Ellenbarrie Industrial Gases (ELLEN) Q4 22/23 earnings summary

Executive summary

• Audited FY ended March 31, 2023 financial statements received an unmodified opinion; internal financial controls were adequate and operating effectively.

• Revenue and profit declined YoY, while cash and total equity increased; capital expenditure and new borrowings supported a major project in progress.

Financial highlights

• Revenue from operations was ₹2,16,79,18,342 vs ₹2,46,72,60,518 YoY; total income was ₹2,33,62,23,227 vs ₹2,61,98,92,093.

• PBT was ₹54,18,16,850 vs ₹61,91,07,748; net profit was ₹35,76,60,164 vs ₹44,19,74,287.

• EPS was ₹54.63 vs ₹67.51; total expenses fell to ₹1,79,44,06,377 from ₹2,00,07,84,344.

• Other income included ₹7,63,16,160 gain on investment sales and ₹6,27,228 of liabilities and unclaimed balances written back.

• Cash and cash equivalents rose to ₹1,13,33,41,047 from ₹90,98,08,694; total assets increased to ₹5,39,58,22,921 from ₹3,95,93,85,425.

Outlook and guidance

• Capital work in progress of ₹71,40,50,357 relates to project expenditure incurred within one year; completion was expected in FY23-24 within budgeted capex.

• The auditor assessed liabilities as capable of being met as they fall due within one year of the balance-sheet date, with no material uncertainty identified.