GOLDIAM INTERNATIONAL 2021-22 Annual Report Analysis

Mon, 19 Sep

GOLDIAM INTERNATIONAL 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.

GOLDIAM INTERNATIONAL Income Statement Analysis

• Operating income during the year rose 69.4% on a year-on-year (YoY) basis.
• The company's operating profit increased by 38.3% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 18.9% in FY22 as against 23.2% in FY21.
• Depreciation charges increased by 48.9% and finance costs increased by 57.7% YoY, respectively.
• Other income grew by 241.5% YoY.
• Net profit for the year grew by 57.9% YoY.
• Net profit margins during the year declined from 16.5% in FY21 to 15.4% in FY22.

GOLDIAM INTERNATIONAL Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	4,060	6,877	69.4%
Other income	Rs m	72	246	241.5%
Total Revenues	Rs m	4,132	7,124	72.4%
Gross profit	Rs m	941	1,302	38.3%
Depreciation	Rs m	36	54	48.9%
Interest	Rs m	5	8	57.7%
Profit before tax	Rs m	972	1,486	52.9%
Tax	Rs m	301	427	41.8%
Profit after tax	Rs m	671	1,060	57.9%
Gross profit margin	%	23.2	18.9
Effective tax rate	%	31.0	28.7
Net profit margin	%	16.5	15.4

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GOLDIAM INTERNATIONAL Balance Sheet Analysis

• The company's current liabilities during FY22 down at Rs 1 billion as compared to Rs 1 billion in FY21, thereby witnessing an decrease of -22.1%.
• Current assets rose 7% and stood at Rs 6 billion, while fixed assets fell 21% and stood at Rs 670 million in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 6 billion as against Rs 6 billion during FY21, thereby witnessing a growth of 3%.

GOLDIAM INTERNATIONAL Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	4,648	5,199	11.9
Current Liabilities	Rs m	1,301	1,014	-22.1
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	6,136	6,322	3.0
Current assets	Rs m	5,289	5,652	6.9
Fixed Assets	Rs m	847	670	-20.9
Total Assets	Rs m	6,136	6,322	3.0

GOLDIAM INTERNATIONAL Cash Flow Statement Analysis

• GOLDIAM INTERNATIONAL's cash flow from operating activities (CFO) during FY22 stood at Rs -98 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs 950 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs -902 million on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs -50 million from the Rs 370 million net cash flows seen during FY21.

GOLDIAM INTERNATIONAL 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	491	-98	-
Cash Flow from Investing Activities	Rs m	-117	950	-
Cash Flow from Financing Activities	Rs m	-3	-902	-
Net Cash Flow	Rs m	370	-50	-

Current Valuations for GOLDIAM INTERNATIONAL

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.7, an decline from the EPS of Rs 30.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 135.9, stands at 14.3 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.8 times, while the price to sales ratio stands at 2.2 times.
• The company's price to cash flow (P/CF) ratio stood at 63.3 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	183.1	63.1
TTM Earnings per share	Rs	30.3	9.7
Diluted earnings per share	Rs	6.2	9.7
Price to Cash Flow	x	52.5	63.3
TTM P/E ratio	x	55.4	14.3
Price / Book Value ratio	x	1.1	13.5
Market Cap	Rs m	5,112	70,441
Dividends per share (Unadj.)	Rs	1.6	1.2

Ratio Analysis for GOLDIAM INTERNATIONAL

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 5.6x during FY22, from 4.1x 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 181.2x during FY22, from 186.9x 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 20.4% during FY22, from 14.4% 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 28.7% during FY22, from 21.0% 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 16.9% during FY22, from 11.0% 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	4.1	5.6
Debtors’ Days	Days	1,161	949
Interest coverage	x	186.9	181.2
Debt to equity ratio	x	0.0	0.0
Return on assets	%	11.0	16.9
Return on equity	%	14.4	20.4
Return on capital employed	%	21.0	28.7

To see how GOLDIAM INTERNATIONAL has performed over the last 5 years, please visit here.

GOLDIAM INTERNATIONAL Share Price Performance

Over the last one year, GOLDIAM INTERNATIONAL share price has moved down from Rs 906.1 to Rs 135.9, registering a loss of Rs 770.2 or around 85.0%.

Overall, the S&P BSE SENSEX is up 0.8% over the year.

(To know more, check out historical annual results for GOLDIAM INTERNATIONAL and quarterly results for GOLDIAM INTERNATIONAL)

Read: Latest Annual Report Analysis of GOLDIAM INTERNATIONAL