ANANT RAJ 2022-23 Annual Report Analysis

Sun, 11 Jun

ANANT RAJ 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.

ANANT RAJ Income Statement Analysis

• Operating income during the year rose 40.5% on a year-on-year (YoY) basis.
• The company's operating profit increased by 42.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 16.6% in FY23 as against 16.4% in FY22.
• Depreciation charges decreased by 13.5% and finance costs decreased by 19.4% YoY, respectively.
• Other income grew by 76.4% YoY.
• Net profit for the year grew by 120.0% YoY.
• Net profit margins during the year grew from 10.5% in FY22 to 16.4% in FY23.

ANANT RAJ Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	4,619	6,487	40.5%
Other income	Rs m	394	695	76.4%
Total Revenues	Rs m	5,012	7,182	43.3%
Gross profit	Rs m	759	1,078	42.1%
Depreciation	Rs m	167	144	-13.5%
Interest	Rs m	271	218	-19.4%
Profit before tax	Rs m	715	1,410	97.2%
Tax	Rs m	231	344	49.2%
Profit after tax	Rs m	485	1,066	120.0%
Gross profit margin	%	16.4	16.6
Effective tax rate	%	32.2	24.4
Net profit margin	%	10.5	16.4

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ANANT RAJ Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 3 billion as compared to Rs 6 billion in FY22, thereby witnessing an decrease of -49.5%.
• Long-term debt down at Rs 9 billion as compared to Rs 9 billion during FY22, a fall of 6.4%.
• Current assets fell 14% and stood at Rs 19 billion, while fixed assets rose 1% and stood at Rs 22 billion in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 41 billion as against Rs 44 billion during FY22, thereby witnessing a fall of 7%.

ANANT RAJ Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	25,154	27,614	9.8
Current Liabilities	Rs m	6,158	3,107	-49.5
Long-term Debt	Rs m	9,101	8,520	-6.4
Total Liabilities	Rs m	43,850	40,975	-6.6
Current assets	Rs m	21,735	18,741	-13.8
Fixed Assets	Rs m	22,116	22,233	0.5
Total Assets	Rs m	43,850	40,975	-6.6

ANANT RAJ Cash Flow Statement Analysis

• ANANT RAJ's cash flow from operating activities (CFO) during FY23 stood at Rs 341 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -315 million, an improvement of 617.8% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 145 million, an improvement of 103% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 171 million from the Rs -74 million net cash flows seen during FY22.

ANANT RAJ 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	4,582	341	-92.6%
Cash Flow from Investing Activities	Rs m	-44	-315	-
Cash Flow from Financing Activities	Rs m	-4,612	145	-
Net Cash Flow	Rs m	-74	171	-

Current Valuations for ANANT RAJ

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.3, an improvement from the EPS of Rs 1.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 163.4, stands at 36.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.9 times, while the price to sales ratio stands at 8.2 times.
• The company's price to cash flow (P/CF) ratio stood at 22.5 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	15.7	20.0
TTM Earnings per share	Rs	1.6	3.3
Diluted earnings per share	Rs	1.5	3.3
Price to Cash Flow	x	33.0	22.5
TTM P/E ratio	x	44.3	36.7
Price / Book Value ratio	x	0.8	1.0
Market Cap	Rs m	19,661	27,200
Dividends per share (Unadj.)	Rs	0.1	0.5

Ratio Analysis for ANANT RAJ

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 6.0x during FY23, from 3.5x 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 improved and stood at 7.5x during FY23, from 3.6x 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 3.9% during FY23, from 1.9% 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 4.5% during FY23, from 2.9% 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 improved and stood at 3.1% during FY23, from 1.7% 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	6.0
Debtors’ Days	Days	172	256
Interest coverage	x	3.6	7.5
Debt to equity ratio	x	0.4	0.3
Return on assets	%	1.7	3.1
Return on equity	%	1.9	3.9
Return on capital employed	%	2.9	4.5

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

ANANT RAJ Share Price Performance

Over the last one year, ANANT RAJ share price has moved up from Rs 54.2 to Rs 163.4, registering a gain of Rs 109.2 or around 201.4%.

Overall, the S&P BSE SENSEX is up 14.1% over the year.

(To know more, check out historical annual results for ANANT RAJ and quarterly results for ANANT RAJ)