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TVS SRICHAKRA 2023-24 Annual Report Analysis
Wed, 21 Aug

TVS SRICHAKRA 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.

TVS SRICHAKRA Income Statement Analysis

  • Operating income during the year fell 2.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 27.9% YoY during the fiscal. Operating profit margins witnessed a fall and down at 10.0% in FY24 as against 7.6% in FY23.
  • Depreciation charges increased by 13.4% and finance costs increased by 9.3% YoY, respectively.
  • Other income declined by 27.7% YoY.
  • Net profit for the year grew by 38.5% YoY.
  • Net profit margins during the year grew from 2.6% in FY23 to 3.7% in FY24.

TVS SRICHAKRA Income Statement 2023-24

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Net Sales Rs m 29,850 29,260 -2.0%
Other income Rs m 92 66 -27.7%
Total Revenues Rs m 29,941 29,326 -2.1%
Gross profit Rs m 2,281 2,917 27.9%
Depreciation Rs m 915 1,038 13.4%
Interest Rs m 443 485 9.3%
Profit before tax Rs m 1,014 1,460 43.9%
Tax Rs m 236 383 61.9%
Profit after tax Rs m 778 1,078 38.5%
Gross profit margin % 7.6 10.0
Effective tax rate % 23.3 26.2
Net profit margin % 2.6 3.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

TVS SRICHAKRA Balance Sheet Analysis

  • The company's current liabilities during FY24 stood at Rs 10 billion as compared to Rs 10 billion in FY23, thereby witnessing an increase of 3.9%.
  • Long-term debt stood at Rs 4 billion as compared to Rs 3 billion during FY23, a growth of 33.1%.
  • Current assets rose 4% and stood at Rs 11 billion, while fixed assets rose 14% and stood at Rs 16 billion in FY24.
  • Overall, the total assets and liabilities for FY24 stood at Rs 27 billion as against Rs 25 billion during FY23, thereby witnessing a growth of 10%.

TVS SRICHAKRA Balance Sheet as on March 2024

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Networth Rs m 10,342 11,121 7.5
 
Current Liabilities Rs m 10,010 10,396 3.9
Long-term Debt Rs m 3,243 4,316 33.1
Total Liabilities Rs m 24,530 26,934 9.8
 
Current assets Rs m 10,646 11,053 3.8
Fixed Assets Rs m 13,884 15,881 14.4
Total Assets Rs m 24,530 26,934 9.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



TVS SRICHAKRA Cash Flow Statement Analysis

  • TVS SRICHAKRA's cash flow from operating activities (CFO) during FY24 stood at Rs 2 billion, an improvement of 10.9% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY24 stood at Rs -3 billion, an improvement of 61.1% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY24 stood at Rs 1 billion, an improvement of 37,256% on a YoY basis.
  • Overall, net cash flows for the company during FY24 stood at Rs 34 million from the Rs 38 million net cash flows seen during FY23.

TVS SRICHAKRA 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 2,056 2,280 10.9%
Cash Flow from Investing Activities Rs m -2,020 -3,255 -
Cash Flow from Financing Activities Rs m 3 1,009 37,255.6%
Net Cash Flow Rs m 38 34 -12.0%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for TVS SRICHAKRA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 140.7, an improvement from the EPS of Rs 101.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 4,494.2, stands at 36.8 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.1 times, while the price to sales ratio stands at 1.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 13.8 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 3,896.8 3,819.8
TTM Earnings per share Rs 101.6 140.7
Diluted earnings per share Rs 101.6 140.7
Price to Cash Flow x 11.5 13.8
TTM P/E ratio x 25.1 36.8
Price / Book Value ratio x 1.9 2.6
Market Cap Rs m 19,793 29,135
Dividends per share (Unadj.) Rs 32.1 47.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for TVS SRICHAKRA

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.1x during FY24, from 1.1x 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 improved and stood at 9.7% during FY24, from 7.5% 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 12.6% during FY24, from 10.7% 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 5.8% during FY24, from 5.0% 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 1.1 1.1
Debtors’ Days Days 3 4
Interest coverage x 3.3 4.0
Debt to equity ratio x 0.3 0.4
Return on assets % 5.0 5.8
Return on equity % 7.5 9.7
Return on capital employed % 10.7 12.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

TVS SRICHAKRA Share Price Performance

Over the last one year, TVS SRICHAKRA share price has moved up from Rs 2,773.3 to Rs 4,494.2, registering a gain of Rs 1,720.9 or around 62.1%.

Overall, the S&P BSE SENSEX is up 23.8% over the year.

(To know more, check out historical annual results for TVS SRICHAKRA and quarterly results for TVS SRICHAKRA)

Annual Report FAQs

What is the current share price of TVS SRICHAKRA?

TVS SRICHAKRA currently trades at Rs 3,591.4 per share. You can check out the latest share price performance of TVS SRICHAKRA here...

What was the revenue of TVS SRICHAKRA in FY24? How does it compare to earlier years?

The revenues of TVS SRICHAKRA stood at Rs 29,326 m in FY24, which was down -2.1% compared to Rs 29,941 m reported in FY23.

TVS SRICHAKRA's revenue has grown from Rs 21,139 m in FY20 to Rs 29,326 m in FY24.

Over the past 5 years, the revenue of TVS SRICHAKRA has grown at a CAGR of 8.5%.

What was the net profit of TVS SRICHAKRA in FY24? How does it compare to earlier years?

The net profit of TVS SRICHAKRA stood at Rs 1,078 m in FY24, which was up 38.5% compared to Rs 778 m reported in FY23.

This compares to a net profit of Rs 433 m in FY22 and a net profit of Rs 738 m in FY21.

Over the past 5 years, TVS SRICHAKRA net profit has grown at a CAGR of 7.0%.

What does the cash flow statement of TVS SRICHAKRA reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of TVS SRICHAKRA reveals:

  • Cash flow from operations increased in FY24 and stood at Rs 2,280 m as compared to Rs 2,056 m in FY23.
  • Cash flow from investments decreased in FY24 and stood at Rs -3,255 m as compared to Rs -2,020 m in FY23.
  • Cash flow from financial activity increased in FY24 and stood at Rs 1,009 m as compared to Rs 3 m in FY23.

Here's the cash flow statement of TVS SRICHAKRA for the past 5 years.

(Rs m)FY20FY21FY22FY23FY24
From Operations2,9953,074-6212,0562,280
From Investments-1,359-919-2,821-2,020-3,255
From Financial Activity-1,686-2,1483,48331,009
Net Cashflow-517403834

What does the Key Ratio analysis of TVS SRICHAKRA reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of TVS SRICHAKRA reveals:

  • Operating profit margins witnessed a fall and down at 10.0% in FY24 as against 7.6% in FY23.
  • Net profit margins grew from 2.6% in FY23 to 3.7% in FY24.
  • Debt to Equity ratio for FY24 stood at 0.4 as compared to 0.3 in FY23.

Here's the ratio/financial analysis of TVS SRICHAKRA for the past 5 years.

 FY20FY21FY22FY23FY24
Operating Profit Margin (%)10.311.96.67.610.0
Net Profit Margin (%)3.93.81.72.63.7
Debt to Equity Ratio (x)0.20.10.40.30.4

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