RASHI PERIPHERALS LTD. 2023-24 Annual Report Analysis

Wed, 28 Aug

RASHI PERIPHERALS 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.

RASHI PERIPHERALS LTD. Income Statement Analysis

• Operating income during the year rose 17.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 18.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 2.8% in FY24 as against 2.7% in FY23.
• Depreciation charges increased by 13.3% and finance costs increased by 23.8% YoY, respectively.
• Other income grew by 15.9% YoY.
• Net profit for the year grew by 16.6% YoY.
• Net profit margins during the year declined from 1.3% in FY23 to 1.3% in FY24.

RASHI PERIPHERALS LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	94,543	110,947	17.4%
Other income	Rs m	131	151	15.9%
Total Revenues	Rs m	94,673	111,098	17.3%
Gross profit	Rs m	2,578	3,063	18.8%
Depreciation	Rs m	167	189	13.3%
Interest	Rs m	895	1,109	23.8%
Profit before tax	Rs m	1,646	1,917	16.4%
Tax	Rs m	413	478	15.8%
Profit after tax	Rs m	1,233	1,439	16.6%
Gross profit margin	%	2.7	2.8
Effective tax rate	%	25.1	24.9
Net profit margin	%	1.3	1.3

Don't Miss: Key Information for Long-term Investors

RASHI PERIPHERALS LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 23 billion as compared to Rs 20 billion in FY23, thereby witnessing an increase of 10.2%.
• Long-term debt down at Rs 5 million as compared to Rs 324 million during FY23, a fall of 98.5%.
• Current assets rose 39% and stood at Rs 37 billion, while fixed assets fell 10% and stood at Rs 1 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 38 billion as against Rs 28 billion during FY23, thereby witnessing a growth of 36%.

RASHI PERIPHERALS LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	7,002	15,506	121.5
Current Liabilities	Rs m	20,474	22,570	10.2
Long-term Debt	Rs m	324	5	-98.5
Total Liabilities	Rs m	27,927	38,120	36.5
Current assets	Rs m	26,732	37,048	38.6
Fixed Assets	Rs m	1,195	1,072	-10.3
Total Assets	Rs m	27,927	38,120	36.5

RASHI PERIPHERALS LTD. Cash Flow Statement Analysis

• RASHI PERIPHERALS LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs -1 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 18 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 2 billion, an improvement of 96% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 1 billion from the Rs -106 million net cash flows seen during FY23.

RASHI PERIPHERALS 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	-1,146	-1,020	-
Cash Flow from Investing Activities	Rs m	-38	18	-
Cash Flow from Financing Activities	Rs m	1,078	2,113	96.0%
Net Cash Flow	Rs m	-106	1,104	-

Current Valuations for RASHI PERIPHERALS LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 21.8, an decline from the EPS of Rs 29.5 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 438.5, stands at 20.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.9 times, while the price to sales ratio stands at 0.3 times.
• The company's price to cash flow (P/CF) ratio stood at 13.8 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	2,262.9	1,683.6
TTM Earnings per share	Rs	29.5	21.8
Diluted earnings per share	Rs	18.7	21.8
Price to Cash Flow	x	0.0	13.8
TTM P/E ratio	x	0.0	20.1
Price / Book Value ratio	x	0.0	1.4
Market Cap	Rs m	0	22,386
Dividends per share (Unadj.)	Rs	0.5	1.0

Ratio Analysis for RASHI PERIPHERALS LTD.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.6x during FY24, from 1.3x 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 deteriorated and stood at 2.7x during FY24, from 2.8x 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 declined and down at 9.3% during FY24, from 17.6% 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 declined and down at 19.5% during FY24, from 34.7% 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 declined and down at 6.7% during FY24, from 7.6% 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	1.3	1.6
Debtors’ Days	Days	34	46
Interest coverage	x	2.8	2.7
Debt to equity ratio	x	0.0	0.0
Return on assets	%	7.6	6.7
Return on equity	%	17.6	9.3
Return on capital employed	%	34.7	19.5

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

RASHI PERIPHERALS LTD. Share Price Performance

Over the last one year, RASHI PERIPHERALS LTD. share price has moved up from Rs 0.0 to Rs 438.5, registering a gain of Rs 438.5 or around 0.0%.

Overall, the S&P BSE SENSEX is up 26.0% over the year.

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