We are currently facing an issue in receiving the NSE feed. Hence the stock prices are not updated. We are working on fixing this at the earliest. We regret the inconvenience caused.

ALBERT DAVID 2022-23 Annual Report Analysis

Mon, 19 Feb

ALBERT DAVID has announced its results for the year ended March 2023. Let us have a look at the detailed performance review of the company during FY22-23.

ALBERT DAVID Income Statement Analysis

• Operating income during the year rose 8.9% on a year-on-year (YoY) basis.
• The company's operating profit increased by 8.6% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 13.0% in FY23 as against 13.1% in FY22.
• Depreciation charges decreased by 2.9% and finance costs decreased by 13.1% YoY, respectively.
• Other income declined by 2.8% YoY.
• Net profit for the year grew by 2.6% YoY.
• Net profit margins during the year declined from 11.2% in FY22 to 10.6% in FY23.

ALBERT DAVID Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	3,135	3,416	8.9%
Other income	Rs m	158	154	-2.8%
Total Revenues	Rs m	3,294	3,570	8.4%
Gross profit	Rs m	409	445	8.6%
Depreciation	Rs m	88	85	-2.9%
Interest	Rs m	7	6	-13.1%
Profit before tax	Rs m	473	507	7.3%
Tax	Rs m	120	146	20.9%
Profit after tax	Rs m	353	362	2.6%
Gross profit margin	%	13.1	13.0
Effective tax rate	%	25.5	28.7
Net profit margin	%	11.2	10.6

RESPONSE PENDING: Your Meeting with Tanushree Banerjee Tomorrow...

ALBERT DAVID Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 2 billion as compared to Rs 2 billion in FY22, thereby witnessing an increase of 4.2%.
• Current assets rose 20% and stood at Rs 4 billion, while fixed assets fell 20% and stood at Rs 1 billion in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 5 billion as against Rs 5 billion during FY22, thereby witnessing a growth of 8%.

ALBERT DAVID Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	2,795	3,116	11.5
Current Liabilities	Rs m	1,812	1,888	4.2
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	4,751	5,122	7.8
Current assets	Rs m	3,272	3,932	20.2
Fixed Assets	Rs m	1,479	1,190	-19.5
Total Assets	Rs m	4,751	5,122	7.8

ALBERT DAVID Cash Flow Statement Analysis

• ALBERT DAVID's cash flow from operating activities (CFO) during FY23 stood at Rs 105 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -50 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -64 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -8 million from the Rs -8 million net cash flows seen during FY22.

ALBERT DAVID Cash Flow Statement 2022-23

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-22	Mar-23
Cash Flow from Operating Activities	Rs m	404	105	-74.0%
Cash Flow from Investing Activities	Rs m	-397	-50	-
Cash Flow from Financing Activities	Rs m	-16	-64	-
Net Cash Flow	Rs m	-8	-8	-

Current Valuations for ALBERT DAVID

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 63.4, an improvement from the EPS of Rs 61.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 511.9, stands at 8.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.9 times, while the price to sales ratio stands at 0.9 times.
• The company's price to cash flow (P/CF) ratio stood at 7.2 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Sales per share (Unadj.)	Rs	549.1	598.2
TTM Earnings per share	Rs	61.7	63.4
Diluted earnings per share	Rs	61.8	63.4
Price to Cash Flow	x	6.9	7.2
TTM P/E ratio	x	8.6	8.1
Price / Book Value ratio	x	1.1	1.0
Market Cap	Rs m	3,192	3,236
Dividends per share (Unadj.)	Rs	9.0	9.0

Ratio Analysis for ALBERT DAVID

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.1x during FY23, from 1.8x during FY22. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 87.9x during FY23, from 71.4x during FY22. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company declined and down at 11.6% during FY23, from 12.6% during FY23. 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 declined and down at 16.5% during FY23, from 17.2% during FY22. 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 declined and down at 7.2% during FY23, from 7.6% during FY22. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Current ratio	x	1.8	2.1
Debtors’ Days	Days	291	324
Interest coverage	x	71.4	87.9
Debt to equity ratio	x	0.0	0.0
Return on assets	%	7.6	7.2
Return on equity	%	12.6	11.6
Return on capital employed	%	17.2	16.5

To see how ALBERT DAVID has performed over the last 5 years, please visit here.

ALBERT DAVID Share Price Performance

Over the last one year, ALBERT DAVID share price has moved down from Rs 531.7 to Rs 511.9, registering a loss of Rs 19.8 or around 3.7%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 21,883.5 (up 0.4%). Over the last one year it has moved down from 24,303.8 to 21,883.5, a loss of 2,420 points (down 10.0%).

Overall, the S&P BSE SENSEX is up 1.8% over the year.

(To know more, check out historical annual results for ALBERT DAVID and quarterly results for ALBERT DAVID)