JUBILANT LIFE SCIENCES 2017-18 Annual Report Analysis

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JUBILANT LIFE SCIENCES 2017-18 Annual Report Analysis
Thu, 28 Mar

JUBILANT LIFE SCIENCES has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

JUBILANT LIFE SCIENCES Income Statement Analysis

  • Operating income during the year rose 28.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 12.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 20.2% in FY18 as against 23.0% in FY17.
  • Depreciation charges increased by 42.4% and finance costs decreased by 16.7% YoY, respectively.
  • Other income grew by 61.0% YoY.
  • Net profit for the year grew by 10.4% YoY.
  • Net profit margins during the year declined from 9.8% in FY17 to 8.4% in FY18.

JUBILANT LIFE SCIENCES Income Statement 2017-18

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
Net SalesRs m58,61475,17828.3%
Other incomeRs m24940061.0%
Total RevenuesRs m58,86375,57928.4%
Gross profitRs m13,45315,18412.9%
DepreciationRs m2,9144,15142.4%
InterestRs m3,4112,843-16.7%
Profit before taxRs m7,3768,59116.5%
TaxRs m1,6302,24737.8%
Profit after taxRs m5,7466,34410.4%
Gross profit margin%23.020.2
Effective tax rate%22.126.2
Net profit margin%9.88.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JUBILANT LIFE SCIENCES Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 20 billion as compared to Rs 17 billion in FY17, thereby witnessing an increase of 19.0%.
  • Long-term debt down at Rs 30 billion as compared to Rs 35 billion during FY17, a fall of 13.0%.
  • Current assets rose 8% and stood at Rs 32 billion, while fixed assets rose 3% and stood at Rs 61 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 96 billion as against Rs 90 billion during FY17, thereby witnessing a growth of 6%.

JUBILANT LIFE SCIENCES Balance Sheet as on March 2018

No. of Mths Year Ending12 Mar-17*12 Mar-18*% Change
NetworthRs m34,36040,86518.9
 
Current LiabilitiesRs m16,84020,04719.0
Long-term DebtRs m35,05030,478-13.0
Total LiabilitiesRs m90,40796,1766.4
 
Current assetsRs m29,48131,8988.2
Fixed AssetsRs m 58,90560,7153.1
Total AssetsRs m90,40796,1766.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



JUBILANT LIFE SCIENCES Cash Flow Statement Analysis

  • JUBILANT LIFE SCIENCES's cash flow from operating activities (CFO) during FY18 stood at Rs 13 billion, an improvement of 2.7% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -6 billion, an improvement of 37.1% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -9 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -2 billion from the Rs 1 billion net cash flows seen during FY17.

JUBILANT LIFE SCIENCES Cash Flow Statement 2017-18

ParticularsNo. of months1212% Change
Year EndingMar-17Mar-18
Cash Flow from Operating ActivitiesRs m12,68513,0322.7%
Cash Flow from Investing ActivitiesRs m-4,504-6,177-
Cash Flow from Financing ActivitiesRs m-6,859-9,011-
Net Cash FlowRs m1,172-2,123-
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for JUBILANT LIFE SCIENCES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 40.7, an improvement from the EPS of Rs 36.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 658.7, stands at 12.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.1 times, while the price to sales ratio stands at 1.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 10.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Sales per share (Unadj.)Rs376.3482.6
TTM Earnings per shareRs36.940.7
Diluted earnings per shareRs36.139.8
Price to Cash Flow x11.810.0
TTM P/E ratiox12.412.6
Price / Book Value ratiox2.53.1
Market CapRs m102,585104,910
Dividends per share (Unadj.)Rs3.03.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for JUBILANT LIFE SCIENCES

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.6x during FY18, from 1.8x during FY17. 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 4.0x during FY18, from 3.2x during FY17. 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 15.5% during FY18, from 16.7% during FY18. 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 16.0% during FY18, from 15.5% during FY17. 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 9.6% during FY18, from 10.1% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending12 Mar-17*12 Mar-18*
Current ratiox1.81.6
Debtors’ DaysDays6355
Interest coveragex3.24.0
Debt to equity ratiox1.00.7
Return on assets%10.19.6
Return on equity%16.715.5
Return on capital employed%15.516.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how JUBILANT LIFE SCIENCES has performed over the last 5 years, please visit here.

JUBILANT LIFE SCIENCES Share Price Performance

Over the last one year, JUBILANT LIFE SCIENCES share price has moved up from Rs 839.8 to Rs 658.7, registering a loss of Rs 181.2 or around 21.6%.

(To know more, check out historical annual results for JUBILANT LIFE SCIENCES and quarterly results for JUBILANT LIFE SCIENCES)

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JUBILANT LIFE SCIENCES 2018-19 Annual Report Analysis (Annual Result Update)

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Here's an analysis of the annual report of JUBILANT LIFE SCIENCES for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of JUBILANT LIFE SCIENCES. Also includes updates on the valuation of JUBILANT LIFE SCIENCES.

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