VISHNU PRAKASH 2023-24 Annual Report Analysis

Mon, 2 Sep

VISHNU PRAKASH 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.

VISHNU PRAKASH Income Statement Analysis

• Operating income during the year rose 26.1% on a year-on-year (YoY) basis.
• The company's operating profit increased by 34.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 14.3% in FY24 as against 13.4% in FY23.
• Depreciation charges increased by 60.2% and finance costs increased by 43.1% YoY, respectively.
• Other income grew by 187.0% YoY.
• Net profit for the year grew by 34.8% YoY.
• Net profit margins during the year grew from 7.8% in FY23 to 8.3% in FY24.

VISHNU PRAKASH Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	11,684	14,739	26.1%
Other income	Rs m	31	88	187.0%
Total Revenues	Rs m	11,715	14,826	26.6%
Gross profit	Rs m	1,566	2,102	34.2%
Depreciation	Rs m	70	112	60.2%
Interest	Rs m	303	433	43.1%
Profit before tax	Rs m	1,224	1,645	34.4%
Tax	Rs m	318	423	33.1%
Profit after tax	Rs m	906	1,222	34.8%
Gross profit margin	%	13.4	14.3
Effective tax rate	%	26.0	25.7
Net profit margin	%	7.8	8.3

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VISHNU PRAKASH Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 8 billion as compared to Rs 4 billion in FY23, thereby witnessing an increase of 77.1%.
• Long-term debt down at Rs 250 million as compared to Rs 603 million during FY23, a fall of 58.5%.
• Current assets rose 100% and stood at Rs 13 billion, while fixed assets rose 30% and stood at Rs 2 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 15 billion as against Rs 8 billion during FY23, thereby witnessing a growth of 87%.

VISHNU PRAKASH Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	3,145	7,211	129.3
Current Liabilities	Rs m	4,466	7,907	77.1
Long-term Debt	Rs m	603	250	-58.5
Total Liabilities	Rs m	8,255	15,418	86.8
Current assets	Rs m	6,731	13,432	99.6
Fixed Assets	Rs m	1,524	1,986	30.3
Total Assets	Rs m	8,255	15,418	86.8

VISHNU PRAKASH Cash Flow Statement Analysis

• VISHNU PRAKASH's cash flow from operating activities (CFO) during FY24 stood at Rs -3 billion, an improvement of 3,662.0% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -322 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 4 billion, an improvement of 258% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 381 million from the Rs 18 million net cash flows seen during FY23.

VISHNU PRAKASH 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	-84	-3,162	-
Cash Flow from Investing Activities	Rs m	-979	-322	-
Cash Flow from Financing Activities	Rs m	1,081	3,865	257.7%
Net Cash Flow	Rs m	18	381	2,004.1%

Current Valuations for VISHNU PRAKASH

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.8, an improvement from the EPS of Rs 9.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 242.3, stands at 25.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 4.2 times, while the price to sales ratio stands at 2.0 times.
• The company's price to cash flow (P/CF) ratio stood at 17.9 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	125.0	118.2
TTM Earnings per share	Rs	9.7	9.8
Diluted earnings per share	Rs	7.3	9.8
Price to Cash Flow	x	0.0	17.9
TTM P/E ratio	x	0.0	25.1
Price / Book Value ratio	x	0.0	3.3
Market Cap	Rs m	0	23,919
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for VISHNU PRAKASH

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.7x during FY24, from 1.5x 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 4.8x during FY24, from 5.0x 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 16.9% during FY24, from 28.8% 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 27.9% during FY24, from 40.7% 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 declined and down at 10.7% during FY24, from 14.6% 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	1.5	1.7
Debtors’ Days	Days	62	166
Interest coverage	x	5.0	4.8
Debt to equity ratio	x	0.2	0.0
Return on assets	%	14.6	10.7
Return on equity	%	28.8	16.9
Return on capital employed	%	40.7	27.9

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

VISHNU PRAKASH Share Price Performance

Over the last one year, VISHNU PRAKASH share price has moved up from Rs 0.0 to Rs 242.3, registering a gain of Rs 242.3 or around 0.0%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 8,215.5 (down 0.2%). Over the last one year it has moved up from 4,511.3 to 8,215.5, a gain of 3,704 points (up 82.1%).

Overall, the S&P BSE SENSEX is up 26.8% over the year.

(To know more, check out historical annual results for VISHNU PRAKASH and quarterly results for VISHNU PRAKASH)