Bootes Impex Tech Ltd, a pioneer in net-zero construction and sustainable infrastructure, reported a remarkable financial performance in the fiscal year 2023–24, reflecting its rapid growth trajectory and expanding market footprint. This review provides a detailed analysis of the company’s consolidated financial results, key performance indicators, and cash flow dynamics based on audited reports.
➢ Revenue Growth and Composition
- Total Revenue: Bootes achieved a consolidated total revenue of ₹224.65 crore in FY 2023–24, a substantial increase from ₹43.83 crore in FY 2022–23, representing a growth of over 400% year-on-year.
- Revenue from Operations: The core revenue from operations stood at ₹195.69 crore, up from ₹41.47 crore in the previous year, driven by increased EPC project execution and new contract wins.
- Other Income: Other income surged to ₹28.96 crore from ₹2.36 crore, largely due to profit contributions from subsidiaries and joint ventures such as Univastu Bootes Infra LLP, enhancing overall profitability.
➢ Profitability Metrics
- Profit Before Tax (PBT): The company reported a PBT of ₹114.28 crore in FY 2023–24, a dramatic rise from ₹3.47 crore in FY 2022–23, underscoring improved operational efficiency and scale benefits.
- Profit After Tax (PAT): PAT increased sharply to ₹9 crore from ₹3.47 crore, reflecting strong bottom-line growth and effective tax management.
- Margins: The profit margins improved significantly due to economies of scale, better cost control, and higher-margin projects, with PAT margin expanding from approximately 0.6% to over 4% within a year.
- Total Expenses: Expenses rose to ₹110.37 crore from ₹40.36 crore, consistent with the scale-up in operations and material consumption.
- Cost of Materials: Material costs increased to ₹52.77 crore, reflecting higher project volumes and input requirements.
- Personnel Costs: Employee benefit expenses nearly doubled to ₹36.14 crore, indicating workforce expansion to support growing operations.
- Depreciation & Finance Costs: Depreciation rose to ₹1.68 crore due to capital asset additions, while finance costs remained modest at ₹0.13 crore.
- Operating Cash Flow: Despite strong profitability, the company experienced a significant cash outflow from operations of approximately ₹15.82 crore, primarily due to a sharp increase in trade receivables and advances reflecting project scale-up and longer payment cycles.
- Working Capital Changes: Trade and other receivables increased by ₹13.63 crore, and loans and advances grew by ₹3.34 crore, while current liabilities increased by ₹2.82 crore, highlighting the need for efficient working capital management during rapid growth phases.
- Capex and Investments: Capital expenditure and investments in subsidiaries contributed to increased depreciation and asset base, supporting future revenue growth.
| Metric | FY 2023–24 |
| Revenue Growth | +412% |
| PAT Margin | ~4.0% |
| Debt Levels | Low finance cost indicates manageable debt |
