AURIONPRO SOLN 2022-23 Annual Report Analysis

Thu, 28 Sep

AURIONPRO SOLN 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.

AURIONPRO SOLN Income Statement Analysis

• Operating income during the year rose 30.6% on a year-on-year (YoY) basis.
• The company's operating profit increased by 29.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 21.7% in FY23 as against 21.9% in FY22.
• Depreciation charges increased by 13.4% and finance costs increased by 37.4% YoY, respectively.
• Other income grew by 3.7% YoY.
• Net profit for the year grew by 34.8% YoY.
• Net profit margins during the year grew from 15.0% in FY22 to 15.5% in FY23.

AURIONPRO SOLN Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	5,050	6,593	30.6%
Other income	Rs m	57	59	3.7%
Total Revenues	Rs m	5,107	6,653	30.3%
Gross profit	Rs m	1,108	1,430	29.1%
Depreciation	Rs m	140	159	13.4%
Interest	Rs m	78	108	37.4%
Profit before tax	Rs m	947	1,223	29.2%
Tax	Rs m	191	204	7.1%
Profit after tax	Rs m	756	1,019	34.8%
Gross profit margin	%	21.9	21.7
Effective tax rate	%	20.2	16.7
Net profit margin	%	15.0	15.5

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AURIONPRO SOLN Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 3 billion as compared to Rs 2 billion in FY22, thereby witnessing an increase of 45.6%.
• Long-term debt down at Rs 290 million as compared to Rs 322 million during FY22, a fall of 9.8%.
• Current assets rose 35% and stood at Rs 6 billion, while fixed assets rose 25% and stood at Rs 3 billion in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 8 billion as against Rs 6 billion during FY22, thereby witnessing a growth of 31%.

AURIONPRO SOLN Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	3,969	4,977	25.4
Current Liabilities	Rs m	1,957	2,849	45.6
Long-term Debt	Rs m	322	290	-9.8
Total Liabilities	Rs m	6,400	8,401	31.3
Current assets	Rs m	4,133	5,568	34.7
Fixed Assets	Rs m	2,267	2,833	25.0
Total Assets	Rs m	6,400	8,401	31.3

AURIONPRO SOLN Cash Flow Statement Analysis

• AURIONPRO SOLN's cash flow from operating activities (CFO) during FY23 stood at Rs 409 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -557 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -16 million, an improvement of 98% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -164 million from the Rs 182 million net cash flows seen during FY22.

AURIONPRO SOLN 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	620	409	-34.1%
Cash Flow from Investing Activities	Rs m	308	-557	-
Cash Flow from Financing Activities	Rs m	-746	-16	-
Net Cash Flow	Rs m	182	-164	-

Current Valuations for AURIONPRO SOLN

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 44.7, an improvement from the EPS of Rs 33.1 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,250.0, stands at 27.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 6.1 times, while the price to sales ratio stands at 4.3 times.
• The company's price to cash flow (P/CF) ratio stood at 6.7 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	221.5	289.2
TTM Earnings per share	Rs	33.1	44.7
Diluted earnings per share	Rs	31.4	42.3
Price to Cash Flow	x	8.8	6.7
TTM P/E ratio	x	10.4	27.5
Price / Book Value ratio	x	1.5	1.6
Market Cap	Rs m	5,933	7,855
Dividends per share (Unadj.)	Rs	2.5	2.5

Ratio Analysis for AURIONPRO SOLN

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 2.0x during FY23, from 2.1x 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 12.4x during FY23, from 13.1x 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 20.5% during FY23, from 19.0% 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 25.3% during FY23, from 23.9% 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 13.4% during FY23, from 13.0% 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	2.1	2.0
Debtors’ Days	Days	942	1,104
Interest coverage	x	13.1	12.4
Debt to equity ratio	x	0.1	0.1
Return on assets	%	13.0	13.4
Return on equity	%	19.0	20.5
Return on capital employed	%	23.9	25.3

To see how AURIONPRO SOLN has performed over the last 5 years, please visit here.

AURIONPRO SOLN Share Price Performance

Over the last one year, AURIONPRO SOLN share price has moved up from Rs 410.1 to Rs 1,250.0, registering a gain of Rs 839.9 or around 204.8%.

Meanwhile, the S&P BSE IT Index is trading at Rs 32,658.2 (down 0.3%). Over the last one year it has moved up from 27,429.2 to 32,658.2, a gain of 5,229 points (up 19.1%).

Overall, the S&P BSE SENSEX is up 15.8% over the year.

(To know more, check out historical annual results for AURIONPRO SOLN and quarterly results for AURIONPRO SOLN)