ASHIRWAD CAP 2022-23 Annual Report Analysis

Wed, 17 May

ASHIRWAD CAP 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.

ASHIRWAD CAP Income Statement Analysis

• Operating income during the year fell 30.1% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 34.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 86.2% in FY23 as against 91.3% in FY22.
• Depreciation charges increased by 0.0% increased by 0.0% YoY, respectively.
• Other income grew by 51.9% YoY.
• Net profit for the year declined by 23.4% YoY.
• Net profit margins during the year grew from 90.7% in FY22 to 99.5% in FY23.

ASHIRWAD CAP Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	11	8	-30.1%
Other income	Rs m	1	2	51.9%
Total Revenues	Rs m	12	10	-21.3%
Gross profit	Rs m	10	7	-34.0%
Depreciation	Rs m	0	0	0.0%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	11	9	-24.1%
Tax	Rs m	1	1	-29.5%
Profit after tax	Rs m	10	8	-23.4%
Gross profit margin	%	91.3	86.2
Effective tax rate	%	11.5	10.7
Net profit margin	%	90.7	99.5

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ASHIRWAD CAP Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 3 million as compared to Rs 2 million in FY22, thereby witnessing an increase of 31.1%.
• Current assets rose 107% and stood at Rs 18 million, while fixed assets fell 2% and stood at Rs 119 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 136 million as against Rs 129 million during FY22, thereby witnessing a growth of 5%.

ASHIRWAD CAP Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	126	133	5.0
Current Liabilities	Rs m	2	3	31.1
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	129	136	5.4
Current assets	Rs m	8	18	106.6
Fixed Assets	Rs m	121	119	-1.7
Total Assets	Rs m	129	136	5.4

ASHIRWAD CAP Cash Flow Statement Analysis

• ASHIRWAD CAP's cash flow from operating activities (CFO) during FY23 stood at Rs -17 million, an improvement of 4,130.8% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 9 million, an improvement of 15.7% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 0 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -8 million from the Rs 7 million net cash flows seen during FY22.

ASHIRWAD CAP 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	0	-17	-
Cash Flow from Investing Activities	Rs m	8	9	15.7%
Cash Flow from Financing Activities	Rs m	0	0	0.0%
Net Cash Flow	Rs m	7	-8	-

Current Valuations for ASHIRWAD CAP

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.2, an decline from the EPS of Rs 0.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 5.4, stands at 28.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.6 times, while the price to sales ratio stands at 28.3 times.
• The company's price to cash flow (P/CF) ratio stood at 30.8 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	0.3	0.2
TTM Earnings per share	Rs	0.2	0.2
Diluted earnings per share	Rs	0.2	0.2
Price to Cash Flow	x	28.1	30.8
TTM P/E ratio	x	28.4	28.4
Price / Book Value ratio	x	2.8	1.8
Market Cap	Rs m	358	236
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ASHIRWAD CAP

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 5.6x during FY23, from 3.5x during FY22. The current ratio measures the company's ability to pay short-term and long-term obligations.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company declined and down at 5.7% during FY23, from 7.8% 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 declined and down at 6.4% during FY23, from 8.9% 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 declined and down at 5.6% during FY23, from 7.7% 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	3.5	5.6
Debtors’ Days	Days	0	0
Interest coverage	x	0.0	0.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	7.7	5.6
Return on equity	%	7.8	5.7
Return on capital employed	%	8.9	6.4

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

ASHIRWAD CAP Share Price Performance

Over the last one year, ASHIRWAD CAP share price has moved down from Rs 6.4 to Rs 5.4, registering a loss of Rs 1.0 or around 15.6%.

Overall, the S&P BSE SENSEX is up 16.5% over the year.

(To know more, check out historical annual results for ASHIRWAD CAP and quarterly results for ASHIRWAD CAP)