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COROMANDEL INTERN 2022-23 Annual Report Analysis
Mon, 10 Jul

COROMANDEL INTERN 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.

COROMANDEL INTERN Income Statement Analysis

  • Operating income during the year rose 55.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 34.7% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 9.8% in FY23 as against 11.3% in FY22.
  • Depreciation charges increased by 5.4% and finance costs increased by 151.8% YoY, respectively.
  • Other income grew by 18.6% YoY.
  • Net profit for the year grew by 31.7% YoY.
  • Net profit margins during the year declined from 8.0% in FY22 to 6.8% in FY23.

COROMANDEL INTERN Income Statement 2022-23

No. of Mths Year Ending 12 Mar-22* 12 Mar-23* % Change
Net Sales Rs m 191,109 296,279 55.0%
Other income Rs m 1,443 1,711 18.6%
Total Revenues Rs m 192,551 297,990 54.8%
Gross profit Rs m 21,536 29,017 34.7%
Depreciation Rs m 1,727 1,820 5.4%
Interest Rs m 755 1,900 151.8%
Profit before tax Rs m 20,498 27,008 31.8%
Tax Rs m 5,213 6,879 32.0%
Profit after tax Rs m 15,285 20,129 31.7%
Gross profit margin % 11.3 9.8
Effective tax rate % 25.4 25.5
Net profit margin % 8.0 6.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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COROMANDEL INTERN Balance Sheet Analysis

  • The company's current liabilities during FY23 stood at Rs 59 billion as compared to Rs 45 billion in FY22, thereby witnessing an increase of 31.1%.
  • Current assets rose 23% and stood at Rs 102 billion, while fixed assets rose 36% and stood at Rs 40 billion in FY23.
  • Overall, the total assets and liabilities for FY23 stood at Rs 142 billion as against Rs 113 billion during FY22, thereby witnessing a growth of 26%.

COROMANDEL INTERN Balance Sheet as on March 2023

No. of Mths Year Ending 12 Mar-22* 12 Mar-23* % Change
Networth Rs m 63,461 78,953 24.4
 
Current Liabilities Rs m 44,656 58,565 31.1
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 112,847 142,348 26.1
 
Current assets Rs m 83,402 102,436 22.8
Fixed Assets Rs m 29,445 39,912 35.5
Total Assets Rs m 112,847 142,348 26.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



COROMANDEL INTERN Cash Flow Statement Analysis

  • COROMANDEL INTERN's cash flow from operating activities (CFO) during FY23 stood at Rs 6 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY23 stood at Rs 6 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY23 stood at Rs -5 billion on a YoY basis.
  • Overall, net cash flows for the company during FY23 stood at Rs 7 billion from the Rs 139 million net cash flows seen during FY22.

COROMANDEL INTERN 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 20,781 5,910 -71.6%
Cash Flow from Investing Activities Rs m -16,220 6,390 -
Cash Flow from Financing Activities Rs m -4,425 -5,431 -
Net Cash Flow Rs m 139 6,878 4,844.3%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for COROMANDEL INTERN

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 68.5, an improvement from the EPS of Rs 52.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 961.6, stands at 13.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.6 times, while the price to sales ratio stands at 1.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 12.6 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 651.1 1,007.7
TTM Earnings per share Rs 52.1 68.5
Diluted earnings per share Rs 52.0 68.5
Price to Cash Flow x 13.8 12.6
TTM P/E ratio x 15.4 13.9
Price / Book Value ratio x 3.9 3.5
Market Cap Rs m 244,409 277,431
Dividends per share (Unadj.) Rs 12.0 12.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for COROMANDEL INTERN

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.7x during FY23, from 1.9x 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 15.2x during FY23, from 28.2x 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 improved and stood at 25.5% during FY23, from 24.1% 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 36.6% during FY23, from 33.5% 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 15.5% during FY23, from 14.2% 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 1.9 1.7
Debtors’ Days Days 51 73
Interest coverage x 28.2 15.2
Debt to equity ratio x 0.0 0.0
Return on assets % 14.2 15.5
Return on equity % 24.1 25.5
Return on capital employed % 33.5 36.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how COROMANDEL INTERN has performed over the last 5 years, please visit here.

COROMANDEL INTERN Share Price Performance

Over the last one year, COROMANDEL INTERN share price has moved down from Rs 974.3 to Rs 961.6, registering a loss of Rs 12.7 or around 1.3%.

Overall, the S&P BSE SENSEX is up 22.9% over the year.

(To know more, check out historical annual results for COROMANDEL INTERN and quarterly results for COROMANDEL INTERN)

Annual Report FAQs

What is the current share price of COROMANDEL INTERN?

COROMANDEL INTERN currently trades at Rs 1,184.8 per share. You can check out the latest share price performance of COROMANDEL INTERN here...

What was the revenue of COROMANDEL INTERN in FY23? How does it compare to earlier years?

The revenues of COROMANDEL INTERN stood at Rs 297,990 m in FY23, which was up 54.8% compared to Rs 192,551 m reported in FY22.

COROMANDEL INTERN's revenue has grown from Rs 132,616 m in FY19 to Rs 297,990 m in FY23.

Over the past 5 years, the revenue of COROMANDEL INTERN has grown at a CAGR of 22.4%.

What was the net profit of COROMANDEL INTERN in FY23? How does it compare to earlier years?

The net profit of COROMANDEL INTERN stood at Rs 20,129 m in FY23, which was up 31.7% compared to Rs 15,285 m reported in FY22.

This compares to a net profit of Rs 13,292 m in FY21 and a net profit of Rs 10,650 m in FY20.

Over the past 5 years, COROMANDEL INTERN net profit has grown at a CAGR of 29.3%.

What does the cash flow statement of COROMANDEL INTERN reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of COROMANDEL INTERN reveals:

  • Cash flow from operations decreased in FY23 and stood at Rs 5,910 m as compared to Rs 20,781 m in FY22.
  • Cash flow from investments increased in FY23 and stood at Rs 6,390 m as compared to Rs -16,220 m in FY22.
  • Cash flow from financial activity decreased in FY23 and stood at Rs -5,431 m as compared to Rs -4,425 m in FY22.

Here's the cash flow statement of COROMANDEL INTERN for the past 5 years.

(Rs m)FY19FY20FY21FY22FY23
From Operations5,26418,62041,50220,7815,910
From Investments-5,971-2,219-12,572-16,2206,390
From Financial Activity-2,441-17,231-22,632-4,425-5,431
Net Cashflow-3,144-8166,4161396,878

What does the Key Ratio analysis of COROMANDEL INTERN reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of COROMANDEL INTERN reveals:

  • Operating profit margins witnessed a fall and stood at 9.8% in FY23 as against 11.3% in FY22.
  • Net profit margins declined from 8.0% in FY22 to 6.8% in FY23.
  • Debt to Equity ratio for FY23 stood at 0.0 as compared to 0.0 in FY22.

Here's the ratio/financial analysis of COROMANDEL INTERN for the past 5 years.

 FY19FY20FY21FY22FY23
Operating Profit Margin (%)10.713.214.011.39.8
Net Profit Margin (%)5.48.19.48.06.8
Debt to Equity Ratio (x)0.00.00.00.00.0

 

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