ANTONY WASTE HANDLING 2021-22 Annual Report Analysis

Mon, 7 Nov

ANTONY WASTE HANDLING has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

ANTONY WASTE HANDLING Income Statement Analysis

• Operating income during the year rose 39.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 29.3% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 22.8% in FY22 as against 24.6% in FY21.
• Depreciation charges increased by 6.7% and finance costs decreased by 28.0% YoY, respectively.
• Other income grew by 16.9% YoY.
• Net profit for the year grew by 41.1% YoY.
• Net profit margins during the year grew from 13.8% in FY21 to 13.9% in FY22.

ANTONY WASTE HANDLING Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	4,651	6,484	39.4%
Other income	Rs m	157	184	16.9%
Total Revenues	Rs m	4,808	6,668	38.7%
Gross profit	Rs m	1,146	1,481	29.3%
Depreciation	Rs m	312	333	6.7%
Interest	Rs m	285	205	-28.0%
Profit before tax	Rs m	706	1,127	59.6%
Tax	Rs m	65	223	241.9%
Profit after tax	Rs m	641	904	41.1%
Gross profit margin	%	24.6	22.8
Effective tax rate	%	9.2	19.8
Net profit margin	%	13.8	13.9

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ANTONY WASTE HANDLING Balance Sheet Analysis

• The company's current liabilities during FY22 stood at Rs 2 billion as compared to Rs 2 billion in FY21, thereby witnessing an increase of 22.3%.
• Long-term debt stood at Rs 1 billion as compared to Rs 845 million during FY21, a growth of 21.1%.
• Current assets rose 11% and stood at Rs 3 billion, while fixed assets rose 26% and stood at Rs 6 billion in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 9 billion as against Rs 8 billion during FY21, thereby witnessing a growth of 20%.

ANTONY WASTE HANDLING Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	3,478	4,168	19.8
Current Liabilities	Rs m	1,941	2,373	22.3
Long-term Debt	Rs m	845	1,024	21.1
Total Liabilities	Rs m	7,749	9,313	20.2
Current assets	Rs m	3,083	3,428	11.2
Fixed Assets	Rs m	4,633	5,850	26.3
Total Assets	Rs m	7,749	9,313	20.2

ANTONY WASTE HANDLING Cash Flow Statement Analysis

• ANTONY WASTE HANDLING's cash flow from operating activities (CFO) during FY22 stood at Rs 1 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs -1 billion, an improvement of 328.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs 41 million, an improvement of 213% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs -300 million from the Rs 751 million net cash flows seen during FY21.

ANTONY WASTE HANDLING Cash Flow Statement 2021-22

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-21	Mar-22
Cash Flow from Operating Activities	Rs m	1,115	1,062	-4.8%
Cash Flow from Investing Activities	Rs m	-328	-1,403	-
Cash Flow from Financing Activities	Rs m	-37	41	-
Net Cash Flow	Rs m	751	-300	-

Current Valuations for ANTONY WASTE HANDLING

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 32.0, an improvement from the EPS of Rs 22.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 329.8, stands at 9.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.2 times, while the price to sales ratio stands at 1.4 times.
• The company's price to cash flow (P/CF) ratio stood at 8.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Sales per share (Unadj.)	Rs	164.4	229.2
TTM Earnings per share	Rs	22.6	32.0
Diluted earnings per share	Rs	22.7	32.0
Price to Cash Flow	x	7.2	8.0
TTM P/E ratio	x	10.8	9.6
Price / Book Value ratio	x	3.0	2.4
Market Cap	Rs m	10,378	9,846
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ANTONY WASTE HANDLING

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.4x during FY22, from 1.6x during FY21. 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 6.5x during FY22, from 3.5x during FY21. 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 21.7% during FY22, from 18.4% during FY22. 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 25.7% during FY22, from 22.9% during FY21. 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 11.9% during FY22, from 11.9% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Current ratio	x	1.6	1.4
Debtors’ Days	Days	703	719
Interest coverage	x	3.5	6.5
Debt to equity ratio	x	0.2	0.2
Return on assets	%	11.9	11.9
Return on equity	%	18.4	21.7
Return on capital employed	%	22.9	25.7

To see how ANTONY WASTE HANDLING has performed over the last 5 years, please visit here.

ANTONY WASTE HANDLING Share Price Performance

Over the last one year, ANTONY WASTE HANDLING share price has moved up from Rs 311.3 to Rs 329.8, registering a gain of Rs 18.5 or around 5.9%.

Overall, the S&P BSE SENSEX is up 2.4% over the year.

(To know more, check out historical annual results for ANTONY WASTE HANDLING and quarterly results for ANTONY WASTE HANDLING)

Read: Latest Annual Report Analysis of ANTONY WASTE HANDLING