PRESSMAN ADVT. 2022-23 Annual Report Analysis

Tue, 20 Jun

PRESSMAN ADVT. 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.

PRESSMAN ADVT. Income Statement Analysis

• Operating income during the year fell 1.7% on a year-on-year (YoY) basis.
• The company's operating profit increased by 5.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 23.6% in FY23 as against 22.1% in FY22.
• Depreciation charges increased by 57.1% increased by 0.0% YoY, respectively.
• Other income grew by 8.7% YoY.
• Net profit for the year declined by 1.4% YoY.
• Net profit margins during the year grew from 32.0% in FY22 to 32.1% in FY23.

PRESSMAN ADVT. Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	141	138	-1.7%
Other income	Rs m	23	25	8.7%
Total Revenues	Rs m	164	163	-0.2%
Gross profit	Rs m	31	33	5.1%
Depreciation	Rs m	0	0	57.1%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	54	57	6.5%
Tax	Rs m	9	13	46.4%
Profit after tax	Rs m	45	44	-1.4%
Gross profit margin	%	22.1	23.6
Effective tax rate	%	16.5	22.6
Net profit margin	%	32.0	32.1

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PRESSMAN ADVT. Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 26 million as compared to Rs 23 million in FY22, thereby witnessing an increase of 13.9%.
• Current assets rose 13% and stood at Rs 301 million, while fixed assets fell 6% and stood at Rs 198 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 499 million as against Rs 474 million during FY22, thereby witnessing a growth of 5%.

PRESSMAN ADVT. Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	449	470	4.6
Current Liabilities	Rs m	23	26	13.9
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	474	499	5.1
Current assets	Rs m	265	301	13.4
Fixed Assets	Rs m	209	198	-5.5
Total Assets	Rs m	474	499	5.1

PRESSMAN ADVT. Cash Flow Statement Analysis

• PRESSMAN ADVT.'s cash flow from operating activities (CFO) during FY23 stood at Rs 17 million, an improvement of 17.5% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 6 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -23 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -1 million from the Rs -30 million net cash flows seen during FY22.

PRESSMAN ADVT. 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	14	17	17.5%
Cash Flow from Investing Activities	Rs m	-21	6	-
Cash Flow from Financing Activities	Rs m	-23	-23	-
Net Cash Flow	Rs m	-30	-1	-

Current Valuations for PRESSMAN ADVT.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.9, an decline from the EPS of Rs 1.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 147.0, stands at 77.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 7.3 times, while the price to sales ratio stands at 24.9 times.
• The company's price to cash flow (P/CF) ratio stood at 27.6 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	6.0	5.9
TTM Earnings per share	Rs	1.9	1.9
Diluted earnings per share	Rs	1.9	1.9
Price to Cash Flow	x	21.4	27.6
TTM P/E ratio	x	21.4	77.7
Price / Book Value ratio	x	1.9	2.6
Market Cap	Rs m	869	1,231
Dividends per share (Unadj.)	Rs	1.0	1.0

Ratio Analysis for PRESSMAN ADVT.

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 11.5x during FY23, from 11.5x 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 9.5% during FY23, from 10.0% 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 improved and stood at 12.2% during FY23, from 12.0% 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 8.9% during FY23, from 9.5% 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	11.5	11.5
Debtors’ Days	Days	415	629
Interest coverage	x	0.0	0.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	9.5	8.9
Return on equity	%	10.0	9.5
Return on capital employed	%	12.0	12.2

To see how PRESSMAN ADVT. has performed over the last 5 years, please visit here.

PRESSMAN ADVT. Share Price Performance

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(To know more, check out historical annual results for PRESSMAN ADVT. and quarterly results for PRESSMAN ADVT.)