INFOBEANS TECHNOLOGY 2021-22 Annual Report Analysis

Tue, 8 Nov

INFOBEANS TECHNOLOGY 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.

INFOBEANS TECHNOLOGY Income Statement Analysis

• Operating income during the year rose 50.5% on a year-on-year (YoY) basis.
• The company's operating profit increased by 75.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 24.8% in FY22 as against 21.3% in FY21.
• Depreciation charges increased by 25.7% and finance costs increased by 43.2% YoY, respectively.
• Other income grew by 11.0% YoY.
• Net profit for the year grew by 49.4% YoY.
• Net profit margins during the year declined from 20.4% in FY21 to 20.3% in FY22.

INFOBEANS TECHNOLOGY Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	1,803	2,714	50.5%
Other income	Rs m	160	177	11.0%
Total Revenues	Rs m	1,963	2,891	47.3%
Gross profit	Rs m	384	673	75.2%
Depreciation	Rs m	161	203	25.7%
Interest	Rs m	32	46	43.2%
Profit before tax	Rs m	351	602	71.7%
Tax	Rs m	-18	51	NA
Profit after tax	Rs m	368	550	49.4%
Gross profit margin	%	21.3	24.8
Effective tax rate	%	-5.1	8.5
Net profit margin	%	20.4	20.3

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INFOBEANS TECHNOLOGY Balance Sheet Analysis

• The company's current liabilities during FY22 stood at Rs 1 billion as compared to Rs 251 million in FY21, thereby witnessing an increase of 383.4%.
• Current assets rose 62% and stood at Rs 1 billion, while fixed assets rose 72% and stood at Rs 3 billion in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 4 billion as against Rs 2 billion during FY21, thereby witnessing a growth of 68%.

INFOBEANS TECHNOLOGY Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	1,780	2,285	28.4
Current Liabilities	Rs m	251	1,211	383.4
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	2,431	4,095	68.4
Current assets	Rs m	907	1,471	62.1
Fixed Assets	Rs m	1,524	2,624	72.2
Total Assets	Rs m	2,431	4,095	68.4

INFOBEANS TECHNOLOGY Cash Flow Statement Analysis

• INFOBEANS TECHNOLOGY 's cash flow from operating activities (CFO) during FY22 stood at Rs 810 million, an improvement of 126.6% on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs -476 million, an improvement of 134.7% on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs -151 million on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs 184 million from the Rs 118 million net cash flows seen during FY21.

INFOBEANS TECHNOLOGY 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	358	810	126.6%
Cash Flow from Investing Activities	Rs m	-203	-476	-
Cash Flow from Financing Activities	Rs m	-37	-151	-
Net Cash Flow	Rs m	118	184	55.3%

Current Valuations for INFOBEANS TECHNOLOGY

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 22.8, an improvement from the EPS of Rs 15.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 528.1, stands at 22.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 5.6 times, while the price to sales ratio stands at 4.7 times.
• The company's price to cash flow (P/CF) ratio stood at 15.1 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	75.1	112.3
TTM Earnings per share	Rs	15.3	22.8
Diluted earnings per share	Rs	15.2	22.7
Price to Cash Flow	x	0.0	15.1
TTM P/E ratio	x	0.0	22.7
Price / Book Value ratio	x	1.7	5.0
Market Cap	Rs m	3,092	11,397
Dividends per share (Unadj.)	Rs	3.0	1.0

Ratio Analysis for INFOBEANS TECHNOLOGY

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.2x during FY22, from 3.6x during FY21. 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 14.1x during FY22, from 11.9x during FY21. 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 improved and stood at 24.1% during FY22, from 20.7% 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 28.3% during FY22, from 21.5% 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 declined and down at 14.6% during FY22, from 16.5% 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	3.6	1.2
Debtors’ Days	Days	799	878
Interest coverage	x	11.9	14.1
Debt to equity ratio	x	0.0	0.0
Return on assets	%	16.5	14.6
Return on equity	%	20.7	24.1
Return on capital employed	%	21.5	28.3

To see how INFOBEANS TECHNOLOGY has performed over the last 5 years, please visit here.

INFOBEANS TECHNOLOGY Share Price Performance

Over the last one year, INFOBEANS TECHNOLOGY share price has moved down from Rs 0.0 to Rs 0.0, registering a loss of Rs 0.0 or around 0.0%.

Overall, the NIFTY 50 is up 0.5% over the year.

(To know more, check out historical annual results for INFOBEANS TECHNOLOGY and quarterly results for INFOBEANS TECHNOLOGY )

Read: Latest Annual Report Analysis of INFOBEANS TECHNOLOGY