DHANUKA REALTY 2022-23 Annual Report Analysis

Mon, 20 Nov

DHANUKA REALTY 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.

DHANUKA REALTY Income Statement Analysis

• Operating income during the year fell 37.6% 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 stood at 64.2% in FY23 as against 16.9% in FY22.
• Depreciation charges decreased by 2.8% and finance costs decreased by 16.0% YoY, respectively.
• Other income grew by 6.6% YoY.
• Net profit for the year grew by NA YoY.
• Net profit margins during the year declined from 11.2% in FY22 to 37.8% in FY23.

DHANUKA REALTY Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	35	22	-37.6%
Other income	Rs m	14	15	6.6%
Total Revenues	Rs m	50	37	-25.0%
Gross profit	Rs m	-6	-14	NA
Depreciation	Rs m	1	1	-2.8%
Interest	Rs m	13	11	-16.0%
Profit before tax	Rs m	-6	-11	NA
Tax	Rs m	-2	-3	NA
Profit after tax	Rs m	-4	-8	NA
Gross profit margin	%	-16.9	-64.2
Effective tax rate	%	32.7	24.4
Net profit margin	%	-11.2	-37.8

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DHANUKA REALTY Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 116 million as compared to Rs 127 million in FY22, thereby witnessing an decrease of -9.0%.
• Long-term debt down at Rs 21 million as compared to Rs 24 million during FY22, a fall of 13.1%.
• Current assets fell 4% and stood at Rs 179 million, while fixed assets fell 4% and stood at Rs 26 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 205 million as against Rs 213 million during FY22, thereby witnessing a fall of 4%.

DHANUKA REALTY Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	71	80	12.9
Current Liabilities	Rs m	127	116	-9.0
Long-term Debt	Rs m	24	21	-13.1
Total Liabilities	Rs m	213	205	-3.8
Current assets	Rs m	186	179	-3.8
Fixed Assets	Rs m	27	26	-3.8
Total Assets	Rs m	213	205	-3.8

DHANUKA REALTY Cash Flow Statement Analysis

• DHANUKA REALTY 's cash flow from operating activities (CFO) during FY23 stood at Rs -2 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 0 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 0 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -3 million from the Rs 2 million net cash flows seen during FY22.

DHANUKA REALTY 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	-10	-2	-
Cash Flow from Investing Activities	Rs m	0	0	-103.0%
Cash Flow from Financing Activities	Rs m	12	0	-
Net Cash Flow	Rs m	2	-3	-

Current Valuations for DHANUKA REALTY

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -1.1, an decline from the EPS of Rs -0.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 9.1, stands at -8.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.9 times, while the price to sales ratio stands at 3.2 times.
• The company's price to cash flow (P/CF) ratio stood at -11.9 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	5.0	2.9
TTM Earnings per share	Rs	-0.6	-1.1
Diluted earnings per share	Rs	-0.5	-1.1
Price to Cash Flow	x	0.0	-11.9
TTM P/E ratio	x	0.0	-8.4
Price / Book Value ratio	x	1.5	1.1
Market Cap	Rs m	108	87
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for DHANUKA REALTY

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.5x during FY23, from 1.5x 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 0.0x during FY23, from 0.5x 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 declined and down at -10.5% during FY23, from -5.6% 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 declined and down at -0.2% during FY23, from 7.4% 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 1.2% during FY23, from 4.2% 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	1.5	1.5
Debtors’ Days	Days	927,088	409,948
Interest coverage	x	0.5	0.0
Debt to equity ratio	x	0.3	0.3
Return on assets	%	4.2	1.2
Return on equity	%	-5.6	-10.5
Return on capital employed	%	7.4	-0.2

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

DHANUKA REALTY Share Price Performance

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