ANJANI PORT CEM 2022-23 Annual Report Analysis

Tue, 20 Feb

ANJANI PORT CEM 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.

ANJANI PORT CEM Income Statement Analysis

• Operating income during the year fell 17.4% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 85.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 3.2% in FY23 as against 18.0% in FY22.
• Depreciation charges decreased by 7.9% and finance costs increased by 14.9% YoY, respectively.
• Other income declined by 13.9% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year declined from 5.2% in FY22 to 8.8% in FY23.

ANJANI PORT CEM Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	8,013	6,615	-17.4%
Other income	Rs m	31	27	-13.9%
Total Revenues	Rs m	8,044	6,642	-17.4%
Gross profit	Rs m	1,441	214	-85.1%
Depreciation	Rs m	584	538	-7.9%
Interest	Rs m	300	345	14.9%
Profit before tax	Rs m	588	-641	NA
Tax	Rs m	168	-56	NA
Profit after tax	Rs m	420	-585	NA
Gross profit margin	%	18.0	3.2
Effective tax rate	%	28.6	8.8
Net profit margin	%	5.2	-8.8

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ANJANI PORT CEM Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 2 billion as compared to Rs 3 billion in FY22, thereby witnessing an decrease of -27.8%.
• Long-term debt stood at Rs 4 billion as compared to Rs 4 billion during FY22, a growth of 0.7%.
• Current assets fell 11% and stood at Rs 1 billion, while fixed assets fell 6% and stood at Rs 9 billion in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 10 billion as against Rs 11 billion during FY22, thereby witnessing a fall of 7%.

ANJANI PORT CEM Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	3,183	3,337	4.8
Current Liabilities	Rs m	3,045	2,197	-27.8
Long-term Debt	Rs m	3,750	3,775	0.7
Total Liabilities	Rs m	11,166	10,408	-6.8
Current assets	Rs m	1,617	1,436	-11.2
Fixed Assets	Rs m	9,549	8,972	-6.0
Total Assets	Rs m	11,166	10,408	-6.8

ANJANI PORT CEM Cash Flow Statement Analysis

• ANJANI PORT CEM's cash flow from operating activities (CFO) during FY23 stood at Rs 207 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -137 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -186 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -116 million from the Rs 31 million net cash flows seen during FY22.

ANJANI PORT CEM 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	985	207	-79.0%
Cash Flow from Investing Activities	Rs m	-5,124	-137	-
Cash Flow from Financing Activities	Rs m	4,098	-186	-
Net Cash Flow	Rs m	31	-116	-

Current Valuations for ANJANI PORT CEM

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -19.9, an decline from the EPS of Rs 16.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 143.6, stands at -7.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.3 times, while the price to sales ratio stands at 0.6 times.
• The company's price to cash flow (P/CF) ratio stood at -136.3 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	316.8	225.2
TTM Earnings per share	Rs	16.6	-19.9
Diluted earnings per share	Rs	14.3	-19.9
Price to Cash Flow	x	6.4	-136.3
TTM P/E ratio	x	15.3	-7.2
Price / Book Value ratio	x	2.9	1.9
Market Cap	Rs m	9,267	6,475
Dividends per share (Unadj.)	Rs	3.0	0.0

Ratio Analysis for ANJANI PORT CEM

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 0.7x during FY23, from 0.5x 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 -0.9x during FY23, from 3.0x 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 declined and down at -17.5% during FY23, from 13.2% 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 -4.2% during FY23, from 12.8% 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 -2.3% 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	0.5	0.7
Debtors’ Days	Days	285	231
Interest coverage	x	3.0	-0.9
Debt to equity ratio	x	1.2	1.1
Return on assets	%	6.4	-2.3
Return on equity	%	13.2	-17.5
Return on capital employed	%	12.8	-4.2

To see how ANJANI PORT CEM has performed over the last 5 years, please visit here.

ANJANI PORT CEM Share Price Performance

Over the last one year, ANJANI PORT CEM share price has moved down from Rs 219.0 to Rs 143.6, registering a loss of Rs 75.4 or around 34.4%.

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

(To know more, check out historical annual results for ANJANI PORT CEM and quarterly results for ANJANI PORT CEM)