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TRACXN TECHNOLOGIES 2022-23 Annual Report Analysis

Fri, 31 Mar

TRACXN TECHNOLOGIES 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.

TRACXN TECHNOLOGIES Income Statement Analysis

• Operating income during the year rose 23.1% 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 8.9% in FY23 as against 9.6% in FY22.
• Depreciation charges increased by 30.1% and finance costs decreased by 3.8% YoY, respectively.
• Other income grew by 104.0% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 7.6% in FY22 to 42.4% in FY23.

TRACXN TECHNOLOGIES Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	635	781	23.1%
Other income	Rs m	17	35	104.0%
Total Revenues	Rs m	652	816	25.2%
Gross profit	Rs m	-61	69	NA
Depreciation	Rs m	1	2	30.1%
Interest	Rs m	3	3	-3.8%
Profit before tax	Rs m	-48	99	NA
Tax	Rs m	0	-231	0.0
Profit after tax	Rs m	-48	331	NA
Gross profit margin	%	-9.6	8.9
Effective tax rate	%	0.0	-232.7
Net profit margin	%	-7.6	42.4

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TRACXN TECHNOLOGIES Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 346 million as compared to Rs 298 million in FY22, thereby witnessing an increase of 15.8%.
• Current assets rose 44% and stood at Rs 709 million, while fixed assets fell 28% and stood at Rs 35 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 743 million as against Rs 540 million during FY22, thereby witnessing a growth of 38%.

TRACXN TECHNOLOGIES Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	-44	292	NA
Current Liabilities	Rs m	298	346	15.8
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	540	743	37.6
Current assets	Rs m	492	709	44.0
Fixed Assets	Rs m	48	35	-27.9
Total Assets	Rs m	540	743	37.6

TRACXN TECHNOLOGIES Cash Flow Statement Analysis

• TRACXN TECHNOLOGIES's cash flow from operating activities (CFO) during FY23 stood at Rs 152 million, an improvement of 2,612.0% on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -158 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 0 million, an improvement of 0% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -6 million from the Rs 14 million net cash flows seen during FY22.

TRACXN TECHNOLOGIES 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	6	152	2,612.0%
Cash Flow from Investing Activities	Rs m	8	-158	-
Cash Flow from Financing Activities	Rs m	0	0	0.0%
Net Cash Flow	Rs m	14	-6	-

Current Valuations for TRACXN TECHNOLOGIES

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 3.3, an improvement from the EPS of Rs -0.5 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 65.1, stands at 20.3 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 23.0 times, while the price to sales ratio stands at 8.4 times.
• The company's price to cash flow (P/CF) ratio stood at 24.6 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	6.3	7.8
TTM Earnings per share	Rs	-0.5	3.3
Diluted earnings per share	Rs	-0.5	3.2
Price to Cash Flow	x	0.0	24.6
TTM P/E ratio	x	0.0	20.3
Price / Book Value ratio	x	0.0	28.0
Market Cap	Rs m	0	8,193
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for TRACXN TECHNOLOGIES

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.1x during FY23, from 1.6x 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 33.9x during FY23, from -14.4x 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 improved and stood at 113.3% during FY23, from 109.6% 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 35.1% during FY23, from 102.5% 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 44.9% during FY23, from -8.4% 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	1.6	2.1
Debtors’ Days	Days	413	457
Interest coverage	x	-14.4	33.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	-8.4	44.9
Return on equity	%	109.6	113.3
Return on capital employed	%	102.5	35.1

To see how TRACXN TECHNOLOGIES has performed over the last 5 years, please visit here.

TRACXN TECHNOLOGIES Share Price Performance

Over the last one year, TRACXN TECHNOLOGIES share price has moved up from Rs 0.0 to Rs 65.1, registering a gain of Rs 65.1 or around 0.0%.

Meanwhile, the S&P BSE IT Index is trading at Rs 28,479.0 (up 2.5%). Over the last one year it has moved down from 36,402.7 to 28,479.0, a loss of 7,924 points (down 21.8%).

Overall, the S&P BSE SENSEX is up 1.8% over the year.

(To know more, check out historical annual results for TRACXN TECHNOLOGIES and quarterly results for TRACXN TECHNOLOGIES)