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POSITRON ENERGY LTD. 2023-24 Annual Report Analysis

Tue, 27 Aug

POSITRON ENERGY LTD. 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.

POSITRON ENERGY LTD. Income Statement Analysis

• Operating income during the year rose 162.0% on a year-on-year (YoY) basis.
• The company's operating profit increased by 301.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 8.9% in FY24 as against 5.8% in FY23.
• Depreciation charges decreased by 16.1% and finance costs increased by 37.2% YoY, respectively.
• Other income grew by 14.2% YoY.
• Net profit for the year grew by 313.0% YoY.
• Net profit margins during the year grew from 4.1% in FY23 to 6.5% in FY24.

POSITRON ENERGY LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	514	1,347	162.0%
Other income	Rs m	6	7	14.2%
Total Revenues	Rs m	520	1,354	160.3%
Gross profit	Rs m	30	120	301.8%
Depreciation	Rs m	3	3	-16.1%
Interest	Rs m	4	6	37.2%
Profit before tax	Rs m	29	119	314.8%
Tax	Rs m	7	31	319.9%
Profit after tax	Rs m	21	88	313.0%
Gross profit margin	%	5.8	8.9
Effective tax rate	%	25.8	26.1
Net profit margin	%	4.1	6.5

For Investors: Our Big Prediction

POSITRON ENERGY LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 156 million as compared to Rs 118 million in FY23, thereby witnessing an increase of 32.0%.
• Long-term debt stood at Rs 73 million as compared to Rs 72 million during FY23, a growth of 1.5%.
• Current assets rose 65% and stood at Rs 353 million, while fixed assets fell 24% and stood at Rs 26 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 379 million as against Rs 248 million during FY23, thereby witnessing a growth of 53%.

POSITRON ENERGY LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	57	149	162.7
Current Liabilities	Rs m	118	156	32.0
Long-term Debt	Rs m	72	73	1.5
Total Liabilities	Rs m	248	379	53.0
Current assets	Rs m	214	353	65.1
Fixed Assets	Rs m	34	26	-23.9
Total Assets	Rs m	248	379	53.0

POSITRON ENERGY LTD. Cash Flow Statement Analysis

• POSITRON ENERGY LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs 64 million, an improvement of 541.0% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 12 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 23 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 99 million from the Rs 37 million net cash flows seen during FY23.

POSITRON ENERGY LTD. 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	10	64	541.0%
Cash Flow from Investing Activities	Rs m	-6	12	-
Cash Flow from Financing Activities	Rs m	33	23	-30.3%
Net Cash Flow	Rs m	37	99	165.9%

Current Valuations for POSITRON ENERGY LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 15.8, an decline from the EPS of Rs 60.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 636.4, stands at 55.0 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 32.5 times, while the price to sales ratio stands at 2.6 times.
• The company's price to cash flow (P/CF) ratio stood at 53.5 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	1,469.3	242.8
TTM Earnings per share	Rs	60.8	15.8
Diluted earnings per share	Rs	2.8	11.6
Price to Cash Flow	x	0.0	53.5
TTM P/E ratio	x	0.0	55.0
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	4,837
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for POSITRON ENERGY LTD.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.3x during FY24, from 1.8x 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 21.7x during FY24, from 7.8x 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 59.0% during FY24, from 37.5% 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 56.2% during FY24, from 25.5% 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 24.7% during FY24, from 10.3% 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	1.8	2.3
Debtors’ Days	Days	672	395
Interest coverage	x	7.8	21.7
Debt to equity ratio	x	1.3	0.5
Return on assets	%	10.3	24.7
Return on equity	%	37.5	59.0
Return on capital employed	%	25.5	56.2

To see how POSITRON ENERGY LTD. has performed over the last 5 years, please visit here.

POSITRON ENERGY LTD. Share Price Performance

Over the last one year, POSITRON ENERGY LTD. share price has moved down from Rs 0.0 to Rs 0.0, registering a loss of Rs 0.0 or around 0.0%.

Overall, the NIFTY 50 is down 0.1% over the year.

(To know more, check out historical annual results for POSITRON ENERGY LTD. and quarterly results for POSITRON ENERGY LTD.)