DISHMAN CARBOGEN AMCIS 2022-23 Annual Report Analysis

Fri, 31 Mar

DISHMAN CARBOGEN AMCIS 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.

DISHMAN CARBOGEN AMCIS Income Statement Analysis

• Operating income during the year rose 12.7% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 8.7% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 11.8% in FY23 as against 14.5% in FY22.
• Depreciation charges decreased by 8.7% and finance costs increased by 50.8% YoY, respectively.
• Other income declined by 43.5% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year declined from 0.8% in FY22 to 1.2% in FY23.

DISHMAN CARBOGEN AMCIS Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	21,407	24,129	12.7%
Other income	Rs m	491	278	-43.5%
Total Revenues	Rs m	21,898	24,407	11.5%
Gross profit	Rs m	3,110	2,841	-8.7%
Depreciation	Rs m	3,076	2,807	-8.7%
Interest	Rs m	568	857	50.8%
Profit before tax	Rs m	-43	-546	NA
Tax	Rs m	-223	-248	NA
Profit after tax	Rs m	180	-298	NA
Gross profit margin	%	14.5	11.8
Effective tax rate	%	523.8	45.4
Net profit margin	%	0.8	-1.2

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DISHMAN CARBOGEN AMCIS Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 18 billion as compared to Rs 14 billion in FY22, thereby witnessing an increase of 26.7%.
• Long-term debt stood at Rs 10 billion as compared to Rs 8 billion during FY22, a growth of 37.4%.
• Current assets rose 4% and stood at Rs 19 billion, while fixed assets rose 11% and stood at Rs 75 billion in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 94 billion as against Rs 86 billion during FY22, thereby witnessing a growth of 9%.

DISHMAN CARBOGEN AMCIS Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	55,489	58,097	4.7
Current Liabilities	Rs m	14,198	17,984	26.7
Long-term Debt	Rs m	7,620	10,467	37.4
Total Liabilities	Rs m	86,342	94,395	9.3
Current assets	Rs m	18,387	19,184	4.3
Fixed Assets	Rs m	67,955	75,211	10.7
Total Assets	Rs m	86,342	94,395	9.3

DISHMAN CARBOGEN AMCIS Cash Flow Statement Analysis

• DISHMAN CARBOGEN AMCIS's cash flow from operating activities (CFO) during FY23 stood at Rs 2 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs -4 billion on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 2 billion, an improvement of 92% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 216 million from the Rs -1 billion net cash flows seen during FY22.

DISHMAN CARBOGEN AMCIS 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	3,549	2,203	-37.9%
Cash Flow from Investing Activities	Rs m	-6,185	-4,485	-
Cash Flow from Financing Activities	Rs m	1,304	2,497	91.5%
Net Cash Flow	Rs m	-1,333	216	-

Current Valuations for DISHMAN CARBOGEN AMCIS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -1.9, an decline from the EPS of Rs 1.1 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 124.7, stands at -65.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.3 times, while the price to sales ratio stands at 0.8 times.
• The company's price to cash flow (P/CF) ratio stood at 8.8 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	136.5	153.9
TTM Earnings per share	Rs	1.1	-1.9
Diluted earnings per share	Rs	1.1	-1.9
Price to Cash Flow	x	8.9	8.8
TTM P/E ratio	x	161.5	-65.6
Price / Book Value ratio	x	0.5	0.4
Market Cap	Rs m	28,926	22,059
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for DISHMAN CARBOGEN AMCIS

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.1x during FY23, from 1.3x 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 deteriorated and stood at 0.4x during FY23, from 0.9x 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 -0.5% during FY23, from 0.3% 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 0.5% during FY23, from 0.8% 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 0.6% during FY23, from 0.9% 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	1.3	1.1
Debtors’ Days	Days	8	9
Interest coverage	x	0.9	0.4
Debt to equity ratio	x	0.1	0.2
Return on assets	%	0.9	0.6
Return on equity	%	0.3	-0.5
Return on capital employed	%	0.8	0.5

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 185.2 to Rs 124.7, registering a loss of Rs 60.5 or around 32.6%.

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 DISHMAN CARBOGEN AMCIS and quarterly results for DISHMAN CARBOGEN AMCIS)