ONMOBILE GLOBAL 2023-24 Annual Report Analysis

Thu, 19 Sep

ONMOBILE GLOBAL 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.

ONMOBILE GLOBAL Income Statement Analysis

• Operating income during the year fell 2.3% on a year-on-year (YoY) basis.
• The company's operating profit increased by 218.6% YoY during the fiscal. Operating profit margins witnessed a fall and down at 4.5% in FY24 as against 1.4% in FY23.
• Depreciation charges increased by 9.3% and finance costs increased by 284.8% YoY, respectively.
• Other income grew by 74.7% YoY.
• Net profit for the year grew by 125.6% YoY.
• Net profit margins during the year grew from 1.3% in FY23 to 3.0% in FY24.

ONMOBILE GLOBAL Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	5,252	5,132	-2.3%
Other income	Rs m	117	204	74.7%
Total Revenues	Rs m	5,369	5,337	-0.6%
Gross profit	Rs m	73	231	218.6%
Depreciation	Rs m	103	112	9.3%
Interest	Rs m	15	58	284.8%
Profit before tax	Rs m	72	265	269.1%
Tax	Rs m	4	112	2,691.5%
Profit after tax	Rs m	68	153	125.6%
Gross profit margin	%	1.4	4.5
Effective tax rate	%	5.6	42.3
Net profit margin	%	1.3	3.0

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ONMOBILE GLOBAL Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 2 billion as compared to Rs 2 billion in FY23, thereby witnessing an decrease of -4.3%.
• Current assets fell 20% and stood at Rs 3 billion, while fixed assets rose 11% and stood at Rs 6 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 8 billion as against Rs 9 billion during FY23, thereby witnessing a fall of 2%.

ONMOBILE GLOBAL Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	6,451	6,430	-0.3
Current Liabilities	Rs m	2,323	2,223	-4.3
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	8,547	8,395	-1.8
Current assets	Rs m	3,411	2,712	-20.5
Fixed Assets	Rs m	5,136	5,683	10.6
Total Assets	Rs m	8,547	8,395	-1.8

ONMOBILE GLOBAL Cash Flow Statement Analysis

• ONMOBILE GLOBAL's cash flow from operating activities (CFO) during FY24 stood at Rs 380 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -568 million, an improvement of 69.1% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -9 million, an improvement of 89% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -137 million from the Rs 42 million net cash flows seen during FY23.

ONMOBILE GLOBAL 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	444	380	-14.3%
Cash Flow from Investing Activities	Rs m	-336	-568	-
Cash Flow from Financing Activities	Rs m	-85	-9	-
Net Cash Flow	Rs m	42	-137	-

Current Valuations for ONMOBILE GLOBAL

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.4, an improvement from the EPS of Rs 0.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 84.9, stands at -91.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.4 times, while the price to sales ratio stands at 1.8 times.
• The company's price to cash flow (P/CF) ratio stood at 37.6 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	49.5	48.3
TTM Earnings per share	Rs	0.6	1.4
Diluted earnings per share	Rs	0.6	1.4
Price to Cash Flow	x	37.6	37.6
TTM P/E ratio	x	95.7	-91.8
Price / Book Value ratio	x	2.0	1.6
Market Cap	Rs m	13,102	9,974
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ONMOBILE GLOBAL

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.2x during FY24, from 1.5x 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 5.6x during FY24, from 5.7x 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 2.4% during FY24, from 1.1% 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 5.0% during FY24, from 1.3% 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 2.5% during FY24, from 1.0% 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	1.5	1.2
Debtors’ Days	Days	92	99
Interest coverage	x	5.7	5.6
Debt to equity ratio	x	0.0	0.0
Return on assets	%	1.0	2.5
Return on equity	%	1.1	2.4
Return on capital employed	%	1.3	5.0

To see how ONMOBILE GLOBAL has performed over the last 5 years, please visit here.

ONMOBILE GLOBAL Share Price Performance

Over the last one year, ONMOBILE GLOBAL share price has moved down from Rs 112.3 to Rs 84.9, registering a loss of Rs 27.3 or around 24.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 42,282.4 (down 0.9%). Over the last one year it has moved up from 33,207.2 to 42,282.4, a gain of 9,075 points (up 27.3%).

Overall, the S&P BSE SENSEX is up 23.0% over the year.

(To know more, check out historical annual results for ONMOBILE GLOBAL and quarterly results for ONMOBILE GLOBAL)