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MOLD-TEK TECH. 2022-23 Annual Report Analysis

Tue, 6 Feb

MOLD-TEK TECH. 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.

MOLD-TEK TECH. Income Statement Analysis

• Operating income during the year rose 49.3% on a year-on-year (YoY) basis.
• The company's operating profit increased by 111.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 28.8% in FY23 as against 20.3% in FY22.
• Depreciation charges increased by 7.2% and finance costs increased by 53.5% YoY, respectively.
• Other income declined by 32.4% YoY.
• Net profit for the year grew by 120.1% YoY.
• Net profit margins during the year grew from 13.5% in FY22 to 19.9% in FY23.

MOLD-TEK TECH. Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	984	1,469	49.3%
Other income	Rs m	29	19	-32.4%
Total Revenues	Rs m	1,012	1,488	47.0%
Gross profit	Rs m	200	424	111.7%
Depreciation	Rs m	44	47	7.2%
Interest	Rs m	5	8	53.5%
Profit before tax	Rs m	180	388	115.9%
Tax	Rs m	47	96	104.0%
Profit after tax	Rs m	133	293	120.1%
Gross profit margin	%	20.3	28.8
Effective tax rate	%	26.0	24.6
Net profit margin	%	13.5	19.9

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MOLD-TEK TECH. Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 563 million as compared to Rs 404 million in FY22, thereby witnessing an increase of 39.4%.
• Current assets rose 44% and stood at Rs 1 billion, while fixed assets rose 35% and stood at Rs 508 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 2 billion as against Rs 1 billion during FY22, thereby witnessing a growth of 41%.

MOLD-TEK TECH. Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	726	1,037	42.9
Current Liabilities	Rs m	404	563	39.4
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	1,175	1,659	41.1
Current assets	Rs m	799	1,151	44.1
Fixed Assets	Rs m	376	508	34.9
Total Assets	Rs m	1,175	1,659	41.1

MOLD-TEK TECH. Cash Flow Statement Analysis

• MOLD-TEK TECH.'s cash flow from operating activities (CFO) during FY23 stood at Rs 339 million, an improvement of 119.6% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -114 million, an improvement of 55.5% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -33 million, an improvement of 60% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 192 million from the Rs -1 million net cash flows seen during FY22.

MOLD-TEK TECH. 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	154	339	119.6%
Cash Flow from Investing Activities	Rs m	-73	-114	-
Cash Flow from Financing Activities	Rs m	-82	-33	-
Net Cash Flow	Rs m	-1	192	-

Current Valuations for MOLD-TEK TECH.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 10.4, an improvement from the EPS of Rs 4.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 243.7, stands at 23.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 6.7 times, while the price to sales ratio stands at 4.7 times.
• The company's price to cash flow (P/CF) ratio stood at 14.8 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	34.8	52.0
TTM Earnings per share	Rs	4.7	10.4
Diluted earnings per share	Rs	4.7	10.3
Price to Cash Flow	x	13.0	14.8
TTM P/E ratio	x	17.3	23.6
Price / Book Value ratio	x	2.7	4.8
Market Cap	Rs m	1,976	5,024
Dividends per share (Unadj.)	Rs	2.0	3.4

Ratio Analysis for MOLD-TEK TECH.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.0x during FY23, from 2.0x 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 51.3x during FY23, from 36.7x 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 28.2% during FY23, from 18.3% 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 38.2% during FY23, from 25.5% 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 18.1% during FY23, from 11.7% 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	2.0	2.0
Debtors’ Days	Days	812	816
Interest coverage	x	36.7	51.3
Debt to equity ratio	x	0.0	0.0
Return on assets	%	11.7	18.1
Return on equity	%	18.3	28.2
Return on capital employed	%	25.5	38.2

To see how MOLD-TEK TECH. has performed over the last 5 years, please visit here.

MOLD-TEK TECH. Share Price Performance

Over the last one year, MOLD-TEK TECH. share price has moved up from Rs 80.8 to Rs 243.7, registering a gain of Rs 162.9 or around 201.5%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 34,369.7 (up 1.2%). Over the last one year it has moved up from 27,506.0 to 34,369.7, a gain of 6,864 points (up 25.0%).

Overall, the S&P BSE SENSEX is up 1.8% over the year.

(To know more, check out historical annual results for MOLD-TEK TECH. and quarterly results for MOLD-TEK TECH.)