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SANOFI INDIA 2020-21 Annual Report Analysis
Fri, 31 Dec

SANOFI INDIA has announced its results for the year ended December 2021. Let us have a look at the detailed performance review of the company during FY20-21.

SANOFI INDIA Income Statement Analysis

  • Operating income during the year rose 1.9% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 86.4% YoY during the fiscal. Operating profit margins witnessed a fall and down at 42.3% in CY21 as against 23.1% in CY20.
  • Depreciation charges decreased by 18.9% increased by 0.0% YoY, respectively.
  • Other income declined by 16.9% YoY.
  • Net profit for the year grew by 97.7% YoY.
  • Net profit margins during the year grew from 16.5% in CY20 to 31.9% in CY21.

SANOFI INDIA Income Statement 2020-21

No. of Mths Year Ending 12 Dec-20* 12 Dec-21* % Change
Net Sales Rs m 29,019 29,566 1.9%
Other income Rs m 898 746 -16.9%
Total Revenues Rs m 29,917 30,312 1.3%
Gross profit Rs m 6,714 12,515 86.4%
Depreciation Rs m 822 667 -18.9%
Interest Rs m 18 18 0.0%
Profit before tax Rs m 6,772 12,576 85.7%
Tax Rs m 1,996 3,132 56.9%
Profit after tax Rs m 4,776 9,444 97.7%
Gross profit margin % 23.1 42.3
Effective tax rate % 29.5 24.9
Net profit margin % 16.5 31.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Enclosed: Invitation to Access Our Latest Research Project

SANOFI INDIA Balance Sheet Analysis

  • The company's current liabilities during CY21 stood at Rs 23 billion as compared to Rs 17 billion in CY20, thereby witnessing an increase of 35.2%.
  • Current assets rose 30% and stood at Rs 37 billion, while fixed assets fell 17% and stood at Rs 19 billion in CY21.
  • Overall, the total assets and liabilities for CY21 stood at Rs 56 billion as against Rs 51 billion during CY20, thereby witnessing a growth of 9%.

SANOFI INDIA Balance Sheet as on December 2021

No. of Mths Year Ending 12 Dec-20* 12 Dec-21* % Change
Networth Rs m 20,650 21,655 4.9
 
Current Liabilities Rs m 16,941 22,908 35.2
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 50,934 55,553 9.1
 
Current assets Rs m 28,406 36,791 29.5
Fixed Assets Rs m 22,528 18,762 -16.7
Total Assets Rs m 50,934 55,553 9.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



SANOFI INDIA Cash Flow Statement Analysis

  • SANOFI INDIA's cash flow from operating activities (CFO) during CY21 stood at Rs 6 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during CY21 stood at Rs 6 billion, an improvement of 128.2% on a YoY basis.
  • Cash flow from financial activities (CFF) during CY21 stood at Rs -8 billion on a YoY basis.
  • Overall, net cash flows for the company during CY21 stood at Rs 3 billion from the Rs 775 million net cash flows seen during CY20.

SANOFI INDIA Cash Flow Statement 2020-21

Particulars No. of months 12 12 % Change
Year Ending Dec-20 Dec-21
Cash Flow from Operating Activities Rs m 6,111 5,588 -8.6%
Cash Flow from Investing Activities Rs m 2,764 6,308 128.2%
Cash Flow from Financing Activities Rs m -8,100 -8,490 -
Net Cash Flow Rs m 775 3,406 339.5%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for SANOFI INDIA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 410.1, an improvement from the EPS of Rs 207.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 6,580.0, stands at 14.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 8.9 times, while the price to sales ratio stands at 6.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 19.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Dec-20* 12 Dec-21*
Sales per share (Unadj.) Rs 1,260.1 1,283.8
TTM Earnings per share Rs 207.4 410.1
Diluted earnings per share Rs 207.4 410.1
Price to Cash Flow x 18.0 19.0
TTM P/E ratio x 19.2 14.6
Price / Book Value ratio x 8.3 8.9
Market Cap Rs m 171,567 191,661
Dividends per share (Unadj.) Rs 365.0 490.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for SANOFI INDIA

