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PARADEEP PHOSPHATES 2023-24 Annual Report Analysis
Mon, 9 Sep

PARADEEP PHOSPHATES 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.

PARADEEP PHOSPHATES Income Statement Analysis

  • Operating income during the year fell 13.2% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 19.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 5.6% in FY24 as against 6.0% in FY23.
  • Depreciation charges increased by 20.3% and finance costs increased by 25.7% YoY, respectively.
  • Other income declined by 24.4% YoY.
  • Net profit for the year declined by 67.2% YoY.
  • Net profit margins during the year declined from 2.3% in FY23 to 0.9% in FY24.

PARADEEP PHOSPHATES Income Statement 2023-24

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Net Sales Rs m 133,407 115,751 -13.2%
Other income Rs m 911 688 -24.4%
Total Revenues Rs m 134,318 116,440 -13.3%
Gross profit Rs m 8,015 6,487 -19.1%
Depreciation Rs m 1,752 2,107 20.3%
Interest Rs m 2,912 3,660 25.7%
Profit before tax Rs m 4,262 1,408 -67.0%
Tax Rs m 1,220 409 -66.4%
Profit after tax Rs m 3,042 999 -67.2%
Gross profit margin % 6.0 5.6
Effective tax rate % 28.6 29.1
Net profit margin % 2.3 0.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Must See: These Segments are Witnessing Incredible Growth with Modi's Push

PARADEEP PHOSPHATES Balance Sheet Analysis

  • The company's current liabilities during FY24 down at Rs 52 billion as compared to Rs 64 billion in FY23, thereby witnessing an decrease of -18.2%.
  • Long-term debt stood at Rs 7 billion as compared to Rs 6 billion during FY23, a growth of 10.6%.
  • Current assets fell 18% and stood at Rs 58 billion, while fixed assets rose 7% and stood at Rs 39 billion in FY24.
  • Overall, the total assets and liabilities for FY24 stood at Rs 97 billion as against Rs 107 billion during FY23, thereby witnessing a fall of 9%.

PARADEEP PHOSPHATES Balance Sheet as on March 2024

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Networth Rs m 35,027 35,611 1.7
 
Current Liabilities Rs m 63,910 52,259 -18.2
Long-term Debt Rs m 6,119 6,765 10.6
Total Liabilities Rs m 106,570 96,611 -9.3
 
Current assets Rs m 70,152 57,569 -17.9
Fixed Assets Rs m 36,418 39,042 7.2
Total Assets Rs m 106,570 96,611 -9.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



PARADEEP PHOSPHATES Cash Flow Statement Analysis

  • PARADEEP PHOSPHATES's cash flow from operating activities (CFO) during FY24 stood at Rs 14 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY24 stood at Rs -4 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY24 stood at Rs -10 billion on a YoY basis.
  • Overall, net cash flows for the company during FY24 stood at Rs 477 million from the Rs -5 billion net cash flows seen during FY23.

PARADEEP PHOSPHATES 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 -23,767 14,368 -
Cash Flow from Investing Activities Rs m -4,187 -3,669 -
Cash Flow from Financing Activities Rs m 23,006 -10,222 -
Net Cash Flow Rs m -4,948 477 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for PARADEEP PHOSPHATES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.2, an decline from the EPS of Rs 3.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 85.4, stands at 30.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.0 times, while the price to sales ratio stands at 0.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 17.9 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 163.8 142.1
TTM Earnings per share Rs 3.7 1.2
Diluted earnings per share Rs 3.7 1.2
Price to Cash Flow x 8.6 17.9
TTM P/E ratio x 13.5 30.9
Price / Book Value ratio x 1.3 1.6
Market Cap Rs m 44,573 55,486
Dividends per share (Unadj.) Rs 0.5 0.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for PARADEEP PHOSPHATES

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.1x during FY24, from 1.1x 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 1.4x during FY24, from 2.5x 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 declined and down at 2.8% during FY24, from 8.7% 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 declined and down at 12.0% during FY24, from 17.4% 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 declined and down at 4.8% during FY24, from 5.6% 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 1.1 1.1
Debtors’ Days Days 1,010 858
Interest coverage x 2.5 1.4
Debt to equity ratio x 0.2 0.2
Return on assets % 5.6 4.8
Return on equity % 8.7 2.8
Return on capital employed % 17.4 12.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how PARADEEP PHOSPHATES has performed over the last 5 years, please visit here.

PARADEEP PHOSPHATES Share Price Performance

Over the last one year, PARADEEP PHOSPHATES share price has moved up from Rs 72.5 to Rs 85.4, registering a gain of Rs 12.9 or around 17.8%.

Overall, the S&P BSE SENSEX is up 24.0% over the year.

(To know more, check out historical annual results for PARADEEP PHOSPHATES and quarterly results for PARADEEP PHOSPHATES)

Annual Report FAQs

What is the current share price of PARADEEP PHOSPHATES?

PARADEEP PHOSPHATES currently trades at Rs 104.9 per share. You can check out the latest share price performance of PARADEEP PHOSPHATES here...

What was the revenue of PARADEEP PHOSPHATES in FY24? How does it compare to earlier years?

The revenues of PARADEEP PHOSPHATES stood at Rs 116,440 m in FY24, which was down -13.3% compared to Rs 134,318 m reported in FY23.

PARADEEP PHOSPHATES' revenue has grown from Rs 42,278 m in FY20 to Rs 116,440 m in FY24.

Over the past 5 years, the revenue of PARADEEP PHOSPHATES has grown at a CAGR of 28.8%.

What was the net profit of PARADEEP PHOSPHATES in FY24? How does it compare to earlier years?

The net profit of PARADEEP PHOSPHATES stood at Rs 999 m in FY24, which was down -67.2% compared to Rs 3,042 m reported in FY23.

This compares to a net profit of Rs 3,985 m in FY22 and a net profit of Rs 2,233 m in FY21.

Over the past 5 years, PARADEEP PHOSPHATES net profit has grown at a CAGR of -15.2%.

What does the cash flow statement of PARADEEP PHOSPHATES reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of PARADEEP PHOSPHATES reveals:

  • Cash flow from operations increased in FY24 and stood at Rs 14,368 m as compared to Rs -23,767 m in FY23.
  • Cash flow from investments increased in FY24 and stood at Rs -3,669 m as compared to Rs -4,187 m in FY23.
  • Cash flow from financial activity decreased in FY24 and stood at Rs -10,222 m as compared to Rs 23,006 m in FY23.

Here's the cash flow statement of PARADEEP PHOSPHATES for the past 5 years.

(Rs m)FY20FY21FY22FY23FY24
From Operations12,69715,011-439-23,76714,368
From Investments-1,432-2,893-10,988-4,187-3,669
From Financial Activity-11,412-11,24415,89023,006-10,222
Net Cashflow-1478744,463-4,948477

What does the Key Ratio analysis of PARADEEP PHOSPHATES reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of PARADEEP PHOSPHATES reveals:

  • Operating profit margins witnessed a fall and stood at 5.6% in FY24 as against 6.0% in FY23.
  • Net profit margins declined from 2.3% in FY23 to 0.9% in FY24.
  • Debt to Equity ratio for FY24 stood at 0.2 as compared to 0.2 in FY23.

Here's the ratio/financial analysis of PARADEEP PHOSPHATES for the past 5 years.

 FY20FY21FY22FY23FY24
Operating Profit Margin (%)10.910.58.56.05.6
Net Profit Margin (%)4.64.35.12.30.9
Debt to Equity Ratio (x)0.10.10.20.20.2

 

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