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AYM SYNTEX 2021-22 Annual Report Analysis
Fri, 7 Oct

AYM SYNTEX 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.

AYM SYNTEX Income Statement Analysis

  • Operating income during the year rose 57.4% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 77.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 10.8% in FY22 as against 9.6% in FY21.
  • Depreciation charges increased by 18.4% and finance costs increased by 5.4% YoY, respectively.
  • Other income grew by 55.3% YoY.
  • Net profit for the year grew by 260.5% YoY.
  • Net profit margins during the year grew from 1.5% in FY21 to 3.4% in FY22.

AYM SYNTEX Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 9,474 14,915 57.4%
Other income Rs m 28 44 55.3%
Total Revenues Rs m 9,502 14,958 57.4%
Gross profit Rs m 914 1,617 77.0%
Depreciation Rs m 427 506 18.4%
Interest Rs m 341 359 5.4%
Profit before tax Rs m 174 796 357.7%
Tax Rs m 33 288 774.0%
Profit after tax Rs m 141 508 260.5%
Gross profit margin % 9.6 10.8
Effective tax rate % 18.9 36.1
Net profit margin % 1.5 3.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

AYM SYNTEX Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 4 billion as compared to Rs 3 billion in FY21, thereby witnessing an increase of 13.1%.
  • Long-term debt down at Rs 1 billion as compared to Rs 2 billion during FY21, a fall of 5.6%.
  • Current assets rose 20% and stood at Rs 4 billion, while fixed assets rose 10% and stood at Rs 5 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 9 billion as against Rs 8 billion during FY21, thereby witnessing a growth of 14%.

AYM SYNTEX Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 3,566 4,081 14.4
 
Current Liabilities Rs m 3,151 3,563 13.1
Long-term Debt Rs m 1,554 1,467 -5.6
Total Liabilities Rs m 8,230 9,380 14.0
 
Current assets Rs m 3,589 4,293 19.6
Fixed Assets Rs m 4,640 5,087 9.6
Total Assets Rs m 8,230 9,380 14.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



AYM SYNTEX Cash Flow Statement Analysis

  • AYM SYNTEX 's cash flow from operating activities (CFO) during FY22 stood at Rs 501 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -570 million, an improvement of 160.7% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs 37 million, an improvement of 105% on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs -32 million from the Rs 53 million net cash flows seen during FY21.

AYM SYNTEX 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 1,001 501 -49.9%
Cash Flow from Investing Activities Rs m -219 -570 -
Cash Flow from Financing Activities Rs m -729 37 -
Net Cash Flow Rs m 53 -32 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for AYM SYNTEX

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 10.1, an improvement from the EPS of Rs 2.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 85.8, stands at 9.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 1.1 times, while the price to sales ratio stands at 0.3 times.
  • The company's price to cash flow (P/CF) ratio stood at 4.9 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 189.3 297.4
TTM Earnings per share Rs 2.8 10.1
Diluted earnings per share Rs 2.8 10.1
Price to Cash Flow x 4.1 4.9
TTM P/E ratio x 16.6 9.2
Price / Book Value ratio x 0.5 1.2
Market Cap Rs m 1,876 5,003
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for AYM SYNTEX

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.2x during FY22, from 1.1x 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 3.2x during FY22, from 1.5x 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 improved and stood at 12.5% during FY22, from 4.0% 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 20.8% during FY22, from 10.1% 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 9.2% during FY22, from 5.9% 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 1.1 1.2
Debtors’ Days Days 385 274
Interest coverage x 1.5 3.2
Debt to equity ratio x 0.4 0.4
Return on assets % 5.9 9.2
Return on equity % 4.0 12.5
Return on capital employed % 10.1 20.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how AYM SYNTEX has performed over the last 5 years, please visit here.

AYM SYNTEX Share Price Performance

Over the last one year, AYM SYNTEX share price has moved down from Rs 113.4 to Rs 85.8, registering a loss of Rs 27.6 or around 24.3%.

Overall, the S&P BSE SENSEX is down 2.1% over the year.

(To know more, check out historical annual results for AYM SYNTEX and quarterly results for AYM SYNTEX )

Annual Report FAQs

What is the current share price of AYM SYNTEX ?

AYM SYNTEX currently trades at Rs 86.0 per share. You can check out the latest share price performance of AYM SYNTEX here...

What was the revenue of AYM SYNTEX in FY22? How does it compare to earlier years?

The revenues of AYM SYNTEX stood at Rs 14,958 m in FY22, which was up 57.4% compared to Rs 9,502 m reported in FY21.

AYM SYNTEX 's revenue has grown from Rs 8,453 m in FY18 to Rs 14,958 m in FY22.

Over the past 5 years, the revenue of AYM SYNTEX has grown at a CAGR of 15.3%.

What was the net profit of AYM SYNTEX in FY22? How does it compare to earlier years?

The net profit of AYM SYNTEX stood at Rs 508 m in FY22, which was up 260.5% compared to Rs 141 m reported in FY21.

This compares to a net profit of Rs 174 m in FY20 and a net profit of Rs 59 m in FY19.

Over the past 5 years, AYM SYNTEX net profit has grown at a CAGR of 58.7%.

What does the cash flow statement of AYM SYNTEX reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of AYM SYNTEX reveals:

  • Cash flow from operations decreased in FY22 and stood at Rs 501 m as compared to Rs 1,001 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -570 m as compared to Rs -219 m in FY21.
  • Cash flow from financial activity increased in FY22 and stood at Rs 37 m as compared to Rs -729 m in FY21.

Here's the cash flow statement of AYM SYNTEX for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations2508767921,001501
From Investments-738-1,117-85-219-570
From Financial Activity473197-723-72937
Net Cashflow-14-44-1653-32

What does the Key Ratio analysis of AYM SYNTEX reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of AYM SYNTEX reveals:

  • Operating profit margins witnessed a fall and down at 10.8% in FY22 as against 9.6% in FY21.
  • Net profit margins grew from 1.5% in FY21 to 3.4% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.4 as compared to 0.4 in FY21.

Here's the ratio/financial analysis of AYM SYNTEX for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)7.67.28.79.610.8
Net Profit Margin (%)1.00.61.71.53.4
Debt to Equity Ratio (x)0.60.70.50.40.4

Read: Latest Annual Report Analysis of AYM SYNTEX

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