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KOLTE PATIL 2022-23 Annual Report Analysis
Tue, 15 Aug

KOLTE PATIL 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.

KOLTE PATIL Income Statement Analysis

  • Operating income during the year rose 33.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 1.6% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 12.7% in FY23 as against 16.7% in FY22.
  • Depreciation charges increased by 11.3% and finance costs decreased by 18.7% YoY, respectively.
  • Other income grew by 71.3% YoY.
  • Net profit for the year grew by 21.4% YoY.
  • Net profit margins during the year declined from 8.4% in FY22 to 7.6% in FY23.

KOLTE PATIL Income Statement 2022-23

No. of Mths Year Ending 12 Mar-22* 12 Mar-23* % Change
Net Sales Rs m 11,175 14,884 33.2%
Other income Rs m 190 326 71.3%
Total Revenues Rs m 11,365 15,210 33.8%
Gross profit Rs m 1,862 1,893 1.6%
Depreciation Rs m 104 116 11.3%
Interest Rs m 500 407 -18.7%
Profit before tax Rs m 1,448 1,696 17.1%
Tax Rs m 514 563 9.4%
Profit after tax Rs m 934 1,134 21.4%
Gross profit margin % 16.7 12.7
Effective tax rate % 35.5 33.2
Net profit margin % 8.4 7.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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KOLTE PATIL Balance Sheet Analysis

  • The company's current liabilities during FY23 stood at Rs 27 billion as compared to Rs 27 billion in FY22, thereby witnessing an increase of 1.3%.
  • Long-term debt stood at Rs 3 billion as compared to Rs 2 billion during FY22, a growth of 40.0%.
  • Current assets rose 5% and stood at Rs 35 billion, while fixed assets rose 15% and stood at Rs 6 billion in FY23.
  • Overall, the total assets and liabilities for FY23 stood at Rs 40 billion as against Rs 38 billion during FY22, thereby witnessing a growth of 6%.

KOLTE PATIL Balance Sheet as on March 2023

No. of Mths Year Ending 12 Mar-22* 12 Mar-23* % Change
Networth Rs m 9,593 10,464 9.1
 
Current Liabilities Rs m 26,631 26,983 1.3
Long-term Debt Rs m 2,494 3,492 40.0
Total Liabilities Rs m 37,983 40,413 6.4
 
Current assets Rs m 33,050 34,722 5.1
Fixed Assets Rs m 4,933 5,690 15.3
Total Assets Rs m 37,983 40,413 6.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



KOLTE PATIL Cash Flow Statement Analysis

  • KOLTE PATIL's cash flow from operating activities (CFO) during FY23 stood at Rs 2 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY23 stood at Rs -453 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY23 stood at Rs -682 million, an improvement of 67% on a YoY basis.
  • Overall, net cash flows for the company during FY23 stood at Rs 793 million from the Rs 340 million net cash flows seen during FY22.

KOLTE PATIL 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 3,549 1,925 -45.8%
Cash Flow from Investing Activities Rs m -1,152 -453 -
Cash Flow from Financing Activities Rs m -2,058 -682 -
Net Cash Flow Rs m 340 793 133.6%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for KOLTE PATIL

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 14.9, an improvement from the EPS of Rs 12.3 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 444.4, stands at 24.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.2 times, while the price to sales ratio stands at 2.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 18.2 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 147.0 195.8
TTM Earnings per share Rs 12.3 14.9
Diluted earnings per share Rs 12.3 14.9
Price to Cash Flow x 20.7 18.2
TTM P/E ratio x 24.8 24.9
Price / Book Value ratio x 2.2 2.2
Market Cap Rs m 21,547 22,710
Dividends per share (Unadj.) Rs 2.0 4.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for KOLTE PATIL

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.3x during FY23, from 1.2x 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 improved and stood at 5.2x during FY23, from 3.9x 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 improved and stood at 10.8% during FY23, from 9.7% 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 15.1% during FY23, from 16.1% 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 3.8% during FY23, from 3.8% 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 1.2 1.3
Debtors’ Days Days 84 67
Interest coverage x 3.9 5.2
Debt to equity ratio x 0.3 0.3
Return on assets % 3.8 3.8
Return on equity % 9.7 10.8
Return on capital employed % 16.1 15.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how KOLTE PATIL has performed over the last 5 years, please visit here.

KOLTE PATIL Share Price Performance

Over the last one year, KOLTE PATIL share price has moved up from Rs 265.2 to Rs 444.4, registering a gain of Rs 179.3 or around 67.6%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 4,225.3 (down 0.7%). Over the last one year it has moved up from 3,530.7 to 4,225.3, a gain of 695 points (up 19.7%).

Overall, the S&P BSE SENSEX is up 10.2% over the year.

(To know more, check out historical annual results for KOLTE PATIL and quarterly results for KOLTE PATIL)

Annual Report FAQs

What is the current share price of KOLTE PATIL?

KOLTE PATIL currently trades at Rs 543.2 per share. You can check out the latest share price performance of KOLTE PATIL here...

What was the revenue of KOLTE PATIL in FY23? How does it compare to earlier years?

The revenues of KOLTE PATIL stood at Rs 15,210 m in FY23, which was up 33.8% compared to Rs 11,365 m reported in FY22.

KOLTE PATIL's revenue has grown from Rs 8,769 m in FY19 to Rs 15,210 m in FY23.

Over the past 5 years, the revenue of KOLTE PATIL has grown at a CAGR of 14.8%.

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

The net profit of KOLTE PATIL stood at Rs 1,134 m in FY23, which was up 21.4% compared to Rs 934 m reported in FY22.

This compares to a net loss of Rs -38 m in FY21 and a net profit of Rs 997 m in FY20.

Over the past 5 years, KOLTE PATIL net profit has grown at a CAGR of 3.3%.

What does the cash flow statement of KOLTE PATIL 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 KOLTE PATIL reveals:

  • Cash flow from operations decreased in FY23 and stood at Rs 1,925 m as compared to Rs 3,549 m in FY22.
  • Cash flow from investments increased in FY23 and stood at Rs -453 m as compared to Rs -1,152 m in FY22.
  • Cash flow from financial activity increased in FY23 and stood at Rs -682 m as compared to Rs -2,058 m in FY22.

Here's the cash flow statement of KOLTE PATIL for the past 5 years.

(Rs m)FY19FY20FY21FY22FY23
From Operations6743,3493,2383,5491,925
From Investments159-692-1,547-1,152-453
From Financial Activity-1,193-2,271-1,369-2,058-682
Net Cashflow-361386321340793

What does the Key Ratio analysis of KOLTE PATIL 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 KOLTE PATIL reveals:

  • Operating profit margins witnessed a fall and stood at 12.7% in FY23 as against 16.7% in FY22.
  • Net profit margins declined from 8.4% in FY22 to 7.6% in FY23.
  • Debt to Equity ratio for FY23 stood at 0.3 as compared to 0.3 in FY22.

Here's the ratio/financial analysis of KOLTE PATIL for the past 5 years.

 FY19FY20FY21FY22FY23
Operating Profit Margin (%)28.520.79.016.712.7
Net Profit Margin (%)11.58.8-0.68.47.6
Debt to Equity Ratio (x)0.60.50.50.30.3

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