NILA INFRA. 2023-24 Annual Report Analysis

Mon, 8 Jul

NILA INFRA. 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.

NILA INFRA. Income Statement Analysis

• Operating income during the year rose 60.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 276.6% YoY during the fiscal. Operating profit margins witnessed a fall and down at 5.3% in FY24 as against 2.2% in FY23.
• Depreciation charges decreased by 9.7% and finance costs decreased by 31.0% YoY, respectively.
• Other income grew by 25.8% YoY.
• Net profit for the year grew by 847.0% YoY.
• Net profit margins during the year grew from 1.0% in FY23 to 6.2% in FY24.

NILA INFRA. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	1,151	1,847	60.4%
Other income	Rs m	120	151	25.8%
Total Revenues	Rs m	1,271	1,998	57.2%
Gross profit	Rs m	26	97	276.6%
Depreciation	Rs m	15	13	-9.7%
Interest	Rs m	112	77	-31.0%
Profit before tax	Rs m	19	158	729.5%
Tax	Rs m	7	43	524.6%
Profit after tax	Rs m	12	114	847.0%
Gross profit margin	%	2.2	5.3
Effective tax rate	%	36.6	27.5
Net profit margin	%	1.0	6.2

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

NILA INFRA. Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 7 billion as compared to Rs 7 billion in FY23, thereby witnessing an increase of 0.9%.
• Long-term debt stood at Rs 261 million as compared to Rs 210 million during FY23, a growth of 24.6%.
• Current assets rose 5% and stood at Rs 7 billion, while fixed assets fell 4% and stood at Rs 2 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 8 billion as against Rs 8 billion during FY23, thereby witnessing a growth of 3%.

NILA INFRA. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,326	1,438	8.4
Current Liabilities	Rs m	6,570	6,630	0.9
Long-term Debt	Rs m	210	261	24.6
Total Liabilities	Rs m	8,181	8,424	3.0
Current assets	Rs m	6,527	6,831	4.7
Fixed Assets	Rs m	1,653	1,593	-3.7
Total Assets	Rs m	8,181	8,424	3.0

NILA INFRA. Cash Flow Statement Analysis

• NILA INFRA.'s cash flow from operating activities (CFO) during FY24 stood at Rs 654 million, an improvement of 12.6% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -278 million, an improvement of 810.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -390 million, an improvement of 27% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -14 million from the Rs 13 million net cash flows seen during FY23.

NILA INFRA. 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	581	654	12.6%
Cash Flow from Investing Activities	Rs m	-31	-278	-
Cash Flow from Financing Activities	Rs m	-537	-390	-
Net Cash Flow	Rs m	13	-14	-

Current Valuations for NILA INFRA.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.3, an improvement from the EPS of Rs 0.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 12.7, stands at 43.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 3.5 times, while the price to sales ratio stands at 2.7 times.
• The company's price to cash flow (P/CF) ratio stood at 29.9 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	2.9	4.7
TTM Earnings per share	Rs	0.0	0.3
Diluted earnings per share	Rs	0.0	0.3
Price to Cash Flow	x	68.6	29.9
TTM P/E ratio	x	153.9	43.8
Price / Book Value ratio	x	1.9	2.7
Market Cap	Rs m	2,537	3,811
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for NILA INFRA.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.0x during FY24, from 1.0x 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 3.0x during FY24, from 1.2x 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 7.9% during FY24, from 0.9% 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 13.8% during FY24, from 8.5% 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 2.3% during FY24, from 1.5% 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	1.0	1.0
Debtors’ Days	Days	625	159
Interest coverage	x	1.2	3.0
Debt to equity ratio	x	0.2	0.2
Return on assets	%	1.5	2.3
Return on equity	%	0.9	7.9
Return on capital employed	%	8.5	13.8

To see how NILA INFRA. has performed over the last 5 years, please visit here.

NILA INFRA. Share Price Performance

Over the last one year, NILA INFRA. share price has moved up from Rs 6.0 to Rs 12.7, registering a gain of Rs 6.7 or around 112.4%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 8,699.1 (down 0.5%). Over the last one year it has moved up from 4,251.3 to 8,699.1, a gain of 4,448 points (up 104.6%).

Overall, the S&P BSE SENSEX is up 22.1% over the year.

(To know more, check out historical annual results for NILA INFRA. and quarterly results for NILA INFRA.)