How has been the historical performance of Yuranus Infrast.?

Revenue and Operating Income Trends

Yuranus Infrast.'s net sales have demonstrated considerable volatility over the past seven years. From a modest ₹0.79 crore in March 2019, sales remained subdued through to March 2023, hovering below ₹1 crore. However, the fiscal year ending March 2024 saw a remarkable surge to ₹73.40 crore, followed by a sharp decline to ₹27.46 crore in March 2025. This spike and subsequent drop suggest episodic revenue recognition, possibly linked to project completions or contract cycles typical in the infrastructure sector.

Other operating income has consistently been nil, indicating that the company’s revenue streams are primarily derived from core operations without ancillary income contributions.

Cost Structure and Profitability

The company's expenditure profile reveals that the purchase of finished goods constitutes the largest cost component, aligning closely with total operating income figures. For instance, in March 2024, purchases accounted for ₹70.02 crore against total operating income of ₹73.40 crore, underscoring a high cost of goods sold ratio. Employee costs have remained relatively stable but minimal, reflecting a lean operational setup.

Operating profit margins excluding other income have mostly been negative, except for a positive margin of 2.64% in March 2024. The gross profit margin followed a similar pattern, peaking at 16.67% in March 2022 but turning negative in the latest fiscal year. Profit after tax (PAT) margins have also fluctuated, with a notable positive margin of 13.79% in March 2021, declining to a negative 1.6% in March 2025. Earnings per share (EPS) mirrored these trends, reaching a high of ₹4.14 in March 2024 before dropping to a loss of ₹1.26 per share in March 2025.

Balance Sheet and Financial Position

On the balance sheet front, Yuranus Infrast. has maintained a consistent equity capital base of ₹3.50 crore over the years. Shareholders' funds have grown from ₹2.09 crore in March 2020 to ₹3.21 crore in March 2025, despite reserves turning negative in the latest fiscal year. The company’s total liabilities increased to ₹5.49 crore in March 2025 from ₹4.96 crore the previous year, reflecting a rise in long-term borrowings and other long-term liabilities, which were negligible in earlier years.

Asset-wise, the company’s net block increased significantly to ₹1.10 crore in March 2025 from near zero in prior years, indicating recent capital investments. Current assets have decreased from ₹4.96 crore in March 2024 to ₹3.39 crore in March 2025, with cash and bank balances rising modestly to ₹1.30 crore. The book value per share has declined from ₹10.41 in March 2024 to ₹9.16 in March 2025, reflecting the impact of recent losses on net worth.

Cash Flow and Liquidity

Cash flow data reveals limited activity, with operating cash flows turning negative in March 2022 but recovering to neutral in subsequent years. Investing activities showed a positive inflow in March 2022, likely linked to asset acquisitions. Financing activities have remained largely inactive, suggesting no significant capital raising or debt repayments during the period. The closing cash and cash equivalents stood at ₹1.00 crore in March 2024, rising slightly to ₹1.30 crore in March 2025, indicating a stable liquidity position despite operational challenges.

Summary of Historical Performance

Yuranus Infrast.'s historical performance is characterised by episodic revenue spikes and fluctuating profitability. The company experienced a significant revenue jump in the fiscal year ending March 2024, which was not sustained in the following year. Profitability has been inconsistent, with operating and net margins swinging between losses and modest gains. The balance sheet shows a cautious approach to leverage, with a recent increase in borrowings and capital investments. Cash flow patterns suggest limited operational cash generation but stable liquidity.

Investors analysing Yuranus Infrast. should consider the volatility in revenue and earnings, alongside the company's evolving capital structure and asset base. The infrastructure sector's cyclical nature and project-based revenue recognition likely contribute to these fluctuations, underscoring the importance of monitoring future contract wins and execution efficiency for a clearer performance outlook.

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