Balance Sheet Azad Engineering Limited

Equities

AZAD

INE02IJ01035

Renewable Energy Equipment & Services

End-of-day quote NSE India S.E. Other stock markets 2024-09-06			5-day change	1st Jan Change
1,556.80 ^INR	-2.72%		+0.90%	+124.95%

Aug. 08	Azad Engineering Limited Reports Earnings Results for the First Quarter Ended June 30, 2024	CI
Jul. 12	Azad Engineering Bags Five-Year Contract from Siemens; Shares Up 4%	MT

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Published financial data: AZAD ENGINEERING LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023
Revenues	1.23B	1.94B	2.52B
Total Revenues	1.23B	1.94B	2.52B
Cost of Goods Sold, Total	147M	217M	323M
Gross Profit	1.08B	1.73B	2.19B
Selling General & Admin Expenses, Total	329M	469M	607M
Depreciation & Amortization - (IS)	88.73M	133M	166M
Other Operating Expenses	470M	635M	832M
Other Operating Expenses, Total	888M	1.24B	1.6B
Operating Income	193M	491M	589M
Interest Expense, Total	-44.62M	-106M	-333M
Interest And Investment Income	10.89M	7.91M	27.1M
Net Interest Expenses	-33.73M	-98.19M	-306M
Currency Exchange Gains (Loss)	10.95M	-1.59M	60.11M
Other Non Operating Income (Expenses)	-7.67M	-28.87M	-42.86M
EBT, Excl. Unusual Items	162M	362M	300M
Gain (Loss) On Sale Of Assets	-	14.42M	-
Other Unusual Items	-	24.44M	-169M
EBT, Incl. Unusual Items	162M	401M	132M
Income Tax Expense	47.36M	107M	46.86M
Earnings From Continuing Operations	115M	295M	84.73M
Net Income to Company	115M	295M	84.73M
Net Income - (IS)	115M	295M	84.73M
Net Income to Common Incl Extra Items	115M	295M	84.73M
Net Income to Common Excl. Extra Items	115M	295M	84.73M
Per Share Items
Net EPS - Basic	2.53	6.49	1.79
Basic EPS - Continuing Operations	2.53	6.49	1.79
Basic Weighted Average Shares Outstanding	45.4M	45.4M	47.3M
Net EPS - Diluted	2.53	6.49	1.79
Diluted EPS - Continuing Operations	2.53	6.49	1.79
Diluted Weighted Average Shares Outstanding	45.4M	45.4M	47.3M
Normalized Basic EPS	2.24	4.99	3.97
Normalized Diluted EPS	2.24	4.99	3.97
Supplemental Items
EBITDA	282M	624M	755M
EBITA	193M	491M	589M
EBIT	193M	491M	589M
EBITDAR	282M	629M	763M
Total Revenues (As Reported)	1.25B	1.99B	2.62B
Effective Tax Rate - (Ratio)	29.17	26.6	35.61
Total Current Taxes	41.49M	86.68M	28.16M
Total Deferred Taxes	5.87M	20.09M	18.7M
Normalized Net Income	101M	227M	188M
Interest Capitalized	-	38.18M	61.48M
Interest on Long-Term Debt	19.4M	62.09M	367M
Non-Cash Pension Expense	710K	1.03M	1.72M
Supplemental Operating Expense Items
Advertising Expense	2M	940K	6.34M
Selling and Marketing Expenses	2M	940K	6.34M
Net Rental Expense, Total	550K	5.17M	8.01M
Imputed Operating Lease Interest Expense	-	4.19M	10.15M
Imputed Operating Lease Depreciation	-	981K	-2.14M
Maintenance & Repair Expenses, Total	8.8M	9.12M	21.89M

