V B INDUSTRIES 2022-23 Annual Report Analysis

Thu, 22 Jun

V B INDUSTRIES 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.

V B INDUSTRIES Income Statement Analysis

• Operating income during the year fell 82.6% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and stood at 381.4% in FY23 as against 54.3% in FY22.
• Depreciation charges increased by 0.0% and finance costs decreased by 100.0% YoY, respectively.
• Other income grew by 29.6% YoY.
• Net profit for the year grew by 208.1% YoY.
• Net profit margins during the year grew from 1.6% in FY22 to 27.6% in FY23.

V B INDUSTRIES Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	24	4	-82.6%
Other income	Rs m	13	17	29.6%
Total Revenues	Rs m	37	21	-42.2%
Gross profit	Rs m	-13	-16	NA
Depreciation	Rs m	0	0	0.0%
Interest	Rs m	0	0	-100.0%
Profit before tax	Rs m	0	1	236.4%
Tax	Rs m	0	0	385.7%
Profit after tax	Rs m	0	1	208.1%
Gross profit margin	%	-54.3	-381.4
Effective tax rate	%	15.9	23.0
Net profit margin	%	1.6	27.6

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

V B INDUSTRIES Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 77 million as compared to Rs 62 million in FY22, thereby witnessing an increase of 25.7%.
• Current assets rose 1% and stood at Rs 1 billion, while fixed assets rose 9,800% and stood at Rs 2 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 1 billion as against Rs 1 billion during FY22, thereby witnessing a growth of 2%.

V B INDUSTRIES Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	950	951	0.1
Current Liabilities	Rs m	62	77	25.7
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	1,011	1,028	1.7
Current assets	Rs m	1,011	1,026	1.5
Fixed Assets	Rs m	0	2	9,800.0
Total Assets	Rs m	1,011	1,028	1.7

V B INDUSTRIES Cash Flow Statement Analysis

• V B INDUSTRIES 's cash flow from operating activities (CFO) during FY23 stood at Rs 6 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 0 million, an improvement of 0.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 0 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 6 million from the Rs -4 million net cash flows seen during FY22.

V B INDUSTRIES 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	-4	6	-
Cash Flow from Investing Activities	Rs m	0	0	0.0%
Cash Flow from Financing Activities	Rs m	0	0	0.0%
Net Cash Flow	Rs m	-4	6	-

Current Valuations for V B INDUSTRIES

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.1, an improvement from the EPS of Rs 0.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 4.4, stands at 50.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.1 times, while the price to sales ratio stands at 14.0 times.
• The company's price to cash flow (P/CF) ratio stood at 96.9 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	1.8	0.3
TTM Earnings per share	Rs	0.0	0.1
Diluted earnings per share	Rs	0.0	0.1
Price to Cash Flow	x	182.8	96.9
TTM P/E ratio	x	171.4	50.7
Price / Book Value ratio	x	0.0	0.1
Market Cap	Rs m	39	111
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for V B INDUSTRIES

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 13.3x during FY23, from 16.4x during FY22. The current ratio measures the company's ability to pay short-term and long-term obligations.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company improved and stood at 0.1% during FY23, from 0.0% 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 improved and stood at 0.2% during FY23, from 0.0% 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 0.1% during FY23, from 0.0% 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	16.4	13.3
Debtors’ Days	Days	37,205	216,350
Interest coverage	x	44.0	0.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	0.0	0.1
Return on equity	%	0.0	0.1
Return on capital employed	%	0.0	0.2

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

V B INDUSTRIES Share Price Performance

Over the last one year, V B INDUSTRIES share price has moved down from Rs 5.0 to Rs 4.4, registering a loss of Rs 0.6 or around 11.4%.

Overall, the S&P BSE SENSEX is up 22.6% over the year.

(To know more, check out historical annual results for V B INDUSTRIES and quarterly results for V B INDUSTRIES )