ODYSSEY TECH 2022-23 Annual Report Analysis

Thu, 25 May

ODYSSEY 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.

ODYSSEY TECH Income Statement Analysis

• Operating income during the year rose 6.7% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 23.4% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 27.4% in FY23 as against 38.1% in FY22.
• Depreciation charges decreased by 12.8% increased by 0.0% YoY, respectively.
• Other income grew by 101.4% YoY.
• Net profit for the year declined by 5.0% YoY.
• Net profit margins during the year declined from 20.3% in FY22 to 18.0% in FY23.

ODYSSEY TECH Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	227	242	6.7%
Other income	Rs m	9	18	101.4%
Total Revenues	Rs m	236	260	10.3%
Gross profit	Rs m	86	66	-23.4%
Depreciation	Rs m	32	28	-12.8%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	64	57	-11.3%
Tax	Rs m	18	13	-27.5%
Profit after tax	Rs m	46	44	-5.0%
Gross profit margin	%	38.1	27.4
Effective tax rate	%	27.8	22.8
Net profit margin	%	20.3	18.0

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ODYSSEY TECH Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 15 million as compared to Rs 19 million in FY22, thereby witnessing an decrease of -21.7%.
• Current assets rose 23% and stood at Rs 321 million, while fixed assets fell 10% and stood at Rs 180 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 501 million as against Rs 462 million during FY22, thereby witnessing a growth of 8%.

ODYSSEY TECH Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	429	471	9.8
Current Liabilities	Rs m	19	15	-21.7
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	462	501	8.4
Current assets	Rs m	262	321	22.7
Fixed Assets	Rs m	200	180	-10.3
Total Assets	Rs m	462	501	8.4

ODYSSEY TECH Cash Flow Statement Analysis

• ODYSSEY TECH's cash flow from operating activities (CFO) during FY23 stood at Rs 50 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 7 million, an improvement of 55.0% 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 58 million from the Rs 78 million net cash flows seen during FY22.

ODYSSEY 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	73	50	-32.1%
Cash Flow from Investing Activities	Rs m	5	7	55.0%
Cash Flow from Financing Activities	Rs m	0	0	0.0%
Net Cash Flow	Rs m	78	58	-26.1%

Current Valuations for ODYSSEY TECH

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 2.8, an decline from the EPS of Rs 2.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 75.0, stands at 27.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.5 times, while the price to sales ratio stands at 4.9 times.
• The company's price to cash flow (P/CF) ratio stood at 12.9 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	14.4	15.3
TTM Earnings per share	Rs	2.9	2.8
Diluted earnings per share	Rs	2.9	2.8
Price to Cash Flow	x	12.9	12.9
TTM P/E ratio	x	21.8	27.1
Price / Book Value ratio	x	2.8	1.9
Market Cap	Rs m	1,222	917
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ODYSSEY TECH

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 21.8x during FY23, from 13.9x during FY22. 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 9.3% during FY23, from 10.7% 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 declined and down at 12.0% during FY23, from 14.8% 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 declined and down at 8.7% during FY23, from 9.9% 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	13.9	21.8
Debtors’ Days	Days	904	953
Interest coverage	x	0.0	0.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	9.9	8.7
Return on equity	%	10.7	9.3
Return on capital employed	%	14.8	12.0

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

ODYSSEY TECH Share Price Performance

Over the last one year, ODYSSEY TECH share price has moved up from Rs 53.2 to Rs 75.0, registering a gain of Rs 21.9 or around 41.1%.

Overall, the S&P BSE SENSEX is up 13.4% over the year.

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