GATEWAY DISTRIPARKS 2021-22 Annual Report Analysis

Fri, 2 Sep

GATEWAY DISTRIPARKS 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.

GATEWAY DISTRIPARKS Income Statement Analysis

• Operating income during the year rose 16.5% on a year-on-year (YoY) basis.
• The company's operating profit increased by 17.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 26.9% in FY22 as against 26.6% in FY21.
• Depreciation charges decreased by 2.9% and finance costs decreased by 18.2% YoY, respectively.
• Other income grew by 192.6% YoY.
• Net profit for the year grew by 136.2% YoY.
• Net profit margins during the year grew from 8.0% in FY21 to 16.2% in FY22.

GATEWAY DISTRIPARKS Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	11,793	13,737	16.5%
Other income	Rs m	113	332	192.6%
Total Revenues	Rs m	11,907	14,068	18.2%
Gross profit	Rs m	3,135	3,693	17.8%
Depreciation	Rs m	1,314	1,277	-2.9%
Interest	Rs m	800	654	-18.2%
Profit before tax	Rs m	1,134	2,093	84.6%
Tax	Rs m	190	-137	NA
Profit after tax	Rs m	944	2,230	136.2%
Gross profit margin	%	26.6	26.9
Effective tax rate	%	16.7	-6.5
Net profit margin	%	8.0	16.2

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GATEWAY DISTRIPARKS Balance Sheet Analysis

• The company's current liabilities during FY22 stood at Rs 3 billion as compared to Rs 3 billion in FY21, thereby witnessing an increase of 0.5%.
• Long-term debt down at Rs 3 billion as compared to Rs 4 billion during FY21, a fall of 24.5%.
• Current assets rose 24% and stood at Rs 3 billion, while fixed assets fell 3% and stood at Rs 20 billion in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 24 billion as against Rs 23 billion during FY21, thereby witnessing a growth of 0%.

GATEWAY DISTRIPARKS Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	14,748	16,368	11.0
Current Liabilities	Rs m	3,301	3,318	0.5
Long-term Debt	Rs m	4,488	3,389	-24.5
Total Liabilities	Rs m	23,488	23,512	0.1
Current assets	Rs m	2,665	3,292	23.5
Fixed Assets	Rs m	20,823	20,219	-2.9
Total Assets	Rs m	23,488	23,512	0.1

GATEWAY DISTRIPARKS Cash Flow Statement Analysis

• GATEWAY DISTRIPARKS's cash flow from operating activities (CFO) during FY22 stood at Rs 4 billion, an improvement of 18.1% on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs -408 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs -2 billion, an improvement of 8% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs 1 billion from the Rs 1 billion net cash flows seen during FY21.

GATEWAY DISTRIPARKS 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	3,076	3,634	18.1%
Cash Flow from Investing Activities	Rs m	240	-408	-
Cash Flow from Financing Activities	Rs m	-2,284	-2,108	-
Net Cash Flow	Rs m	1,032	1,119	8.4%

Current Valuations for GATEWAY DISTRIPARKS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 4.5, an improvement from the EPS of Rs 1.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 68.2, stands at 14.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.1 times, while the price to sales ratio stands at 2.5 times.
• The company's price to cash flow (P/CF) ratio stood at 10.1 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	23.6	27.5
TTM Earnings per share	Rs	1.9	4.5
Diluted earnings per share	Rs	1.9	4.5
Price to Cash Flow	x	0.0	10.1
TTM P/E ratio	x	0.0	14.6
Price / Book Value ratio	x	4.4	2.2
Market Cap	Rs m	65,453	35,287
Dividends per share (Unadj.)	Rs	4.0	5.0

Ratio Analysis for GATEWAY DISTRIPARKS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.0x during FY22, from 0.8x 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 4.2x during FY22, from 2.4x 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 improved and stood at 13.6% during FY22, from 6.4% 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 improved and stood at 13.9% during FY22, from 10.1% 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 improved and stood at 12.3% during FY22, from 7.4% 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	0.8	1.0
Debtors’ Days	Days	402	315
Interest coverage	x	2.4	4.2
Debt to equity ratio	x	0.3	0.2
Return on assets	%	7.4	12.3
Return on equity	%	6.4	13.6
Return on capital employed	%	10.1	13.9

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

GATEWAY DISTRIPARKS Share Price Performance

Over the last one year, GATEWAY DISTRIPARKS share price has moved down from Rs 259.2 to Rs 68.2, registering a loss of Rs 191.0 or around 73.7%.

Overall, the S&P BSE SENSEX is up 3.3% over the year.

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

Read: Latest Annual Report Analysis of GATEWAY DISTRIPARKS