DHAMPURE SPL. 2021-22 Annual Report Analysis

Mon, 26 Dec

DHAMPURE SPL. 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.

DHAMPURE SPL. Income Statement Analysis

• Operating income during the year rose 50.1% on a year-on-year (YoY) basis.
• The company's operating profit increased by 124.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 2.1% in FY22 as against 1.4% in FY21.
• Depreciation charges increased by 23.9% and finance costs decreased by 72.7% YoY, respectively.
• Other income declined by 81.9% YoY.
• Net profit for the year declined by 73.9% YoY.
• Net profit margins during the year declined from 10.3% in FY21 to 1.8% in FY22.

DHAMPURE SPL. Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	158	238	50.1%
Other income	Rs m	20	4	-81.9%
Total Revenues	Rs m	178	241	35.5%
Gross profit	Rs m	2	5	124.0%
Depreciation	Rs m	3	4	23.9%
Interest	Rs m	0	0	-72.7%
Profit before tax	Rs m	19	5	-74.2%
Tax	Rs m	3	1	-75.8%
Profit after tax	Rs m	16	4	-73.9%
Gross profit margin	%	1.4	2.1
Effective tax rate	%	13.6	12.8
Net profit margin	%	10.3	1.8

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DHAMPURE SPL. Balance Sheet Analysis

• The company's current liabilities during FY22 down at Rs 31 million as compared to Rs 83 million in FY21, thereby witnessing an decrease of -61.9%.
• Current assets rose 20% and stood at Rs 91 million, while fixed assets fell 10% and stood at Rs 260 million in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 351 million as against Rs 365 million during FY21, thereby witnessing a fall of 4%.

DHAMPURE SPL. Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	242	237	-2.1
Current Liabilities	Rs m	83	31	-61.9
Long-term Debt	Rs m	0	0	-100.0
Total Liabilities	Rs m	365	351	-3.8
Current assets	Rs m	76	91	19.7
Fixed Assets	Rs m	289	260	-9.9
Total Assets	Rs m	365	351	-3.8

DHAMPURE SPL. Cash Flow Statement Analysis

• DHAMPURE SPL.'s cash flow from operating activities (CFO) during FY22 stood at Rs -60 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs 17 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs 44 million, an improvement of 5,369% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs 1 million from the Rs 4 million net cash flows seen during FY21.

DHAMPURE SPL. 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	34	-60	-
Cash Flow from Investing Activities	Rs m	-29	17	-
Cash Flow from Financing Activities	Rs m	-1	44	-
Net Cash Flow	Rs m	4	1	-85.5%

Current Valuations for DHAMPURE SPL.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.5, an decline from the EPS of Rs 2.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 31.9, stands at -67.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.1 times, while the price to sales ratio stands at 1.1 times.
• The company's price to cash flow (P/CF) ratio stood at 37.3 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	20.0	30.0
TTM Earnings per share	Rs	2.0	0.5
Diluted earnings per share	Rs	2.0	0.5
Price to Cash Flow	x	9.7	37.3
TTM P/E ratio	x	11.4	-67.8
Price / Book Value ratio	x	0.6	1.2
Market Cap	Rs m	141	293
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for DHAMPURE SPL.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.9x during FY22, from 0.9x 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 deteriorated and stood at 163.0x during FY22, from 172.0x 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 1.8% during FY22, from 6.7% 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 2.1% during FY22, from 7.8% 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 1.2% during FY22, from 4.5% 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	0.9	2.9
Debtors’ Days	Days	58,311,839	26,724,968
Interest coverage	x	172.0	163.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	4.5	1.2
Return on equity	%	6.7	1.8
Return on capital employed	%	7.8	2.1

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

DHAMPURE SPL. Share Price Performance

Over the last one year, DHAMPURE SPL. share price has moved down from Rs 33.5 to Rs 31.9, registering a loss of Rs 1.6 or around 4.8%.

Overall, the S&P BSE SENSEX is up 6.0% over the year.

(To know more, check out historical annual results for DHAMPURE SPL. and quarterly results for DHAMPURE SPL.)

Read: Latest Annual Report Analysis of DHAMPURE SPL.