EASY TRIP PLANNERS 2022-23 Annual Report Analysis

Thu, 14 Sep

EASY TRIP PLANNERS 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.

EASY TRIP PLANNERS Income Statement Analysis

• Operating income during the year rose 90.7% on a year-on-year (YoY) basis.
• The company's operating profit increased by 32.8% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 39.2% in FY23 as against 56.3% in FY22.
• Depreciation charges increased by 117.1% and finance costs increased by 74.9% YoY, respectively.
• Other income grew by 6.8% YoY.
• Net profit for the year grew by 26.6% YoY.
• Net profit margins during the year declined from 45.0% in FY22 to 29.9% in FY23.

EASY TRIP PLANNERS Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	2,354	4,488	90.7%
Other income	Rs m	144	154	6.8%
Total Revenues	Rs m	2,498	4,642	85.9%
Gross profit	Rs m	1,325	1,759	32.8%
Depreciation	Rs m	13	29	117.1%
Interest	Rs m	19	34	74.9%
Profit before tax	Rs m	1,436	1,849	28.8%
Tax	Rs m	376	508	35.0%
Profit after tax	Rs m	1,059	1,341	26.6%
Gross profit margin	%	56.3	39.2
Effective tax rate	%	26.2	27.5
Net profit margin	%	45.0	29.9

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EASY TRIP PLANNERS Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 3 billion as compared to Rs 2 billion in FY22, thereby witnessing an increase of 30.7%.
• Long-term debt stood at Rs 1 million as compared to Rs 0 million during FY22, a fall of 0.0%.
• Current assets rose 100% and stood at Rs 6 billion, while fixed assets fell 71% and stood at Rs 449 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 7 billion as against Rs 5 billion during FY22, thereby witnessing a growth of 45%.

EASY TRIP PLANNERS Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	2,359	3,700	56.9
Current Liabilities	Rs m	2,442	3,192	30.7
Long-term Debt	Rs m	0	1	0.0
Total Liabilities	Rs m	4,788	6,924	44.6
Current assets	Rs m	3,233	6,475	100.3
Fixed Assets	Rs m	1,555	449	-71.1
Total Assets	Rs m	4,788	6,924	44.6

EASY TRIP PLANNERS Cash Flow Statement Analysis

• EASY TRIP PLANNERS's cash flow from operating activities (CFO) during FY23 stood at Rs -1 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 826 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 38 million, an improvement of 112% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -330 million from the Rs -673 million net cash flows seen during FY22.

EASY TRIP PLANNERS 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	202	-1,194	-
Cash Flow from Investing Activities	Rs m	-564	826	-
Cash Flow from Financing Activities	Rs m	-311	38	-
Net Cash Flow	Rs m	-673	-330	-

Current Valuations for EASY TRIP PLANNERS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.8, an decline from the EPS of Rs 4.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 39.1, stands at 53.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 18.4 times, while the price to sales ratio stands at 15.1 times.
• The company's price to cash flow (P/CF) ratio stood at 71.5 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	10.8	2.6
TTM Earnings per share	Rs	4.9	0.8
Diluted earnings per share	Rs	0.6	0.8
Price to Cash Flow	x	69.1	71.5
TTM P/E ratio	x	70.0	53.5
Price / Book Value ratio	x	39.8	26.5
Market Cap	Rs m	93,978	97,998
Dividends per share (Unadj.)	Rs	0.5	0.0

Ratio Analysis for EASY TRIP PLANNERS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.0x during FY23, from 1.3x 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 55.3x during FY23, from 74.7x 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 36.2% during FY23, from 44.9% 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 50.9% during FY23, from 61.7% 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 19.9% during FY23, from 22.5% 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	1.3	2.0
Debtors’ Days	Days	82	127
Interest coverage	x	74.7	55.3
Debt to equity ratio	x	0.0	0.0
Return on assets	%	22.5	19.9
Return on equity	%	44.9	36.2
Return on capital employed	%	61.7	50.9

To see how EASY TRIP PLANNERS has performed over the last 5 years, please visit here.

EASY TRIP PLANNERS Share Price Performance

Over the last one year, EASY TRIP PLANNERS share price has moved down from Rs 49.4 to Rs 39.1, registering a loss of Rs 10.3 or around 20.9%.

Overall, the S&P BSE SENSEX is up 12.3% over the year.

(To know more, check out historical annual results for EASY TRIP PLANNERS and quarterly results for EASY TRIP PLANNERS)