DISHMAN CARBOGEN AMCIS 2020-21 Annual Report Analysis

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DISHMAN CARBOGEN AMCIS 2020-21 Annual Report Analysis
Thu, 12 Aug

DISHMAN CARBOGEN AMCIS has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

DISHMAN CARBOGEN AMCIS Income Statement Analysis

  • Operating income during the year fell 6.4% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 49.3% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 13.2% in FY21 as against 24.3% in FY20.
  • Depreciation charges increased by 8.9% and finance costs decreased by 23.1% YoY, respectively.
  • Other income declined by 13.5% YoY.
  • Net profit for the year declined by 204.2% YoY.
  • Net profit margins during the year declined from 7.6% in FY20 to 8.5% in FY21.

DISHMAN CARBOGEN AMCIS Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 20,436 19,120 -6.4%
Other income Rs m 445 385 -13.5%
Total Revenues Rs m 20,881 19,505 -6.6%
Gross profit Rs m 4,976 2,521 -49.3%
Depreciation Rs m 2,829 3,079 8.9%
Interest Rs m 620 476 -23.1%
Profit before tax Rs m 1,972 -650 -133.0%
Tax Rs m 387 1,001 158.7%
Profit after tax Rs m 1,585 -1,651 -204.2%
Gross profit margin % 24.3 13.2
Effective tax rate % 19.6 -153.9
Net profit margin % 7.6 -8.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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DISHMAN CARBOGEN AMCIS Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 12 billion as compared to Rs 16 billion in FY20, thereby witnessing an decrease of -20.4%.
  • Long-term debt stood at Rs 5 billion as compared to Rs 2 billion during FY20, a growth of 108.8%.
  • Current assets fell 7% and stood at Rs 17 billion, while fixed assets rose 4% and stood at Rs 67 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 83 billion as against Rs 82 billion during FY20, thereby witnessing a growth of 1%.

DISHMAN CARBOGEN AMCIS Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 57,151 56,988 -0.3
 
Current Liabilities Rs m 15,690 12,488 -20.4
Long-term Debt Rs m 2,413 5,039 108.8
Total Liabilities Rs m 81,934 83,144 1.5
 
Current assets Rs m 17,790 16,626 -6.5
Fixed Assets Rs m 64,144 66,517 3.7
Total Assets Rs m 81,934 83,144 1.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



DISHMAN CARBOGEN AMCIS Cash Flow Statement Analysis

  • DISHMAN CARBOGEN AMCIS's cash flow from operating activities (CFO) during FY21 stood at Rs 5 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -4 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -110 million, an improvement of 89% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs 1 billion from the Rs 456 million net cash flows seen during FY20.

DISHMAN CARBOGEN AMCIS Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Mar-20 Mar-21
Cash Flow from Operating Activities Rs m 5,851 5,134 -12.3%
Cash Flow from Investing Activities Rs m -4,417 -3,808 -
Cash Flow from Financing Activities Rs m -978 -110 -
Net Cash Flow Rs m 456 1,216 166.5%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for DISHMAN CARBOGEN AMCIS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -10.5, an decline from the EPS of Rs 10.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 192.7, stands at -18.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.4 times, while the price to sales ratio stands at 1.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 21.1 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Sales per share (Unadj.) Rs 130.3 122.0
TTM Earnings per share Rs 10.1 -10.5
Diluted earnings per share Rs 10.1 -10.5
Price to Cash Flow x 6.8 21.1
TTM P/E ratio x -18.3 -18.3
Price / Book Value ratio x 0.4 0.4
Market Cap Rs m 30,220 30,204
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for DISHMAN CARBOGEN AMCIS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.3x during FY21, from 1.1x during FY20. 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 -0.4x during FY21, from 4.2x during FY20. 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 -2.9% during FY21, from 2.8% during FY21. 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 -0.3% during FY21, from 4.4% during FY20. 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 -1.4% during FY21, from 2.7% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-20* 12 Mar-21*
Current ratio x 1.1 1.3
Debtors’ Days Days 10 7
Interest coverage x 4.2 -0.4
Debt to equity ratio x 0.0 0.1
Return on assets % 2.7 -1.4
Return on equity % 2.8 -2.9
Return on capital employed % 4.4 -0.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how DISHMAN CARBOGEN AMCIS has performed over the last 5 years, please visit here.

DISHMAN CARBOGEN AMCIS Share Price Performance

Over the last one year, DISHMAN CARBOGEN AMCIS share price has moved down from Rs 194.6 to Rs 192.7, registering a loss of Rs 1.9 or around 1.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 26,061.9 (up 0.2%). Over the last one year it has moved up from 19,096.0 to 26,061.9, a gain of 6,966 points (up 36.5%).

Overall, the S&P BSE SENSEX is up 43.4% over the year.

(To know more, check out historical annual results for DISHMAN CARBOGEN AMCIS and quarterly results for DISHMAN CARBOGEN AMCIS)

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