DALAL STREET INVESTMENTS 2022-23 Annual Report Analysis

Tue, 31 Oct

DALAL STREET INVESTMENTS 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.

DALAL STREET INVESTMENTS Income Statement Analysis

• Operating income during the year rose 195.8% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and down at 0.8% in FY23 as against 36.1% in FY22.
• Depreciation charges increased by 400.0% and finance costs decreased by 55.0% YoY, respectively.
• Other income declined by 52.0% YoY.
• Net profit for the year grew by 195.8% YoY.
• Net profit margins during the year grew from 6.6% in FY22 to 6.7% in FY23.

DALAL STREET INVESTMENTS Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	4	11	195.8%
Other income	Rs m	5	2	-52.0%
Total Revenues	Rs m	9	13	52.7%
Gross profit	Rs m	-1	0	NA
Depreciation	Rs m	0	0	400.0%
Interest	Rs m	3	2	-55.0%
Profit before tax	Rs m	0	1	195.8%
Tax	Rs m	0	0	0.0
Profit after tax	Rs m	0	1	195.8%
Gross profit margin	%	-36.1	-0.8
Effective tax rate	%	0.0	0.0
Net profit margin	%	6.6	6.7

5 PM TODAY: Golden Buying Window to Ride India's Potentially Decade-Long $10 Trillion Bull Run...

DALAL STREET INVESTMENTS Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 15 million as compared to Rs 2 million in FY22, thereby witnessing an increase of 735.2%.
• Current assets fell 80% and stood at Rs 7 million, while fixed assets fell 2% and stood at Rs 55 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 63 million as against Rs 94 million during FY22, thereby witnessing a fall of 33%.

DALAL STREET INVESTMENTS Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	49	48	-1.1
Current Liabilities	Rs m	2	15	735.2
Long-term Debt	Rs m	43	0	-100.0
Total Liabilities	Rs m	94	63	-33.0
Current assets	Rs m	37	7	-80.3
Fixed Assets	Rs m	56	55	-1.8
Total Assets	Rs m	94	63	-33.0

DALAL STREET INVESTMENTS Cash Flow Statement Analysis

• DALAL STREET INVESTMENTS 's cash flow from operating activities (CFO) during FY23 stood at Rs 3 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 1 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -33 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -29 million from the Rs -2 million net cash flows seen during FY22.

DALAL STREET INVESTMENTS 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	8	3	-55.4%
Cash Flow from Investing Activities	Rs m	-9	1	-
Cash Flow from Financing Activities	Rs m	0	-33	-
Net Cash Flow	Rs m	-2	-29	-

Current Valuations for DALAL STREET INVESTMENTS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 2.2, an improvement from the EPS of Rs 0.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 297.8, stands at 45.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.0 times, while the price to sales ratio stands at 8.9 times.
• The company's price to cash flow (P/CF) ratio stood at 109.3 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	11.3	33.3
TTM Earnings per share	Rs	0.8	2.2
Diluted earnings per share	Rs	0.8	2.3
Price to Cash Flow	x	355.1	109.3
TTM P/E ratio	x	361.1	45.6
Price / Book Value ratio	x	1.8	1.7
Market Cap	Rs m	86	83
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for DALAL STREET INVESTMENTS

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 0.5x during FY23, from 21.2x 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 improved and stood at 1.5x during FY23, from 1.1x 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 1.5% during FY23, from 0.5% 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 4.6% during FY23, from 3.9% 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 3.6% during FY23, from 3.9% 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	21.2	0.5
Debtors’ Days	Days	38,731	100,007
Interest coverage	x	1.1	1.5
Debt to equity ratio	x	0.9	0.0
Return on assets	%	3.9	3.6
Return on equity	%	0.5	1.5
Return on capital employed	%	3.9	4.6

To see how DALAL STREET INVESTMENTS has performed over the last 5 years, please visit here.

DALAL STREET INVESTMENTS Share Price Performance

Over the last one year, DALAL STREET INVESTMENTS share price has moved {{varPrevCurrYearUpDown}} from Rs {{varLastYearSameDayValue}} to Rs {{varCurrYearCurrDayValue}}, registering a {{varPrevCurrYearComp}} of Rs {{varPrevCurrYearCompValue}} or around {{varPrevCurrYearCompPerValue}}%.

Meanwhile, the{{varBSEIndexName}} is trading at Rs {{varBSEIndexValue}} ({{varBSEIndexPrevCurrComp}} {{varBSEIndexPrevCurrPerValue}}%). Over the last one year it has moved {{varBSEIndexPrevCurrYearComp}} from {{varBSEIndexPrevYearValue}} to {{varBSEIndexCurrentYearValue}}, a {{varBSEIndexPrevCurrGainLoss}} of {{varBSEIndexPrevCurrSubstraction}} points ({{varBSEIndexPrevCurrYearCompOverYear}} {{varBSEIndexPrevCurrPerValueOverYear}}%).

Overall, the {{varBSESensexName}} is {{varBSESensexCurrStatus}} {{varBSESensexCurrValue}}% over the year.

(To know more, check out historical annual results for DALAL STREET INVESTMENTS and quarterly results for DALAL STREET INVESTMENTS )