GUFIC BIOSCIENCE 2021-22 Annual Report Analysis

Tue, 23 Aug

GUFIC BIOSCIENCE 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.

GUFIC BIOSCIENCE Income Statement Analysis

• Operating income during the year rose 59.8% on a year-on-year (YoY) basis.
• The company's operating profit increased by 73.6% YoY during the fiscal. Operating profit margins witnessed a fall and down at 18.7% in FY22 as against 17.2% in FY21.
• Depreciation charges increased by 5.1% and finance costs decreased by 64.4% YoY, respectively.
• Other income declined by 16.8% YoY.
• Net profit for the year grew by 116.7% YoY.
• Net profit margins during the year grew from 9.1% in FY21 to 12.3% in FY22.

GUFIC BIOSCIENCE Income Statement 2021-22

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Net Sales	Rs m	4,877	7,792	59.8%
Other income	Rs m	37	31	-16.8%
Total Revenues	Rs m	4,914	7,823	59.2%
Gross profit	Rs m	839	1,457	73.6%
Depreciation	Rs m	163	171	5.1%
Interest	Rs m	136	48	-64.4%
Profit before tax	Rs m	577	1,268	119.8%
Tax	Rs m	135	310	130.0%
Profit after tax	Rs m	442	958	116.7%
Gross profit margin	%	17.2	18.7
Effective tax rate	%	23.4	24.4
Net profit margin	%	9.1	12.3

Special Anniversary Offer: Vanishing Tomorrow - Your Chance to Save 80%

GUFIC BIOSCIENCE Balance Sheet Analysis

• The company's current liabilities during FY22 stood at Rs 2 billion as compared to Rs 2 billion in FY21, thereby witnessing an increase of 14.2%.
• Long-term debt stood at Rs 474 million as compared to Rs 354 million during FY21, a growth of 33.8%.
• Current assets rose 23% and stood at Rs 3 billion, while fixed assets rose 53% and stood at Rs 2 billion in FY22.
• Overall, the total assets and liabilities for FY22 stood at Rs 5 billion as against Rs 4 billion during FY21, thereby witnessing a growth of 33%.

GUFIC BIOSCIENCE Balance Sheet as on March 2022

No. of Mths Year Ending		12 Mar-21*	12 Mar-22*	% Change
Networth	Rs m	1,734	2,691	55.2
Current Liabilities	Rs m	1,637	1,870	14.2
Long-term Debt	Rs m	354	474	33.8
Total Liabilities	Rs m	3,921	5,214	33.0
Current assets	Rs m	2,606	3,208	23.1
Fixed Assets	Rs m	1,315	2,006	52.6
Total Assets	Rs m	3,921	5,214	33.0

GUFIC BIOSCIENCE Cash Flow Statement Analysis

• GUFIC BIOSCIENCE's cash flow from operating activities (CFO) during FY22 stood at Rs 1 billion, an improvement of 19.7% on a YoY basis.
• Cash flow from investing activities (CFI) during FY22 stood at Rs -959 million, an improvement of 1,333.4% on a YoY basis.
• Cash flow from financial activities (CFF) during FY22 stood at Rs -31 million, an improvement of 96% on a YoY basis.
• Overall, net cash flows for the company during FY22 stood at Rs 54 million from the Rs 19 million net cash flows seen during FY21.

GUFIC BIOSCIENCE 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	873	1,044	19.7%
Cash Flow from Investing Activities	Rs m	-67	-959	-
Cash Flow from Financing Activities	Rs m	-786	-31	-
Net Cash Flow	Rs m	19	54	178.7%

Current Valuations for GUFIC BIOSCIENCE

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.9, an improvement from the EPS of Rs 4.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 199.2, stands at 22.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 7.2 times, while the price to sales ratio stands at 2.5 times.
• The company's price to cash flow (P/CF) ratio stood at 16.2 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	50.3	80.4
TTM Earnings per share	Rs	4.6	9.9
Diluted earnings per share	Rs	4.6	9.9
Price to Cash Flow	x	18.3	16.2
TTM P/E ratio	x	25.1	22.5
Price / Book Value ratio	x	5.1	6.8
Market Cap	Rs m	8,832	18,308
Dividends per share (Unadj.)	Rs	0.1	0.1

Ratio Analysis for GUFIC BIOSCIENCE

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.7x during FY22, from 1.6x 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 27.2x during FY22, from 5.2x 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 35.6% during FY22, from 25.5% 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 41.6% during FY22, from 34.2% 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 19.3% during FY22, from 14.8% 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	1.6	1.7
Debtors’ Days	Days	932	710
Interest coverage	x	5.2	27.2
Debt to equity ratio	x	0.2	0.2
Return on assets	%	14.8	19.3
Return on equity	%	25.5	35.6
Return on capital employed	%	34.2	41.6

To see how GUFIC BIOSCIENCE has performed over the last 5 years, please visit here.

GUFIC BIOSCIENCE Share Price Performance

Over the last one year, GUFIC BIOSCIENCE share price has moved up from Rs 180.6 to Rs 199.2, registering a gain of Rs 18.7 or around 10.3%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 22,760.1 (up 0.6%). Over the last one year it has moved down from 25,483.3 to 22,760.1, a loss of 2,723 points (down 10.7%).

Overall, the S&P BSE SENSEX is up 6.7% over the year.

(To know more, check out historical annual results for GUFIC BIOSCIENCE and quarterly results for GUFIC BIOSCIENCE)

Read: Latest Annual Report Analysis of GUFIC BIOSCIENCE