ADITYA BIRLA MONEY 2022-23 Annual Report Analysis

Thu, 15 Jun

ADITYA BIRLA MONEY 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.

ADITYA BIRLA MONEY Income Statement Analysis

• Operating income during the year rose 13.7% on a year-on-year (YoY) basis.
• The company's operating profit increased by 30.4% YoY during the fiscal. Operating profit margins witnessed a fall and down at 33.5% in FY23 as against 29.2% in FY22.
• Depreciation charges decreased by 1.7% and finance costs increased by 82.4% YoY, respectively.
• Other income grew by 506.2% YoY.
• Net profit for the year grew by 29.7% YoY.
• Net profit margins during the year grew from 11.3% in FY22 to 12.9% in FY23.

ADITYA BIRLA MONEY Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	2,313	2,630	13.7%
Other income	Rs m	26	158	506.2%
Total Revenues	Rs m	2,339	2,788	19.2%
Gross profit	Rs m	676	882	30.4%
Depreciation	Rs m	68	67	-1.7%
Interest	Rs m	278	507	82.4%
Profit before tax	Rs m	357	467	30.8%
Tax	Rs m	96	128	33.8%
Profit after tax	Rs m	261	339	29.7%
Gross profit margin	%	29.2	33.5
Effective tax rate	%	26.8	27.4
Net profit margin	%	11.3	12.9

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ADITYA BIRLA MONEY Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 13 billion as compared to Rs 12 billion in FY22, thereby witnessing an increase of 5.2%.
• Current assets rose 7% and stood at Rs 13 billion, while fixed assets rose 24% and stood at Rs 612 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 14 billion as against Rs 13 billion during FY22, thereby witnessing a growth of 8%.

ADITYA BIRLA MONEY Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	742	1,091	47.0
Current Liabilities	Rs m	11,922	12,542	5.2
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	12,607	13,565	7.6
Current assets	Rs m	12,112	12,953	6.9
Fixed Assets	Rs m	495	612	23.6
Total Assets	Rs m	12,607	13,565	7.6

ADITYA BIRLA MONEY Cash Flow Statement Analysis

• ADITYA BIRLA MONEY's cash flow from operating activities (CFO) during FY23 stood at Rs -765 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -38 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 1 billion on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 258 million from the Rs 272 million net cash flows seen during FY22.

ADITYA BIRLA MONEY 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	-2,840	-765	-
Cash Flow from Investing Activities	Rs m	3	-38	-
Cash Flow from Financing Activities	Rs m	3,109	1,061	-65.9%
Net Cash Flow	Rs m	272	258	-5.0%

Current Valuations for ADITYA BIRLA MONEY

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 6.0, an improvement from the EPS of Rs 4.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 56.3, stands at 9.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.9 times, while the price to sales ratio stands at 1.2 times.
• The company's price to cash flow (P/CF) ratio stood at 8.2 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	41.0	46.6
TTM Earnings per share	Rs	4.6	6.0
Diluted earnings per share	Rs	4.6	6.0
Price to Cash Flow	x	10.4	8.2
TTM P/E ratio	x	13.1	9.4
Price / Book Value ratio	x	4.8	3.1
Market Cap	Rs m	3,566	3,329
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ADITYA BIRLA MONEY

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.0x during FY23, from 1.0x 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 1.9x during FY23, from 2.3x 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 declined and down at 31.1% during FY23, from 35.2% 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 improved and stood at 89.3% during FY23, from 85.6% 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 6.2% during FY23, from 4.3% 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	1.0	1.0
Debtors’ Days	Days	716	254
Interest coverage	x	2.3	1.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	4.3	6.2
Return on equity	%	35.2	31.1
Return on capital employed	%	85.6	89.3

To see how ADITYA BIRLA MONEY has performed over the last 5 years, please visit here.

ADITYA BIRLA MONEY Share Price Performance

Over the last one year, ADITYA BIRLA MONEY share price has moved up from Rs 55.5 to Rs 56.3, registering a gain of Rs 0.8 or around 1.4%.

Overall, the S&P BSE SENSEX is up 19.4% over the year.

(To know more, check out historical annual results for ADITYA BIRLA MONEY and quarterly results for ADITYA BIRLA MONEY)