CE INFO SYSTEMS 2024-25 Annual Report Analysis

Fri, 4 Jul

CE INFO SYSTEMS has announced its results for the year ended March 2025. Let us have a look at the detailed performance review of the company during FY24-25.

CE INFO SYSTEMS Income Statement Analysis

• Operating income during the year rose 22.1% on a year-on-year (YoY) basis.
• The company's operating profit increased by 14.4% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 37.8% in FY25 as against 40.3% in FY24.
• Depreciation charges increased by 32.2% and finance costs increased by 8.2% YoY, respectively.
• Other income grew by 33.8% YoY.
• Net profit for the year grew by 9.8% YoY.
• Net profit margins during the year declined from 35.4% in FY24 to 31.9% in FY25.

CE INFO SYSTEMS Income Statement 2024-25

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Net Sales	Rs m	3,794	4,633	22.1%
Other income	Rs m	399	534	33.8%
Total Revenues	Rs m	4,194	5,167	23.2%
Gross profit	Rs m	1,529	1,750	14.4%
Depreciation	Rs m	148	196	32.2%
Interest	Rs m	29	32	8.2%
Profit before tax	Rs m	1,751	2,057	17.5%
Tax	Rs m	407	581	42.6%
Profit after tax	Rs m	1,344	1,476	9.8%
Gross profit margin	%	40.3	37.8
Effective tax rate	%	23.3	28.2
Net profit margin	%	35.4	31.9

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CE INFO SYSTEMS Balance Sheet Analysis

• The company's current liabilities during FY25 stood at Rs 1 billion as compared to Rs 1 billion in FY24, thereby witnessing an increase of 13.5%.
• Current assets rose 29% and stood at Rs 6 billion, while fixed assets rose 10% and stood at Rs 4 billion in FY25.
• Overall, the total assets and liabilities for FY25 stood at Rs 10 billion as against Rs 8 billion during FY24, thereby witnessing a growth of 20%.

CE INFO SYSTEMS Balance Sheet as on March 2025

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Networth	Rs m	6,432	7,765	20.7
Current Liabilities	Rs m	1,193	1,354	13.5
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	8,246	9,885	19.9
Current assets	Rs m	4,343	5,587	28.6
Fixed Assets	Rs m	3,903	4,299	10.2
Total Assets	Rs m	8,246	9,885	19.9

CE INFO SYSTEMS Cash Flow Statement Analysis

• CE INFO SYSTEMS's cash flow from operating activities (CFO) during FY25 stood at Rs 1 billion, an improvement of 49.8% on a YoY basis.
• Cash flow from investing activities (CFI) during FY25 stood at Rs -1 billion, an improvement of 74.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY25 stood at Rs -172 million, an improvement of 11% on a YoY basis.
• Overall, net cash flows for the company during FY25 stood at Rs -61 million from the Rs -26 million net cash flows seen during FY24.

CE INFO SYSTEMS Cash Flow Statement 2024-25

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-24	Mar-25
Cash Flow from Operating Activities	Rs m	755	1,132	49.8%
Cash Flow from Investing Activities	Rs m	-587	-1,022	-
Cash Flow from Financing Activities	Rs m	-195	-172	-
Net Cash Flow	Rs m	-26	-61	-

Current Valuations for CE INFO SYSTEMS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 27.1, an improvement from the EPS of Rs 24.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,745.7, stands at 62.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 12.2 times, while the price to sales ratio stands at 20.5 times.
• The company's price to cash flow (P/CF) ratio stood at 69.3 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*
Sales per share (Unadj.)	Rs	70.2	85.1
TTM Earnings per share	Rs	24.9	27.1
Diluted earnings per share	Rs	24.7	27.1
Price to Cash Flow	x	67.9	69.3
TTM P/E ratio	x	74.5	62.6
Price / Book Value ratio	x	14.0	14.9
Market Cap	Rs m	89,853	115,908
Dividends per share (Unadj.)	Rs	3.5	3.5

Ratio Analysis for CE INFO SYSTEMS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 4.1x during FY25, from 3.6x during FY24. 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 65.9x during FY25, from 60.8x during FY24. 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 declined and down at 19.0% during FY25, from 20.9% during FY25. 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 26.9% during FY25, from 27.7% during FY24. 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 15.3% during FY25, from 16.7% during FY24. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*
Current ratio	x	3.6	4.1
Debtors’ Days	Days	1,007	1,048
Interest coverage	x	60.8	65.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	16.7	15.3
Return on equity	%	20.9	19.0
Return on capital employed	%	27.7	26.9

To see how CE INFO SYSTEMS has performed over the last 5 years, please visit here.

CE INFO SYSTEMS Share Price Performance

Over the last one year, CE INFO SYSTEMS share price has moved down from Rs 2,444.3 to Rs 1,745.7, registering a loss of Rs 698.7 or around 28.6%.

Meanwhile, the S&P BSE IT Index is trading at Rs 38,057.7 (down 0.0%). Over the last one year it has moved down from 38,535.1 to 38,057.7, a loss of 477 points (down 1.2%).

Overall, the S&P BSE SENSEX is up 4.8% over the year.

(To know more, check out historical annual results for CE INFO SYSTEMS and quarterly results for CE INFO SYSTEMS)