NARAYANA HRUDAYALAYA 2020-21 Annual Report Analysis

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NARAYANA HRUDAYALAYA 2020-21 Annual Report Analysis
Tue, 19 Oct

NARAYANA HRUDAYALAYA 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.

NARAYANA HRUDAYALAYA Income Statement Analysis

  • Operating income during the year fell 17.4% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 54.7% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 7.3% in FY21 as against 13.3% in FY20.
  • Depreciation charges decreased by 1.2% and finance costs decreased by 12.2% YoY, respectively.
  • Other income declined by 0.6% YoY.
  • Net profit for the year declined by 106.1% YoY.
  • Net profit margins during the year declined from 3.9% in FY20 to 0.3% in FY21.

NARAYANA HRUDAYALAYA Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 31,278 25,823 -17.4%
Other income Rs m 283 282 -0.6%
Total Revenues Rs m 31,562 26,105 -17.3%
Gross profit Rs m 4,160 1,885 -54.7%
Depreciation Rs m 1,858 1,835 -1.2%
Interest Rs m 938 823 -12.2%
Profit before tax Rs m 1,647 -492 -129.9%
Tax Rs m 423 -418 -198.9%
Profit after tax Rs m 1,225 -75 -106.1%
Gross profit margin % 13.3 7.3
Effective tax rate % 25.6 84.9
Net profit margin % 3.9 -0.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Check Out: Why Millions of Dollars are Getting Pumped into this Sector?

NARAYANA HRUDAYALAYA Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 7 billion as compared to Rs 6 billion in FY20, thereby witnessing an increase of 16.8%.
  • Long-term debt down at Rs 5 billion as compared to Rs 6 billion during FY20, a fall of 18.5%.
  • Current assets rose 13% and stood at Rs 7 billion, while fixed assets fell 9% and stood at Rs 21 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 28 billion as against Rs 29 billion during FY20, thereby witnessing a fall of 4%.

NARAYANA HRUDAYALAYA Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 11,326 11,165 -1.4
 
Current Liabilities Rs m 6,019 7,032 16.8
Long-term Debt Rs m 6,185 5,041 -18.5
Total Liabilities Rs m 28,891 27,682 -4.2
 
Current assets Rs m 5,864 6,651 13.4
Fixed Assets Rs m 23,026 21,031 -8.7
Total Assets Rs m 28,891 27,682 -4.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



NARAYANA HRUDAYALAYA Cash Flow Statement Analysis

  • NARAYANA HRUDAYALAYA's cash flow from operating activities (CFO) during FY21 stood at Rs 3 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -1 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -2 billion, an improvement of 20% on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -23 million from the Rs 75 million net cash flows seen during FY20.

NARAYANA HRUDAYALAYA 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 4,433 3,091 -30.3%
Cash Flow from Investing Activities Rs m -1,885 -1,130 -
Cash Flow from Financing Activities Rs m -2,469 -1,984 -
Net Cash Flow Rs m 75 -23 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for NARAYANA HRUDAYALAYA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -0.4, an decline from the EPS of Rs 6.0 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 524.7, stands at 56.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 7.0 times, while the price to sales ratio stands at 3.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 60.9 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 153.1 126.4
TTM Earnings per share Rs 6.0 -0.4
Diluted earnings per share Rs 6.0 -0.4
Price to Cash Flow x 34.8 60.9
TTM P/E ratio x 56.7 56.7
Price / Book Value ratio x 5.1 7.0
Market Cap Rs m 107,228 107,228
Dividends per share (Unadj.) Rs 1.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for NARAYANA HRUDAYALAYA

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 0.9x during FY21, from 1.0x 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 deteriorated and stood at 0.4x during FY21, from 2.8x 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 declined and down at -0.7% during FY21, from 10.8% 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 declined and down at 2.0% during FY21, from 14.8% 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 declined and down at 2.7% during FY21, from 7.5% 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 1.0 0.9
Debtors’ Days Days 31 39
Interest coverage x 2.8 0.4
Debt to equity ratio x 0.5 0.5
Return on assets % 7.5 2.7
Return on equity % 10.8 -0.7
Return on capital employed % 14.8 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how NARAYANA HRUDAYALAYA has performed over the last 5 years, please visit here.

NARAYANA HRUDAYALAYA Share Price Performance

Over the last one year, NARAYANA HRUDAYALAYA share price has moved up from Rs 336.5 to Rs 524.7, registering a gain of Rs 188.3 or around 56.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 26,047.0 (down 0.7%). Over the last one year it has moved up from 19,742.7 to 26,047.0, a gain of 6,304 points (up 31.9%).

Overall, the S&P BSE SENSEX is up 52.0% over the year.

(To know more, check out historical annual results for NARAYANA HRUDAYALAYA and quarterly results for NARAYANA HRUDAYALAYA)

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Related Views on News

NARAYANA HRUDAYALAYA Announces Quarterly Results (1QFY22); Net Profit Up 165.4% (Quarterly Result Update)

Aug 9, 2021 | Updated on Aug 9, 2021

For the quarter ended June 2021, NARAYANA HRUDAYALAYA has posted a net profit of Rs 777 m (up 165.4% YoY). Sales on the other hand came in at Rs 9 bn (up 118.5% YoY). Read on for a complete analysis of NARAYANA HRUDAYALAYA's quarterly results.

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