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IMAGICAAWORLD ENTERTAINMENT 2022-23 Annual Report Analysis

Fri, 31 Mar

IMAGICAAWORLD ENTERTAINMENT 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.

IMAGICAAWORLD ENTERTAINMENT Income Statement Analysis

• Operating income during the year rose 247.8% on a year-on-year (YoY) basis.
• The company's operating profit increased by 146.7% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 31.8% in FY23 as against 44.9% in FY22.
• Depreciation charges was by NA and finance costs decreased by 72.0% YoY, respectively.
• Other income grew by 2469.3% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 338.8% in FY22 to 142.5% in FY23.

IMAGICAAWORLD ENTERTAINMENT Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	720	2,506	247.8%
Other income	Rs m	32	832	2,469.3%
Total Revenues	Rs m	753	3,337	343.3%
Gross profit	Rs m	323	797	146.7%
Depreciation	Rs m	915	-507	NA
Interest	Rs m	1,882	526	-72.0%
Profit before tax	Rs m	-2,441	1,611	NA
Tax	Rs m	0	-1,961	0.0
Profit after tax	Rs m	-2,441	3,571	NA
Gross profit margin	%	44.9	31.8
Effective tax rate	%	0.0	-121.7
Net profit margin	%	-338.8	142.5

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IMAGICAAWORLD ENTERTAINMENT Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 7 billion as compared to Rs 17 billion in FY22, thereby witnessing an decrease of -62.0%.
• Long-term debt stood at Rs 2 billion as compared to Rs 0 million during FY22, a fall of 0.0%.
• Current assets fell 25% and stood at Rs 1 billion, while fixed assets rose 10% and stood at Rs 8 billion in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 9 billion as against Rs 9 billion during FY22, thereby witnessing a growth of 4%.

IMAGICAAWORLD ENTERTAINMENT Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	-8,623	2,335	NA
Current Liabilities	Rs m	17,333	6,580	-62.0
Long-term Debt	Rs m	0	2,134	0.0
Total Liabilities	Rs m	8,728	9,106	4.3
Current assets	Rs m	1,389	1,046	-24.7
Fixed Assets	Rs m	7,339	8,060	9.8
Total Assets	Rs m	8,728	9,106	4.3

IMAGICAAWORLD ENTERTAINMENT Cash Flow Statement Analysis

• IMAGICAAWORLD ENTERTAINMENT's cash flow from operating activities (CFO) during FY23 stood at Rs 807 million, an improvement of 1,701.3% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 141 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -395 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 553 million from the Rs 26 million net cash flows seen during FY22.

IMAGICAAWORLD ENTERTAINMENT 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	45	807	1,701.3%
Cash Flow from Investing Activities	Rs m	-4	141	-
Cash Flow from Financing Activities	Rs m	-15	-395	-
Net Cash Flow	Rs m	26	553	2,046.1%

Current Valuations for IMAGICAAWORLD ENTERTAINMENT

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 8.7, an improvement from the EPS of Rs -27.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 45.8, stands at 6.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 9.5 times, while the price to sales ratio stands at 7.5 times.
• The company's price to cash flow (P/CF) ratio stood at 4.6 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	8.1	6.1
TTM Earnings per share	Rs	-27.6	8.7
Diluted earnings per share	Rs	-5.1	7.4
Price to Cash Flow	x	-4.1	4.6
TTM P/E ratio	x	-2.6	6.2
Price / Book Value ratio	x	-0.1	6.1
Market Cap	Rs m	963	14,157
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for IMAGICAAWORLD ENTERTAINMENT

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 0.2x during FY23, from 0.1x 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 improved and stood at 4.1x during FY23, from -0.3x 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 153.0% during FY23, from 28.3% 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 47.8% during FY23, from 6.5% 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 45.0% during FY23, from -6.4% 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	0.1	0.2
Debtors’ Days	Days	170	67
Interest coverage	x	-0.3	4.1
Debt to equity ratio	x	0.0	0.9
Return on assets	%	-6.4	45.0
Return on equity	%	28.3	153.0
Return on capital employed	%	6.5	47.8

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

IMAGICAAWORLD ENTERTAINMENT Share Price Performance

Over the last one year, IMAGICAAWORLD ENTERTAINMENT share price has moved up from Rs 13.1 to Rs 45.8, registering a gain of Rs 32.7 or around 249.8%.

Overall, the S&P BSE SENSEX is up 1.8% over the year.

(To know more, check out historical annual results for IMAGICAAWORLD ENTERTAINMENT and quarterly results for IMAGICAAWORLD ENTERTAINMENT)