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.6x during CY21, from 1.7x during CY20. 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 699.7x during CY21, from 377.2x during CY20. 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 43.6% during CY21, from 23.1% during CY21. 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 58.2% during CY21, from 32.9% during CY20. 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 17.0% during CY21, from 9.4% during CY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Dec-20* 12 Dec-21*
Current ratio x 1.7 1.6
Debtors’ Days Days 19 18
Interest coverage x 377.2 699.7
Debt to equity ratio x 0.0 0.0
Return on assets % 9.4 17.0
Return on equity % 23.1 43.6
Return on capital employed % 32.9 58.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

SANOFI INDIA Share Price Performance

Over the last one year, SANOFI INDIA share price has moved down from Rs 7,775.5 to Rs 6,580.0, registering a loss of Rs 1,195.5 or around 15.4%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 22,927.4 (up 3.0%). Over the last one year it has moved down from 24,360.6 to 22,927.4, a loss of 1,433 points (down 5.9%).

Overall, the S&P BSE SENSEX is up 8.2% over the year.

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

Annual Report FAQs

What is the current share price of SANOFI INDIA?

SANOFI INDIA currently trades at Rs 6,372.2 per share. You can check out the latest share price performance of SANOFI INDIA here...

What was the revenue of SANOFI INDIA in CY21? How does it compare to earlier years?

The revenues of SANOFI INDIA stood at Rs 30,312 m in CY21, which was up 1.3% compared to Rs 29,917 m reported in CY20.

SANOFI INDIA's revenue has grown from Rs 25,165 m in CY17 to Rs 30,312 m in CY21.

Over the past 5 years, the revenue of SANOFI INDIA has grown at a CAGR of 4.8%.

What was the net profit of SANOFI INDIA in CY21? How does it compare to earlier years?

The net profit of SANOFI INDIA stood at Rs 9,444 m in CY21, which was up 97.7% compared to Rs 4,776 m reported in CY20.

This compares to a net profit of Rs 4,142 m in CY19 and a net profit of Rs 3,806 m in CY18.

Over the past 5 years, SANOFI INDIA net profit has grown at a CAGR of 30.5%.

What does the cash flow statement of SANOFI INDIA 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 SANOFI INDIA reveals:

  • Cash flow from operations decreased in CY21 and stood at Rs 5,588 m as compared to Rs 6,111 m in CY20.
  • Cash flow from investments increased in CY21 and stood at Rs 6,308 m as compared to Rs 2,764 m in CY20.
  • Cash flow from financial activity decreased in CY21 and stood at Rs -8,490 m as compared to Rs -8,100 m in CY20.

Here's the cash flow statement of SANOFI INDIA for the past 5 years.

(Rs m)CY17CY18CY19CY20CY21
From Operations4,3513,7394,1236,1115,588
From Investments-787-7316572,7646,308
From Financial Activity-1,884-1,972-1,832-8,100-8,490
Net Cashflow1,6801,0362,9487753,406

What does the Key Ratio analysis of SANOFI INDIA 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 SANOFI INDIA reveals:

  • Operating profit margins witnessed a fall and down at 42.3% in CY21 as against 23.1% in CY20.
  • Net profit margins grew from 16.5% in CY20 to 31.9% in CY21.
  • Debt to Equity ratio for CY21 stood at 0.0 as compared to 0.0 in CY20.

Here's the ratio/financial analysis of SANOFI INDIA for the past 5 years.

 CY17CY18CY19CY20CY21
Operating Profit Margin (%)22.122.519.723.142.3
Net Profit Margin (%)13.413.713.516.531.9
Debt to Equity Ratio (x)0.00.00.00.00.0

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