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SCHNEIDER ELECTRIC INFRA 2023-24 Annual Report Analysis

Mon, 12 Aug

SCHNEIDER ELECTRIC INFRA 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.

SCHNEIDER ELECTRIC INFRA Income Statement Analysis

• Operating income during the year rose 24.2% on a year-on-year (YoY) basis.
• The company's operating profit increased by 61.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.2% in FY24 as against 10.1% in FY23.
• Depreciation charges increased by 18.9% and finance costs increased by 29.9% YoY, respectively.
• Other income declined by 35.0% YoY.
• Net profit for the year grew by 39.1% YoY.
• Net profit margins during the year grew from 7.0% in FY23 to 7.8% in FY24.

SCHNEIDER ELECTRIC INFRA Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	17,772	22,067	24.2%
Other income	Rs m	152	99	-35.0%
Total Revenues	Rs m	17,924	22,166	23.7%
Gross profit	Rs m	1,800	2,911	61.7%
Depreciation	Rs m	185	221	18.9%
Interest	Rs m	530	689	29.9%
Profit before tax	Rs m	1,236	2,100	69.9%
Tax	Rs m	0	380	0.0
Profit after tax	Rs m	1,236	1,720	39.1%
Gross profit margin	%	10.1	13.2
Effective tax rate	%	0.0	18.1
Net profit margin	%	7.0	7.8

For Investors: Our Big Prediction

SCHNEIDER ELECTRIC INFRA Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 7 billion as compared to Rs 8 billion in FY23, thereby witnessing an decrease of -3.5%.
• Long-term debt stood at Rs 4 billion as compared to Rs 4 billion during FY23, a growth of 4.1%.
• Current assets rose 14% and stood at Rs 11 billion, while fixed assets rose 22% and stood at Rs 5 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 16 billion as against Rs 14 billion during FY23, thereby witnessing a growth of 17%.

SCHNEIDER ELECTRIC INFRA Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,377	2,828	105.4
Current Liabilities	Rs m	7,712	7,445	-3.5
Long-term Debt	Rs m	3,968	4,133	4.1
Total Liabilities	Rs m	13,560	15,815	16.6
Current assets	Rs m	9,402	10,749	14.3
Fixed Assets	Rs m	4,158	5,066	21.8
Total Assets	Rs m	13,560	15,815	16.6

SCHNEIDER ELECTRIC INFRA Cash Flow Statement Analysis

• SCHNEIDER ELECTRIC INFRA's cash flow from operating activities (CFO) during FY24 stood at Rs 2 billion, an improvement of 119.1% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -570 million, an improvement of 51.6% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -1 billion on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 277 million from the Rs -166 million net cash flows seen during FY23.

SCHNEIDER ELECTRIC INFRA 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	876	1,919	119.1%
Cash Flow from Investing Activities	Rs m	-376	-570	-
Cash Flow from Financing Activities	Rs m	-636	-1,070	-
Net Cash Flow	Rs m	-166	277	-

Current Valuations for SCHNEIDER ELECTRIC INFRA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 7.2, an improvement from the EPS of Rs 5.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 836.9, stands at 107.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 70.8 times, while the price to sales ratio stands at 9.1 times.
• The company's price to cash flow (P/CF) ratio stood at 55.7 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	74.3	92.3
TTM Earnings per share	Rs	5.2	7.2
Diluted earnings per share	Rs	5.2	7.2
Price to Cash Flow	x	26.2	55.7
TTM P/E ratio	x	30.1	107.8
Price / Book Value ratio	x	26.2	38.2
Market Cap	Rs m	36,093	108,045
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for SCHNEIDER ELECTRIC INFRA

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.4x during FY24, from 1.2x 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 4.0x during FY24, from 3.3x 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 60.8% during FY24, from 89.8% 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 40.1% during FY24, from 33.1% 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 15.2% during FY24, from 13.0% 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	1.2	1.4
Debtors’ Days	Days	1,121	1,085
Interest coverage	x	3.3	4.0
Debt to equity ratio	x	2.9	1.5
Return on assets	%	13.0	15.2
Return on equity	%	89.8	60.8
Return on capital employed	%	33.1	40.1

To see how SCHNEIDER ELECTRIC INFRA has performed over the last 5 years, please visit here.

SCHNEIDER ELECTRIC INFRA Share Price Performance

Over the last one year, SCHNEIDER ELECTRIC INFRA share price has moved up from Rs 315.2 to Rs 836.9, registering a gain of Rs 521.7 or around 165.5%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 72,656.0 (up 0.2%). Over the last one year it has moved up from 43,417.3 to 72,656.0, a gain of 29,239 points (up 67.3%).

Overall, the S&P BSE SENSEX is up 21.4% over the year.

(To know more, check out historical annual results for SCHNEIDER ELECTRIC INFRA and quarterly results for SCHNEIDER ELECTRIC INFRA)