WENDT (INDIA) 2023-24 Annual Report Analysis

Tue, 2 Jul

WENDT (INDIA) 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.

WENDT (INDIA) Income Statement Analysis

• Operating income during the year rose 7.9% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 0.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 24.7% in FY24 as against 26.9% in FY23.
• Depreciation charges increased by 5.4% and finance costs decreased by 14.6% YoY, respectively.
• Other income grew by 39.1% YoY.
• Net profit for the year grew by 2.1% YoY.
• Net profit margins during the year declined from 19.1% in FY23 to 18.1% in FY24.

WENDT (INDIA) Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	2,102	2,268	7.9%
Other income	Rs m	51	71	39.1%
Total Revenues	Rs m	2,154	2,340	8.6%
Gross profit	Rs m	565	561	-0.8%
Depreciation	Rs m	81	86	5.4%
Interest	Rs m	5	4	-14.6%
Profit before tax	Rs m	530	542	2.2%
Tax	Rs m	129	133	2.6%
Profit after tax	Rs m	401	410	2.1%
Gross profit margin	%	26.9	24.7
Effective tax rate	%	24.4	24.5
Net profit margin	%	19.1	18.1

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WENDT (INDIA) Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 421 million as compared to Rs 382 million in FY23, thereby witnessing an increase of 10.2%.
• Current assets rose 11% and stood at Rs 2 billion, while fixed assets rose 15% and stood at Rs 692 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 3 billion as against Rs 2 billion during FY23, thereby witnessing a growth of 12%.

WENDT (INDIA) Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,887	2,121	12.4
Current Liabilities	Rs m	382	421	10.2
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	2,286	2,558	11.9
Current assets	Rs m	1,682	1,865	10.9
Fixed Assets	Rs m	604	692	14.7
Total Assets	Rs m	2,286	2,558	11.9

WENDT (INDIA) Cash Flow Statement Analysis

• WENDT (INDIA)'s cash flow from operating activities (CFO) during FY24 stood at Rs 298 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -84 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -160 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 47 million from the Rs -3 million net cash flows seen during FY23.

WENDT (INDIA) 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	330	298	-9.7%
Cash Flow from Investing Activities	Rs m	-179	-84	-
Cash Flow from Financing Activities	Rs m	-160	-160	-
Net Cash Flow	Rs m	-3	47	-

Current Valuations for WENDT (INDIA)

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 204.8, an improvement from the EPS of Rs 200.5 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 15,600.0, stands at 76.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 14.7 times, while the price to sales ratio stands at 13.8 times.
• The company's price to cash flow (P/CF) ratio stood at 48.0 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	1,051.2	1,134.2
TTM Earnings per share	Rs	200.5	204.8
Diluted earnings per share	Rs	200.5	204.8
Price to Cash Flow	x	35.1	48.0
TTM P/E ratio	x	42.1	76.2
Price / Book Value ratio	x	7.5	11.2
Market Cap	Rs m	14,183	23,760
Dividends per share (Unadj.)	Rs	80.0	50.0

Ratio Analysis for WENDT (INDIA)

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 4.4x during FY24, from 4.4x 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 133.2x during FY24, from 111.5x 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 19.3% during FY24, from 21.2% 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 25.8% during FY24, from 28.4% 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 16.2% during FY24, from 17.7% 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	4.4	4.4
Debtors’ Days	Days	700	861
Interest coverage	x	111.5	133.2
Debt to equity ratio	x	0.0	0.0
Return on assets	%	17.7	16.2
Return on equity	%	21.2	19.3
Return on capital employed	%	28.4	25.8

To see how WENDT (INDIA) has performed over the last 5 years, please visit here.

WENDT (INDIA) Share Price Performance

Over the last one year, WENDT (INDIA) share price has moved up from Rs 10,327.8 to Rs 15,600.0, registering a gain of Rs 5,272.3 or around 51.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 73,044.9 (up 0.4%). Over the last one year it has moved up from 40,725.8 to 73,044.9, a gain of 32,319 points (up 79.4%).

Overall, the S&P BSE SENSEX is up 24.3% over the year.

(To know more, check out historical annual results for WENDT (INDIA) and quarterly results for WENDT (INDIA))