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INDRAPRASTHA MEDICAL 2022-23 Annual Report Analysis
Mon, 9 Oct

INDRAPRASTHA MEDICAL 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.

INDRAPRASTHA MEDICAL Income Statement Analysis

  • Operating income during the year rose 23.7% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 31.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 13.7% in FY23 as against 12.9% in FY22.
  • Depreciation charges increased by 12.4% and finance costs increased by 25.5% YoY, respectively.
  • Other income grew by 221.5% YoY.
  • Net profit for the year grew by 47.0% YoY.
  • Net profit margins during the year grew from 6.6% in FY22 to 7.8% in FY23.

INDRAPRASTHA MEDICAL Income Statement 2022-23

No. of Mths Year Ending 12 Mar-22* 12 Mar-23* % Change
Net Sales Rs m 8,882 10,987 23.7%
Other income Rs m 31 100 221.5%
Total Revenues Rs m 8,913 11,087 24.4%
Gross profit Rs m 1,143 1,507 31.8%
Depreciation Rs m 349 393 12.4%
Interest Rs m 34 43 25.5%
Profit before tax Rs m 791 1,172 48.2%
Tax Rs m 205 310 51.7%
Profit after tax Rs m 586 862 47.0%
Gross profit margin % 12.9 13.7
Effective tax rate % 25.9 26.5
Net profit margin % 6.6 7.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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INDRAPRASTHA MEDICAL Balance Sheet Analysis

  • The company's current liabilities during FY23 stood at Rs 1 billion as compared to Rs 935 million in FY22, thereby witnessing an increase of 38.6%.
  • Current assets rose 42% and stood at Rs 2 billion, while fixed assets rose 9% and stood at Rs 3 billion in FY23.
  • Overall, the total assets and liabilities for FY23 stood at Rs 6 billion as against Rs 5 billion during FY22, thereby witnessing a growth of 20%.

INDRAPRASTHA MEDICAL Balance Sheet as on March 2023

No. of Mths Year Ending 12 Mar-22* 12 Mar-23* % Change
Networth Rs m 3,254 3,795 16.6
 
Current Liabilities Rs m 935 1,296 38.6
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 4,617 5,551 20.2
 
Current assets Rs m 1,574 2,231 41.7
Fixed Assets Rs m 3,043 3,321 9.1
Total Assets Rs m 4,617 5,551 20.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



INDRAPRASTHA MEDICAL Cash Flow Statement Analysis

  • INDRAPRASTHA MEDICAL's cash flow from operating activities (CFO) during FY23 stood at Rs 1 billion, an improvement of 53.2% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY23 stood at Rs -1 billion, an improvement of 45.6% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY23 stood at Rs -260 million on a YoY basis.
  • Overall, net cash flows for the company during FY23 stood at Rs 105 million from the Rs 168 million net cash flows seen during FY22.

INDRAPRASTHA MEDICAL 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 943 1,445 53.2%
Cash Flow from Investing Activities Rs m -741 -1,079 -
Cash Flow from Financing Activities Rs m -34 -260 -
Net Cash Flow Rs m 168 105 -37.5%
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for INDRAPRASTHA MEDICAL

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.4, an improvement from the EPS of Rs 6.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 175.0, stands at 16.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.2 times, while the price to sales ratio stands at 1.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 5.3 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 96.9 119.9
TTM Earnings per share Rs 6.4 9.4
Diluted earnings per share Rs 6.4 9.4
Price to Cash Flow x 5.7 5.3
TTM P/E ratio x 9.1 16.6
Price / Book Value ratio x 2.2 1.8
Market Cap Rs m 7,176 6,694
Dividends per share (Unadj.) Rs 2.5 3.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for INDRAPRASTHA MEDICAL

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.7x during FY23, from 1.7x 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 improved and stood at 28.4x during FY23, from 24.2x 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 improved and stood at 22.7% during FY23, from 18.0% 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 improved and stood at 32.0% during FY23, from 25.3% 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 improved and stood at 16.3% during FY23, from 13.4% 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 1.7 1.7
Debtors’ Days Days 2 2
Interest coverage x 24.2 28.4
Debt to equity ratio x 0.0 0.0
Return on assets % 13.4 16.3
Return on equity % 18.0 22.7
Return on capital employed % 25.3 32.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how INDRAPRASTHA MEDICAL has performed over the last 5 years, please visit here.

INDRAPRASTHA MEDICAL Share Price Performance

Over the last one year, INDRAPRASTHA MEDICAL share price has moved up from Rs 62.3 to Rs 175.0, registering a gain of Rs 112.8 or around 181.1%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 27,979.6 (down 0.3%). Over the last one year it has moved up from 23,643.2 to 27,979.6, a gain of 4,336 points (up 18.3%).

Overall, the S&P BSE SENSEX is up 12.5% over the year.

(To know more, check out historical annual results for INDRAPRASTHA MEDICAL and quarterly results for INDRAPRASTHA MEDICAL)

Annual Report FAQs

What is the current share price of INDRAPRASTHA MEDICAL?

INDRAPRASTHA MEDICAL currently trades at Rs 262.3 per share. You can check out the latest share price performance of INDRAPRASTHA MEDICAL here...

What was the revenue of INDRAPRASTHA MEDICAL in FY23? How does it compare to earlier years?

The revenues of INDRAPRASTHA MEDICAL stood at Rs 11,087 m in FY23, which was up 24.4% compared to Rs 8,913 m reported in FY22.

INDRAPRASTHA MEDICAL's revenue has grown from Rs 7,886 m in FY19 to Rs 11,087 m in FY23.

Over the past 5 years, the revenue of INDRAPRASTHA MEDICAL has grown at a CAGR of 8.9%.

What was the net profit of INDRAPRASTHA MEDICAL in FY23? How does it compare to earlier years?

The net profit of INDRAPRASTHA MEDICAL stood at Rs 862 m in FY23, which was up 47.0% compared to Rs 586 m reported in FY22.

This compares to a net profit of Rs 23 m in FY21 and a net profit of Rs 436 m in FY20.

Over the past 5 years, INDRAPRASTHA MEDICAL net profit has grown at a CAGR of 32.0%.

What does the cash flow statement of INDRAPRASTHA MEDICAL 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 INDRAPRASTHA MEDICAL reveals:

  • Cash flow from operations increased in FY23 and stood at Rs 1,445 m as compared to Rs 943 m in FY22.
  • Cash flow from investments decreased in FY23 and stood at Rs -1,079 m as compared to Rs -741 m in FY22.
  • Cash flow from financial activity decreased in FY23 and stood at Rs -260 m as compared to Rs -34 m in FY22.

Here's the cash flow statement of INDRAPRASTHA MEDICAL for the past 5 years.

(Rs m)FY19FY20FY21FY22FY23
From Operations7528652689431,445
From Investments-167-402-191-741-1,079
From Financial Activity-442-427-31-34-260
Net Cashflow1433546168105

What does the Key Ratio analysis of INDRAPRASTHA MEDICAL 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 INDRAPRASTHA MEDICAL reveals:

  • Operating profit margins witnessed a fall and down at 13.7% in FY23 as against 12.9% in FY22.
  • Net profit margins grew from 6.6% in FY22 to 7.8% in FY23.
  • Debt to Equity ratio for FY23 stood at 0.0 as compared to 0.0 in FY22.

Here's the ratio/financial analysis of INDRAPRASTHA MEDICAL for the past 5 years.

 FY19FY20FY21FY22FY23
Operating Profit Margin (%)10.210.46.612.913.7
Net Profit Margin (%)3.65.30.46.67.8
Debt to Equity Ratio (x)0.10.00.00.00.0

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