GITA RENEWABLE 2021-22 Annual Report Analysis

Tue, 14 Jun

GITA RENEWABLE 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.

GITA RENEWABLE Income Statement Analysis

• Operating income during the year rose 0.0% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 95.5% YoY during the fiscal. Operating profit margins witnessed a growth and down at 269.2% in FY22 as against 5965.0% in FY21.
• Depreciation charges increased by 0.0% increased by 0.0% YoY, respectively.
• Other income grew by 1544.6% YoY.
• Net profit for the year declined by 116.8% YoY.
• Net profit margins during the year grew from 5889.6% in FY21 to 991.9% in FY22.

GITA RENEWABLE Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	2	2	0.0%
Other income	Rs m	2	30	1,544.6%
Total Revenues	Rs m	4	33	670.3%
Gross profit	Rs m	-143	-6	-95.5%
Depreciation	Rs m	0	0	0.0%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	-141	24	-116.8%
Tax	Rs m	0	0	-100.0%
Profit after tax	Rs m	-141	24	-116.8%
Gross profit margin	%	-5,965.0	-269.2
Effective tax rate	%	0.0	0.0
Net profit margin	%	-5,889.6	991.9

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GITA RENEWABLE Balance Sheet Analysis

• The company's current liabilities during FY22 down at Rs 7 million as compared to Rs 354 million in FY21, thereby witnessing an decrease of -98.1%.
• Long-term debt stood at Rs 264 million as compared to Rs 0 million during FY21, a fall of 0.0%.
• Current assets fell 47% and stood at Rs 136 million, while fixed assets rose 121% and stood at Rs 295 million in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 431 million as against Rs 389 million during FY21, thereby witnessing a growth of 11%.

GITA RENEWABLE Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	35	159	354.4
Current Liabilities	Rs m	354	7	-98.1
Long-term Debt	Rs m	0	264	0.0
Total Liabilities	Rs m	389	431	10.6
Current assets	Rs m	256	136	-47.0
Fixed Assets	Rs m	133	295	121.4
Total Assets	Rs m	389	431	10.6

GITA RENEWABLE Cash Flow Statement Analysis

• GITA RENEWABLE's cash flow from operating activities (CFO) during FY22 stood at Rs -243 million, an improvement of 5.7% on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs -44 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs 264 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs -22 million from the Rs 52 million net cash flows seen during FY21.

GITA RENEWABLE 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	-230	-243	-
Cash Flow from Investing Activities	Rs m	281	-44	-
Cash Flow from Financing Activities	Rs m	0	264	0.0%
Net Cash Flow	Rs m	52	-22	-

Current Valuations for GITA RENEWABLE

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 5.8, an improvement from the EPS of Rs -34.4 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 149.1, stands at 25.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 3.8 times, while the price to sales ratio stands at 255.3 times.
• The company's price to cash flow (P/CF) ratio stood at 30.5 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	0.6	0.6
TTM Earnings per share	Rs	-34.4	5.8
Diluted earnings per share	Rs	-34.4	5.8
Price to Cash Flow	x	-0.7	30.5
TTM P/E ratio	x	-0.7	25.7
Price / Book Value ratio	x	1.7	4.6
Market Cap	Rs m	61	726
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for GITA RENEWABLE

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 20.0x during FY22, from 0.7x during FY21. 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 14.9% during FY22, from -402.7% 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 5.6% during FY22, from -402.6% 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 5.5% during FY22, from -36.3% 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	0.7	20.0
Debtors’ Days	Days	28,761,957,721	9,143,707,771
Interest coverage	x	0.0	0.0
Debt to equity ratio	x	0.0	1.7
Return on assets	%	-36.3	5.5
Return on equity	%	-402.7	14.9
Return on capital employed	%	-402.6	5.6

To see how GITA RENEWABLE has performed over the last 5 years, please visit here.

GITA RENEWABLE Share Price Performance

Over the last one year, GITA RENEWABLE share price has moved up from Rs 61.7 to Rs 149.1, registering a gain of Rs 87.5 or around 141.8%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 18,254.9 (down 1.0%). Over the last one year it has moved up from 17,197.9 to 18,254.9, a gain of 1,057 points (up 6.1%).

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

(To know more, check out historical annual results for GITA RENEWABLE and quarterly results for GITA RENEWABLE)

Read: Latest Annual Report Analysis of GITA RENEWABLE