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GODAWARI POWER 2022-23 Annual Report Analysis
Thu, 31 Aug

GODAWARI POWER 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.

GODAWARI POWER Income Statement Analysis

  • Operating income during the year rose 6.6% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 44.6% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 19.5% in FY23 as against 37.5% in FY22.
  • Depreciation charges increased by 18.0% and finance costs increased by 3.6% YoY, respectively.
  • Other income grew by 242.8% YoY.
  • Net profit for the year declined by 46.5% YoY.
  • Net profit margins during the year declined from 27.4% in FY22 to 13.8% in FY23.

GODAWARI POWER Income Statement 2022-23

No. of Mths Year Ending 12 Mar-22* 12 Mar-23* % Change
Net Sales Rs m 53,992 57,530 6.6%
Other income Rs m 304 1,042 242.8%
Total Revenues Rs m 54,296 58,573 7.9%
Gross profit Rs m 20,270 11,223 -44.6%
Depreciation Rs m 1,047 1,235 18.0%
Interest Rs m 197 204 3.6%
Profit before tax Rs m 19,331 10,826 -44.0%
Tax Rs m 4,511 2,892 -35.9%
Profit after tax Rs m 14,819 7,934 -46.5%
Gross profit margin % 37.5 19.5
Effective tax rate % 23.3 26.7
Net profit margin % 27.4 13.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Find Out: The Best Way to Tap into Rising Demand of Lithium in India

GODAWARI POWER Balance Sheet Analysis

  • The company's current liabilities during FY23 down at Rs 9 billion as compared to Rs 12 billion in FY22, thereby witnessing an decrease of -24.1%.
  • Long-term debt down at Rs 94 million as compared to Rs 102 million during FY22, a fall of 7.9%.
  • Current assets fell 2% and stood at Rs 23 billion, while fixed assets rose 13% and stood at Rs 28 billion in FY23.
  • Overall, the total assets and liabilities for FY23 stood at Rs 52 billion as against Rs 49 billion during FY22, thereby witnessing a growth of 6%.

GODAWARI POWER Balance Sheet as on March 2023

No. of Mths Year Ending 12 Mar-22* 12 Mar-23* % Change
Networth Rs m 33,123 39,055 17.9
 
Current Liabilities Rs m 12,491 9,477 -24.1
Long-term Debt Rs m 102 94 -7.9
Total Liabilities Rs m 48,899 51,594 5.5
 
Current assets Rs m 23,789 23,227 -2.4
Fixed Assets Rs m 25,110 28,366 13.0
Total Assets Rs m 48,899 51,594 5.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



GODAWARI POWER Cash Flow Statement Analysis

  • GODAWARI POWER's cash flow from operating activities (CFO) during FY23 stood at Rs 10 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY23 stood at Rs -2 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY23 stood at Rs -2 billion on a YoY basis.
  • Overall, net cash flows for the company during FY23 stood at Rs 5 billion from the Rs 24 million net cash flows seen during FY22.

GODAWARI POWER 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 13,303 9,624 -27.7%
Cash Flow from Investing Activities Rs m -10,956 -2,288 -
Cash Flow from Financing Activities Rs m -2,329 -2,463 -
Net Cash Flow Rs m 24 4,963 20,562.1%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for GODAWARI POWER

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 61.2, an decline from the EPS of Rs 112.6 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 592.7, stands at 11.8 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 1.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 5.1 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 410.1 443.5
TTM Earnings per share Rs 112.6 61.2
Diluted earnings per share Rs 109.0 58.4
Price to Cash Flow x 3.3 5.1
TTM P/E ratio x 3.8 11.8
Price / Book Value ratio x 1.4 1.2
Market Cap Rs m 46,296 46,743
Dividends per share (Unadj.) Rs 11.0 4.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for GODAWARI POWER

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.5x during FY23, from 1.9x 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 deteriorated and stood at 54.1x during FY23, from 99.2x 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 20.3% during FY23, from 44.7% 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 28.2% during FY23, from 58.8% 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 15.8% during FY23, from 30.7% 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 1.9 2.5
Debtors’ Days Days 237 188
Interest coverage x 99.2 54.1
Debt to equity ratio x 0.0 0.0
Return on assets % 30.7 15.8
Return on equity % 44.7 20.3
Return on capital employed % 58.8 28.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how GODAWARI POWER has performed over the last 5 years, please visit here.

GODAWARI POWER Share Price Performance

Over the last one year, GODAWARI POWER share price has moved up from Rs 295.1 to Rs 592.7, registering a gain of Rs 297.6 or around 100.8%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 21,751.0 (up 0.7%). Over the last one year it has moved up from 19,166.1 to 21,751.0, a gain of 2,585 points (up 13.5%).

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

(To know more, check out historical annual results for GODAWARI POWER and quarterly results for GODAWARI POWER)

Annual Report FAQs

What is the current share price of GODAWARI POWER?

GODAWARI POWER currently trades at Rs 765.1 per share. You can check out the latest share price performance of GODAWARI POWER here...

What was the revenue of GODAWARI POWER in FY23? How does it compare to earlier years?

The revenues of GODAWARI POWER stood at Rs 58,573 m in FY23, which was up 7.9% compared to Rs 54,296 m reported in FY22.

GODAWARI POWER's revenue has grown from Rs 33,275 m in FY19 to Rs 58,573 m in FY23.

Over the past 5 years, the revenue of GODAWARI POWER has grown at a CAGR of 15.2%.

What was the net profit of GODAWARI POWER in FY23? How does it compare to earlier years?

The net profit of GODAWARI POWER stood at Rs 7,934 m in FY23, which was down -46.5% compared to Rs 14,819 m reported in FY22.

This compares to a net profit of Rs 6,094 m in FY21 and a net profit of Rs 1,744 m in FY20.

Over the past 5 years, GODAWARI POWER net profit has grown at a CAGR of 32.6%.

What does the cash flow statement of GODAWARI POWER reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of GODAWARI POWER reveals:

  • Cash flow from operations decreased in FY23 and stood at Rs 9,624 m as compared to Rs 13,303 m in FY22.
  • Cash flow from investments increased in FY23 and stood at Rs -2,288 m as compared to Rs -10,956 m in FY22.
  • Cash flow from financial activity decreased in FY23 and stood at Rs -2,463 m as compared to Rs -2,329 m in FY22.

Here's the cash flow statement of GODAWARI POWER for the past 5 years.

(Rs m)FY19FY20FY21FY22FY23
From Operations5,4985,5089,68813,3039,624
From Investments-664-1,501-622-10,956-2,288
From Financial Activity-4,907-4,008-9,001-2,329-2,463
Net Cashflow-73-164244,963

What does the Key Ratio analysis of GODAWARI POWER reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of GODAWARI POWER reveals:

  • Operating profit margins witnessed a fall and stood at 19.5% in FY23 as against 37.5% in FY22.
  • Net profit margins declined from 27.4% in FY22 to 13.8% in FY23.
  • Debt to Equity ratio for FY23 stood at 0.0 as compared to 0.0 in FY22.

Here's the ratio/financial analysis of GODAWARI POWER for the past 5 years.

 FY19FY20FY21FY22FY23
Operating Profit Margin (%)23.818.628.737.519.5
Net Profit Margin (%)7.75.315.427.413.8
Debt to Equity Ratio (x)1.41.10.40.00.0

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