Markets will remain closed on 20^th November, 2024 on account of Assembly Elections in Maharashtra.

NDR AUTO COMPONENTS 2023-24 Annual Report Analysis

Wed, 3 Jul

NDR AUTO COMPONENTS 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.

NDR AUTO COMPONENTS Income Statement Analysis

• Operating income during the year rose 53.2% on a year-on-year (YoY) basis.
• The company's operating profit increased by 61.4% YoY during the fiscal. Operating profit margins witnessed a fall and down at 10.6% in FY24 as against 10.0% in FY23.
• Depreciation charges increased by 70.5% and finance costs increased by 60.0% YoY, respectively.
• Other income declined by 43.2% YoY.
• Net profit for the year grew by 37.7% YoY.
• Net profit margins during the year declined from 7.2% in FY23 to 6.4% in FY24.

NDR AUTO COMPONENTS Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	3,928	6,016	53.2%
Other income	Rs m	63	36	-43.2%
Total Revenues	Rs m	3,991	6,052	51.6%
Gross profit	Rs m	394	635	61.4%
Depreciation	Rs m	87	148	70.5%
Interest	Rs m	18	29	60.0%
Profit before tax	Rs m	352	495	40.5%
Tax	Rs m	71	107	51.4%
Profit after tax	Rs m	281	387	37.7%
Gross profit margin	%	10.0	10.6
Effective tax rate	%	20.2	21.7
Net profit margin	%	7.2	6.4

For Investors: Our Big Prediction

NDR AUTO COMPONENTS Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 1 billion as compared to Rs 944 million in FY23, thereby witnessing an increase of 22.0%.
• Current assets rose 29% and stood at Rs 2 billion, while fixed assets rose 7% and stood at Rs 2 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 4 billion as against Rs 3 billion during FY23, thereby witnessing a growth of 15%.

NDR AUTO COMPONENTS Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	2,179	2,535	16.3
Current Liabilities	Rs m	944	1,152	22.0
Long-term Debt	Rs m	17	0	-100.0
Total Liabilities	Rs m	3,430	3,959	15.4
Current assets	Rs m	1,311	1,691	29.0
Fixed Assets	Rs m	2,119	2,267	7.0
Total Assets	Rs m	3,430	3,959	15.4

NDR AUTO COMPONENTS Cash Flow Statement Analysis

• NDR AUTO COMPONENTS's cash flow from operating activities (CFO) during FY24 stood at Rs 274 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -62 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -83 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 128 million from the Rs 82 million net cash flows seen during FY23.

NDR AUTO COMPONENTS 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	482	274	-43.1%
Cash Flow from Investing Activities	Rs m	-346	-62	-
Cash Flow from Financing Activities	Rs m	-55	-83	-
Net Cash Flow	Rs m	82	128	57.2%

Current Valuations for NDR AUTO COMPONENTS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 32.6, an decline from the EPS of Rs 47.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 921.8, stands at 34.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 4.3 times, while the price to sales ratio stands at 1.8 times.
• The company's price to cash flow (P/CF) ratio stood at 14.0 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	660.1	505.9
TTM Earnings per share	Rs	47.2	32.6
Diluted earnings per share	Rs	23.6	32.6
Price to Cash Flow	x	9.0	14.0
TTM P/E ratio	x	16.1	34.9
Price / Book Value ratio	x	1.4	3.0
Market Cap	Rs m	3,022	7,508
Dividends per share (Unadj.)	Rs	5.0	3.8

Ratio Analysis for NDR AUTO COMPONENTS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.5x during FY24, from 1.4x 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 deteriorated and stood at 18.3x during FY24, from 20.7x 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 15.3% during FY24, from 12.9% 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 20.6% during FY24, from 16.8% 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 10.5% during FY24, from 8.7% 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	1.4	1.5
Debtors’ Days	Days	289	529
Interest coverage	x	20.7	18.3
Debt to equity ratio	x	0.0	0.0
Return on assets	%	8.7	10.5
Return on equity	%	12.9	15.3
Return on capital employed	%	16.8	20.6

To see how NDR AUTO COMPONENTS has performed over the last 5 years, please visit here.

NDR AUTO COMPONENTS Share Price Performance

Over the last one year, NDR AUTO COMPONENTS share price has moved up from Rs 410.6 to Rs 921.8, registering a gain of Rs 511.2 or around 124.5%.

Overall, the S&P BSE SENSEX is up 22.7% over the year.

(To know more, check out historical annual results for NDR AUTO COMPONENTS and quarterly results for NDR AUTO COMPONENTS)