ANG LIFESCIENCES INDIA 2021-22 Annual Report Analysis

Fri, 7 Oct

ANG LIFESCIENCES INDIA has announced its results for the year ended March 2022. Let us have a look at the detailed performance review of the company during FY21-22.

ANG LIFESCIENCES INDIA Income Statement Analysis

• Operating income during the year rose 129.7% on a year-on-year (YoY) basis.
• The company's operating profit increased by 342.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 19.2% in FY22 as against 9.9% in FY21.
• Depreciation charges increased by 162.7% and finance costs increased by 136.5% YoY, respectively.
• Other income grew by 20.8% YoY.
• Net profit for the year grew by 456.1% YoY.
• Net profit margins during the year grew from 4.7% in FY21 to 11.4% in FY22.

ANG LIFESCIENCES INDIA Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	1,543	3,543	129.7%
Other income	Rs m	7	9	20.8%
Total Revenues	Rs m	1,550	3,552	129.1%
Gross profit	Rs m	153	679	342.8%
Depreciation	Rs m	22	59	162.7%
Interest	Rs m	40	94	136.5%
Profit before tax	Rs m	99	535	442.6%
Tax	Rs m	26	132	404.9%
Profit after tax	Rs m	73	403	456.1%
Gross profit margin	%	9.9	19.2
Effective tax rate	%	26.5	24.6
Net profit margin	%	4.7	11.4

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ANG LIFESCIENCES INDIA Balance Sheet Analysis

• The company's current liabilities during FY22 stood at Rs 2 billion as compared to Rs 919 million in FY21, thereby witnessing an increase of 81.0%.
• Long-term debt stood at Rs 216 million as compared to Rs 59 million during FY21, a growth of 264.9%.
• Current assets rose 72% and stood at Rs 2 billion, while fixed assets rose 214% and stood at Rs 939 million in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 3 billion as against Rs 1 billion during FY21, thereby witnessing a growth of 102%.

ANG LIFESCIENCES INDIA Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	414	838	102.6
Current Liabilities	Rs m	919	1,663	81.0
Long-term Debt	Rs m	59	216	264.9
Total Liabilities	Rs m	1,418	2,867	102.2
Current assets	Rs m	1,119	1,928	72.3
Fixed Assets	Rs m	299	939	213.7
Total Assets	Rs m	1,418	2,867	102.2

ANG LIFESCIENCES INDIA Cash Flow Statement Analysis

• ANG LIFESCIENCES INDIA's cash flow from operating activities (CFO) during FY22 stood at Rs 247 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs -444 million, an improvement of 470.2% on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs 199 million, an improvement of 6% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs 2 million from the Rs -2 million net cash flows seen during FY21.

ANG LIFESCIENCES INDIA Cash Flow Statement 2021-22

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-21	Mar-22
Cash Flow from Operating Activities	Rs m	-112	247	-
Cash Flow from Investing Activities	Rs m	-78	-444	-
Cash Flow from Financing Activities	Rs m	188	199	5.9%
Net Cash Flow	Rs m	-2	2	-

Current Valuations for ANG LIFESCIENCES INDIA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 38.9, an improvement from the EPS of Rs 14.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 153.6, stands at 4.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.4 times, while the price to sales ratio stands at 0.4 times.
• The company's price to cash flow (P/CF) ratio stood at 10.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Sales per share (Unadj.)	Rs	297.8	341.7
TTM Earnings per share	Rs	14.0	38.9
Diluted earnings per share	Rs	5.6	31.1
Price to Cash Flow	x	11.7	10.0
TTM P/E ratio	x	15.3	4.9
Price / Book Value ratio	x	0.7	5.5
Market Cap	Rs m	305	4,600
Dividends per share (Unadj.)	Rs	0.0	1.0

Ratio Analysis for ANG LIFESCIENCES INDIA

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.2x during FY22, from 1.2x during FY21. 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 6.7x during FY22, from 3.5x during FY21. 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 improved and stood at 48.1% during FY22, from 17.5% during FY22. 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 59.7% during FY22, from 29.3% during FY21. 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 17.3% during FY22, from 7.9% during FY21. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*
Current ratio	x	1.2	1.2
Debtors’ Days	Days	1,391	1,051
Interest coverage	x	3.5	6.7
Debt to equity ratio	x	0.1	0.3
Return on assets	%	7.9	17.3
Return on equity	%	17.5	48.1
Return on capital employed	%	29.3	59.7

To see how ANG LIFESCIENCES INDIA has performed over the last 5 years, please visit here.

ANG LIFESCIENCES INDIA Share Price Performance

Over the last one year, ANG LIFESCIENCES INDIA share price has moved down from Rs 446.0 to Rs 153.6, registering a loss of Rs 292.5 or around 65.6%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 23,758.8 (up 0.0%). Over the last one year it has moved down from 26,270.9 to 23,758.8, a loss of 2,512 points (down 9.6%).

Overall, the S&P BSE SENSEX is down 2.1% over the year.

(To know more, check out historical annual results for ANG LIFESCIENCES INDIA and quarterly results for ANG LIFESCIENCES INDIA)