63 MOONS TECH 2021-22 Annual Report Analysis

Tue, 8 Nov

63 MOONS TECH 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.

63 MOONS TECH Income Statement Analysis

• Operating income during the year rose 0.0% 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 81.9% in FY22 as against 83.5% in FY21.
• Depreciation charges decreased by 34.3% and finance costs decreased by 10.1% YoY, respectively.
• Other income declined by 23.0% YoY.
• Net profit for the year grew by NA YoY.
• Net profit margins during the year declined from 39.7% in FY21 to 46.4% in FY22.

63 MOONS TECH Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	1,602	1,603	0.0%
Other income	Rs m	916	705	-23.0%
Total Revenues	Rs m	2,518	2,308	-8.3%
Gross profit	Rs m	-1,338	-1,313	NA
Depreciation	Rs m	190	125	-34.3%
Interest	Rs m	5	5	-10.1%
Profit before tax	Rs m	-618	-737	NA
Tax	Rs m	19	6	-66.9%
Profit after tax	Rs m	-637	-744	NA
Gross profit margin	%	-83.5	-81.9
Effective tax rate	%	-3.1	-0.9
Net profit margin	%	-39.7	-46.4

Download Now: Exclusive Guide About India's Potentially Decade-Long $10 Trillion Bull Run...

63 MOONS TECH Balance Sheet Analysis

• The company's current liabilities during FY22 stood at Rs 3 billion as compared to Rs 3 billion in FY21, thereby witnessing an increase of 1.3%.
• Current assets rose 9% and stood at Rs 19 billion, while fixed assets fell 10% and stood at Rs 13 billion in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 33 billion as against Rs 33 billion during FY21, thereby witnessing a growth of 1%.

63 MOONS TECH Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	30,909	30,964	0.2
Current Liabilities	Rs m	2,746	2,780	1.3
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	32,595	32,840	0.8
Current assets	Rs m	17,819	19,498	9.4
Fixed Assets	Rs m	14,775	13,342	-9.7
Total Assets	Rs m	32,595	32,840	0.8

63 MOONS TECH Cash Flow Statement Analysis

• 63 MOONS TECH's cash flow from operating activities (CFO) during FY22 stood at Rs -1 billion, an improvement of 184.4% on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs 750 million, an improvement of 24.9% on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs 808 million, an improvement of 19,068% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs 540 million from the Rs 238 million net cash flows seen during FY21.

63 MOONS TECH 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	-358	-1,018	-
Cash Flow from Investing Activities	Rs m	600	750	24.9%
Cash Flow from Financing Activities	Rs m	-4	808	-
Net Cash Flow	Rs m	238	540	126.7%

Current Valuations for 63 MOONS TECH

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -16.1, an decline from the EPS of Rs -13.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 158.8, stands at -9.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.2 times, while the price to sales ratio stands at 4.6 times.
• The company's price to cash flow (P/CF) ratio stood at -16.4 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	34.8	34.8
TTM Earnings per share	Rs	-13.8	-16.1
Diluted earnings per share	Rs	-13.8	-16.1
Price to Cash Flow	x	-7.2	-16.4
TTM P/E ratio	x	-5.0	-9.8
Price / Book Value ratio	x	0.1	0.3
Market Cap	Rs m	3,285	10,178
Dividends per share (Unadj.)	Rs	2.0	0.0

Ratio Analysis for 63 MOONS TECH

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 7.0x during FY22, from 6.5x 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 -154.9x during FY22, from -116.5x 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 -2.4% during FY22, from -2.1% 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 -2.4% during FY22, from -2.0% 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 -2.3% during FY22, from -1.9% 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	6.5	7.0
Debtors’ Days	Days	916	920
Interest coverage	x	-116.5	-154.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	-1.9	-2.3
Return on equity	%	-2.1	-2.4
Return on capital employed	%	-2.0	-2.4

To see how 63 MOONS TECH has performed over the last 5 years, please visit here.

63 MOONS TECH Share Price Performance

Over the last one year, 63 MOONS TECH share price has moved up from Rs 98.0 to Rs 158.8, registering a gain of Rs 60.8 or around 62.1%.

Meanwhile, the S&P BSE IT Index is trading at Rs 28,879.4 (up 0.1%). Over the last one year it has moved down from 34,794.5 to 28,879.4, a loss of 5,915 points (down 17.0%).

Overall, the S&P BSE SENSEX is up 1.9% over the year.

(To know more, check out historical annual results for 63 MOONS TECH and quarterly results for 63 MOONS TECH)

Read: Latest Annual Report Analysis of 63 MOONS TECH