ORIANA POWER 2022-23 Annual Report Analysis

Wed, 28 Feb

ORIANA POWER 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.

ORIANA POWER Income Statement Analysis

• Operating income during the year rose 9.9% on a year-on-year (YoY) basis.
• The company's operating profit increased by 56.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 14.5% in FY23 as against 10.2% in FY22.
• Depreciation charges increased by 31.2% and finance costs increased by 109.6% YoY, respectively.
• Other income grew by 12.2% YoY.
• Net profit for the year grew by 57.4% YoY.
• Net profit margins during the year grew from 5.6% in FY22 to 8.0% in FY23.

ORIANA POWER Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	1,240	1,362	9.9%
Other income	Rs m	10	11	12.2%
Total Revenues	Rs m	1,250	1,373	9.9%
Gross profit	Rs m	126	197	56.0%
Depreciation	Rs m	9	12	31.2%
Interest	Rs m	18	39	109.6%
Profit before tax	Rs m	109	158	44.9%
Tax	Rs m	40	49	23.1%
Profit after tax	Rs m	69	109	57.4%
Gross profit margin	%	10.2	14.5
Effective tax rate	%	36.3	30.9
Net profit margin	%	5.6	8.0

Download Now: 7 Unstoppable Growth Engines of India's $10 Trillion Bull Run...

ORIANA POWER Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 369 million as compared to Rs 370 million in FY22, thereby witnessing an decrease of -0.2%.
• Long-term debt stood at Rs 565 million as compared to Rs 211 million during FY22, a growth of 167.5%.
• Current assets fell 0% and stood at Rs 413 million, while fixed assets rose 153% and stood at Rs 862 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 1 billion as against Rs 754 million during FY22, thereby witnessing a growth of 69%.

ORIANA POWER Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	153	320	109.0
Current Liabilities	Rs m	370	369	-0.2
Long-term Debt	Rs m	211	565	167.5
Total Liabilities	Rs m	754	1,275	69.0
Current assets	Rs m	414	413	-0.1
Fixed Assets	Rs m	341	862	152.8
Total Assets	Rs m	754	1,275	69.0

ORIANA POWER Cash Flow Statement Analysis

• ORIANA POWER's cash flow from operating activities (CFO) during FY23 stood at Rs 169 million, an improvement of 97.8% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -532 million, an improvement of 233.9% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 377 million, an improvement of 416% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 13 million from the Rs -1 million net cash flows seen during FY22.

ORIANA POWER 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	86	169	97.8%
Cash Flow from Investing Activities	Rs m	-159	-532	-
Cash Flow from Financing Activities	Rs m	73	377	415.8%
Net Cash Flow	Rs m	-1	13	-

Current Valuations for ORIANA POWER

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 16.3, an improvement from the EPS of Rs 11.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 0.0, stands at 0.0 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.0 times, while the price to sales ratio stands at 0.0 times.
• The company's price to cash flow (P/CF) ratio stood at 0.0 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	201.2	203.0
TTM Earnings per share	Rs	11.3	16.3
Diluted earnings per share	Rs	3.6	5.7
Price to Cash Flow	x	0.0	0.0
TTM P/E ratio	x	0.0	0.0
Price / Book Value ratio	x	0.0	0.0
Market Cap	Rs m	0	0
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for ORIANA POWER

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.1x during FY23, from 1.1x 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 deteriorated and stood at 5.1x during FY23, from 6.9x 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 declined and down at 34.1% during FY23, from 45.3% 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 declined and down at 22.2% during FY23, from 35.0% 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 declined and down at 11.6% during FY23, from 11.6% 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	1.1	1.1
Debtors’ Days	Days	723	539
Interest coverage	x	6.9	5.1
Debt to equity ratio	x	1.4	1.8
Return on assets	%	11.6	11.6
Return on equity	%	45.3	34.1
Return on capital employed	%	35.0	22.2

To see how ORIANA POWER has performed over the last 5 years, please visit here.

ORIANA POWER Share Price Performance

Over the last one year, ORIANA POWER share price has moved {{varPrevCurrYearUpDown}} from Rs {{varLastYearSameDayValue}} to Rs {{varCurrYearCurrDayValue}}, registering a {{varPrevCurrYearComp}} of Rs {{varPrevCurrYearCompValue}} or around {{varPrevCurrYearCompPerValue}}%.

Meanwhile, the{{varBSEIndexName}} is trading at Rs {{varBSEIndexValue}} ({{varBSEIndexPrevCurrComp}} {{varBSEIndexPrevCurrPerValue}}%). Over the last one year it has moved {{varBSEIndexPrevCurrYearComp}} from {{varBSEIndexPrevYearValue}} to {{varBSEIndexCurrentYearValue}}, a {{varBSEIndexPrevCurrGainLoss}} of {{varBSEIndexPrevCurrSubstraction}} points ({{varBSEIndexPrevCurrYearCompOverYear}} {{varBSEIndexPrevCurrPerValueOverYear}}%).

Overall, the {{varBSESensexName}} is {{varBSESensexCurrStatus}} {{varBSESensexCurrValue}}% over the year.

(To know more, check out historical annual results for ORIANA POWER and quarterly results for ORIANA POWER)