TAPARIA TOOL 2022-23 Annual Report Analysis

Tue, 20 Jun

TAPARIA TOOL 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.

TAPARIA TOOL Income Statement Analysis

• Operating income during the year rose 14.5% on a year-on-year (YoY) basis.
• The company's operating profit increased by 7.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 12.3% in FY23 as against 13.1% in FY22.
• Depreciation charges decreased by 6.9% and finance costs increased by 62.8% YoY, respectively.
• Other income grew by 132.0% YoY.
• Net profit for the year grew by 11.1% YoY.
• Net profit margins during the year declined from 9.7% in FY22 to 9.5% in FY23.

TAPARIA TOOL Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	6,676	7,645	14.5%
Other income	Rs m	19	44	132.0%
Total Revenues	Rs m	6,695	7,689	14.8%
Gross profit	Rs m	874	942	7.8%
Depreciation	Rs m	18	16	-6.9%
Interest	Rs m	1	2	62.8%
Profit before tax	Rs m	874	967	10.7%
Tax	Rs m	223	244	9.4%
Profit after tax	Rs m	651	723	11.1%
Gross profit margin	%	13.1	12.3
Effective tax rate	%	25.5	25.2
Net profit margin	%	9.7	9.5

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TAPARIA TOOL Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 752 million as compared to Rs 760 million in FY22, thereby witnessing an decrease of -1.0%.
• Current assets rose 11% and stood at Rs 3 billion, while fixed assets rose 2% and stood at Rs 230 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 3 billion as against Rs 3 billion during FY22, thereby witnessing a growth of 10%.

TAPARIA TOOL Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	2,378	2,704	13.7
Current Liabilities	Rs m	760	752	-1.0
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	3,169	3,491	10.2
Current assets	Rs m	2,943	3,261	10.8
Fixed Assets	Rs m	226	230	2.1
Total Assets	Rs m	3,169	3,491	10.2

TAPARIA TOOL Cash Flow Statement Analysis

• TAPARIA TOOL's cash flow from operating activities (CFO) during FY23 stood at Rs 847 million, an improvement of 148.3% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -438 million, an improvement of 302.2% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -400 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 9 million from the Rs -139 million net cash flows seen during FY22.

TAPARIA TOOL 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	341	847	148.3%
Cash Flow from Investing Activities	Rs m	-109	-438	-
Cash Flow from Financing Activities	Rs m	-372	-400	-
Net Cash Flow	Rs m	-139	9	-

Current Valuations for TAPARIA TOOL

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 237.9, an improvement from the EPS of Rs 214.1 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 11.6, stands at 0.0 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.0 times, while the price to sales ratio stands at 0.0 times.
• The company's price to cash flow (P/CF) ratio stood at 0.0 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	2,196.1	2,514.8
TTM Earnings per share	Rs	214.1	237.9
Diluted earnings per share	Rs	214.4	238.2
Price to Cash Flow	x	0.1	0.0
TTM P/E ratio	x	0.1	0.0
Price / Book Value ratio	x	0.1	0.0
Market Cap	Rs m	167	34
Dividends per share (Unadj.)	Rs	172.5	155.0

Ratio Analysis for TAPARIA TOOL

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 4.3x during FY23, from 3.9x 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 deteriorated and stood at 526.7x during FY23, from 774.4x 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 26.7% during FY23, from 27.4% 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 35.8% during FY23, from 36.8% 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 improved and stood at 20.8% during FY23, from 20.6% 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	3.9	4.3
Debtors’ Days	Days	334	315
Interest coverage	x	774.4	526.7
Debt to equity ratio	x	0.0	0.0
Return on assets	%	20.6	20.8
Return on equity	%	27.4	26.7
Return on capital employed	%	36.8	35.8

To see how TAPARIA TOOL has performed over the last 5 years, please visit here.

TAPARIA TOOL Share Price Performance

Over the last one year, TAPARIA TOOL share price has moved up from Rs 0.0 to Rs 11.6, registering a gain of Rs 11.6 or around 0.0%.

Overall, the S&P BSE SENSEX is up 22.4% over the year.

(To know more, check out historical annual results for TAPARIA TOOL and quarterly results for TAPARIA TOOL)