UFO MOVIEZ 2022-23 Annual Report Analysis

Mon, 21 Aug

UFO MOVIEZ 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.

UFO MOVIEZ Income Statement Analysis

• Operating income during the year rose 74.5% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and down at 1.9% in FY23 as against 32.8% in FY22.
• Depreciation charges decreased by 20.8% and finance costs decreased by 7.2% YoY, respectively.
• Other income grew by 135.3% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year grew from 56.4% in FY22 to 10.8% in FY23.

UFO MOVIEZ Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	1,601	2,794	74.5%
Other income	Rs m	99	232	135.3%
Total Revenues	Rs m	1,700	3,026	78.0%
Gross profit	Rs m	-526	-53	NA
Depreciation	Rs m	558	442	-20.8%
Interest	Rs m	116	108	-7.2%
Profit before tax	Rs m	-1,101	-371	NA
Tax	Rs m	-199	-70	NA
Profit after tax	Rs m	-903	-301	NA
Gross profit margin	%	-32.8	-1.9
Effective tax rate	%	18.0	18.9
Net profit margin	%	-56.4	-10.8

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UFO MOVIEZ Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 2 billion as compared to Rs 2 billion in FY22, thereby witnessing an increase of 0.5%.
• Long-term debt down at Rs 222 million as compared to Rs 505 million during FY22, a fall of 56.1%.
• Current assets fell 40% and stood at Rs 1 billion, while fixed assets rose 0% and stood at Rs 4 billion in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 6 billion as against Rs 7 billion during FY22, thereby witnessing a fall of 12%.

UFO MOVIEZ Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	2,735	2,943	7.6
Current Liabilities	Rs m	1,510	1,517	0.5
Long-term Debt	Rs m	505	222	-56.1
Total Liabilities	Rs m	6,565	5,749	-12.4
Current assets	Rs m	2,076	1,253	-39.6
Fixed Assets	Rs m	4,489	4,496	0.2
Total Assets	Rs m	6,565	5,749	-12.4

UFO MOVIEZ Cash Flow Statement Analysis

• UFO MOVIEZ's cash flow from operating activities (CFO) during FY23 stood at Rs 77 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 129 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -203 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 3 million from the Rs 27 million net cash flows seen during FY22.

UFO MOVIEZ 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	-257	77	-
Cash Flow from Investing Activities	Rs m	-438	129	-
Cash Flow from Financing Activities	Rs m	723	-203	-
Net Cash Flow	Rs m	27	3	-90.3%

Current Valuations for UFO MOVIEZ

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -7.9, an improvement from the EPS of Rs -23.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 108.8, stands at -28.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.4 times, while the price to sales ratio stands at 1.5 times.
• The company's price to cash flow (P/CF) ratio stood at 26.5 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	42.1	73.2
TTM Earnings per share	Rs	-23.7	-7.9
Diluted earnings per share	Rs	-23.6	-7.9
Price to Cash Flow	x	-11.3	26.5
TTM P/E ratio	x	-4.3	-28.4
Price / Book Value ratio	x	1.4	1.3
Market Cap	Rs m	3,694	3,741
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for UFO MOVIEZ

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 0.8x during FY23, from 1.4x 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 -2.4x during FY23, from -8.5x 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 -10.2% during FY23, from -33.0% 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 -8.3% during FY23, from -30.4% 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 -3.4% during FY23, from -12.0% 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	1.4	0.8
Debtors’ Days	Days	782	640
Interest coverage	x	-8.5	-2.4
Debt to equity ratio	x	0.2	0.1
Return on assets	%	-12.0	-3.4
Return on equity	%	-33.0	-10.2
Return on capital employed	%	-30.4	-8.3

To see how UFO MOVIEZ has performed over the last 5 years, please visit here.

UFO MOVIEZ Share Price Performance

Over the last one year, UFO MOVIEZ share price has moved up from Rs 108.6 to Rs 108.8, registering a gain of Rs 0.2 or around 0.2%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 13,960.7 (up 1.1%). Over the last one year it has moved up from 13,903.0 to 13,960.7, a gain of 58 points (up 0.4%).

Overall, the S&P BSE SENSEX is up 8.3% over the year.

(To know more, check out historical annual results for UFO MOVIEZ and quarterly results for UFO MOVIEZ)