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CUPID 2021-22 Annual Report Analysis
Mon, 12 Sep

CUPID 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.

CUPID Income Statement Analysis

  • Operating income during the year fell 7.8% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 36.3% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 17.4% in FY22 as against 25.1% in FY21.
  • Depreciation charges increased by 1.8% and finance costs decreased by 68.5% YoY, respectively.
  • Other income declined by 16.4% YoY.
  • Net profit for the year declined by 40.4% YoY.
  • Net profit margins during the year declined from 20.2% in FY21 to 13.1% in FY22.

CUPID Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 1,435 1,323 -7.8%
Other income Rs m 52 43 -16.4%
Total Revenues Rs m 1,487 1,367 -8.1%
Gross profit Rs m 361 230 -36.3%
Depreciation Rs m 26 26 1.8%
Interest Rs m 4 1 -68.5%
Profit before tax Rs m 382 245 -35.8%
Tax Rs m 92 72 -21.4%
Profit after tax Rs m 290 173 -40.4%
Gross profit margin % 25.1 17.4
Effective tax rate % 24.1 29.5
Net profit margin % 20.2 13.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Revealed: India's Top 3 Smallcap Stocks

CUPID Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 309 million as compared to Rs 207 million in FY21, thereby witnessing an increase of 49.2%.
  • Current assets rose 13% and stood at Rs 1 billion, while fixed assets rose 20% and stood at Rs 365 million in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 2 billion as against Rs 2 billion during FY21, thereby witnessing a growth of 14%.

CUPID Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 1,309 1,422 8.7
 
Current Liabilities Rs m 207 309 49.2
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 1,524 1,741 14.2
 
Current assets Rs m 1,218 1,376 12.9
Fixed Assets Rs m 305 365 19.6
Total Assets Rs m 1,524 1,741 14.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



CUPID Cash Flow Statement Analysis

  • CUPID's cash flow from operating activities (CFO) during FY22 stood at Rs 102 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -135 million, an improvement of 53.0% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs 27 million, an improvement of 108% on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs -6 million from the Rs 0 million net cash flows seen during FY21.

CUPID 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 419 102 -75.6%
Cash Flow from Investing Activities Rs m -88 -135 -
Cash Flow from Financing Activities Rs m -330 27 -
Net Cash Flow Rs m 0 -6 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for CUPID

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 13.0, an decline from the EPS of Rs 21.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 235.9, stands at 19.7 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 2.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 15.5 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 107.6 99.2
TTM Earnings per share Rs 21.7 13.0
Diluted earnings per share Rs 21.7 13.0
Price to Cash Flow x 8.9 15.5
TTM P/E ratio x 9.7 19.7
Price / Book Value ratio x 2.2 2.2
Market Cap Rs m 2,870 3,095
Dividends per share (Unadj.) Rs 4.5 4.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for CUPID

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 4.5x during FY22, from 5.9x 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 182.6x during FY22, from 90.3x 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 declined and down at 12.2% during FY22, from 22.2% 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 declined and down at 17.3% during FY22, from 29.5% 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 10.0% during FY22, from 19.3% 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 5.9 4.5
Debtors’ Days Days 648 840
Interest coverage x 90.3 182.6
Debt to equity ratio x 0.0 0.0
Return on assets % 19.3 10.0
Return on equity % 22.2 12.2
Return on capital employed % 29.5 17.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

CUPID Share Price Performance

Over the last one year, CUPID share price has moved up from Rs 229.5 to Rs 235.9, registering a gain of Rs 6.4 or around 2.8%.

Overall, the S&P BSE SENSEX is up 3.4% over the year.

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

Annual Report FAQs

What is the current share price of CUPID?

CUPID currently trades at Rs 0.0 per share. You can check out the latest share price performance of CUPID here...

What was the revenue of CUPID in FY22? How does it compare to earlier years?

The revenues of CUPID stood at Rs 1,367 m in FY22, which was down -8.1% compared to Rs 1,487 m reported in FY21.

CUPID's revenue has grown from Rs 818 m in FY18 to Rs 1,367 m in FY22.

Over the past 5 years, the revenue of CUPID has grown at a CAGR of 13.7%.

What was the net profit of CUPID in FY22? How does it compare to earlier years?

The net profit of CUPID stood at Rs 173 m in FY22, which was down -40.4% compared to Rs 290 m reported in FY21.

This compares to a net profit of Rs 398 m in FY20 and a net profit of Rs 152 m in FY19.

Over the past 5 years, CUPID net profit has grown at a CAGR of 0.3%.

What does the cash flow statement of CUPID 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 CUPID reveals:

  • Cash flow from operations decreased in FY22 and stood at Rs 102 m as compared to Rs 419 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -135 m as compared to Rs -88 m in FY21.
  • Cash flow from financial activity increased in FY22 and stood at Rs 27 m as compared to Rs -330 m in FY21.

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

(Rs m)FY18FY19FY20FY21FY22
From Operations34184188419102
From Investments-87-139-370-88-135
From Financial Activity-33-49164-33027
Net Cashflow-86-4-180-6

What does the Key Ratio analysis of CUPID 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 CUPID reveals:

  • Operating profit margins witnessed a fall and stood at 17.4% in FY22 as against 25.1% in FY21.
  • Net profit margins declined from 20.2% in FY21 to 13.1% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.0 as compared to 0.0 in FY21.

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

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)33.724.132.925.117.4
Net Profit Margin (%)21.217.825.020.213.1
Debt to Equity Ratio (x)0.00.00.00.00.0

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