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RADHE DEVELOPERS 2021-22 Annual Report Analysis
Tue, 14 Jun

RADHE DEVELOPERS has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

RADHE DEVELOPERS Income Statement Analysis

  • Operating income during the year rose 4804.8% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 1443.7% YoY during the fiscal. Operating profit margins witnessed a fall and down at 75.2% in FY22 as against 274.4% in FY21.
  • Depreciation charges decreased by 35.6% and finance costs increased by 134.1% YoY, respectively.
  • Other income grew by 0.0% YoY.
  • Net profit for the year declined by 966.8% YoY.
  • Net profit margins during the year grew from 327.5% in FY21 to 57.9% in FY22.

RADHE DEVELOPERS Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 9 436 4,804.8%
Other income Rs m 0 0 0.0%
Total Revenues Rs m 9 436 4,807.0%
Gross profit Rs m -24 328 -1,443.7%
Depreciation Rs m 6 4 -35.6%
Interest Rs m 0 1 134.1%
Profit before tax Rs m -30 323 -1,164.8%
Tax Rs m -1 71 -5,739.7%
Profit after tax Rs m -29 252 -966.8%
Gross profit margin % -274.4 75.2
Effective tax rate % 4.1 22.0
Net profit margin % -327.5 57.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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RADHE DEVELOPERS Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 437 million as compared to Rs 288 million in FY21, thereby witnessing an increase of 51.8%.
  • Long-term debt stood at Rs 6 million as compared to Rs 1 million during FY21, a growth of 680.5%.
  • Current assets fell 1% and stood at Rs 319 million, while fixed assets rose 162% and stood at Rs 666 million in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 985 million as against Rs 577 million during FY21, thereby witnessing a growth of 71%.

RADHE DEVELOPERS Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 292 544 86.5
 
Current Liabilities Rs m 288 437 51.8
Long-term Debt Rs m 1 6 680.5
Total Liabilities Rs m 577 985 70.6
 
Current assets Rs m 324 319 -1.4
Fixed Assets Rs m 254 666 162.3
Total Assets Rs m 577 985 70.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



RADHE DEVELOPERS Cash Flow Statement Analysis

  • RADHE DEVELOPERS's cash flow from operating activities (CFO) during FY22 stood at Rs -84 million, an improvement of 41,830.0% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -18 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs 99 million, an improvement of 1,626% on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs -3 million from the Rs 1 million net cash flows seen during FY21.

RADHE DEVELOPERS Cash Flow Statement 2021-22

Particulars No. of months 12 12 % Change
Year Ending Mar-21 Mar-22
Cash Flow from Operating Activities Rs m 0 -84 -
Cash Flow from Investing Activities Rs m 8 -18 -
Cash Flow from Financing Activities Rs m -6 99 -
Net Cash Flow Rs m 1 -3 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for RADHE DEVELOPERS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 10.0, an improvement from the EPS of Rs -1.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 197.4, stands at 19.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 9.1 times, while the price to sales ratio stands at 11.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 18.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Sales per share (Unadj.) Rs 0.4 17.3
TTM Earnings per share Rs -1.2 10.0
Diluted earnings per share Rs -1.2 10.0
Price to Cash Flow x -9.0 18.1
TTM P/E ratio x -7.3 19.7
Price / Book Value ratio x 0.8 8.5
Market Cap Rs m 247 4,631
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for RADHE DEVELOPERS

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 0.7x during FY22, from 1.1x during FY21. 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 337.9x during FY22, from -73.1x during FY21. 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 46.3% during FY22, from -10.0% during FY22. 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 58.9% during FY22, from -10.2% during FY21. 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 25.7% during FY22, from -5.0% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-21* 12 Mar-22*
Current ratio x 1.1 0.7
Debtors’ Days Days 21 0
Interest coverage x -73.1 337.9
Debt to equity ratio x 0.0 0.0
Return on assets % -5.0 25.7
Return on equity % -10.0 46.3
Return on capital employed % -10.2 58.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how RADHE DEVELOPERS has performed over the last 5 years, please visit here.

RADHE DEVELOPERS Share Price Performance

Over the last one year, RADHE DEVELOPERS share price has moved up from Rs 10.1 to Rs 197.4, registering a gain of Rs 187.3 or around 1846.7%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 3,110.4 (up 0.7%). Over the last one year it has moved up from 2,804.1 to 3,110.4, a gain of 306 points (up 10.9%).

Overall, the S&P BSE SENSEX is up 0.9% over the year.

(To know more, check out historical annual results for RADHE DEVELOPERS and quarterly results for RADHE DEVELOPERS)

Annual Report FAQs

What is the current share price of RADHE DEVELOPERS?

RADHE DEVELOPERS currently trades at Rs 12.1 per share. You can check out the latest share price performance of RADHE DEVELOPERS here...

What was the revenue of RADHE DEVELOPERS in FY22? How does it compare to earlier years?

The revenues of RADHE DEVELOPERS stood at Rs 436 m in FY22, which was up 4,807.0% compared to Rs 9 m reported in FY21.

RADHE DEVELOPERS' revenue has grown from Rs 110 m in FY18 to Rs 436 m in FY22.

Over the past 5 years, the revenue of RADHE DEVELOPERS has grown at a CAGR of 41.1%.

What was the net profit of RADHE DEVELOPERS in FY22? How does it compare to earlier years?

The net profit of RADHE DEVELOPERS stood at Rs 252 m in FY22, which was down -966.8% compared to Rs -29 m reported in FY21.

This compares to a net loss of Rs -19 m in FY20 and a net loss of Rs -1 m in FY19.

Over the past 5 years, RADHE DEVELOPERS net profit has grown at a CAGR of 151.3%.

What does the cash flow statement of RADHE DEVELOPERS reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of RADHE DEVELOPERS reveals:

  • Cash flow from operations decreased in FY22 and stood at Rs -84 m as compared to Rs 0 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -18 m as compared to Rs 8 m in FY21.
  • Cash flow from financial activity increased in FY22 and stood at Rs 99 m as compared to Rs -6 m in FY21.

Here's the cash flow statement of RADHE DEVELOPERS for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations-2053-10-84
From Investments00-98-18
From Financial Activity23-539-699
Net Cashflow3-1-21-3

What does the Key Ratio analysis of RADHE DEVELOPERS reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of RADHE DEVELOPERS reveals:

  • Operating profit margins witnessed a fall and down at 75.2% in FY22 as against 274.4% in FY21.
  • Net profit margins grew from 327.5% in FY21 to 57.9% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.0 as compared to 0.0 in FY21.

Here's the ratio/financial analysis of RADHE DEVELOPERS for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)11.05.8-34.8-274.475.2
Net Profit Margin (%)6.3-0.5-49.4-327.557.9
Debt to Equity Ratio (x)0.00.00.00.00.0

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