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AMBER ENTERPRISES INDIA 2022-23 Annual Report Analysis

Fri, 21 Jul

AMBER ENTERPRISES INDIA 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.

AMBER ENTERPRISES INDIA Income Statement Analysis

• Operating income during the year rose 64.7% on a year-on-year (YoY) basis.
• The company's operating profit increased by 51.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 6.0% in FY23 as against 6.5% in FY22.
• Depreciation charges increased by 28.9% and finance costs increased by 140.8% YoY, respectively.
• Other income grew by 58.5% YoY.
• Net profit for the year grew by 47.1% YoY.
• Net profit margins during the year declined from 2.6% in FY22 to 2.4% in FY23.

AMBER ENTERPRISES INDIA Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	42,064	69,271	64.7%
Other income	Rs m	332	527	58.5%
Total Revenues	Rs m	42,396	69,798	64.6%
Gross profit	Rs m	2,754	4,179	51.8%
Depreciation	Rs m	1,079	1,391	28.9%
Interest	Rs m	464	1,118	140.8%
Profit before tax	Rs m	1,543	2,197	42.4%
Tax	Rs m	429	559	30.1%
Profit after tax	Rs m	1,113	1,638	47.1%
Gross profit margin	%	6.5	6.0
Effective tax rate	%	27.8	25.4
Net profit margin	%	2.6	2.4

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AMBER ENTERPRISES INDIA Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 34 billion as compared to Rs 26 billion in FY22, thereby witnessing an increase of 31.2%.
• Long-term debt stood at Rs 7 billion as compared to Rs 4 billion during FY22, a growth of 83.9%.
• Current assets rose 29% and stood at Rs 38 billion, while fixed assets rose 24% and stood at Rs 24 billion in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 62 billion as against Rs 49 billion during FY22, thereby witnessing a growth of 27%.

AMBER ENTERPRISES INDIA Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	17,185	18,660	8.6
Current Liabilities	Rs m	26,279	34,488	31.2
Long-term Debt	Rs m	3,628	6,672	83.9
Total Liabilities	Rs m	49,096	62,403	27.1
Current assets	Rs m	29,680	38,360	29.2
Fixed Assets	Rs m	19,411	24,038	23.8
Total Assets	Rs m	49,096	62,403	27.1

AMBER ENTERPRISES INDIA Cash Flow Statement Analysis

• AMBER ENTERPRISES INDIA's cash flow from operating activities (CFO) during FY23 stood at Rs 3 billion, an improvement of 33.2% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -5 billion on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 2 billion on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 246 million from the Rs 1 billion net cash flows seen during FY22.

AMBER ENTERPRISES INDIA 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	2,407	3,206	33.2%
Cash Flow from Investing Activities	Rs m	-6,896	-4,888	-
Cash Flow from Financing Activities	Rs m	5,555	1,928	-65.3%
Net Cash Flow	Rs m	1,186	246	-79.3%

Current Valuations for AMBER ENTERPRISES INDIA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 48.6, an improvement from the EPS of Rs 33.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 2,227.1, stands at 45.8 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 1.1 times.
• The company's price to cash flow (P/CF) ratio stood at 32.2 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	1,248.6	2,056.1
TTM Earnings per share	Rs	33.0	48.6
Diluted earnings per share	Rs	33.0	48.6
Price to Cash Flow	x	54.2	32.2
TTM P/E ratio	x	106.7	45.8
Price / Book Value ratio	x	6.5	5.2
Market Cap	Rs m	111,477	97,474
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for AMBER ENTERPRISES INDIA

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.1x during FY23, from 1.1x 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 deteriorated and stood at 3.0x during FY23, from 4.3x 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 8.8% during FY23, from 6.5% 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 13.1% during FY23, from 9.6% 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 4.4% during FY23, from 3.2% 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	1.1	1.1
Debtors’ Days	Days	1,141	929
Interest coverage	x	4.3	3.0
Debt to equity ratio	x	0.2	0.4
Return on assets	%	3.2	4.4
Return on equity	%	6.5	8.8
Return on capital employed	%	9.6	13.1

To see how AMBER ENTERPRISES INDIA has performed over the last 5 years, please visit here.

AMBER ENTERPRISES INDIA Share Price Performance

Over the last one year, AMBER ENTERPRISES INDIA share price has moved down from Rs 2,525.2 to Rs 2,227.1, registering a loss of Rs 298.1 or around 11.8%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 42,256.6 (down 1.1%). Over the last one year it has moved up from 39,119.4 to 42,256.6, a gain of 3,137 points (up 8.0%).

Overall, the S&P BSE SENSEX is up 20.4% over the year.

(To know more, check out historical annual results for AMBER ENTERPRISES INDIA and quarterly results for AMBER ENTERPRISES INDIA)