S V GLOBAL 2022-23 Annual Report Analysis

Fri, 23 Jun

S V GLOBAL 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.

S V GLOBAL Income Statement Analysis

• Operating income during the year rose 6.2% on a year-on-year (YoY) basis.
• The company's operating profit increased by 1.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 19.1% in FY23 as against 20.1% in FY22.
• Depreciation charges increased by 20.4% increased by 0.0% YoY, respectively.
• Other income declined by 78.1% YoY.
• Net profit for the year declined by 83.8% YoY.
• Net profit margins during the year declined from 10.3% in FY22 to 1.6% in FY23.

S V GLOBAL Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	65	69	6.2%
Other income	Rs m	9	2	-78.1%
Total Revenues	Rs m	73	71	-3.6%
Gross profit	Rs m	13	13	1.0%
Depreciation	Rs m	3	4	20.4%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	18	11	-39.8%
Tax	Rs m	12	10	-14.7%
Profit after tax	Rs m	7	1	-83.8%
Gross profit margin	%	20.1	19.1
Effective tax rate	%	63.7	90.2
Net profit margin	%	10.3	1.6

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

S V GLOBAL Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 8 million as compared to Rs 10 million in FY22, thereby witnessing an decrease of -17.8%.
• Long-term debt stood at Rs 2 million as compared to Rs 0 million during FY22, a fall of 0.0%.
• Current assets fell 1% and stood at Rs 565 million, while fixed assets rose 8% and stood at Rs 96 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 662 million as against Rs 660 million during FY22, thereby witnessing a growth of 0%.

S V GLOBAL Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	646	647	0.2
Current Liabilities	Rs m	10	8	-17.8
Long-term Debt	Rs m	0	2	0.0
Total Liabilities	Rs m	660	662	0.3
Current assets	Rs m	570	565	-0.9
Fixed Assets	Rs m	89	96	7.9
Total Assets	Rs m	660	662	0.3

S V GLOBAL Cash Flow Statement Analysis

• S V GLOBAL's cash flow from operating activities (CFO) during FY23 stood at Rs 9 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -10 million, an improvement of 95.1% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 2 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 1 million from the Rs -89 million net cash flows seen during FY22.

S V GLOBAL 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	-84	9	-
Cash Flow from Investing Activities	Rs m	-5	-10	-
Cash Flow from Financing Activities	Rs m	0	2	0.0%
Net Cash Flow	Rs m	-89	1	-

Current Valuations for S V GLOBAL

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.1, an decline from the EPS of Rs 0.4 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 66.0, stands at 1,094.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.8 times, while the price to sales ratio stands at 17.4 times.
• The company's price to cash flow (P/CF) ratio stood at 210.6 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	3.6	3.8
TTM Earnings per share	Rs	0.4	0.1
Diluted earnings per share	Rs	0.4	0.1
Price to Cash Flow	x	110.1	210.6
TTM P/E ratio	x	160.1	1,094.4
Price / Book Value ratio	x	1.7	1.6
Market Cap	Rs m	1,085	1,033
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for S V GLOBAL

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 72.4x during FY23, from 60.0x 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 123.8x during FY23, from 0.0x 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 declined and down at 0.2% during FY23, from 1.0% 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 declined and down at 1.7% during FY23, from 2.8% 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 declined and down at 0.2% during FY23, from 1.0% 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	60.0	72.4
Debtors’ Days	Days	19,190	18,386
Interest coverage	x	0.0	123.8
Debt to equity ratio	x	0.0	0.0
Return on assets	%	1.0	0.2
Return on equity	%	1.0	0.2
Return on capital employed	%	2.8	1.7

To see how S V GLOBAL has performed over the last 5 years, please visit here.

S V GLOBAL Share Price Performance

Over the last one year, S V GLOBAL share price has moved up from Rs 50.7 to Rs 66.0, registering a gain of Rs 15.3 or around 30.2%.

Overall, the S&P BSE SENSEX is up 20.2% over the year.

(To know more, check out historical annual results for S V GLOBAL and quarterly results for S V GLOBAL)