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ANTONY WASTE HANDLING 2022-23 Annual Report Analysis

Thu, 21 Sep

ANTONY WASTE HANDLING 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.

ANTONY WASTE HANDLING Income Statement Analysis

• Operating income during the year rose 32.0% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 0.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 17.2% in FY23 as against 22.8% in FY22.
• Depreciation charges increased by 17.1% and finance costs increased by 30.0% YoY, respectively.
• Other income grew by 14.1% YoY.
• Net profit for the year declined by 6.5% YoY.
• Net profit margins during the year declined from 13.9% in FY22 to 9.9% in FY23.

ANTONY WASTE HANDLING Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	6,484	8,556	32.0%
Other income	Rs m	184	210	14.1%
Total Revenues	Rs m	6,668	8,766	31.5%
Gross profit	Rs m	1,481	1,470	-0.8%
Depreciation	Rs m	333	390	17.1%
Interest	Rs m	205	266	30.0%
Profit before tax	Rs m	1,127	1,023	-9.2%
Tax	Rs m	223	177	-20.5%
Profit after tax	Rs m	904	846	-6.5%
Gross profit margin	%	22.8	17.2
Effective tax rate	%	19.8	17.3
Net profit margin	%	13.9	9.9

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ANTONY WASTE HANDLING 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 17.4%.
• Long-term debt stood at Rs 3 billion as compared to Rs 1 billion during FY22, a growth of 155.2%.
• Current assets rose 7% and stood at Rs 4 billion, while fixed assets rose 46% and stood at Rs 9 billion in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 12 billion as against Rs 9 billion during FY22, thereby witnessing a growth of 31%.

ANTONY WASTE HANDLING Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	4,168	4,853	16.4
Current Liabilities	Rs m	2,372	2,785	17.4
Long-term Debt	Rs m	1,024	2,614	155.2
Total Liabilities	Rs m	9,313	12,180	30.8
Current assets	Rs m	3,427	3,654	6.6
Fixed Assets	Rs m	5,850	8,526	45.7
Total Assets	Rs m	9,313	12,180	30.8

ANTONY WASTE HANDLING Cash Flow Statement Analysis

• ANTONY WASTE HANDLING's cash flow from operating activities (CFO) during FY23 stood at Rs 900 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -3 billion, an improvement of 85.9% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 1 billion, an improvement of 2,876% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -219 million from the Rs -300 million net cash flows seen during FY22.

ANTONY WASTE HANDLING 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	1,051	900	-14.4%
Cash Flow from Investing Activities	Rs m	-1,401	-2,604	-
Cash Flow from Financing Activities	Rs m	50	1,485	2,876.3%
Net Cash Flow	Rs m	-300	-219	-

Current Valuations for ANTONY WASTE HANDLING

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 29.9, an decline from the EPS of Rs 32.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 324.9, stands at 11.7 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 1.1 times.
• The company's price to cash flow (P/CF) ratio stood at 6.9 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	229.2	302.4
TTM Earnings per share	Rs	32.0	29.9
Diluted earnings per share	Rs	32.0	29.9
Price to Cash Flow	x	6.0	6.9
TTM P/E ratio	x	8.2	11.7
Price / Book Value ratio	x	2.4	1.8
Market Cap	Rs m	9,846	8,525
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 1.3x during FY23, from 1.4x 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 4.8x during FY23, from 6.5x 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 17.4% during FY23, from 21.7% 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 17.3% during FY23, from 25.7% 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 9.1% during FY23, from 11.9% 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	1.4	1.3
Debtors’ Days	Days	1,003	923
Interest coverage	x	6.5	4.8
Debt to equity ratio	x	0.2	0.5
Return on assets	%	11.9	9.1
Return on equity	%	21.7	17.4
Return on capital employed	%	25.7	17.3

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 309.6 to Rs 324.9, registering a gain of Rs 15.4 or around 5.0%.

Overall, the S&P BSE SENSEX is up 11.0% over the year.

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