECURITIES)