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XPRO INDIA 2021-22 Annual Report Analysis
Tue, 31 May

XPRO INDIA 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.

XPRO INDIA Income Statement Analysis

  • Operating income during the year rose 26.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 58.4% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.5% in FY22 as against 10.8% in FY21.
  • Depreciation charges decreased by 2.7% and finance costs decreased by 21.3% YoY, respectively.
  • Other income declined by 12.8% YoY.
  • Net profit for the year grew by 437.9% YoY.
  • Net profit margins during the year grew from 2.2% in FY21 to 9.5% in FY22.

XPRO INDIA Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 3,734 4,717 26.3%
Other income Rs m 21 18 -12.8%
Total Revenues Rs m 3,755 4,736 26.1%
Gross profit Rs m 403 638 58.4%
Depreciation Rs m 124 121 -2.7%
Interest Rs m 165 130 -21.3%
Profit before tax Rs m 135 406 201.1%
Tax Rs m 51 -43 -184.7%
Profit after tax Rs m 84 449 437.9%
Gross profit margin % 10.8 13.5
Effective tax rate % 38.0 -10.7
Net profit margin % 2.2 9.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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XPRO INDIA Balance Sheet Analysis

  • The company's current liabilities during FY22 down at Rs 949 million as compared to Rs 1 billion in FY21, thereby witnessing an decrease of -17.2%.
  • Long-term debt down at Rs 637 million as compared to Rs 970 million during FY21, a fall of 34.3%.
  • Current assets rose 19% and stood at Rs 1 billion, while fixed assets fell 0% and stood at Rs 2 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 3 billion as against Rs 3 billion during FY21, thereby witnessing a growth of 7%.

XPRO INDIA Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 899 1,345 49.7
 
Current Liabilities Rs m 1,146 949 -17.2
Long-term Debt Rs m 970 637 -34.3
Total Liabilities Rs m 3,080 3,303 7.2
 
Current assets Rs m 1,221 1,452 19.0
Fixed Assets Rs m 1,860 1,851 -0.5
Total Assets Rs m 3,080 3,303 7.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



XPRO INDIA Cash Flow Statement Analysis

  • XPRO INDIA's cash flow from operating activities (CFO) during FY22 stood at Rs 486 million, an improvement of 1.7% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -105 million, an improvement of 598.2% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs -212 million, an improvement of 58% on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs 170 million from the Rs -45 million net cash flows seen during FY21.

XPRO INDIA 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 478 486 1.7%
Cash Flow from Investing Activities Rs m -15 -105 -
Cash Flow from Financing Activities Rs m -508 -212 -
Net Cash Flow Rs m -45 170 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for XPRO INDIA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 38.0, an improvement from the EPS of Rs 7.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,062.3, stands at 27.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 9.3 times, while the price to sales ratio stands at 2.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 18.1 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 316.1 399.4
TTM Earnings per share Rs 7.1 38.0
Diluted earnings per share Rs 7.1 38.0
Price to Cash Flow x 4.2 18.1
TTM P/E ratio x 10.5 27.9
Price / Book Value ratio x 0.6 7.7
Market Cap Rs m 525 10,302
Dividends per share (Unadj.) Rs 0.0 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for XPRO INDIA

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.5x 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 4.1x during FY22, from 1.8x 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 33.4% during FY22, from 9.3% 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 27.0% during FY22, from 16.1% 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 17.5% during FY22, from 8.1% 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 1.5
Debtors’ Days Days 649 513
Interest coverage x 1.8 4.1
Debt to equity ratio x 1.1 0.5
Return on assets % 8.1 17.5
Return on equity % 9.3 33.4
Return on capital employed % 16.1 27.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how XPRO INDIA has performed over the last 5 years, please visit here.

XPRO INDIA Share Price Performance

Over the last one year, XPRO INDIA share price has moved up from Rs 148.6 to Rs 1,062.3, registering a gain of Rs 913.7 or around 615.1%.

Overall, the S&P BSE SENSEX is up 9.2% over the year.

(To know more, check out historical annual results for XPRO INDIA and quarterly results for XPRO INDIA)

Annual Report FAQs

What is the current share price of XPRO INDIA?

XPRO INDIA currently trades at Rs 777.8 per share. You can check out the latest share price performance of XPRO INDIA here...

What was the revenue of XPRO INDIA in FY22? How does it compare to earlier years?

The revenues of XPRO INDIA stood at Rs 4,736 m in FY22, which was up 26.1% compared to Rs 3,755 m reported in FY21.

XPRO INDIA's revenue has grown from Rs 3,023 m in FY18 to Rs 4,736 m in FY22.

Over the past 5 years, the revenue of XPRO INDIA has grown at a CAGR of 11.9%.

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

The net profit of XPRO INDIA stood at Rs 449 m in FY22, which was up 437.9% compared to Rs 84 m reported in FY21.

This compares to a net profit of Rs 4 m in FY20 and a net profit of Rs 23 m in FY19.

Over the past 5 years, XPRO INDIA net profit has grown at a CAGR of 43.8%.

What does the cash flow statement of XPRO INDIA 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 XPRO INDIA reveals:

  • Cash flow from operations increased in FY22 and stood at Rs 486 m as compared to Rs 478 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -105 m as compared to Rs -15 m in FY21.
  • Cash flow from financial activity increased in FY22 and stood at Rs -212 m as compared to Rs -508 m in FY21.

Here's the cash flow statement of XPRO INDIA for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations341288385478486
From Investments28372-62-15-105
From Financial Activity-628-376-268-508-212
Net Cashflow-4-1654-45170

What does the Key Ratio analysis of XPRO INDIA 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 XPRO INDIA reveals:

  • Operating profit margins witnessed a fall and down at 13.5% in FY22 as against 10.8% in FY21.
  • Net profit margins grew from 2.2% in FY21 to 9.5% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.5 as compared to 1.1 in FY21.

Here's the ratio/financial analysis of XPRO INDIA for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)14.47.98.410.813.5
Net Profit Margin (%)3.50.70.12.29.5
Debt to Equity Ratio (x)1.71.41.31.10.5

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