GOLDIAM INTERNATIONAL 2022-23 Annual Report Analysis

Tue, 26 Sep

GOLDIAM INTERNATIONAL 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.

GOLDIAM INTERNATIONAL Income Statement Analysis

• Operating income during the year fell 22.5% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 20.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 19.5% in FY23 as against 18.9% in FY22.
• Depreciation charges increased by 37.1% and finance costs decreased by 68.8% YoY, respectively.
• Other income declined by 14.4% YoY.
• Net profit for the year declined by 19.6% YoY.
• Net profit margins during the year grew from 15.4% in FY22 to 16.0% in FY23.

GOLDIAM INTERNATIONAL Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	6,877	5,332	-22.5%
Other income	Rs m	246	211	-14.4%
Total Revenues	Rs m	7,124	5,543	-22.2%
Gross profit	Rs m	1,302	1,040	-20.1%
Depreciation	Rs m	54	74	37.1%
Interest	Rs m	8	3	-68.8%
Profit before tax	Rs m	1,486	1,175	-21.0%
Tax	Rs m	427	323	-24.4%
Profit after tax	Rs m	1,060	852	-19.6%
Gross profit margin	%	18.9	19.5
Effective tax rate	%	28.7	27.5
Net profit margin	%	15.4	16.0

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GOLDIAM INTERNATIONAL Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 1 billion as compared to Rs 1 billion in FY22, thereby witnessing an increase of 4.5%.
• Current assets rose 13% and stood at Rs 6 billion, while fixed assets fell 1% and stood at Rs 663 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 7 billion as against Rs 6 billion during FY22, thereby witnessing a growth of 11%.

GOLDIAM INTERNATIONAL Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	5,199	5,857	12.6
Current Liabilities	Rs m	1,014	1,060	4.5
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	6,322	7,024	11.1
Current assets	Rs m	5,652	6,361	12.5
Fixed Assets	Rs m	670	663	-1.0
Total Assets	Rs m	6,322	7,024	11.1

GOLDIAM INTERNATIONAL Cash Flow Statement Analysis

• GOLDIAM INTERNATIONAL's cash flow from operating activities (CFO) during FY23 stood at Rs 652 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -146 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -311 million, an improvement of 66% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 194 million from the Rs -50 million net cash flows seen during FY22.

GOLDIAM INTERNATIONAL 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	-98	652	-
Cash Flow from Investing Activities	Rs m	950	-146	-
Cash Flow from Financing Activities	Rs m	-902	-311	-
Net Cash Flow	Rs m	-50	194	-

Current Valuations for GOLDIAM INTERNATIONAL

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 7.8, an decline from the EPS of Rs 9.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 127.2, stands at 16.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.3 times, while the price to sales ratio stands at 2.6 times.
• The company's price to cash flow (P/CF) ratio stood at 17.4 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	63.1	48.9
TTM Earnings per share	Rs	9.7	7.8
Diluted earnings per share	Rs	9.9	8.0
Price to Cash Flow	x	14.5	17.4
TTM P/E ratio	x	15.2	16.7
Price / Book Value ratio	x	13.5	2.8
Market Cap	Rs m	70,441	16,112
Dividends per share (Unadj.)	Rs	1.2	2.0

Ratio Analysis for GOLDIAM INTERNATIONAL

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 6.0x during FY23, from 5.6x 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 improved and stood at 458.1x during FY23, from 181.2x 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 14.5% during FY23, from 20.4% 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 20.1% during FY23, from 28.7% 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 12.2% during FY23, from 16.9% 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	5.6	6.0
Debtors’ Days	Days	949	1,009
Interest coverage	x	181.2	458.1
Debt to equity ratio	x	0.0	0.0
Return on assets	%	16.9	12.2
Return on equity	%	20.4	14.5
Return on capital employed	%	28.7	20.1

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 up from Rs 126.4 to Rs 127.2, registering a gain of Rs 0.9 or around 0.7%.

Overall, the S&P BSE SENSEX is up 11.5% over the year.

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