RUBFILA INT. 2023-24 Annual Report Analysis

Thu, 28 Nov

RUBFILA INT. 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.

RUBFILA INT. Income Statement Analysis

• Operating income during the year rose 2.8% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 3.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 7.7% in FY24 as against 8.2% in FY23.
• Depreciation charges increased by 22.9% and finance costs increased by 111.9% YoY, respectively.
• Other income grew by 13.9% YoY.
• Net profit for the year declined by 2.1% YoY.
• Net profit margins during the year declined from 5.7% in FY23 to 5.4% in FY24.

RUBFILA INT. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	4,571	4,698	2.8%
Other income	Rs m	66	75	13.9%
Total Revenues	Rs m	4,637	4,773	2.9%
Gross profit	Rs m	374	360	-3.8%
Depreciation	Rs m	86	106	22.9%
Interest	Rs m	2	3	111.9%
Profit before tax	Rs m	352	326	-7.5%
Tax	Rs m	93	72	-22.5%
Profit after tax	Rs m	260	254	-2.1%
Gross profit margin	%	8.2	7.7
Effective tax rate	%	26.4	22.1
Net profit margin	%	5.7	5.4

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RUBFILA INT. Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 307 million as compared to Rs 328 million in FY23, thereby witnessing an decrease of -6.7%.
• Current assets rose 22% and stood at Rs 2 billion, while fixed assets fell 4% and stood at Rs 2 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 3 billion as against Rs 3 billion during FY23, thereby witnessing a growth of 6%.

RUBFILA INT. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	2,521	2,706	7.4
Current Liabilities	Rs m	328	307	-6.7
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	3,109	3,301	6.2
Current assets	Rs m	1,232	1,507	22.3
Fixed Assets	Rs m	1,877	1,795	-4.4
Total Assets	Rs m	3,109	3,301	6.2

RUBFILA INT. Cash Flow Statement Analysis

• RUBFILA INT.'s cash flow from operating activities (CFO) during FY24 stood at Rs 279 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -9 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -69 million, an improvement of 30% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 201 million from the Rs -34 million net cash flows seen during FY23.

RUBFILA INT. 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	304	279	-8.2%
Cash Flow from Investing Activities	Rs m	-239	-9	-
Cash Flow from Financing Activities	Rs m	-98	-69	-
Net Cash Flow	Rs m	-34	201	-

Current Valuations for RUBFILA INT.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 4.7, an decline from the EPS of Rs 4.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 84.2, stands at 19.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.7 times, while the price to sales ratio stands at 1.0 times.
• The company's price to cash flow (P/CF) ratio stood at 12.1 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	84.2	86.6
TTM Earnings per share	Rs	4.8	4.7
Diluted earnings per share	Rs	4.8	4.7
Price to Cash Flow	x	9.7	12.1
TTM P/E ratio	x	12.9	19.8
Price / Book Value ratio	x	1.8	1.6
Market Cap	Rs m	4,504	4,348
Dividends per share (Unadj.)	Rs	1.2	1.2

Ratio Analysis for RUBFILA INT.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 4.9x during FY24, from 3.7x 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 102.9x during FY24, from 234.4x 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 9.4% during FY24, from 10.3% 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 12.2% during FY24, from 14.0% 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 7.8% during FY24, from 8.4% 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	3.7	4.9
Debtors’ Days	Days	386	427
Interest coverage	x	234.4	102.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	8.4	7.8
Return on equity	%	10.3	9.4
Return on capital employed	%	14.0	12.2

To see how RUBFILA INT. has performed over the last 5 years, please visit here.

RUBFILA INT. Share Price Performance

Over the last one year, RUBFILA INT. share price has moved up from Rs 78.0 to Rs 84.2, registering a gain of Rs 6.2 or around 7.9%.

Overall, the S&P BSE SENSEX is up 20.4% over the year.

(To know more, check out historical annual results for RUBFILA INT. and quarterly results for RUBFILA INT.)