Fiscal Period: March	2021	2022	2023
Assets
Cash And Equivalents	17.74M	44.25M	194M
Short Term Investments	-	69.73M	206M
Total Cash And Short Term Investments	17.74M	114M	400M
Accounts Receivable, Total	526M	746M	1.19B
Other Receivables	12.34M	-	910K
Total Receivables	538M	746M	1.19B
Inventory	343M	574M	861M
Prepaid Expenses	18.11M	9.5M	17.43M
Other Current Assets, Total	343M	233M	371M
Total Current Assets	1.26B	1.68B	2.84B
Gross Property Plant And Equipment	1.3B	1.9B	2.93B
Accumulated Depreciation	-88.73M	-222M	-388M
Net Property Plant And Equipment	1.21B	1.68B	2.55B
Long-term Investments	-	6.89M	1.13M
Other Long-Term Assets, Total	89.88M	679M	508M
Total Assets	2.56B	4.04B	5.89B
Liabilities
Accounts Payable, Total	373M	425M	475M
Accrued Expenses, Total	70.63M	99.42M	103M
Short-term Borrowings	298M	538M	553M
Current Portion of Long-Term Debt	164M	208M	244M
Current Income Taxes Payable	39.07M	84.18M	24.93M
Other Current Liabilities	180M	123M	81.13M
Total Current Liabilities	1.13B	1.48B	1.48B
Long-Term Debt	415M	1.23B	2.21B
Pension & Other Post Retirement Benefits	14.08M	22.52M	25.64M
Deferred Tax Liability Non Current	97.65M	116M	136M
Total Liabilities	1.65B	2.84B	3.85B
Common Stock, Total	15.13M	15.13M	16.52M
Additional Paid In Capital	2.97M	2.97M	755M
Retained Earnings	891M	1.15B	1.23B
Comprehensive Income and Other	-400K	35.18M	37.24M
Total Common Equity	909M	1.2B	2.04B
Total Equity	909M	1.2B	2.04B
Total Liabilities And Equity	2.56B	4.04B	5.89B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	45.4M	45.4M	49.55M
ECS Total Common Shares Outstanding	45.4M	-	49.55M
Book Value / Share	20.02	26.44	41.16
Tangible Book Value	909M	1.2B	2.04B
Tangible Book Value Per Share	20.02	26.44	41.16
Total Debt	877M	1.97B	3.01B
Net Debt	859M	1.86B	2.61B
Debt Equivalent of Unfunded Proj. Benefit Obligation	15.41M	24.54M	28.1M
Debt Equivalent Oper. Leases	4.4M	41.36M	64.08M
Account Code - Inventory Valuation	-	-	6
Inventories - Raw Materials, Total	214M	273M	364M
Inventories - Work In Process, Total	104M	280M	400M
Inventories - Finished Goods, Total	25.62M	20.3M	65.03M
Inventories - Others	-	-	31.83M
Land - (BS)	82.59M	82.59M	82.59M
Buildings, Total	94.46M	99.93M	118M
Machinery, Total	1.12B	1.48B	2.35B
Full Time Employees	-	-	1.27K
Accumulated Allowance for Doubtful Accounts (Supple)	7.89M	10.25M	15M

Fiscal Period: March	2021	2022	2023
Net Income	115M	295M	84.73M
Depreciation & Amortization - CF	88.73M	133M	166M
Depreciation & Amortization, Total	88.73M	133M	166M
Asset Writedown & Restructuring Costs	-	-	31.79M
Provision and Write-off of Bad Debts	7.89M	2.37M	4.75M
Other Operating Activities, Total	4.03M	178M	420M
Change In Accounts Receivable	-112M	-238M	-418M
Change In Inventories	-178M	-231M	-308M
Change In Accounts Payable	73.47M	76.84M	49.9M
Change in Other Net Operating Assets	47.78M	-6.69M	-133M
Cash from Operations	47.73M	209M	-102M
Capital Expenditure	-204M	-1.17B	-856M
Sale of Property, Plant, and Equipment	-	-	18.77M
Investment in Marketable and Equity Securities, Total	-154M	21.73M	-201M
Other Investing Activities, Total	10.89M	7.75M	26.73M
Cash from Investing	-347M	-1.14B	-1.01B
Short Term Debt Issued, Total	147M	284M	51.13M
Long-Term Debt Issued, Total	247M	1.05B	1.78B
Total Debt Issued	394M	1.33B	1.83B
Long-Term Debt Repaid, Total	-105M	-236M	-615M
Total Debt Repaid	-105M	-236M	-615M
Issuance of Common Stock	-	-	573M
Other Financing Activities, Total	-53.54M	-136M	-524M
Cash from Financing	236M	959M	1.26B
Net Change in Cash	-63.17M	26.51M	150M
Supplemental Items
Cash Interest Paid	53.54M	136M	524M
Cash Income Tax Paid (Refund)	74.42M	47.78M	96.39M
Levered Free Cash Flow	-	-1.05B	-1.45B
Unlevered Free Cash Flow	-	-982M	-1.24B
Change In Net Working Capital	-	251M	921M
Net Debt Issued / Repaid	290M	1.09B	1.21B

