SEZAL GLASS 2021-22 Annual Report Analysis

Wed, 22 Jun

SEZAL GLASS 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.

SEZAL GLASS Income Statement Analysis

• Operating income during the year rose 142.8% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 1276.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 612.8% in FY22 as against 126.5% in FY21.
• Depreciation charges decreased by 50.0% and finance costs decreased by 69.4% YoY, respectively.
• Other income declined by 10.1% YoY.
• Net profit for the year declined by 898.1% YoY.
• Net profit margins during the year grew from 183.8% in FY21 to 604.1% in FY22.

SEZAL GLASS Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	100	243	142.8%
Other income	Rs m	2	2	-10.1%
Total Revenues	Rs m	102	245	140.0%
Gross profit	Rs m	-127	1,491	-1,276.3%
Depreciation	Rs m	25	12	-50.0%
Interest	Rs m	34	11	-69.4%
Profit before tax	Rs m	-184	1,470	-898.1%
Tax	Rs m	0	0	0.0%
Profit after tax	Rs m	-184	1,470	-898.1%
Gross profit margin	%	-126.5	612.8
Effective tax rate	%	0.0	0.0
Net profit margin	%	-183.8	604.1

Revealing Soon: A Potential Huge Investing Opportunity for Investors

SEZAL GLASS Balance Sheet Analysis

• The company's current liabilities during FY22 down at Rs 366 million as compared to Rs 2 billion in FY21, thereby witnessing an decrease of -82.1%.
• Current assets fell 43% and stood at Rs 102 million, while fixed assets fell 6% and stood at Rs 332 million in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 434 million as against Rs 532 million during FY21, thereby witnessing a fall of 19%.

SEZAL GLASS Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	-1,513	61	-104.1
Current Liabilities	Rs m	2,040	366	-82.1
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	532	434	-18.5
Current assets	Rs m	180	102	-43.3
Fixed Assets	Rs m	352	332	-5.9
Total Assets	Rs m	532	434	-18.5

SEZAL GLASS Cash Flow Statement Analysis

• SEZAL GLASS's cash flow from operating activities (CFO) during FY22 stood at Rs -60 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs -19 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs 39 million, an improvement of 213% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs -40 million from the Rs -6 million net cash flows seen during FY21.

SEZAL GLASS 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	27	-60	-
Cash Flow from Investing Activities	Rs m	2	-19	-
Cash Flow from Financing Activities	Rs m	-34	39	-
Net Cash Flow	Rs m	-6	-40	-

Current Valuations for SEZAL GLASS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 145.5, an improvement from the EPS of Rs -5.5 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 240.0, stands at 1.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 39.4 times, while the price to sales ratio stands at 10.0 times.
• The company's price to cash flow (P/CF) ratio stood at 1.5 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	3.0	24.1
TTM Earnings per share	Rs	-5.5	145.5
Diluted earnings per share	Rs	-18.2	145.5
Price to Cash Flow	x	-0.2	1.5
TTM P/E ratio	x	-0.2	1.6
Price / Book Value ratio	x	-0.1	37.0
Market Cap	Rs m	153	2,272
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for SEZAL GLASS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 0.3x during FY22, from 0.1x 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 140.4x during FY22, from -4.3x 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 2,391.6% during FY22, from 12.2% 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 2,408.7% during FY22, from 9.9% 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 341.4% during FY22, from -28.1% 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	0.1	0.3
Debtors’ Days	Days	179,859,258	697
Interest coverage	x	-4.3	140.4
Debt to equity ratio	x	0.0	0.0
Return on assets	%	-28.1	341.4
Return on equity	%	12.2	2,391.6
Return on capital employed	%	9.9	2,408.7

To see how SEZAL GLASS has performed over the last 5 years, please visit here.

SEZAL GLASS Share Price Performance

Over the last one year, SEZAL GLASS share price has moved up from Rs 0.0 to Rs 240.0, registering a gain of Rs 240.0 or around 0.0%.

Overall, the S&P BSE SENSEX is down 1.0% over the year.

(To know more, check out historical annual results for SEZAL GLASS and quarterly results for SEZAL GLASS)