NUPUR RECYCLERS 2023-24 Annual Report Analysis

Tue, 24 Dec

NUPUR RECYCLERS has announced its results for the year ended March 2024. Let us have a look at the detailed performance review of the company during FY23-24.

NUPUR RECYCLERS Income Statement Analysis

• Operating income during the year rose 28.5% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 44.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 2.9% in FY24 as against 6.8% in FY23.
• Depreciation charges increased by 218.3% and finance costs increased by 13.9% YoY, respectively.
• Other income declined by 7.0% YoY.
• Net profit for the year declined by 42.5% YoY.
• Net profit margins during the year declined from 8.0% in FY23 to 3.6% in FY24.

NUPUR RECYCLERS Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	1,868	2,401	28.5%
Other income	Rs m	66	61	-7.0%
Total Revenues	Rs m	1,934	2,462	27.3%
Gross profit	Rs m	128	70	-44.9%
Depreciation	Rs m	1	2	218.3%
Interest	Rs m	3	4	13.9%
Profit before tax	Rs m	189	126	-33.6%
Tax	Rs m	40	40	0.1%
Profit after tax	Rs m	150	86	-42.5%
Gross profit margin	%	6.8	2.9
Effective tax rate	%	20.9	31.4
Net profit margin	%	8.0	3.6

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NUPUR RECYCLERS Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 138 million as compared to Rs 76 million in FY23, thereby witnessing an increase of 82.3%.
• Long-term debt stood at Rs 73 million as compared to Rs 0 million during FY23, a fall of 0.0%.
• Current assets fell 1% and stood at Rs 727 million, while fixed assets rose 163% and stood at Rs 419 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 1 billion as against Rs 897 million during FY23, thereby witnessing a growth of 28%.

NUPUR RECYCLERS Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	732	856	16.9
Current Liabilities	Rs m	76	138	82.3
Long-term Debt	Rs m	0	73	0.0
Total Liabilities	Rs m	897	1,146	27.8
Current assets	Rs m	737	727	-1.4
Fixed Assets	Rs m	159	419	163.1
Total Assets	Rs m	897	1,146	27.8

NUPUR RECYCLERS Cash Flow Statement Analysis

• NUPUR RECYCLERS 's cash flow from operating activities (CFO) during FY24 stood at Rs -111 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 108 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -10 million, an improvement of 57% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -13 million from the Rs -220 million net cash flows seen during FY23.

NUPUR RECYCLERS Cash Flow Statement 2023-24

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-23	Mar-24
Cash Flow from Operating Activities	Rs m	-172	-111	-
Cash Flow from Investing Activities	Rs m	-25	108	-
Cash Flow from Financing Activities	Rs m	-23	-10	-
Net Cash Flow	Rs m	-220	-13	-

Current Valuations for NUPUR RECYCLERS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 1.3, an decline from the EPS of Rs 3.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 104.6, stands at 54.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 8.4 times, while the price to sales ratio stands at 3.0 times.
• The company's price to cash flow (P/CF) ratio stood at 84.5 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Sales per share (Unadj.)	Rs	40.8	35.0
TTM Earnings per share	Rs	3.3	1.3
Diluted earnings per share	Rs	2.2	1.3
Price to Cash Flow	x	0.0	84.5
TTM P/E ratio	x	0.0	54.7
Price / Book Value ratio	x	15.3	8.7
Market Cap	Rs m	11,223	7,449
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for NUPUR RECYCLERS

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 5.3x during FY24, from 9.7x during FY23. 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 deteriorated and stood at 35.2x during FY24, from 59.6x during FY23. 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 10.1% during FY24, from 20.5% during FY24. 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 13.9% during FY24, from 26.3% during FY23. 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 7.8% during FY24, from 17.1% during FY23. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Current ratio	x	9.7	5.3
Debtors’ Days	Days	631	182
Interest coverage	x	59.6	35.2
Debt to equity ratio	x	0.0	0.1
Return on assets	%	17.1	7.8
Return on equity	%	20.5	10.1
Return on capital employed	%	26.3	13.9

To see how NUPUR RECYCLERS has performed over the last 5 years, please visit here.

NUPUR RECYCLERS Share Price Performance

Over the last one year, NUPUR RECYCLERS share price has moved down from Rs 0.0 to Rs 0.0, registering a loss of Rs 0.0 or around 0.0%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 29,597.2 (down 0.9%). Over the last one year it has moved up from 25,935.9 to 29,597.2, a gain of 3,661 points (up 14.1%).

Overall, the NIFTY 50 is up 0.3% over the year.

(To know more, check out historical annual results for NUPUR RECYCLERS and quarterly results for NUPUR RECYCLERS )