NAGARJUNA AGRI TECH 2022-23 Annual Report Analysis

Thu, 19 Oct

NAGARJUNA AGRI TECH has announced its results for the year ended March 2023. Let us have a look at the detailed performance review of the company during FY22-23.

NAGARJUNA AGRI TECH Income Statement Analysis

• Operating income during the year rose 0.3% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and down at 1.2% in FY23 as against 11.5% in FY22.
• Depreciation charges decreased by 22.3% and finance costs decreased by 5.9% YoY, respectively.
• Other income declined by 65.4% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 17.4% in FY22 to 6.4% in FY23.

NAGARJUNA AGRI TECH Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	26	26	0.3%
Other income	Rs m	0	0	-65.4%
Total Revenues	Rs m	27	27	-0.3%
Gross profit	Rs m	-3	0	NA
Depreciation	Rs m	2	1	-22.3%
Interest	Rs m	0	0	-5.9%
Profit before tax	Rs m	-5	-2	NA
Tax	Rs m	0	0	0.0
Profit after tax	Rs m	-5	-2	NA
Gross profit margin	%	-11.5	-1.2
Effective tax rate	%	0.0	0.0
Net profit margin	%	-17.4	-6.4

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NAGARJUNA AGRI TECH Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 10 million as compared to Rs 10 million in FY22, thereby witnessing an increase of 4.0%.
• Current assets fell 26% and stood at Rs 3 million, while fixed assets rose 10% and stood at Rs 36 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 39 million as against Rs 37 million during FY22, thereby witnessing a growth of 7%.

NAGARJUNA AGRI TECH Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	27	29	7.6
Current Liabilities	Rs m	10	10	4.0
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	37	39	6.6
Current assets	Rs m	4	3	-25.9
Fixed Assets	Rs m	33	36	10.5
Total Assets	Rs m	37	39	6.6

NAGARJUNA AGRI TECH Cash Flow Statement Analysis

• NAGARJUNA AGRI TECH's cash flow from operating activities (CFO) during FY23 stood at Rs 2 million, an improvement of 2,057.1% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -1 million, an improvement of 400.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 0 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 0 million from the Rs 0 million net cash flows seen during FY22.

NAGARJUNA AGRI TECH Cash Flow Statement 2022-23

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-22	Mar-23
Cash Flow from Operating Activities	Rs m	0	2	2,057.1%
Cash Flow from Investing Activities	Rs m	0	-1	-
Cash Flow from Financing Activities	Rs m	0	0	0.0%
Net Cash Flow	Rs m	0	0	-

Current Valuations for NAGARJUNA AGRI TECH

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -0.2, an improvement from the EPS of Rs -0.5 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 13.7, stands at 2.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 4.4 times, while the price to sales ratio stands at 4.8 times.
• The company's price to cash flow (P/CF) ratio stood at -120.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Sales per share (Unadj.)	Rs	2.8	2.8
TTM Earnings per share	Rs	-0.5	-0.2
Diluted earnings per share	Rs	-0.5	-0.2
Price to Cash Flow	x	-15.9	-120.7
TTM P/E ratio	x	-10.2	2.2
Price / Book Value ratio	x	1.8	1.7
Market Cap	Rs m	48	49
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for NAGARJUNA AGRI TECH

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 0.3x during FY23, from 0.4x during FY22. 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 -9.6x during FY23, from -26.1x during FY22. 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 -5.9% during FY23, from -17.1% during FY23. 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 -5.3% during FY23, from -16.5% during FY22. 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 -3.9% during FY23, from -12.1% during FY22. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Current ratio	x	0.4	0.3
Debtors’ Days	Days	16,058,187	10,268,754
Interest coverage	x	-26.1	-9.6
Debt to equity ratio	x	0.0	0.0
Return on assets	%	-12.1	-3.9
Return on equity	%	-17.1	-5.9
Return on capital employed	%	-16.5	-5.3

To see how NAGARJUNA AGRI TECH has performed over the last 5 years, please visit here.

NAGARJUNA AGRI TECH Share Price Performance

Over the last one year, NAGARJUNA AGRI TECH share price has moved up from Rs 0.0 to Rs 13.7, registering a gain of Rs 13.7 or around 0.0%.

Overall, the S&P BSE SENSEX is up 12.6% over the year.

(To know more, check out historical annual results for NAGARJUNA AGRI TECH and quarterly results for NAGARJUNA AGRI TECH)