SHRICON IND. 2022-23 Annual Report Analysis

Mon, 12 Jun

SHRICON IND. 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.

SHRICON IND. Income Statement Analysis

• Operating income during the year rose 0.0% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and stood at 10400.0% in FY23 as against 0.0% in FY22.
• Depreciation charges increased by 64.3% and finance costs decreased by 27.9% YoY, respectively.
• Other income grew by 89.5% YoY.
• Net profit for the year grew by 226.1% YoY.
• Net profit margins during the year grew from 0.0% in FY22 to 0.0% in FY23.

SHRICON IND. Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	0	0	0.0%
Other income	Rs m	9	17	89.5%
Total Revenues	Rs m	9	17	89.7%
Gross profit	Rs m	-1	-2	NA
Depreciation	Rs m	0	0	64.3%
Interest	Rs m	4	3	-27.9%
Profit before tax	Rs m	4	12	226.1%
Tax	Rs m	0	0	0.0
Profit after tax	Rs m	4	12	226.1%
Gross profit margin	%	0.0	-10,400.0
Effective tax rate	%	0.0	0.0
Net profit margin	%	0.0	0.0

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SHRICON IND. Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 0 million as compared to Rs 1 million in FY22, thereby witnessing an decrease of -86.9%.
• Long-term debt down at Rs 10 million as compared to Rs 38 million during FY22, a fall of 73.0%.
• Current assets fell 30% and stood at Rs 0 million, while fixed assets fell 27% and stood at Rs 44 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 45 million as against Rs 61 million during FY22, thereby witnessing a fall of 27%.

SHRICON IND. Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	22	35	53.8
Current Liabilities	Rs m	1	0	-86.9
Long-term Debt	Rs m	38	10	-73.0
Total Liabilities	Rs m	61	45	-26.6
Current assets	Rs m	1	0	-30.2
Fixed Assets	Rs m	61	44	-26.6
Total Assets	Rs m	61	45	-26.6

SHRICON IND. Cash Flow Statement Analysis

• SHRICON IND.'s cash flow from operating activities (CFO) during FY23 stood at Rs -2 million, an improvement of 119.1% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 33 million, an improvement of 69.5% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -31 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 0 million from the Rs 0 million net cash flows seen during FY22.

SHRICON IND. 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	-1	-2	-
Cash Flow from Investing Activities	Rs m	19	33	69.5%
Cash Flow from Financing Activities	Rs m	-18	-31	-
Net Cash Flow	Rs m	0	0	-175.0%

Current Valuations for SHRICON IND.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.8, an improvement from the EPS of Rs 3.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 31.3, stands at 3.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.1 times, while the price to sales ratio stands at 1,937.5 times.
• The company's price to cash flow (P/CF) ratio stood at 3.2 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	0.0	0.0
TTM Earnings per share	Rs	3.0	9.8
Diluted earnings per share	Rs	3.0	9.8
Price to Cash Flow	x	10.2	3.2
TTM P/E ratio	x	10.6	3.2
Price / Book Value ratio	x	0.0	1.1
Market Cap	Rs m	39	39
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for SHRICON IND.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 3.4x during FY23, from 0.6x during FY22. 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 5.1x during FY23, from 1.9x during FY22. 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 35.0% during FY23, from 16.5% 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 33.7% during FY23, from 13.0% 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 improved and stood at 33.6% during FY23, from 12.8% 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	0.6	3.4
Debtors’ Days	Days	0	2,738
Interest coverage	x	1.9	5.1
Debt to equity ratio	x	1.7	0.3
Return on assets	%	12.8	33.6
Return on equity	%	16.5	35.0
Return on capital employed	%	13.0	33.7

To see how SHRICON IND. has performed over the last 5 years, please visit here.

SHRICON IND. Share Price Performance

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(To know more, check out historical annual results for SHRICON IND. and quarterly results for SHRICON IND.)