Fiscal Period: March	2021	2022	2023
Profitability
Return on Assets	-	9.3	7.41
Return on Total Capital	-	12.38	8.96
Return On Equity %	-	27.93	5.23
Return on Common Equity	-	27.93	5.23
Margin Analysis
Gross Profit Margin %	88.03	88.85	87.15
SG&A Margin	26.77	24.11	24.12
EBITDA Margin %	22.94	32.1	29.98
EBITA Margin %	15.71	25.26	23.39
EBIT Margin %	15.71	25.26	23.39
Income From Continuing Operations Margin %	9.37	15.15	3.37
Net Income Margin %	9.37	15.15	3.37
Net Avail. For Common Margin %	9.37	15.15	3.37
Normalized Net Income Margin	8.27	11.65	7.46
Levered Free Cash Flow Margin	-	-53.92	-57.68
Unlevered Free Cash Flow Margin	-	-50.51	-49.42
Asset Turnover
Asset Turnover	-	0.59	0.51
Fixed Assets Turnover	-	1.35	1.19
Receivables Turnover (Average Receivables)	-	3.06	2.6
Inventory Turnover (Average Inventory)	-	0.47	0.45
Short Term Liquidity
Current Ratio	1.12	1.13	1.91
Quick Ratio	0.49	0.58	1.07
Operating Cash Flow to Current Liabilities	0.04	0.14	-0.07
Days Sales Outstanding (Average Receivables)	-	119.38	140.17
Days Outstanding Inventory (Average Inventory)	-	771.82	809.44
Average Days Payable Outstanding	-	325.57	269.38
Cash Conversion Cycle (Average Days)	-	565.64	680.23
Long Term Solvency
Total Debt/Equity	96.5	164.31	147.36
Total Debt / Total Capital	49.11	62.17	59.57
LT Debt/Equity	45.61	102.12	108.27
Long-Term Debt / Total Capital	23.21	38.64	43.77
Total Liabilities / Total Assets	64.5	70.32	65.38
EBIT / Interest Expense	4.32	4.63	1.77
EBITDA / Interest Expense	6.31	5.88	2.27
(EBITDA - Capex) / Interest Expense	1.74	-5.16	-0.31
Total Debt / EBITDA	3.12	3.16	3.98
Net Debt / EBITDA	3.05	2.98	3.45
Total Debt / (EBITDA - Capex)	11.29	-3.6	-29.57
Net Debt / (EBITDA - Capex)	11.06	-3.4	-25.64
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	58.46	29.42
Gross Profit, 1 Yr. Growth %	-	59.95	26.94
EBITDA, 1 Yr. Growth %	-	121.73	20.87
EBITA, 1 Yr. Growth %	-	154.72	19.87
EBIT, 1 Yr. Growth %	-	154.72	19.87
Earnings From Cont. Operations, 1 Yr. Growth %	-	156.15	-71.24
Net Income, 1 Yr. Growth %	-	156.15	-71.24
Normalized Net Income, 1 Yr. Growth %	-	123.26	-17.15
Diluted EPS Before Extra, 1 Yr. Growth %	-	156.48	-72.41
Accounts Receivable, 1 Yr. Growth %	-	41.95	59
Inventory, 1 Yr. Growth %	-	67.33	50
Net Property, Plant and Equip., 1 Yr. Growth %	-	38.8	51.52
Total Assets, 1 Yr. Growth %	-	57.91	45.73
Tangible Book Value, 1 Yr. Growth %	-	32.03	69.98
Common Equity, 1 Yr. Growth %	-	32.03	69.98
Cash From Operations, 1 Yr. Growth %	-	338.7	-148.76
Capital Expenditures, 1 Yr. Growth %	-	474.7	-26.91
Levered Free Cash Flow, 1 Yr. Growth %	-	-	38.45
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	26.62
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	43.21
Gross Profit, 2 Yr. CAGR %	-	-	42.49
EBITDA, 2 Yr. CAGR %	-	-	63.71
EBITA, 2 Yr. CAGR %	-	-	74.74
EBIT, 2 Yr. CAGR %	-	-	74.74
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	-14.16
Net Income, 2 Yr. CAGR %	-	-	-14.16
Normalized Net Income, 2 Yr. CAGR %	-	-	36
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-15.89
Accounts Receivable, 2 Yr. CAGR %	-	-	50.23
Inventory, 2 Yr. CAGR %	-	-	58.43
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	45.02
Total Assets, 2 Yr. CAGR %	-	-	51.7
Tangible Book Value, 2 Yr. CAGR %	-	-	49.81
Common Equity, 2 Yr. CAGR %	-	-	49.81
Cash From Operations, 2 Yr. CAGR %	-	-	46.25
Capital Expenditures, 2 Yr. CAGR %	-	-	104.95