Executive Summary
Healthy Life Agritec Ltd delivered a sharp year-over-year revenue uplift in QQ1 2024, powered by higher volumes in its dairy and poultry product mix across Maharashtra and Karnataka. Reported revenue of INR 463,152,500 for the quarter translates to approximately INR 46.32 crore, up 129.8% from QQ1 2023. Despite the strong top-line growth, the company’s gross margin remained thin at 4.83%, with gross profit of INR 22,377,500 and EBITDA of INR 14,449,000 (EBITDA margin of ~3.12%). Net income for the quarter rose to INR 10,404,500, delivering a net margin of approximately 2.25% and EPS of INR 0.16. The quarter also displayed working capital intensity, evidenced by substantial increases in accounts receivable and a negative operating cash flow of INR 5.67 crore, partially offset by financing activities that added INR 6.74 crore.
Key Performance Indicators
Key Insights
Revenue: INR 463.15 mn (YoY +129.8%, QoQ +0.0%); Gross Profit: INR 22.38 mn (Gross margin 4.83%, YoY +201.5%); EBITDA: INR 14.45 mn (EBITDA margin 3.12%); Operating Income: INR 14.06 mn (Op. margin 3.03%); Net Income: INR 10.40 mn (Net margin 2.25%, YoY +389.4%); EPS: INR 0.16 (diluted INR 0.16); Cash Flow: Operating cash flow -INR 5.67 mn, Free cash flow -INR 5.67 mn; Balance Sheet: Total assets INR 454.46 mn; Total liabilities INR 204.56 mn; Shareholders’ equity INR 249.76 mn; Current ratio ...
Financial Highlights
Revenue: INR 463.15 mn (YoY +129.8%, QoQ +0.0%); Gross Profit: INR 22.38 mn (Gross margin 4.83%, YoY +201.5%); EBITDA: INR 14.45 mn (EBITDA margin 3.12%); Operating Income: INR 14.06 mn (Op. margin 3.03%); Net Income: INR 10.40 mn (Net margin 2.25%, YoY +389.4%); EPS: INR 0.16 (diluted INR 0.16); Cash Flow: Operating cash flow -INR 5.67 mn, Free cash flow -INR 5.67 mn; Balance Sheet: Total assets INR 454.46 mn; Total liabilities INR 204.56 mn; Shareholders’ equity INR 249.76 mn; Current ratio ~2.32x; Quick ratio ~1.68x; Net debt INR 207.82 mn? (Note: Net debt reported as INR 20.78 mn; Total debt INR 268.19 mn; Cash INR 6.04 mn).
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
463.15M |
129.75% |
0.00% |
| Gross Profit |
22.38M |
201.46% |
0.00% |
| Operating Income |
14.06M |
332.61% |
0.00% |
| Net Income |
10.40M |
389.39% |
0.00% |
| EPS |
0.16 |
68.42% |
0.00% |
Management Commentary
Transcript content was not provided in the material. The analysis below is anchored to the QQ1 2024 results release data. Management commentary in the earnings call (if any) was not included in the supplied data; no forward-looking guidance was disclosed in the provided material. Highlights drawn from the financial results indicate a focus on regional dairy and poultry procurement and distribution, with emphasis on volume growth and working capital management as key near-term drivers.
Forward Guidance
No explicit forward guidance was disclosed in the provided materials. Our assessment suggests the key levers for Healthy Life Agritec going forward are: (1) sustaining revenue growth through expanded procurement and distribution in Maharashtra and Karnataka, (2) improving gross margins via better supplier terms, product mix optimization, or scale effects, and (3) stabilizing working capital to convert earnings into higher operating cash flow. Investors should monitor receivable days, collection efficiency, seasonality in dairy/poultry demand, input-cost volatility, and any management commentary on expansion into new states or product categories that could alter margin and cash-flow dynamics.