Helping You Build Wealth With Honest Research
Since 1996. Read On...

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Revealed
India's Third Giant Leap

This Could be One of the Biggest Opportunities for Investors




Important: We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
By submitting your email address, you also sign up for Profit Hunter, a daily newsletter from Equitymaster
covering exciting investing ideas and opportunities in India.

AD

SAT INDUSTRIES 2023-24 Annual Report Analysis
Tue, 25 Jun

SAT INDUSTRIES 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.

SAT INDUSTRIES Income Statement Analysis

  • Operating income during the year rose 7.4% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 28.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 14.7% in FY24 as against 12.3% in FY23.
  • Depreciation charges increased by 27.7% and finance costs increased by 42.3% YoY, respectively.
  • Other income grew by 1687.4% YoY.
  • Net profit for the year grew by 508.6% YoY.
  • Net profit margins during the year grew from 9.7% in FY23 to 54.8% in FY24.

SAT INDUSTRIES Income Statement 2023-24

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Net Sales Rs m 4,662 5,006 7.4%
Other income Rs m 155 2,778 1,687.4%
Total Revenues Rs m 4,818 7,784 61.6%
Gross profit Rs m 574 738 28.5%
Depreciation Rs m 72 92 27.7%
Interest Rs m 75 107 42.3%
Profit before tax Rs m 583 3,318 469.1%
Tax Rs m 132 575 334.6%
Profit after tax Rs m 451 2,742 508.6%
Gross profit margin % 12.3 14.7
Effective tax rate % 22.7 17.3
Net profit margin % 9.7 54.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Dear Reader: If You Invest in Midcap Stocks, this is for You

SAT INDUSTRIES Balance Sheet Analysis

  • The company's current liabilities during FY24 stood at Rs 2 billion as compared to Rs 2 billion in FY23, thereby witnessing an increase of 1.1%.
  • Long-term debt down at Rs 102 million as compared to Rs 283 million during FY23, a fall of 64.0%.
  • Current assets rose 100% and stood at Rs 7 billion, while fixed assets rose 41% and stood at Rs 2 billion in FY24.
  • Overall, the total assets and liabilities for FY24 stood at Rs 9 billion as against Rs 5 billion during FY23, thereby witnessing a growth of 82%.

SAT INDUSTRIES Balance Sheet as on March 2024

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Networth Rs m 2,614 6,483 148.1
 
Current Liabilities Rs m 1,512 1,528 1.1
Long-term Debt Rs m 283 102 -64.0
Total Liabilities Rs m 4,903 8,933 82.2
 
Current assets Rs m 3,445 6,878 99.7
Fixed Assets Rs m 1,458 2,055 40.9
Total Assets Rs m 4,903 8,933 82.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



SAT INDUSTRIES Cash Flow Statement Analysis

  • SAT INDUSTRIES's cash flow from operating activities (CFO) during FY24 stood at Rs -2 billion, an improvement of 3,432.7% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY24 stood at Rs 2 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY24 stood at Rs 788 million, an improvement of 37% on a YoY basis.
  • Overall, net cash flows for the company during FY24 stood at Rs 436 million from the Rs 182 million net cash flows seen during FY23.

SAT INDUSTRIES 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 -68 -2,417 -
Cash Flow from Investing Activities Rs m -325 2,065 -
Cash Flow from Financing Activities Rs m 576 788 36.9%
Net Cash Flow Rs m 182 436 139.3%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for SAT INDUSTRIES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 24.2, an improvement from the EPS of Rs 4.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 94.5, stands at 3.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.6 times, while the price to sales ratio stands at 2.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 4.0 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 41.2 44.3
TTM Earnings per share Rs 4.0 24.2
Diluted earnings per share Rs 4.0 24.2
Price to Cash Flow x 13.0 4.0
TTM P/E ratio x 15.1 3.9
Price / Book Value ratio x 2.4 1.7
Market Cap Rs m 6,319 11,331
Dividends per share (Unadj.) Rs 0.2 0.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for SAT INDUSTRIES

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 4.5x during FY24, from 2.3x 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 32.0x during FY24, from 8.8x 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 42.3% during FY24, from 17.2% 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 52.0% during FY24, from 22.7% 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 31.9% during FY24, from 10.7% 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 2.3 4.5
Debtors’ Days Days 838 1,079
Interest coverage x 8.8 32.0
Debt to equity ratio x 0.1 0.0
Return on assets % 10.7 31.9
Return on equity % 17.2 42.3
Return on capital employed % 22.7 52.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how SAT INDUSTRIES has performed over the last 5 years, please visit here.

SAT INDUSTRIES Share Price Performance

Over the last one year, SAT INDUSTRIES share price has moved up from Rs 81.2 to Rs 94.5, registering a gain of Rs 13.3 or around 16.4%.

Overall, the S&P BSE SENSEX is up 21.8% over the year.

(To know more, check out historical annual results for SAT INDUSTRIES and quarterly results for SAT INDUSTRIES)

Annual Report FAQs

What is the current share price of SAT INDUSTRIES?

SAT INDUSTRIES currently trades at Rs 104.6 per share. You can check out the latest share price performance of SAT INDUSTRIES here...

What was the revenue of SAT INDUSTRIES in FY24? How does it compare to earlier years?

The revenues of SAT INDUSTRIES stood at Rs 7,784 m in FY24, which was up 61.6% compared to Rs 4,818 m reported in FY23.

SAT INDUSTRIES' revenue has grown from Rs 2,290 m in FY20 to Rs 7,784 m in FY24.

Over the past 5 years, the revenue of SAT INDUSTRIES has grown at a CAGR of 35.8%.

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

The net profit of SAT INDUSTRIES stood at Rs 2,742 m in FY24, which was up 508.6% compared to Rs 451 m reported in FY23.

This compares to a net profit of Rs 387 m in FY22 and a net profit of Rs 95 m in FY21.

Over the past 5 years, SAT INDUSTRIES net profit has grown at a CAGR of 186.4%.

What does the cash flow statement of SAT INDUSTRIES 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 SAT INDUSTRIES reveals:

  • Cash flow from operations decreased in FY24 and stood at Rs -2,417 m as compared to Rs -68 m in FY23.
  • Cash flow from investments increased in FY24 and stood at Rs 2,065 m as compared to Rs -325 m in FY23.
  • Cash flow from financial activity increased in FY24 and stood at Rs 788 m as compared to Rs 576 m in FY23.

Here's the cash flow statement of SAT INDUSTRIES for the past 5 years.

(Rs m)FY20FY21FY22FY23FY24
From Operations278191173-68-2,417
From Investments-162-54-216-3252,065
From Financial Activity-15-11077576788
Net Cashflow1022734182436

What does the Key Ratio analysis of SAT INDUSTRIES 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 SAT INDUSTRIES reveals:

  • Operating profit margins witnessed a fall and down at 14.7% in FY24 as against 12.3% in FY23.
  • Net profit margins grew from 9.7% in FY23 to 54.8% in FY24.
  • Debt to Equity ratio for FY24 stood at 0.0 as compared to 0.1 in FY23.

Here's the ratio/financial analysis of SAT INDUSTRIES for the past 5 years.

 FY20FY21FY22FY23FY24
Operating Profit Margin (%)7.312.917.112.314.7
Net Profit Margin (%)1.84.611.29.754.8
Debt to Equity Ratio (x)0.20.20.10.10.0

Equitymaster requests your view! Post a comment on "SAT INDUSTRIES 2023-24 Annual Report Analysis". Click here!