Markets will remain closed on 20^th November, 2024 on account of Assembly Elections in Maharashtra.

PREMIER ENERGIES LTD. 2023-24 Annual Report Analysis

Mon, 9 Sep

PREMIER ENERGIES 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.

PREMIER ENERGIES LTD. Income Statement Analysis

• Operating income during the year rose 120.1% on a year-on-year (YoY) basis.
• The company's operating profit increased by 503.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 15.2% in FY24 as against 5.6% in FY23.
• Depreciation charges increased by 80.5% and finance costs increased by 76.6% YoY, respectively.
• Other income declined by 20.6% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 0.9% in FY23 to 7.4% in FY24.

PREMIER ENERGIES LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	14,285	31,438	120.1%
Other income	Rs m	347	275	-20.6%
Total Revenues	Rs m	14,632	31,713	116.7%
Gross profit	Rs m	794	4,791	503.3%
Depreciation	Rs m	532	961	80.5%
Interest	Rs m	686	1,212	76.6%
Profit before tax	Rs m	-78	2,894	NA
Tax	Rs m	56	580	940.4%
Profit after tax	Rs m	-133	2,314	NA
Gross profit margin	%	5.6	15.2
Effective tax rate	%	-71.9	20.0
Net profit margin	%	-0.9	7.4

For Investors: Our Big Prediction

PREMIER ENERGIES LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 19 billion as compared to Rs 10 billion in FY23, thereby witnessing an increase of 81.8%.
• Long-term debt stood at Rs 9 billion as compared to Rs 7 billion during FY23, a growth of 18.8%.
• Current assets rose 107% and stood at Rs 22 billion, while fixed assets rose 28% and stood at Rs 14 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 35 billion as against Rs 21 billion during FY23, thereby witnessing a growth of 68%.

PREMIER ENERGIES LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	2,398	6,415	167.5
Current Liabilities	Rs m	10,374	18,859	81.8
Long-term Debt	Rs m	7,397	8,784	18.8
Total Liabilities	Rs m	21,104	35,369	67.6
Current assets	Rs m	10,557	21,819	106.7
Fixed Assets	Rs m	10,547	13,551	28.5
Total Assets	Rs m	21,104	35,369	67.6

PREMIER ENERGIES LTD. Cash Flow Statement Analysis

• PREMIER ENERGIES LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs 902 million, an improvement of 145.8% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -4 billion, an improvement of 47.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 5 billion, an improvement of 118% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 2 billion from the Rs -155 million net cash flows seen during FY23.

PREMIER ENERGIES 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	367	902	145.8%
Cash Flow from Investing Activities	Rs m	-3,039	-4,466	-
Cash Flow from Financing Activities	Rs m	2,517	5,489	118.1%
Net Cash Flow	Rs m	-155	1,924	-

Current Valuations for PREMIER ENERGIES LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 8.8, 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 1,112.4, stands at 216.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 78.2 times, while the price to sales ratio stands at 9.3 times.
• The company's price to cash flow (P/CF) ratio stood at 153.1 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	54.2	119.3
TTM Earnings per share	Rs	-0.5	8.8
Diluted earnings per share	Rs	-0.3	5.1
Price to Cash Flow	x	0.0	153.1
TTM P/E ratio	x	0.0	216.7
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	501,419
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for PREMIER ENERGIES LTD.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.2x during FY24, from 1.0x 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 3.4x during FY24, from 0.9x 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 36.1% during FY24, from -5.6% 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 27.0% during FY24, from 6.2% 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 10.0% during FY24, from 2.6% 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	1.0	1.2
Debtors’ Days	Days	15	71
Interest coverage	x	0.9	3.4
Debt to equity ratio	x	3.1	1.4
Return on assets	%	2.6	10.0
Return on equity	%	-5.6	36.1
Return on capital employed	%	6.2	27.0

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

PREMIER ENERGIES LTD. Share Price Performance

Over the last one year, PREMIER ENERGIES LTD. share price has moved up from Rs 0.0 to Rs 1,112.4, registering a gain of Rs 1,112.4 or around 0.0%.

Overall, the S&P BSE SENSEX is up 23.3% over the year.

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