WISE TRAVEL INDIA LTD. 2023-24 Annual Report Analysis

Tue, 29 Oct

WISE TRAVEL INDIA LTD. 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.

WISE TRAVEL INDIA LTD. Income Statement Analysis

• Operating income during the year rose 64.5% on a year-on-year (YoY) basis.
• The company's operating profit increased by 131.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 10.5% in FY24 as against 7.4% in FY23.
• Depreciation charges increased by 219.6% and finance costs increased by 146.2% YoY, respectively.
• Other income grew by 814.1% YoY.
• Net profit for the year grew by 124.9% YoY.
• Net profit margins during the year grew from 4.1% in FY23 to 5.7% in FY24.

WISE TRAVEL INDIA LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	2,496	4,106	64.5%
Other income	Rs m	4	35	814.1%
Total Revenues	Rs m	2,500	4,141	65.6%
Gross profit	Rs m	186	430	131.2%
Depreciation	Rs m	36	116	219.6%
Interest	Rs m	15	37	146.2%
Profit before tax	Rs m	138	311	125.3%
Tax	Rs m	35	79	126.2%
Profit after tax	Rs m	103	232	124.9%
Gross profit margin	%	7.4	10.5
Effective tax rate	%	25.3	25.4
Net profit margin	%	4.1	5.7

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WISE TRAVEL INDIA LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 770 million as compared to Rs 565 million in FY23, thereby witnessing an increase of 36.1%.
• Long-term debt down at Rs 115 million as compared to Rs 168 million during FY23, a fall of 31.4%.
• Current assets rose 160% and stood at Rs 2 billion, while fixed assets rose 7% and stood at Rs 440 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 2 billion as against Rs 1 billion during FY23, thereby witnessing a growth of 106%.

WISE TRAVEL INDIA LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	406	1,487	266.2
Current Liabilities	Rs m	565	770	36.1
Long-term Debt	Rs m	168	115	-31.4
Total Liabilities	Rs m	1,169	2,410	106.1
Current assets	Rs m	758	1,970	159.8
Fixed Assets	Rs m	411	440	7.0
Total Assets	Rs m	1,169	2,410	106.1

WISE TRAVEL INDIA LTD. Cash Flow Statement Analysis

• WISE TRAVEL INDIA LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs 192 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -942 million, an improvement of 643.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 833 million, an improvement of 244% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 82 million from the Rs 34 million net cash flows seen during FY23.

WISE TRAVEL INDIA LTD. 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	-81	192	-
Cash Flow from Investing Activities	Rs m	-127	-942	-
Cash Flow from Financing Activities	Rs m	242	833	243.7%
Net Cash Flow	Rs m	34	82	139.6%

Current Valuations for WISE TRAVEL INDIA LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.8, an decline from the EPS of Rs 32.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 249.0, stands at 25.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 4.0 times, while the price to sales ratio stands at 1.4 times.
• The company's price to cash flow (P/CF) ratio stood at 13.0 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	789.9	172.4
TTM Earnings per share	Rs	32.7	9.8
Diluted earnings per share	Rs	4.3	9.8
Price to Cash Flow	x	0.0	13.0
TTM P/E ratio	x	0.0	25.5
Price / Book Value ratio	x	0.0	3.0
Market Cap	Rs m	0	4,514
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for WISE TRAVEL INDIA LTD.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.6x during FY24, from 1.3x 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 9.3x during FY24, from 10.1x 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 15.6% during FY24, from 25.4% 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 21.8% during FY24, from 26.7% 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 improved and stood at 11.2% during FY24, from 10.1% 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	1.3	2.6
Debtors’ Days	Days	865	762
Interest coverage	x	10.1	9.3
Debt to equity ratio	x	0.4	0.1
Return on assets	%	10.1	11.2
Return on equity	%	25.4	15.6
Return on capital employed	%	26.7	21.8

To see how WISE TRAVEL INDIA LTD. has performed over the last 5 years, please visit here.

WISE TRAVEL INDIA LTD. Share Price Performance

Over the last one year, WISE TRAVEL INDIA LTD. share price has moved down from Rs 0.0 to Rs 0.0, registering a loss of Rs 0.0 or around 0.0%.

Overall, the NIFTY 50 is down 0.7% over the year.

(To know more, check out historical annual results for WISE TRAVEL INDIA LTD. and quarterly results for WISE TRAVEL INDIA LTD.)