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GOODLUCK INDIA 2022-23 Annual Report Analysis

Thu, 19 Oct

GOODLUCK INDIA 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.

GOODLUCK INDIA Income Statement Analysis

• Operating income during the year rose 17.6% on a year-on-year (YoY) basis.
• The company's operating profit increased by 11.7% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 6.7% in FY23 as against 7.0% in FY22.
• Depreciation charges increased by 12.5% and finance costs increased by 14.2% YoY, respectively.
• Other income grew by 280.2% YoY.
• Net profit for the year grew by 17.1% YoY.
• Net profit margins during the year declined from 2.9% in FY22 to 2.9% in FY23.

GOODLUCK INDIA Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	26,132	30,720	17.6%
Other income	Rs m	39	148	280.2%
Total Revenues	Rs m	26,171	30,868	17.9%
Gross profit	Rs m	1,830	2,044	11.7%
Depreciation	Rs m	290	326	12.5%
Interest	Rs m	573	655	14.2%
Profit before tax	Rs m	1,006	1,211	20.4%
Tax	Rs m	256	333	30.1%
Profit after tax	Rs m	750	878	17.1%
Gross profit margin	%	7.0	6.7
Effective tax rate	%	25.4	27.5
Net profit margin	%	2.9	2.9

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GOODLUCK INDIA Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 7 billion as compared to Rs 6 billion in FY22, thereby witnessing an increase of 14.1%.
• Long-term debt down at Rs 909 million as compared to Rs 1 billion during FY22, a fall of 22.6%.
• Current assets rose 20% and stood at Rs 10 billion, while fixed assets rose 12% and stood at Rs 4 billion in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 15 billion as against Rs 13 billion during FY22, thereby witnessing a growth of 17%.

GOODLUCK INDIA Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	4,659	5,993	28.6
Current Liabilities	Rs m	6,323	7,213	14.1
Long-term Debt	Rs m	1,174	909	-22.6
Total Liabilities	Rs m	12,535	14,710	17.4
Current assets	Rs m	8,527	10,218	19.8
Fixed Assets	Rs m	4,008	4,492	12.1
Total Assets	Rs m	12,535	14,710	17.4

GOODLUCK INDIA Cash Flow Statement Analysis

• GOODLUCK INDIA's cash flow from operating activities (CFO) during FY23 stood at Rs 649 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -781 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 133 million, an improvement of 112% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 1 million from the Rs -5 million net cash flows seen during FY22.

GOODLUCK INDIA 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	778	649	-16.5%
Cash Flow from Investing Activities	Rs m	-846	-781	-
Cash Flow from Financing Activities	Rs m	63	133	111.8%
Net Cash Flow	Rs m	-5	1	-

Current Valuations for GOODLUCK INDIA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 32.2, an improvement from the EPS of Rs 28.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 790.7, stands at 22.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 3.6 times, while the price to sales ratio stands at 0.7 times.
• The company's price to cash flow (P/CF) ratio stood at 9.0 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	1,004.7	1,126.9
TTM Earnings per share	Rs	28.8	32.2
Diluted earnings per share	Rs	27.5	32.2
Price to Cash Flow	x	7.2	9.0
TTM P/E ratio	x	10.0	22.6
Price / Book Value ratio	x	1.3	1.8
Market Cap	Rs m	6,046	10,776
Dividends per share (Unadj.)	Rs	3.5	4.5

Ratio Analysis for GOODLUCK INDIA

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.4x 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 improved and stood at 2.8x during FY23, from 2.8x 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 14.7% during FY23, from 16.1% 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 27.0% during FY23, from 27.1% 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 10.4% during FY23, from 10.6% 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	1.4
Debtors’ Days	Days	395	417
Interest coverage	x	2.8	2.8
Debt to equity ratio	x	0.3	0.2
Return on assets	%	10.6	10.4
Return on equity	%	16.1	14.7
Return on capital employed	%	27.1	27.0

To see how GOODLUCK INDIA has performed over the last 5 years, please visit here.

GOODLUCK INDIA Share Price Performance

Over the last one year, GOODLUCK INDIA share price has moved up from Rs 437.2 to Rs 790.7, registering a gain of Rs 353.5 or around 80.9%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 23,311.9 (down 1.0%). Over the last one year it has moved up from 18,458.9 to 23,311.9, a gain of 4,853 points (up 26.3%).

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

(To know more, check out historical annual results for GOODLUCK INDIA and quarterly results for GOODLUCK INDIA)