THAMBI MOD. 2022-23 Annual Report Analysis

Tue, 20 Jun

THAMBI MOD. 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.

THAMBI MOD. Income Statement Analysis

• Operating income during the year rose 31.6% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a fall and down at 7.8% in FY23 as against 120.4% in FY22.
• Depreciation charges decreased by 10.6% and finance costs decreased by 2.6% YoY, respectively.
• Other income grew by 116.7% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 230.8% in FY22 to 77.1% in FY23.

THAMBI MOD. Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	22	29	31.6%
Other income	Rs m	0	0	116.7%
Total Revenues	Rs m	22	29	32.3%
Gross profit	Rs m	-27	2	NA
Depreciation	Rs m	6	5	-10.6%
Interest	Rs m	18	17	-2.6%
Profit before tax	Rs m	-50	-20	NA
Tax	Rs m	1	2	217.6%
Profit after tax	Rs m	-51	-22	NA
Gross profit margin	%	-120.4	7.8
Effective tax rate	%	-1.5	-11.7
Net profit margin	%	-230.8	-77.1

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THAMBI MOD. Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 30 million as compared to Rs 42 million in FY22, thereby witnessing an decrease of -28.6%.
• Long-term debt down at Rs 132 million as compared to Rs 180 million during FY22, a fall of 26.7%.
• Current assets rose 6% and stood at Rs 18 million, while fixed assets fell 3% and stood at Rs 126 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 144 million as against Rs 146 million during FY22, thereby witnessing a fall of 2%.

THAMBI MOD. Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	-94	-59	NA
Current Liabilities	Rs m	42	30	-28.6
Long-term Debt	Rs m	180	132	-26.7
Total Liabilities	Rs m	146	144	-1.7
Current assets	Rs m	17	18	6.5
Fixed Assets	Rs m	130	126	-2.7
Total Assets	Rs m	146	144	-1.7

THAMBI MOD. Cash Flow Statement Analysis

• THAMBI MOD.'s cash flow from operating activities (CFO) during FY23 stood at Rs 19 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -3 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -8 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 8 million from the Rs 0 million net cash flows seen during FY22.

THAMBI MOD. 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	27	19	-28.6%
Cash Flow from Investing Activities	Rs m	-19	-3	-
Cash Flow from Financing Activities	Rs m	-8	-8	-
Net Cash Flow	Rs m	0	8	-

Current Valuations for THAMBI MOD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -1.9, an improvement from the EPS of Rs -8.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 15.4, stands at -9.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at -3.0 times, while the price to sales ratio stands at 6.1 times.
• The company's price to cash flow (P/CF) ratio stood at -6.8 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	3.8	2.5
TTM Earnings per share	Rs	-8.9	-1.9
Diluted earnings per share	Rs	-4.4	-1.9
Price to Cash Flow	x	-1.8	-6.8
TTM P/E ratio	x	-2.3	-9.4
Price / Book Value ratio	x	-0.6	-2.0
Market Cap	Rs m	61	116
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for THAMBI MOD.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 0.6x during FY23, from 0.4x 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 improved and stood at -0.2x during FY23, from -1.8x 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 37.9% during FY23, from 54.0% 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 improved and stood at -3.7% during FY23, from -37.9% 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 improved and stood at -3.5% during FY23, from -22.7% 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	0.4	0.6
Debtors’ Days	Days	153,638,801	31,220,675
Interest coverage	x	-1.8	-0.2
Debt to equity ratio	x	-1.9	-2.2
Return on assets	%	-22.7	-3.5
Return on equity	%	54.0	37.9
Return on capital employed	%	-37.9	-3.7

To see how THAMBI MOD. has performed over the last 5 years, please visit here.

THAMBI MOD. Share Price Performance

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(To know more, check out historical annual results for THAMBI MOD. and quarterly results for THAMBI MOD.)