TUTICORIN. 2023-24 Annual Report Analysis

Thu, 22 Aug

TUTICORIN. 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.

TUTICORIN. Income Statement Analysis

• Operating income during the year fell 37.3% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 14.4% YoY during the fiscal. Operating profit margins witnessed a fall and down at 22.3% in FY24 as against 16.3% in FY23.
• Depreciation charges increased by 11.9% and finance costs decreased by 3.5% YoY, respectively.
• Other income grew by 8.6% YoY.
• Net profit for the year declined by 31.2% YoY.
• Net profit margins during the year grew from 19.8% in FY23 to 21.7% in FY24.

TUTICORIN. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	5,110	3,204	-37.3%
Other income	Rs m	22	23	8.6%
Total Revenues	Rs m	5,131	3,227	-37.1%
Gross profit	Rs m	835	715	-14.4%
Depreciation	Rs m	37	41	11.9%
Interest	Rs m	32	31	-3.5%
Profit before tax	Rs m	788	666	-15.4%
Tax	Rs m	-224	-30	NA
Profit after tax	Rs m	1,012	696	-31.2%
Gross profit margin	%	16.3	22.3
Effective tax rate	%	-28.5	-4.5
Net profit margin	%	19.8	21.7

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TUTICORIN. Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 2 billion as compared to Rs 2 billion in FY23, thereby witnessing an decrease of -38.7%.
• Current assets fell 62% and stood at Rs 843 million, while fixed assets rose 5% and stood at Rs 3 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 4 billion as against Rs 5 billion during FY23, thereby witnessing a fall of 22%.

TUTICORIN. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	97	792	718.6
Current Liabilities	Rs m	2,482	1,520	-38.7
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	5,382	4,174	-22.4
Current assets	Rs m	2,198	843	-61.6
Fixed Assets	Rs m	3,184	3,331	4.6
Total Assets	Rs m	5,382	4,174	-22.4

TUTICORIN. Cash Flow Statement Analysis

• TUTICORIN.'s cash flow from operating activities (CFO) during FY24 stood at Rs 129 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -153 million, an improvement of 51.2% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 24 million, an improvement of 153% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 0 million from the Rs -8 million net cash flows seen during FY23.

TUTICORIN. 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	139	129	-7.2%
Cash Flow from Investing Activities	Rs m	-102	-153	-
Cash Flow from Financing Activities	Rs m	-46	24	-
Net Cash Flow	Rs m	-8	0	-

Current Valuations for TUTICORIN.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 5.7, an decline from the EPS of Rs 8.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 89.6, stands at 12.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 13.8 times, while the price to sales ratio stands at 3.4 times.
• The company's price to cash flow (P/CF) ratio stood at 13.7 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	41.9	26.3
TTM Earnings per share	Rs	8.3	5.7
Diluted earnings per share	Rs	8.3	5.7
Price to Cash Flow	x	5.9	13.7
TTM P/E ratio	x	6.5	12.6
Price / Book Value ratio	x	62.4	12.7
Market Cap	Rs m	6,031	10,085
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for TUTICORIN.

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 0.6x during FY24, from 0.9x 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 22.5x during FY24, from 25.5x 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 87.9% during FY24, from 1,046.2% 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 88.1% during FY24, from 847.6% 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 17.4% during FY24, from 19.4% 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	0.9	0.6
Debtors’ Days	Days	1,243	279
Interest coverage	x	25.5	22.5
Debt to equity ratio	x	0.0	0.0
Return on assets	%	19.4	17.4
Return on equity	%	1,046.2	87.9
Return on capital employed	%	847.6	88.1

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

TUTICORIN. Share Price Performance

Over the last one year, TUTICORIN. share price has moved up from Rs 59.2 to Rs 89.6, registering a gain of Rs 30.4 or around 51.4%.

Overall, the S&P BSE SENSEX is up 24.3% over the year.

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