VERTOZ ADVERTISING 2023-24 Annual Report Analysis

Tue, 16 Jul

VERTOZ ADVERTISING 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.

VERTOZ ADVERTISING Income Statement Analysis

• Operating income during the year rose 87.6% on a year-on-year (YoY) basis.
• The company's operating profit increased by 23.3% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 14.0% in FY24 as against 21.3% in FY23.
• Depreciation charges increased by 117.1% and finance costs decreased by 12.2% YoY, respectively.
• Other income grew by 66.8% YoY.
• Net profit for the year grew by 46.0% YoY.
• Net profit margins during the year declined from 13.3% in FY23 to 10.4% in FY24.

VERTOZ ADVERTISING Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	828	1,554	87.6%
Other income	Rs m	9	16	66.8%
Total Revenues	Rs m	838	1,569	87.4%
Gross profit	Rs m	176	217	23.3%
Depreciation	Rs m	26	57	117.1%
Interest	Rs m	20	18	-12.2%
Profit before tax	Rs m	139	158	13.8%
Tax	Rs m	29	-3	NA
Profit after tax	Rs m	110	161	46.0%
Gross profit margin	%	21.3	14.0
Effective tax rate	%	20.7	-1.7
Net profit margin	%	13.3	10.4

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

VERTOZ ADVERTISING Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 375 million as compared to Rs 266 million in FY23, thereby witnessing an increase of 40.9%.
• Long-term debt stood at Rs 3 million as compared to Rs 2 million during FY23, a growth of 51.8%.
• Current assets rose 36% and stood at Rs 981 million, while fixed assets rose 71% and stood at Rs 995 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 2 billion as against Rs 1 billion during FY23, thereby witnessing a growth of 52%.

VERTOZ ADVERTISING Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	822	1,539	87.3
Current Liabilities	Rs m	266	375	40.9
Long-term Debt	Rs m	2	3	51.8
Total Liabilities	Rs m	1,302	1,976	51.8
Current assets	Rs m	719	981	36.4
Fixed Assets	Rs m	583	995	70.7
Total Assets	Rs m	1,302	1,976	51.8

VERTOZ ADVERTISING Cash Flow Statement Analysis

• VERTOZ ADVERTISING 's cash flow from operating activities (CFO) during FY24 stood at Rs 71 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -441 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 413 million, an improvement of 128% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 44 million from the Rs 34 million net cash flows seen during FY23.

VERTOZ ADVERTISING 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	-154	71	-
Cash Flow from Investing Activities	Rs m	7	-441	-
Cash Flow from Financing Activities	Rs m	181	413	128.3%
Net Cash Flow	Rs m	34	44	27.7%

Current Valuations for VERTOZ ADVERTISING

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.8, an decline from the EPS of Rs 9.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 38.4, stands at 183.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 21.3 times, while the price to sales ratio stands at 1.0 times.
• The company's price to cash flow (P/CF) ratio stood at 106.6 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	69.2	37.0
TTM Earnings per share	Rs	9.2	3.8
Diluted earnings per share	Rs	0.1	0.2
Price to Cash Flow	x	0.0	106.6
TTM P/E ratio	x	0.0	183.1
Price / Book Value ratio	x	2.4	15.1
Market Cap	Rs m	1,977	23,249
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for VERTOZ ADVERTISING

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 2.6x during FY24, from 2.7x 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 9.9x during FY24, from 7.9x 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 10.5% during FY24, from 13.4% 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 11.4% during FY24, from 19.4% 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 9.1% during FY24, from 10.0% 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	2.7	2.6
Debtors’ Days	Days	1,662	1,250
Interest coverage	x	7.9	9.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	10.0	9.1
Return on equity	%	13.4	10.5
Return on capital employed	%	19.4	11.4

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

VERTOZ ADVERTISING Share Price Performance

Over the last one year, VERTOZ ADVERTISING share price has moved down from Rs 0.0 to Rs 0.0, registering a loss of Rs 0.0 or around 0.0%.

Overall, the NIFTY 50 is up 0.1% over the year.

(To know more, check out historical annual results for VERTOZ ADVERTISING and quarterly results for VERTOZ ADVERTISING )