WONDER FIBROMATS 2023-24 Annual Report Analysis

Thu, 14 Nov

WONDER FIBROMATS 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.

WONDER FIBROMATS Income Statement Analysis

• Operating income during the year rose 41.6% on a year-on-year (YoY) basis.
• The company's operating profit increased by 42.6% YoY during the fiscal. Operating profit margins witnessed a fall and down at 4.3% in FY24 as against 4.3% in FY23.
• Depreciation charges increased by 7.3% and finance costs increased by 45.3% YoY, respectively.
• Other income grew by 40.9% YoY.
• Net profit for the year grew by 61.4% YoY.
• Net profit margins during the year grew from 1.6% in FY23 to 1.8% in FY24.

WONDER FIBROMATS Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	4,025	5,700	41.6%
Other income	Rs m	0	0	40.9%
Total Revenues	Rs m	4,025	5,700	41.6%
Gross profit	Rs m	173	246	42.6%
Depreciation	Rs m	54	58	7.3%
Interest	Rs m	30	43	45.3%
Profit before tax	Rs m	89	145	63.3%
Tax	Rs m	26	44	67.7%
Profit after tax	Rs m	63	102	61.4%
Gross profit margin	%	4.3	4.3
Effective tax rate	%	29.3	30.1
Net profit margin	%	1.6	1.8

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WONDER FIBROMATS Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 3 billion as compared to Rs 2 billion in FY23, thereby witnessing an increase of 54.2%.
• Long-term debt stood at Rs 67 million as compared to Rs 54 million during FY23, a growth of 22.3%.
• Current assets rose 50% and stood at Rs 3 billion, while fixed assets rose 63% and stood at Rs 546 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 4 billion as against Rs 2 billion during FY23, thereby witnessing a growth of 51%.

WONDER FIBROMATS Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	596	879	47.4
Current Liabilities	Rs m	1,670	2,575	54.2
Long-term Debt	Rs m	54	67	22.3
Total Liabilities	Rs m	2,326	3,522	51.4
Current assets	Rs m	1,987	2,973	49.7
Fixed Assets	Rs m	335	546	62.9
Total Assets	Rs m	2,326	3,522	51.4

WONDER FIBROMATS Cash Flow Statement Analysis

• WONDER FIBROMATS's cash flow from operating activities (CFO) during FY24 stood at Rs -174 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -59 million, an improvement of 12.8% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 272 million, an improvement of 805% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 39 million from the Rs 1 million net cash flows seen during FY23.

WONDER FIBROMATS 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	24	-174	-
Cash Flow from Investing Activities	Rs m	-52	-59	-
Cash Flow from Financing Activities	Rs m	30	272	805.5%
Net Cash Flow	Rs m	1	39	2,978.9%

Current Valuations for WONDER FIBROMATS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 7.6, an improvement from the EPS of Rs 4.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 218.6, stands at 261.3 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 33.3 times, while the price to sales ratio stands at 0.5 times.
• The company's price to cash flow (P/CF) ratio stood at 183.5 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	300.4	425.4
TTM Earnings per share	Rs	4.7	7.6
Diluted earnings per share	Rs	0.5	0.8
Price to Cash Flow	x	0.0	183.5
TTM P/E ratio	x	0.0	261.3
Price / Book Value ratio	x	4.3	0.0
Market Cap	Rs m	2,554	29,287
Dividends per share (Unadj.)	Rs	0.0	0.2

Ratio Analysis for WONDER FIBROMATS

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.2x during FY24, from 1.2x 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 4.3x during FY24, from 4.0x 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 improved and stood at 11.6% during FY24, from 10.6% 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 improved and stood at 20.0% during FY24, from 18.3% 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 improved and stood at 4.1% during FY24, from 4.0% 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	1.2	1.2
Debtors’ Days	Days	1,418	1,413
Interest coverage	x	4.0	4.3
Debt to equity ratio	x	0.1	0.1
Return on assets	%	4.0	4.1
Return on equity	%	10.6	11.6
Return on capital employed	%	18.3	20.0

To see how WONDER FIBROMATS has performed over the last 5 years, please visit here.

WONDER FIBROMATS Share Price Performance

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(To know more, check out historical annual results for WONDER FIBROMATS and quarterly results for WONDER FIBROMATS)