IL&FS INV. MANAGERS 2022-23 Annual Report Analysis

Fri, 11 Aug

IL&FS INV. MANAGERS 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.

IL&FS INV. MANAGERS Income Statement Analysis

• Operating income during the year rose 54.7% 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 16.7% in FY23 as against 0.7% in FY22.
• Depreciation charges decreased by 9.5% increased by 0.0% YoY, respectively.
• Other income declined by 29.8% YoY.
• Net profit for the year grew by 29.6% YoY.
• Net profit margins during the year declined from 31.5% in FY22 to 26.4% in FY23.

IL&FS INV. MANAGERS Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	417	644	54.7%
Other income	Rs m	158	111	-29.8%
Total Revenues	Rs m	574	755	31.5%
Gross profit	Rs m	-3	107	NA
Depreciation	Rs m	2	2	-9.5%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	153	216	41.6%
Tax	Rs m	21	46	115.0%
Profit after tax	Rs m	131	170	29.6%
Gross profit margin	%	-0.7	16.7
Effective tax rate	%	14.1	21.4
Net profit margin	%	31.5	26.4

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IL&FS INV. MANAGERS Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 177 million as compared to Rs 127 million in FY22, thereby witnessing an increase of 39.0%.
• Current assets rose 1% and stood at Rs 2 billion, while fixed assets rose 68% and stood at Rs 312 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 3 billion as against Rs 3 billion during FY22, thereby witnessing a growth of 6%.

IL&FS INV. MANAGERS Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	2,107	2,164	2.7
Current Liabilities	Rs m	127	177	39.0
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	2,551	2,700	5.8
Current assets	Rs m	2,366	2,389	1.0
Fixed Assets	Rs m	186	312	67.7
Total Assets	Rs m	2,551	2,700	5.8

IL&FS INV. MANAGERS Cash Flow Statement Analysis

• IL&FS INV. MANAGERS's cash flow from operating activities (CFO) during FY23 stood at Rs -5 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -362 million, an improvement of 138.7% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -161 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -458 million from the Rs -152 million net cash flows seen during FY22.

IL&FS INV. MANAGERS 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	64	-5	-
Cash Flow from Investing Activities	Rs m	-152	-362	-
Cash Flow from Financing Activities	Rs m	-94	-161	-
Net Cash Flow	Rs m	-152	-458	-

Current Valuations for IL&FS INV. MANAGERS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.5, an improvement from the EPS of Rs 0.4 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 9.0, stands at 20.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.3 times, while the price to sales ratio stands at 4.4 times.
• The company's price to cash flow (P/CF) ratio stood at 14.4 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	1.3	2.1
TTM Earnings per share	Rs	0.4	0.5
Diluted earnings per share	Rs	0.4	0.5
Price to Cash Flow	x	15.8	14.4
TTM P/E ratio	x	16.0	20.5
Price / Book Value ratio	x	1.1	1.1
Market Cap	Rs m	2,366	2,467
Dividends per share (Unadj.)	Rs	0.4	0.8

Ratio Analysis for IL&FS INV. MANAGERS

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 13.5x during FY23, from 18.6x 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 7.9% during FY23, from 6.2% 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 10.0% during FY23, from 7.2% 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 6.3% during FY23, from 5.1% 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	18.6	13.5
Debtors’ Days	Days	789	970
Interest coverage	x	0.0	0.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	5.1	6.3
Return on equity	%	6.2	7.9
Return on capital employed	%	7.2	10.0

To see how IL&FS INV. MANAGERS has performed over the last 5 years, please visit here.

IL&FS INV. MANAGERS Share Price Performance

Over the last one year, IL&FS INV. MANAGERS share price has moved up from Rs 6.7 to Rs 9.0, registering a gain of Rs 2.3 or around 35.1%.

Overall, the S&P BSE SENSEX is up 11.7% over the year.

(To know more, check out historical annual results for IL&FS INV. MANAGERS and quarterly results for IL&FS INV. MANAGERS)