Complete Analysis of Boat Unlisted Shares Annual Report 2022

a) P&L Statement of Boat Unlisted Share

1. Revenue has increased from 132 Crores in Fy21 to 288 Crores in Fy22. 2. Total Expenses have increased from 120 Crores in Fy21 to 278 Crores in Fy22. The main factors are, Employee benefit expense which has increased from 15 Crores to 56 Crores and Other expenses from 151 Crores to 340 Crores. Other Expenses Break-up : Advertisement cost has increased from 47 Cr to 99 Cr. Warranty Cost has increased from 52 Cr to 136 Cr. 3. PAT has reduced from 86 Cr in Fy21 to 68 Cr in Fy22 due to high expenses.

b) Cash flow Statement of Boat Unlisted Share ( Bad Cash Flows )

In Fy22, Total Cash generated by Boat Unlisted Share before working capital changes is 265 Crores. However, 250 Crores of cash is stuck in Inventories , 242 Crores of cash is stuck in Trade Receivables. So, overall they have cash outflow of 317 Crores in Fy22 from Cash flow from operations. ( Negative for the business). In Fy22, they have done acquisition of businesses worth Rs. 192 Crores, 30 Crores they have bought equity shares of an associate company, done FD of 396 Crores. So, overall, Cash flow from Investing is negative 632 Crores. In Fy22, they have raised money from equity worth Rs. 50 Crores, taken short term loan of 885 Crores. So, overall they have financed 894 Crores in Fy22. If you see the cash flow statement of Boat, it is concluded that they have not able to make positive cash flow from operations due to high inventories and trade receivables. Due to this, they have to raised Short term debt of 885 Crores. So, overall there is revenue growth in the business but Boat is not able to generate the cash flow from operations.

Valuation of Boat Unlisted Shares

Total Outstanding Shares as on 31.03.2022 = 9,60, 30,300 Price of Boat Unlisted Shares = Rs.850 per share Mcap = 8100 Crores. https://unlistedzone.com/shares/boat-unlisted-share-price/