WEIZMANN. 2022-23 Annual Report Analysis

Mon, 17 Jul

WEIZMANN. has announced its results for the year ended March 2023. Let us have a look at the detailed performance review of the company during FY22-23.

WEIZMANN. Income Statement Analysis

• Operating income during the year rose 35.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 111.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 9.3% in FY23 as against 5.9% in FY22.
• Depreciation charges decreased by 6.1% and finance costs increased by 245.1% YoY, respectively.
• Other income declined by 82.6% YoY.
• Net profit for the year grew by 112.6% YoY.
• Net profit margins during the year grew from 2.9% in FY22 to 4.5% in FY23.

WEIZMANN. Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	998	1,351	35.4%
Other income	Rs m	25	4	-82.6%
Total Revenues	Rs m	1,023	1,356	32.5%
Gross profit	Rs m	59	126	111.8%
Depreciation	Rs m	34	32	-6.1%
Interest	Rs m	3	10	245.1%
Profit before tax	Rs m	48	89	86.6%
Tax	Rs m	19	27	46.5%
Profit after tax	Rs m	29	61	112.6%
Gross profit margin	%	5.9	9.3
Effective tax rate	%	39.4	30.9
Net profit margin	%	2.9	4.5

Dear Reader: If You Invest in Midcap Stocks, this is for You

WEIZMANN. Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 349 million as compared to Rs 405 million in FY22, thereby witnessing an decrease of -14.0%.
• Long-term debt down at Rs 4 million as compared to Rs 5 million during FY22, a fall of 23.2%.
• Current assets fell 4% and stood at Rs 282 million, while fixed assets fell 8% and stood at Rs 735 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 1 billion as against Rs 1 billion during FY22, thereby witnessing a fall of 7%.

WEIZMANN. Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	662	647	-2.3
Current Liabilities	Rs m	405	349	-14.0
Long-term Debt	Rs m	5	4	-23.2
Total Liabilities	Rs m	1,094	1,017	-7.0
Current assets	Rs m	294	282	-4.0
Fixed Assets	Rs m	800	735	-8.2
Total Assets	Rs m	1,094	1,017	-7.0

WEIZMANN. Cash Flow Statement Analysis

• WEIZMANN.'s cash flow from operating activities (CFO) during FY23 stood at Rs 98 million, an improvement of 1.1% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -21 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -85 million, an improvement of 17% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -8 million from the Rs 12 million net cash flows seen during FY22.

WEIZMANN. Cash Flow Statement 2022-23

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-22	Mar-23
Cash Flow from Operating Activities	Rs m	97	98	1.1%
Cash Flow from Investing Activities	Rs m	17	-21	-
Cash Flow from Financing Activities	Rs m	-102	-85	-
Net Cash Flow	Rs m	12	-8	-

Current Valuations for WEIZMANN.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.9, an improvement from the EPS of Rs 1.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 98.5, stands at 25.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.4 times, while the price to sales ratio stands at 1.2 times.
• The company's price to cash flow (P/CF) ratio stood at 14.9 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Sales per share (Unadj.)	Rs	62.9	85.2
TTM Earnings per share	Rs	1.8	3.9
Diluted earnings per share	Rs	1.8	3.9
Price to Cash Flow	x	14.2	14.9
TTM P/E ratio	x	30.8	25.5
Price / Book Value ratio	x	1.6	2.1
Market Cap	Rs m	1,042	1,383
Dividends per share (Unadj.)	Rs	0.5	0.5

Ratio Analysis for WEIZMANN.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 0.8x during FY23, from 0.7x during FY22. 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 10.3x during FY23, from 18.2x during FY22. 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 9.5% during FY23, from 4.3% during FY23. 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 15.1% during FY23, from 7.5% during FY22. 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 7.0% during FY23, from 2.9% during FY22. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Current ratio	x	0.7	0.8
Debtors’ Days	Days	436	373
Interest coverage	x	18.2	10.3
Debt to equity ratio	x	0.0	0.0
Return on assets	%	2.9	7.0
Return on equity	%	4.3	9.5
Return on capital employed	%	7.5	15.1

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

WEIZMANN. Share Price Performance

Over the last one year, WEIZMANN. share price has moved up from Rs 46.8 to Rs 98.5, registering a gain of Rs 51.7 or around 110.5%.

Overall, the S&P BSE SENSEX is up 24.4% over the year.

(To know more, check out historical annual results for WEIZMANN. and quarterly results for WEIZMANN.)