VINNY OVERSEAS 2022-23 Annual Report Analysis

Tue, 20 Feb

VINNY OVERSEAS 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.

VINNY OVERSEAS Income Statement Analysis

• Operating income during the year fell 3.2% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a fall and down at 7.9% in FY23 as against 1.6% in FY22.
• Depreciation charges increased by 48.3% and finance costs decreased by 26.2% YoY, respectively.
• Other income grew by 67.9% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 4.1% in FY22 to 2.3% in FY23.

VINNY OVERSEAS Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	1,100	1,064	-3.2%
Other income	Rs m	1	2	67.9%
Total Revenues	Rs m	1,101	1,066	-3.2%
Gross profit	Rs m	-18	84	NA
Depreciation	Rs m	28	41	48.3%
Interest	Rs m	16	12	-26.2%
Profit before tax	Rs m	-60	34	NA
Tax	Rs m	-14	10	NA
Profit after tax	Rs m	-45	24	NA
Gross profit margin	%	-1.6	7.9
Effective tax rate	%	24.3	29.2
Net profit margin	%	-4.1	2.3

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

VINNY OVERSEAS Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 277 million as compared to Rs 240 million in FY22, thereby witnessing an increase of 15.3%.
• Long-term debt down at Rs 66 million as compared to Rs 68 million during FY22, a fall of 3.7%.
• Current assets rose 11% and stood at Rs 407 million, while fixed assets rose 10% and stood at Rs 221 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 628 million as against Rs 567 million during FY22, thereby witnessing a growth of 11%.

VINNY OVERSEAS Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	255	278	9.2
Current Liabilities	Rs m	240	277	15.3
Long-term Debt	Rs m	68	66	-3.7
Total Liabilities	Rs m	567	628	10.8
Current assets	Rs m	366	407	11.2
Fixed Assets	Rs m	201	221	10.1
Total Assets	Rs m	567	628	10.8

VINNY OVERSEAS Cash Flow Statement Analysis

• VINNY OVERSEAS's cash flow from operating activities (CFO) during FY23 stood at Rs 47 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -67 million, an improvement of 142.3% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 20 million, an improvement of 119% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 0 million from the Rs 0 million net cash flows seen during FY22.

VINNY OVERSEAS 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	133	47	-64.4%
Cash Flow from Investing Activities	Rs m	-28	-67	-
Cash Flow from Financing Activities	Rs m	-105	20	-
Net Cash Flow	Rs m	0	0	-50.0%

Current Valuations for VINNY OVERSEAS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.1, an improvement from the EPS of Rs -4.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 0.0, 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 290.2 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	119.7	4.6
TTM Earnings per share	Rs	-4.9	0.1
Diluted earnings per share	Rs	-0.2	0.1
Price to Cash Flow	x	0.0	290.2
TTM P/E ratio	x	0.0	0.0
Price / Book Value ratio	x	1.9	67.7
Market Cap	Rs m	490	18,819
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for VINNY OVERSEAS

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.5x during FY23, from 1.5x 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 improved and stood at 3.9x during FY23, from -2.8x 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 improved and stood at 8.7% during FY23, from -17.7% 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 13.3% during FY23, from -13.6% 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 5.7% during FY23, from -5.2% 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	1.5	1.5
Debtors’ Days	Days	630	753
Interest coverage	x	-2.8	3.9
Debt to equity ratio	x	0.3	0.2
Return on assets	%	-5.2	5.7
Return on equity	%	-17.7	8.7
Return on capital employed	%	-13.6	13.3

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

VINNY OVERSEAS Share Price Performance

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(To know more, check out historical annual results for VINNY OVERSEAS and quarterly results for VINNY OVERSEAS)