JUBILANT PHARMOVA 2020-21 Annual Report Analysis

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JUBILANT PHARMOVA 2020-21 Annual Report Analysis
Mon, 8 Nov

JUBILANT PHARMOVA 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.

JUBILANT PHARMOVA Income Statement Analysis

  • Operating income during the year fell 2.7% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 2.2% YoY during the fiscal. Operating profit margins witnessed a fall and down at 21.0% in FY21 as against 20.9% in FY20.
  • Depreciation charges decreased by 2.2% and finance costs decreased by 14.0% YoY, respectively.
  • Other income declined by 37.1% YoY.
  • Net profit for the year declined by 8.2% YoY.
  • Net profit margins during the year declined from 9.8% in FY20 to 9.2% in FY21.

JUBILANT PHARMOVA Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 91,544 89,055 -2.7%
Other income Rs m 474 298 -37.1%
Total Revenues Rs m 92,018 89,354 -2.9%
Gross profit Rs m 19,124 18,699 -2.2%
Depreciation Rs m 4,619 4,516 -2.2%
Interest Rs m 2,874 2,473 -14.0%
Profit before tax Rs m 12,105 12,008 -0.8%
Tax Rs m 3,123 3,764 20.5%
Profit after tax Rs m 8,982 8,244 -8.2%
Gross profit margin % 20.9 21.0
Effective tax rate % 25.8 31.3
Net profit margin % 9.8 9.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



ALERT: Top Investment Recommendation for 2022

JUBILANT PHARMOVA Balance Sheet Analysis

  • The company's current liabilities during FY21 down at Rs 10 billion as compared to Rs 26 billion in FY20, thereby witnessing an decrease of -60.0%.
  • Long-term debt down at Rs 26 billion as compared to Rs 37 billion during FY20, a fall of 31.4%.
  • Current assets fell 41% and stood at Rs 30 billion, while fixed assets fell 20% and stood at Rs 58 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 88 billion as against Rs 123 billion during FY20, thereby witnessing a fall of 29%.

JUBILANT PHARMOVA Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 56,039 47,407 -15.4
 
Current Liabilities Rs m 26,190 10,488 -60.0
Long-term Debt Rs m 37,397 25,640 -31.4
Total Liabilities Rs m 123,104 87,634 -28.8
 
Current assets Rs m 50,383 29,525 -41.4
Fixed Assets Rs m 72,721 58,109 -20.1
Total Assets Rs m 123,104 87,634 -28.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



JUBILANT PHARMOVA Cash Flow Statement Analysis

  • JUBILANT PHARMOVA 's cash flow from operating activities (CFO) during FY21 stood at Rs 18 billion, an improvement of 15.6% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -7 billion, an improvement of 126.0% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -17 billion on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -7 billion from the Rs 2 billion net cash flows seen during FY20.

JUBILANT PHARMOVA 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 15,429 17,843 15.6%
Cash Flow from Investing Activities Rs m -3,270 -7,390 -
Cash Flow from Financing Activities Rs m -10,504 -17,094 -
Net Cash Flow Rs m 2,254 -7,289 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for JUBILANT PHARMOVA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 51.8, an decline from the EPS of Rs 56.4 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 615.0, stands at 14.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.2 times, while the price to sales ratio stands at 1.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 7.7 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 574.7 559.1
TTM Earnings per share Rs 56.4 51.8
Diluted earnings per share Rs 56.4 51.8
Price to Cash Flow x 7.2 7.7
TTM P/E ratio x 14.1 14.1
Price / Book Value ratio x 1.4 2.2
Market Cap Rs m 97,958 97,958
Dividends per share (Unadj.) Rs 5.0 5.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for JUBILANT PHARMOVA

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.8x during FY21, from 1.9x 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 improved and stood at 5.9x during FY21, from 5.2x 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 improved and stood at 17.4% during FY21, from 16.0% 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 improved and stood at 19.8% during FY21, from 16.0% 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 improved and stood at 12.2% during FY21, from 9.6% 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 1.9 2.8
Debtors’ Days Days 52 34
Interest coverage x 5.2 5.9
Debt to equity ratio x 0.7 0.5
Return on assets % 9.6 12.2
Return on equity % 16.0 17.4
Return on capital employed % 16.0 19.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

JUBILANT PHARMOVA Share Price Performance

Over the last one year, JUBILANT PHARMOVA share price has moved down from Rs 700.9 to Rs 615.0, registering a loss of Rs 85.9 or around 12.2%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 25,170.5 (down 0.6%). Over the last one year it has moved up from 19,653.3 to 25,170.5, a gain of 5,517 points (up 28.1%).

Overall, the S&P BSE SENSEX is up 49.1% over the year.

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

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JUBILANT LIFE SCIENCES Announces Quarterly Results (4QFY20); Net Profit Up 358.8% (Quarterly Result Update)

Jun 1, 2020 | Updated on Jun 1, 2020

For the quarter ended March 2020, JUBILANT LIFE SCIENCES has posted a net profit of Rs 3 bn (up 358.8% YoY). Sales on the other hand came in at Rs 24 bn (up 0.2% YoY). Read on for a complete analysis of JUBILANT LIFE SCIENCES's quarterly results.

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