NAHAR SPINNING M 2024-25 Annual Report Analysis

Wed, 4 Mar

NAHAR SPINNING M 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.

NAHAR SPINNING M Income Statement Analysis

• Operating income during the year rose 7.7% on a year-on-year (YoY) basis.
• The company's operating profit increased by 96.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 4.9% in FY25 as against 2.7% in FY24.
• Depreciation charges increased by 7.6% and finance costs increased by 12.3% YoY, respectively.
• Other income grew by 120.9% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 1.7% in FY24 to 0.4% in FY25.

NAHAR SPINNING M Income Statement 2024-25

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Net Sales	Rs m	30,500	32,846	7.7%
Other income	Rs m	156	343	120.9%
Total Revenues	Rs m	30,656	33,189	8.3%
Gross profit	Rs m	817	1,608	96.7%
Depreciation	Rs m	885	952	7.6%
Interest	Rs m	702	788	12.3%
Profit before tax	Rs m	-614	211	NA
Tax	Rs m	-103	88	NA
Profit after tax	Rs m	-511	124	NA
Gross profit margin	%	2.7	4.9
Effective tax rate	%	16.8	41.5
Net profit margin	%	-1.7	0.4

Kingmaker Stocks: The Silent Forces Driving India's Next Industrial Revolution

NAHAR SPINNING M Balance Sheet Analysis

• The company's current liabilities during FY25 down at Rs 10 billion as compared to Rs 12 billion in FY24, thereby witnessing an decrease of -10.8%.
• Long-term debt down at Rs 2 billion as compared to Rs 2 billion during FY24, a fall of 15.1%.
• Current assets fell 3% and stood at Rs 17 billion, while fixed assets fell 8% and stood at Rs 10 billion in FY25.
• Overall, the total assets and liabilities for FY25 stood at Rs 27 billion as against Rs 29 billion during FY24, thereby witnessing a fall of 5%.

NAHAR SPINNING M Balance Sheet as on March 2025

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Networth	Rs m	14,812	14,894	0.6
Current Liabilities	Rs m	11,643	10,385	-10.8
Long-term Debt	Rs m	2,181	1,851	-15.1
Total Liabilities	Rs m	28,891	27,498	-4.8
Current assets	Rs m	17,492	17,012	-2.7
Fixed Assets	Rs m	11,399	10,486	-8.0
Total Assets	Rs m	28,891	27,498	-4.8

NAHAR SPINNING M Cash Flow Statement Analysis

• NAHAR SPINNING M's cash flow from operating activities (CFO) during FY25 stood at Rs 931 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY25 stood at Rs 143 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY25 stood at Rs -757 million on a YoY basis.
• Overall, net cash flows for the company during FY25 stood at Rs 316 million from the Rs -513 million net cash flows seen during FY24.

NAHAR SPINNING M 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	-3,947	931	-
Cash Flow from Investing Activities	Rs m	-493	143	-
Cash Flow from Financing Activities	Rs m	3,927	-757	-
Net Cash Flow	Rs m	-513	316	-

Current Valuations for NAHAR SPINNING M

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.4, an improvement from the EPS of Rs -14.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 207.6, stands at 60.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.5 times, while the price to sales ratio stands at 0.2 times.
• The company's price to cash flow (P/CF) ratio stood at 9.5 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	845.6	910.6
TTM Earnings per share	Rs	-14.2	3.4
Diluted earnings per share	Rs	-14.2	3.4
Price to Cash Flow	x	25.7	9.5
TTM P/E ratio	x	-18.8	60.6
Price / Book Value ratio	x	0.7	0.7
Market Cap	Rs m	10,729	10,248
Dividends per share (Unadj.)	Rs	1.0	1.0

Ratio Analysis for NAHAR SPINNING M

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.6x during FY25, from 1.5x 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 1.3x during FY25, from 0.1x 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 improved and stood at 0.8% during FY25, from -3.4% 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 improved and stood at 6.0% during FY25, from 0.5% 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 improved and stood at 3.3% during FY25, from 0.7% 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	1.5	1.6
Debtors’ Days	Days	513	687
Interest coverage	x	0.1	1.3
Debt to equity ratio	x	0.1	0.1
Return on assets	%	0.7	3.3
Return on equity	%	-3.4	0.8
Return on capital employed	%	0.5	6.0

To see how NAHAR SPINNING M has performed over the last 5 years, please visit here.

NAHAR SPINNING M Share Price Performance

Over the last one year, NAHAR SPINNING M share price has moved down from Rs 266.8 to Rs 207.6, registering a loss of Rs 59.2 or around 22.2%.

Overall, the S&P BSE SENSEX is up 6.1% over the year.

(To know more, check out historical annual results for NAHAR SPINNING M and quarterly results for NAHAR SPINNING M)