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ASTEC LIFESCIENCES 2021-22 Annual Report Analysis
Wed, 6 Jul

ASTEC LIFESCIENCES 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.

ASTEC LIFESCIENCES Income Statement Analysis

  • Operating income during the year rose 21.9% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 38.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 22.7% in FY22 as against 20.1% in FY21.
  • Depreciation charges increased by 33.9% and finance costs increased by 90.7% YoY, respectively.
  • Other income grew by 33.5% YoY.
  • Net profit for the year grew by 38.1% YoY.
  • Net profit margins during the year grew from 11.7% in FY21 to 13.3% in FY22.

ASTEC LIFESCIENCES Income Statement 2021-22

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Net Sales Rs m 5,549 6,766 21.9%
Other income Rs m 80 107 33.5%
Total Revenues Rs m 5,629 6,873 22.1%
Gross profit Rs m 1,115 1,538 38.0%
Depreciation Rs m 257 344 33.9%
Interest Rs m 48 91 90.7%
Profit before tax Rs m 891 1,211 36.0%
Tax Rs m 240 312 30.2%
Profit after tax Rs m 651 899 38.1%
Gross profit margin % 20.1 22.7
Effective tax rate % 26.9 25.8
Net profit margin % 11.7 13.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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ASTEC LIFESCIENCES Balance Sheet Analysis

  • The company's current liabilities during FY22 stood at Rs 5 billion as compared to Rs 3 billion in FY21, thereby witnessing an increase of 52.2%.
  • Current assets rose 56% and stood at Rs 5 billion, while fixed assets rose 10% and stood at Rs 4 billion in FY22.
  • Overall, the total assets and liabilities for FY22 stood at Rs 9 billion as against Rs 7 billion during FY21, thereby witnessing a growth of 32%.

ASTEC LIFESCIENCES Balance Sheet as on March 2022

No. of Mths Year Ending 12 Mar-21* 12 Mar-22* % Change
Networth Rs m 3,088 3,962 28.3
 
Current Liabilities Rs m 3,223 4,906 52.2
Long-term Debt Rs m 400 0 -100.0
Total Liabilities Rs m 6,776 8,968 32.3
 
Current assets Rs m 3,304 5,157 56.1
Fixed Assets Rs m 3,472 3,811 9.8
Total Assets Rs m 6,776 8,968 32.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



ASTEC LIFESCIENCES Cash Flow Statement Analysis

  • ASTEC LIFESCIENCES's cash flow from operating activities (CFO) during FY22 stood at Rs 236 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY22 stood at Rs -1 billion, an improvement of 42.1% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY22 stood at Rs 805 million on a YoY basis.
  • Overall, net cash flows for the company during FY22 stood at Rs 2 million from the Rs 0 million net cash flows seen during FY21.

ASTEC LIFESCIENCES 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 -82 236 -
Cash Flow from Investing Activities Rs m -731 -1,039 -
Cash Flow from Financing Activities Rs m 813 805 -1.1%
Net Cash Flow Rs m 0 2 596.8%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for ASTEC LIFESCIENCES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 45.9, an improvement from the EPS of Rs 33.2 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,867.3, stands at 40.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 9.2 times, while the price to sales ratio stands at 5.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 22.6 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 283.2 345.2
TTM Earnings per share Rs 33.2 45.9
Diluted earnings per share Rs 33.2 45.9
Price to Cash Flow x 21.6 22.6
TTM P/E ratio x 30.1 40.7
Price / Book Value ratio x 5.5 7.1
Market Cap Rs m 17,110 28,054
Dividends per share (Unadj.) Rs 1.5 1.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for ASTEC LIFESCIENCES

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.1x during FY22, from 1.0x 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 deteriorated and stood at 14.4x during FY22, from 19.7x 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 22.7% during FY22, from 21.1% 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 32.9% during FY22, from 26.9% 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 11.0% during FY22, from 10.3% 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 1.0 1.1
Debtors’ Days Days 1,231 1,476
Interest coverage x 19.7 14.4
Debt to equity ratio x 0.1 0.0
Return on assets % 10.3 11.0
Return on equity % 21.1 22.7
Return on capital employed % 26.9 32.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

ASTEC LIFESCIENCES Share Price Performance

Over the last one year, ASTEC LIFESCIENCES share price has moved up from Rs 1,363.6 to Rs 1,867.3, registering a gain of Rs 503.7 or around 36.9%.

Overall, the S&P BSE SENSEX is up 1.6% over the year.

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

Annual Report FAQs

What is the current share price of ASTEC LIFESCIENCES?

ASTEC LIFESCIENCES currently trades at Rs 1,242.0 per share. You can check out the latest share price performance of ASTEC LIFESCIENCES here...

What was the revenue of ASTEC LIFESCIENCES in FY22? How does it compare to earlier years?

The revenues of ASTEC LIFESCIENCES stood at Rs 6,873 m in FY22, which was up 22.1% compared to Rs 5,629 m reported in FY21.

ASTEC LIFESCIENCES' revenue has grown from Rs 3,724 m in FY18 to Rs 6,873 m in FY22.

Over the past 5 years, the revenue of ASTEC LIFESCIENCES has grown at a CAGR of 16.6%.

What was the net profit of ASTEC LIFESCIENCES in FY22? How does it compare to earlier years?

The net profit of ASTEC LIFESCIENCES stood at Rs 899 m in FY22, which was up 38.1% compared to Rs 651 m reported in FY21.

This compares to a net profit of Rs 475 m in FY20 and a net profit of Rs 358 m in FY19.

Over the past 5 years, ASTEC LIFESCIENCES net profit has grown at a CAGR of 26.6%.

What does the cash flow statement of ASTEC LIFESCIENCES reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of ASTEC LIFESCIENCES reveals:

  • Cash flow from operations increased in FY22 and stood at Rs 236 m as compared to Rs -82 m in FY21.
  • Cash flow from investments decreased in FY22 and stood at Rs -1,039 m as compared to Rs -731 m in FY21.
  • Cash flow from financial activity decreased in FY22 and stood at Rs 805 m as compared to Rs 813 m in FY21.

Here's the cash flow statement of ASTEC LIFESCIENCES for the past 5 years.

(Rs m)FY18FY19FY20FY21FY22
From Operations6471531,684-82236
From Investments-489-525-738-731-1,039
From Financial Activity-182371-945813805
Net Cashflow-25-1102

What does the Key Ratio analysis of ASTEC LIFESCIENCES reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of ASTEC LIFESCIENCES reveals:

  • Operating profit margins witnessed a fall and down at 22.7% in FY22 as against 20.1% in FY21.
  • Net profit margins grew from 11.7% in FY21 to 13.3% in FY22.
  • Debt to Equity ratio for FY22 stood at 0.0 as compared to 0.1 in FY21.

Here's the ratio/financial analysis of ASTEC LIFESCIENCES for the past 5 years.

 FY18FY19FY20FY21FY22
Operating Profit Margin (%)20.017.716.320.122.7
Net Profit Margin (%)9.68.39.111.713.3
Debt to Equity Ratio (x)0.00.00.00.10.0

Read: Latest Annual Report Analysis of ASTEC LIFESCIENCES

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