KABRA EXTRUSION 2021-22 Annual Report Analysis

Wed, 21 Sep

KABRA EXTRUSION 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.

KABRA EXTRUSION Income Statement Analysis

• Operating income during the year rose 46.9% on a year-on-year (YoY) basis.
• The company's operating profit increased by 33.7% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 13.5% in FY22 as against 14.9% in FY21.
• Depreciation charges increased by 16.3% and finance costs decreased by 1.0% YoY, respectively.
• Other income declined by 15.1% YoY.
• Net profit for the year grew by 23.3% YoY.
• Net profit margins during the year declined from 8.9% in FY21 to 7.5% in FY22.

KABRA EXTRUSION Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	2,762	4,059	46.9%
Other income	Rs m	29	24	-15.1%
Total Revenues	Rs m	2,791	4,083	46.3%
Gross profit	Rs m	411	550	33.7%
Depreciation	Rs m	97	112	16.3%
Interest	Rs m	27	27	-1.0%
Profit before tax	Rs m	316	435	37.5%
Tax	Rs m	71	132	87.2%
Profit after tax	Rs m	246	303	23.3%
Gross profit margin	%	14.9	13.5
Effective tax rate	%	22.3	30.4
Net profit margin	%	8.9	7.5

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KABRA EXTRUSION Balance Sheet Analysis

• The company's current liabilities during FY22 stood at Rs 2 billion as compared to Rs 1 billion in FY21, thereby witnessing an increase of 105.8%.
• Long-term debt stood at Rs 164 million as compared to Rs 129 million during FY21, a growth of 27.5%.
• Current assets rose 81% and stood at Rs 4 billion, while fixed assets rose 3% and stood at Rs 2 billion in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 6 billion as against Rs 4 billion during FY21, thereby witnessing a growth of 42%.

KABRA EXTRUSION Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	2,781	3,289	18.3
Current Liabilities	Rs m	1,047	2,154	105.8
Long-term Debt	Rs m	129	164	27.5
Total Liabilities	Rs m	3,991	5,685	42.4
Current assets	Rs m	2,025	3,657	80.6
Fixed Assets	Rs m	1,966	2,028	3.1
Total Assets	Rs m	3,991	5,685	42.4

KABRA EXTRUSION Cash Flow Statement Analysis

• KABRA EXTRUSION's cash flow from operating activities (CFO) during FY22 stood at Rs -622 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs 72 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs 532 million, an improvement of 1,240% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs -18 million from the Rs 11 million net cash flows seen during FY21.

KABRA EXTRUSION 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	381	-622	-
Cash Flow from Investing Activities	Rs m	-323	72	-
Cash Flow from Financing Activities	Rs m	-47	532	-
Net Cash Flow	Rs m	11	-18	-

Current Valuations for KABRA EXTRUSION

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.4, an improvement from the EPS of Rs 7.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 401.2, stands at 41.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 3.9 times, while the price to sales ratio stands at 3.2 times.
• The company's price to cash flow (P/CF) ratio stood at 28.0 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	86.6	126.5
TTM Earnings per share	Rs	7.7	9.4
Diluted earnings per share	Rs	7.7	9.4
Price to Cash Flow	x	16.8	28.0
TTM P/E ratio	x	23.8	41.2
Price / Book Value ratio	x	1.5	3.5
Market Cap	Rs m	4,098	11,636
Dividends per share (Unadj.)	Rs	2.5	3.0

Ratio Analysis for KABRA EXTRUSION

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.7x during FY22, from 1.9x 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 17.3x during FY22, from 12.7x 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 9.2% during FY22, from 8.8% 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 13.4% during FY22, from 11.8% 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 5.8% during FY22, from 6.8% 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	1.9	1.7
Debtors’ Days	Days	291	503
Interest coverage	x	12.7	17.3
Debt to equity ratio	x	0.0	0.0
Return on assets	%	6.8	5.8
Return on equity	%	8.8	9.2
Return on capital employed	%	11.8	13.4

To see how KABRA EXTRUSION has performed over the last 5 years, please visit here.

KABRA EXTRUSION Share Price Performance

Over the last one year, KABRA EXTRUSION share price has moved up from Rs 235.0 to Rs 401.2, registering a gain of Rs 166.2 or around 70.7%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 32,410.0 (down 1.0%). Over the last one year it has moved up from 25,887.6 to 32,410.0, a gain of 6,522 points (up 25.2%).

Overall, the S&P BSE SENSEX is up 1.9% over the year.

(To know more, check out historical annual results for KABRA EXTRUSION and quarterly results for KABRA EXTRUSION)

Read: Latest Annual Report Analysis of KABRA EXTRUSION