MRS BECTORS FOOD 2024-25 Annual Report Analysis

Tue, 26 Aug

MRS BECTORS FOOD has announced its results for the year ended March 2025. Let us have a look at the detailed performance review of the company during FY24-25.

MRS BECTORS FOOD Income Statement Analysis

• Operating income during the year rose 15.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 3.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 13.4% in FY25 as against 15.0% in FY24.
• Depreciation charges increased by 23.6% and finance costs increased by 9.5% YoY, respectively.
• Other income grew by 52.4% YoY.
• Net profit for the year grew by 2.0% YoY.
• Net profit margins during the year declined from 8.6% in FY24 to 7.6% in FY25.

MRS BECTORS FOOD Income Statement 2024-25

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Net Sales	Rs m	16,239	18,739	15.4%
Other income	Rs m	190	290	52.4%
Total Revenues	Rs m	16,430	19,029	15.8%
Gross profit	Rs m	2,429	2,520	3.8%
Depreciation	Rs m	614	759	23.6%
Interest	Rs m	122	133	9.5%
Profit before tax	Rs m	1,883	1,918	1.9%
Tax	Rs m	479	485	1.3%
Profit after tax	Rs m	1,404	1,432	2.0%
Gross profit margin	%	15.0	13.4
Effective tax rate	%	25.5	25.3
Net profit margin	%	8.6	7.6

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MRS BECTORS FOOD Balance Sheet Analysis

• The company's current liabilities during FY25 stood at Rs 3 billion as compared to Rs 2 billion in FY24, thereby witnessing an increase of 10.1%.
• Long-term debt down at Rs 609 million as compared to Rs 1 billion during FY24, a fall of 59.2%.
• Current assets rose 51% and stood at Rs 6 billion, while fixed assets rose 37% and stood at Rs 9 billion in FY25.
• Overall, the total assets and liabilities for FY25 stood at Rs 16 billion as against Rs 11 billion during FY24, thereby witnessing a growth of 42%.

MRS BECTORS FOOD Balance Sheet as on March 2025

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Networth	Rs m	6,626	11,641	75.7
Current Liabilities	Rs m	2,448	2,694	10.1
Long-term Debt	Rs m	1,490	609	-59.2
Total Liabilities	Rs m	11,003	15,654	42.3
Current assets	Rs m	4,093	6,188	51.2
Fixed Assets	Rs m	6,910	9,467	37.0
Total Assets	Rs m	11,003	15,654	42.3

MRS BECTORS FOOD Cash Flow Statement Analysis

• MRS BECTORS FOOD's cash flow from operating activities (CFO) during FY25 stood at Rs 2 billion, an improvement of 5.3% on a YoY basis.
• Cash flow from investing activities (CFI) during FY25 stood at Rs -3 billion, an improvement of 48.2% on a YoY basis.
• Cash flow from financial activities (CFF) during FY25 stood at Rs 2 billion, an improvement of 261% on a YoY basis.
• Overall, net cash flows for the company during FY25 stood at Rs 785 million from the Rs -14 million net cash flows seen during FY24.

MRS BECTORS FOOD Cash Flow Statement 2024-25

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-24	Mar-25
Cash Flow from Operating Activities	Rs m	1,534	1,615	5.3%
Cash Flow from Investing Activities	Rs m	-2,235	-3,314	-
Cash Flow from Financing Activities	Rs m	688	2,484	261.3%
Net Cash Flow	Rs m	-14	785	-

Current Valuations for MRS BECTORS FOOD

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 23.3, an decline from the EPS of Rs 23.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,378.8, stands at 61.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 7.3 times, while the price to sales ratio stands at 4.5 times.
• The company's price to cash flow (P/CF) ratio stood at 45.2 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*
Sales per share (Unadj.)	Rs	276.3	305.4
TTM Earnings per share	Rs	23.9	23.3
Diluted earnings per share	Rs	22.9	23.3
Price to Cash Flow	x	33.9	45.2
TTM P/E ratio	x	48.8	61.1
Price / Book Value ratio	x	8.5	8.5
Market Cap	Rs m	56,128	98,955
Dividends per share (Unadj.)	Rs	3.3	6.0

Ratio Analysis for MRS BECTORS FOOD

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.3x during FY25, from 1.7x during FY24. 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 15.4x during FY25, from 16.4x during FY24. 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 12.3% during FY25, from 21.2% during FY25. 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 16.7% during FY25, from 24.7% during FY24. 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 10.0% during FY25, from 13.9% during FY24. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*
Current ratio	x	1.7	2.3
Debtors’ Days	Days	30	26
Interest coverage	x	16.4	15.4
Debt to equity ratio	x	0.2	0.1
Return on assets	%	13.9	10.0
Return on equity	%	21.2	12.3
Return on capital employed	%	24.7	16.7

To see how MRS BECTORS FOOD has performed over the last 5 years, please visit here.

MRS BECTORS FOOD Share Price Performance

Over the last one year, MRS BECTORS FOOD share price has moved down from Rs 1,598.7 to Rs 1,378.8, registering a loss of Rs 219.9 or around 13.8%.

Overall, the S&P BSE SENSEX is up 0.1% over the year.

(To know more, check out historical annual results for MRS BECTORS FOOD and quarterly results for MRS BECTORS FOOD)