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GI ENGINEERING 2022-23 Annual Report Analysis

Mon, 17 Jul

GI ENGINEERING 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.

GI ENGINEERING Income Statement Analysis

• Operating income during the year rose 750243.8% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a fall and down at 0.1% in FY23 as against 19.6% in FY22.
• Depreciation charges increased by 0.0% increased by 0.0% YoY, respectively.
• Other income grew by 0.0% YoY.
• Net profit for the year grew by 41085.7% YoY.
• Net profit margins during the year declined from 6.4% in FY22 to 0.3% in FY23.

GI ENGINEERING Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	1	8,404	750,243.8%
Other income	Rs m	0	25	0.0%
Total Revenues	Rs m	1	8,429	752,452.7%
Gross profit	Rs m	0	8	NA
Depreciation	Rs m	0	0	0.0%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	0	33	NA
Tax	Rs m	0	4	NA
Profit after tax	Rs m	0	29	41,085.7%
Gross profit margin	%	-19.6	0.1
Effective tax rate	%	131.8	12.8
Net profit margin	%	6.4	0.3

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GI ENGINEERING Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 94 million as compared to Rs 1 million in FY22, thereby witnessing an increase of 11330.5%.
• Current assets rose 887% and stood at Rs 438 million, while fixed assets fell 0% and stood at Rs 0 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 438 million as against Rs 44 million during FY22, thereby witnessing a growth of 887%.

GI ENGINEERING Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	44	345	690.9
Current Liabilities	Rs m	1	94	11,330.5
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	44	438	887.1
Current assets	Rs m	44	438	887.0
Fixed Assets	Rs m	0	0	0.0
Total Assets	Rs m	44	438	887.1

GI ENGINEERING Cash Flow Statement Analysis

• GI ENGINEERING's cash flow from operating activities (CFO) during FY23 stood at Rs -69 million, an improvement of 5,574.6% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -206 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 283 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 8 million from the Rs -1 million net cash flows seen during FY22.

GI ENGINEERING 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	-1	-69	-
Cash Flow from Investing Activities	Rs m	0	-206	-
Cash Flow from Financing Activities	Rs m	0	283	0.0%
Net Cash Flow	Rs m	-1	8	-

Current Valuations for GI ENGINEERING

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.8, an improvement from the EPS of Rs 0.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 11.1, stands at 24.8 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 0.0 times.
• The company's price to cash flow (P/CF) ratio stood at 8.3 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	0.1	231.8
TTM Earnings per share	Rs	0.0	0.8
Diluted earnings per share	Rs	0.0	0.3
Price to Cash Flow	x	4,082.8	8.3
TTM P/E ratio	x	4,199.5	24.8
Price / Book Value ratio	x	0.7	0.7
Market Cap	Rs m	31	241
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for GI ENGINEERING

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 4.7x during FY23, from 54.2x during FY22. The current ratio measures the company's ability to pay short-term and long-term obligations.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company improved and stood at 8.4% during FY23, from 0.2% 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 improved and stood at 9.6% during FY23, from -0.5% 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 improved and stood at 6.6% during FY23, from 0.2% 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	54.2	4.7
Debtors’ Days	Days	0	61
Interest coverage	x	0.0	0.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	0.2	6.6
Return on equity	%	0.2	8.4
Return on capital employed	%	-0.5	9.6

To see how GI ENGINEERING has performed over the last 5 years, please visit here.

GI ENGINEERING Share Price Performance

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(To know more, check out historical annual results for GI ENGINEERING and quarterly results for GI ENGINEERING)