ASTRAZENECA PHARMA 2017-18 Annual Report Analysis

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ASTRAZENECA PHARMA 2017-18 Annual Report Analysis
Fri, 29 Mar

ASTRAZENECA PHARMA has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

ASTRAZENECA PHARMA Income Statement Analysis

  • Operating income during the year rose 5.0% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 25.3% YoY during the fiscal. Operating profit margins witnessed a fall and down at 8.1% in FY18 as against 6.8% in FY17.
  • Depreciation charges decreased by 6.9% increased by 0.0% YoY, respectively.
  • Other income declined by 14.9% YoY.
  • Net profit for the year grew by 29.2% YoY.
  • Net profit margins during the year grew from 3.6% in FY17 to 4.4% in FY18.

ASTRAZENECA PHARMA Income Statement 2017-18

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
Net SalesRs m5,4375,7105.0%
Other incomeRs m144123-14.9%
Total RevenuesRs m5,5815,8334.5%
Gross profitRs m36946325.3%
DepreciationRs m158147-6.9%
InterestRs m000.0%
Profit before taxRs m35543823.4%
TaxRs m15517915.8%
Profit after taxRs m20125929.2%
Gross profit margin%6.88.1
Effective tax rate%43.540.8
Net profit margin%3.64.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ASTRAZENECA PHARMA Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 2 billion as compared to Rs 2 billion in FY17, thereby witnessing an increase of 8.7%.
  • Current assets rose 28% and stood at Rs 3 billion, while fixed assets fell 14% and stood at Rs 790 million in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 5 billion as against Rs 4 billion during FY17, thereby witnessing a growth of 11%.

ASTRAZENECA PHARMA Balance Sheet as on March 2018

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
NetworthRs m2,2292,46910.8
 
Current LiabilitiesRs m1,9032,0708.7
Long-term DebtRs m000.0
Total LiabilitiesRs m4,1554,60510.8
 
Current assetsRs m2,5163,20927.6
Fixed AssetsRs m 917790-13.8
Total AssetsRs m4,1554,60510.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ASTRAZENECA PHARMA Cash Flow Statement Analysis

  • ASTRAZENECA PHARMA's cash flow from operating activities (CFO) during FY18 stood at Rs 88 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -94 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs 0 million, an improvement of 0% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -6 million from the Rs 384 million net cash flows seen during FY17.

ASTRAZENECA PHARMA Cash Flow Statement 2017-18

ParticularsNo. of months1212% Change
Year EndingMar-17Mar-18
Cash Flow from Operating ActivitiesRs m38188-76.9%
Cash Flow from Investing ActivitiesRs m3-94-
Cash Flow from Financing ActivitiesRs m000.0%
Net Cash FlowRs m384-6-
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for ASTRAZENECA PHARMA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 10.4, an improvement from the EPS of Rs 8.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,987.8, stands at 103.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 10.9 times, while the price to sales ratio stands at 4.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 122.3 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Sales per share (Unadj.)Rs217.5228.4
TTM Earnings per shareRs8.010.4
Diluted earnings per shareRs8.010.4
Price to Cash Flow x138.5122.3
TTM P/E ratiox103.9103.9
Price / Book Value ratiox11.910.9
Market CapRs m49,69549,695
Dividends per share (Unadj.)Rs0.00.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for ASTRAZENECA PHARMA

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.6x during FY18, from 1.3x during FY17. The current ratio measures the company's ability to pay short-term and long-term obligations.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company improved and stood at 10.5% during FY18, from 9.0% during FY18. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company improved and stood at 17.7% during FY18, from 15.9% during FY17. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company improved and stood at 5.6% during FY18, from 4.8% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Current ratiox1.31.6
Debtors’ DaysDays2935
Interest coveragex0.00.0
Debt to equity ratiox0.00.0
Return on assets%4.85.6
Return on equity%9.010.5
Return on capital employed%15.917.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how ASTRAZENECA PHARMA has performed over the last 5 years, please visit here.

ASTRAZENECA PHARMA Share Price Performance

Over the last one year, ASTRAZENECA PHARMA share price has moved up from Rs 926.5 to Rs 1,987.8, registering a gain of Rs 1,061.3 or around 114.5%.

(To know more, check out historical annual results for ASTRAZENECA PHARMA and quarterly results for ASTRAZENECA PHARMA)

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