EBIXCASH WORLD MONEY 2021-22 Annual Report Analysis

Mon, 7 Nov

EBIXCASH WORLD MONEY 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.

EBIXCASH WORLD MONEY Income Statement Analysis

• Operating income during the year rose 33.3% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 85.4% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 0.6% in FY22 as against 5.1% in FY21.
• Depreciation charges decreased by 1.1% and finance costs decreased by 33.3% YoY, respectively.
• Other income grew by 43.8% YoY.
• Net profit for the year declined by 80.6% YoY.
• Net profit margins during the year declined from 3.6% in FY21 to 0.5% in FY22.

EBIXCASH WORLD MONEY Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	11,295	15,053	33.3%
Other income	Rs m	74	106	43.8%
Total Revenues	Rs m	11,368	15,159	33.3%
Gross profit	Rs m	574	84	-85.4%
Depreciation	Rs m	13	13	-1.1%
Interest	Rs m	55	37	-33.3%
Profit before tax	Rs m	580	140	-75.9%
Tax	Rs m	172	60	-64.8%
Profit after tax	Rs m	408	79	-80.6%
Gross profit margin	%	5.1	0.6
Effective tax rate	%	29.6	43.3
Net profit margin	%	3.6	0.5

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EBIXCASH WORLD MONEY Balance Sheet Analysis

• The company's current liabilities during FY22 down at Rs 775 million as compared to Rs 896 million in FY21, thereby witnessing an decrease of -13.5%.
• Current assets rose 9% and stood at Rs 3 billion, while fixed assets fell 11% and stood at Rs 746 million in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 4 billion as against Rs 3 billion during FY21, thereby witnessing a growth of 4%.

EBIXCASH WORLD MONEY Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	1,842	1,920	4.3
Current Liabilities	Rs m	896	775	-13.5
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	3,412	3,542	3.8
Current assets	Rs m	2,573	2,796	8.7
Fixed Assets	Rs m	840	746	-11.2
Total Assets	Rs m	3,412	3,542	3.8

EBIXCASH WORLD MONEY Cash Flow Statement Analysis

• EBIXCASH WORLD MONEY's cash flow from operating activities (CFO) during FY22 stood at Rs 287 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs -269 million, an improvement of 1,663.1% on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs -53 million on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs -35 million from the Rs 309 million net cash flows seen during FY21.

EBIXCASH WORLD MONEY 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	316	287	-9.1%
Cash Flow from Investing Activities	Rs m	-15	-269	-
Cash Flow from Financing Activities	Rs m	9	-53	-
Net Cash Flow	Rs m	309	-35	-

Current Valuations for EBIXCASH WORLD MONEY

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 7.1, an decline from the EPS of Rs 36.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 467.0, stands at 65.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.7 times, while the price to sales ratio stands at 0.3 times.
• The company's price to cash flow (P/CF) ratio stood at 74.5 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	1,014.8	1,352.5
TTM Earnings per share	Rs	36.6	7.1
Diluted earnings per share	Rs	36.6	7.1
Price to Cash Flow	x	12.6	74.5
TTM P/E ratio	x	13.4	65.4
Price / Book Value ratio	x	2.7	3.6
Market Cap	Rs m	4,980	6,894
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for EBIXCASH WORLD MONEY

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 3.6x during FY22, from 2.9x 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 deteriorated and stood at 4.8x during FY22, from 11.5x 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 declined and down at 4.1% during FY22, from 22.1% 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 declined and down at 9.2% during FY22, from 34.5% 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 declined and down at 3.3% during FY22, from 13.6% 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	2.9	3.6
Debtors’ Days	Days	172	118
Interest coverage	x	11.5	4.8
Debt to equity ratio	x	0.0	0.0
Return on assets	%	13.6	3.3
Return on equity	%	22.1	4.1
Return on capital employed	%	34.5	9.2

To see how EBIXCASH WORLD MONEY has performed over the last 5 years, please visit here.

EBIXCASH WORLD MONEY Share Price Performance

Over the last one year, EBIXCASH WORLD MONEY share price has moved down from Rs 614.7 to Rs 467.0, registering a loss of Rs 147.7 or around 24.0%.

Overall, the S&P BSE SENSEX is up 2.4% over the year.

(To know more, check out historical annual results for EBIXCASH WORLD MONEY and quarterly results for EBIXCASH WORLD MONEY)