Markets will remain closed on April 17, 2024 on account of Ram Navami.

CHARTERED LOGISTICS 2021-22 Annual Report Analysis

Mon, 7 Nov

CHARTERED LOGISTICS 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.

CHARTERED LOGISTICS Income Statement Analysis

• Operating income during the year fell 3.0% on a year-on-year (YoY) basis.
• The company's operating profit increased by 12.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 4.9% in FY22 as against 4.2% in FY21.
• Depreciation charges decreased by 12.0% and finance costs decreased by 29.9% YoY, respectively.
• Other income declined by 20.8% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 1.8% in FY21 to 0.4% in FY22.

CHARTERED LOGISTICS Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	1,315	1,275	-3.0%
Other income	Rs m	18	14	-20.8%
Total Revenues	Rs m	1,333	1,289	-3.3%
Gross profit	Rs m	55	62	12.2%
Depreciation	Rs m	31	27	-12.0%
Interest	Rs m	66	46	-29.9%
Profit before tax	Rs m	-24	3	NA
Tax	Rs m	0	-3	NA
Profit after tax	Rs m	-24	5	NA
Gross profit margin	%	4.2	4.9
Effective tax rate	%	0.9	-102.6
Net profit margin	%	-1.8	0.4

For You: Midcap Stocks Research at Less than Its Launch Price

CHARTERED LOGISTICS Balance Sheet Analysis

• The company's current liabilities during FY22 down at Rs 350 million as compared to Rs 387 million in FY21, thereby witnessing an decrease of -9.5%.
• Long-term debt down at Rs 117 million as compared to Rs 183 million during FY21, a fall of 36.1%.
• Current assets fell 16% and stood at Rs 468 million, while fixed assets fell 3% and stood at Rs 472 million in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 940 million as against Rs 1 billion during FY21, thereby witnessing a fall of 10%.

CHARTERED LOGISTICS Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	435	441	1.4
Current Liabilities	Rs m	387	350	-9.5
Long-term Debt	Rs m	183	117	-36.1
Total Liabilities	Rs m	1,041	940	-9.6
Current assets	Rs m	555	468	-15.7
Fixed Assets	Rs m	485	472	-2.7
Total Assets	Rs m	1,041	940	-9.6

CHARTERED LOGISTICS Cash Flow Statement Analysis

• CHARTERED LOGISTICS's cash flow from operating activities (CFO) during FY22 stood at Rs 138 million, an improvement of 11.7% on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs -2 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs -151 million, an improvement of 10% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs -14 million from the Rs 4 million net cash flows seen during FY21.

CHARTERED LOGISTICS 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	124	138	11.7%
Cash Flow from Investing Activities	Rs m	49	-2	-
Cash Flow from Financing Activities	Rs m	-168	-151	-
Net Cash Flow	Rs m	4	-14	-

Current Valuations for CHARTERED LOGISTICS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.1, an improvement from the EPS of Rs -0.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 6.2, stands at 106.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.4 times, while the price to sales ratio stands at 0.5 times.
• The company's price to cash flow (P/CF) ratio stood at 40.6 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	13.2	12.8
TTM Earnings per share	Rs	-0.2	0.1
Diluted earnings per share	Rs	-0.2	0.1
Price to Cash Flow	x	45.8	40.6
TTM P/E ratio	x	-13.6	106.9
Price / Book Value ratio	x	0.8	3.0
Market Cap	Rs m	336	1,320
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for CHARTERED LOGISTICS

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.3x during FY22, from 1.4x 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 1.1x during FY22, from 0.6x 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 1.2% during FY22, from -5.4% 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 8.8% during FY22, from 6.9% 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 improved and stood at 5.5% during FY22, from 4.1% 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	1.4	1.3
Debtors’ Days	Days	1,008	963
Interest coverage	x	0.6	1.1
Debt to equity ratio	x	0.4	0.3
Return on assets	%	4.1	5.5
Return on equity	%	-5.4	1.2
Return on capital employed	%	6.9	8.8

To see how CHARTERED LOGISTICS has performed over the last 5 years, please visit here.

CHARTERED LOGISTICS Share Price Performance

Over the last one year, CHARTERED LOGISTICS share price has moved down from Rs 19.5 to Rs 6.2, registering a loss of Rs 13.3 or around 68.1%.

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

(To know more, check out historical annual results for CHARTERED LOGISTICS and quarterly results for CHARTERED LOGISTICS)