63 MOONS TECH 2023-24 Annual Report Analysis

Mon, 14 Oct

63 MOONS TECH 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.

63 MOONS TECH Income Statement Analysis

• Operating income during the year rose 57.0% 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 32.0% in FY24 as against 23.6% in FY23.
• Depreciation charges decreased by 44.9% and finance costs increased by 41.3% YoY, respectively.
• Other income grew by 23.6% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 7.5% in FY23 to 59.1% in FY24.

63 MOONS TECH Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	2,901	4,553	57.0%
Other income	Rs m	1,120	1,384	23.6%
Total Revenues	Rs m	4,021	5,937	47.7%
Gross profit	Rs m	-684	1,459	NA
Depreciation	Rs m	234	129	-44.9%
Interest	Rs m	6	9	41.3%
Profit before tax	Rs m	195	2,705	1,283.9%
Tax	Rs m	414	13	-96.8%
Profit after tax	Rs m	-218	2,692	NA
Gross profit margin	%	-23.6	32.0
Effective tax rate	%	211.6	0.5
Net profit margin	%	-7.5	59.1

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63 MOONS TECH Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 1 billion as compared to Rs 4 billion in FY23, thereby witnessing an decrease of -58.4%.
• Current assets fell 31% and stood at Rs 14 billion, while fixed assets rose 14% and stood at Rs 16 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 30 billion as against Rs 34 billion during FY23, thereby witnessing a fall of 12%.

63 MOONS TECH Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	31,140	28,760	-7.6
Current Liabilities	Rs m	3,550	1,476	-58.4
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	34,183	29,939	-12.4
Current assets	Rs m	20,089	13,843	-31.1
Fixed Assets	Rs m	14,095	16,096	14.2
Total Assets	Rs m	34,183	29,939	-12.4

63 MOONS TECH Cash Flow Statement Analysis

• 63 MOONS TECH's cash flow from operating activities (CFO) during FY24 stood at Rs 1 billion, an improvement of 99.7% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -2 billion on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -25 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -141 million from the Rs 1 billion net cash flows seen during FY23.

63 MOONS TECH 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	707	1,412	99.7%
Cash Flow from Investing Activities	Rs m	500	-1,529	-
Cash Flow from Financing Activities	Rs m	189	-25	-
Net Cash Flow	Rs m	1,396	-141	-

Current Valuations for 63 MOONS TECH

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 58.4, 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 494.3, stands at 14.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.8 times, while the price to sales ratio stands at 5.0 times.
• The company's price to cash flow (P/CF) ratio stood at 6.9 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	62.9	98.8
TTM Earnings per share	Rs	-4.7	58.4
Diluted earnings per share	Rs	-4.7	58.4
Price to Cash Flow	x	511.7	6.9
TTM P/E ratio	x	-37.0	14.1
Price / Book Value ratio	x	0.3	0.7
Market Cap	Rs m	10,693	19,597
Dividends per share (Unadj.)	Rs	2.0	2.0

Ratio Analysis for 63 MOONS TECH

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 9.4x during FY24, from 5.7x 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 303.9x during FY24, from 31.9x 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 improved and stood at 9.4% during FY24, from -0.7% 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 9.4% during FY24, from 0.6% 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 9.0% during FY24, from -0.6% 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	5.7	9.4
Debtors’ Days	Days	555	76
Interest coverage	x	31.9	303.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	-0.6	9.0
Return on equity	%	-0.7	9.4
Return on capital employed	%	0.6	9.4

To see how 63 MOONS TECH has performed over the last 5 years, please visit here.

63 MOONS TECH Share Price Performance

Over the last one year, 63 MOONS TECH share price has moved up from Rs 242.6 to Rs 494.3, registering a gain of Rs 251.7 or around 103.8%.

Meanwhile, the S&P BSE IT Index is trading at Rs 43,257.8 (up 1.0%). Over the last one year it has moved up from 32,208.0 to 43,257.8, a gain of 11,050 points (up 34.3%).

Overall, the S&P BSE SENSEX is up 24.1% over the year.

(To know more, check out historical annual results for 63 MOONS TECH and quarterly results for 63 MOONS TECH)