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STRIDES PHARMA SCIENCE 2017-18 Annual Report Analysis
Sat, 31 Mar

STRIDES PHARMA SCIENCE 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.

STRIDES PHARMA SCIENCE Income Statement Analysis

  • Operating income during the year fell 12.6% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 60.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 5.7% in FY18 as against 12.6% in FY17.
  • Depreciation charges decreased by 2.4% and finance costs increased by 7.2% YoY, respectively.
  • Other income grew by 131.3% YoY.
  • Net profit for the year grew by 57.4% YoY.
  • Net profit margins during the year grew from 11.6% in FY17 to 21.0% in FY18.

STRIDES PHARMA SCIENCE Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 38,262 33,444 -12.6%
Other income Rs m 3,981 9,206 131.3%
Total Revenues Rs m 42,243 42,650 1.0%
Gross profit Rs m 4,805 1,921 -60.0%
Depreciation Rs m 1,987 1,939 -2.4%
Interest Rs m 1,831 1,962 7.2%
Profit before tax Rs m 4,968 7,226 45.5%
Tax Rs m 512 214 -58.2%
Profit after tax Rs m 4,456 7,012 57.4%
Gross profit margin % 12.6 5.7
Effective tax rate % 10.3 3.0
Net profit margin % 11.6 21.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Read Now: We're Bullish on 2 Non-Nifty Stocks

STRIDES PHARMA SCIENCE Balance Sheet Analysis

  • The company's current liabilities during FY18 down at Rs 19 billion as compared to Rs 31 billion in FY17, thereby witnessing an decrease of -38.8%.
  • Long-term debt down at Rs 16 billion as compared to Rs 16 billion during FY17, a fall of 5.3%.
  • Current assets fell 35% and stood at Rs 25 billion, while fixed assets fell 3% and stood at Rs 41 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 66 billion as against Rs 80 billion during FY17, thereby witnessing a fall of 18%.

STRIDES PHARMA SCIENCE Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 27,400 24,546 -10.4
 
Current Liabilities Rs m 31,039 18,993 -38.8
Long-term Debt Rs m 16,377 15,513 -5.3
Total Liabilities Rs m 80,349 65,849 -18.0
 
Current assets Rs m 37,918 24,836 -34.5
Fixed Assets Rs m 42,430 41,013 -3.3
Total Assets Rs m 80,349 65,849 -18.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



STRIDES PHARMA SCIENCE Cash Flow Statement Analysis

  • STRIDES PHARMA SCIENCE's cash flow from operating activities (CFO) during FY18 stood at Rs 2 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 6 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -10 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -3 billion from the Rs -6 billion net cash flows seen during FY17.

STRIDES PHARMA SCIENCE Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 2,881 1,871 -35.1%
Cash Flow from Investing Activities Rs m -6,867 5,826 -
Cash Flow from Financing Activities Rs m 3,382 -10,157 -
Net Cash Flow Rs m -5,957 -2,589 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for STRIDES PHARMA SCIENCE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 78.3, an improvement from the EPS of Rs 49.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 672.1, stands at 83.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 2.5 times, while the price to sales ratio stands at 1.8 times.
  • The company's price to cash flow (P/CF) ratio stood at 8.9 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 427.9 373.7
TTM Earnings per share Rs 49.8 78.3
Diluted earnings per share Rs 49.6 78.1
Price to Cash Flow x 15.3 8.9
TTM P/E ratio x 25.4 83.3
Price / Book Value ratio x 3.6 3.3
Market Cap Rs m 97,337 80,035
Dividends per share (Unadj.) Rs 4.5 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for STRIDES PHARMA SCIENCE

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.3x during FY18, from 1.2x 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 4.7x during FY18, from 3.7x 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 improved and stood at 28.6% during FY18, from 16.3% 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 22.9% 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 improved and stood at 13.6% during FY18, from 7.8% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 1.2 1.3
Debtors’ Days Days 95 96
Interest coverage x 3.7 4.7
Debt to equity ratio x 0.6 0.6
Return on assets % 7.8 13.6
Return on equity % 16.3 28.6
Return on capital employed % 15.5 22.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how STRIDES PHARMA SCIENCE has performed over the last 5 years, please visit here.

STRIDES PHARMA SCIENCE Share Price Performance

Over the last one year, STRIDES PHARMA SCIENCE share price has moved down from Rs 1,096.9 to Rs 672.1, registering a loss of Rs 424.8 or around 38.7%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,157.6 (down 1.1%). Over the last one year it has moved down from 15,312.4 to 13,157.6, a loss of 2,155 points (down 14.1%).

Overall, the S&P BSE SENSEX is up 12.1% over the year.

(To know more, check out historical annual results for STRIDES PHARMA SCIENCE and quarterly results for STRIDES PHARMA SCIENCE)

Annual Report FAQs

What is the current share price of STRIDES PHARMA SCIENCE?

STRIDES PHARMA SCIENCE currently trades at Rs 782.6 per share. You can check out the latest share price performance of STRIDES PHARMA SCIENCE here...

What was the revenue of STRIDES PHARMA SCIENCE in FY18? How does it compare to earlier years?

The revenues of STRIDES PHARMA SCIENCE stood at Rs 42,650 m in FY18, which was up 1.0% compared to Rs 42,243 m reported in FY17.

STRIDES PHARMA SCIENCE's revenue has grown from Rs 29,646 m in FY16 to Rs 42,650 m in FY18.

Over the past 3 years, the revenue of STRIDES PHARMA SCIENCE has grown at a CAGR of 19.9%.

What was the net profit of STRIDES PHARMA SCIENCE in FY18? How does it compare to earlier years?

The net profit of STRIDES PHARMA SCIENCE stood at Rs 7,012 m in FY18, which was up 57.4% compared to Rs 4,456 m reported in FY17.

This compares to a net profit of Rs 997 m in FY16.

Over the past 3 years, STRIDES PHARMA SCIENCE net profit has grown at a CAGR of 165.2%.

What does the cash flow statement of STRIDES PHARMA SCIENCE 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 STRIDES PHARMA SCIENCE reveals:

  • Cash flow from operations decreased in FY18 and stood at Rs 1,871 m as compared to Rs 2,881 m in FY17.
  • Cash flow from investments increased in FY18 and stood at Rs 5,826 m as compared to Rs -6,867 m in FY17.
  • Cash flow from financial activity decreased in FY18 and stood at Rs -10,157 m as compared to Rs 3,382 m in FY17.

Here's the cash flow statement of STRIDES PHARMA SCIENCE for the past 3 years.

(Rs m)FY16FY17FY18
From Operations7322,8811,871
From Investments-22,248-6,8675,826
From Financial Activity29,4393,382-10,157
Net Cashflow8,118-5,957-2,589

What does the Key Ratio analysis of STRIDES PHARMA SCIENCE 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 STRIDES PHARMA SCIENCE reveals:

  • Operating profit margins witnessed a fall and stood at 5.7% in FY18 as against 12.6% in FY17.
  • Net profit margins grew from 11.6% in FY17 to 21.0% in FY18.
  • Debt to Equity ratio for FY18 stood at 0.6 as compared to 0.6 in FY17.

Here's the ratio/financial analysis of STRIDES PHARMA SCIENCE for the past 3 years.

 FY16FY17FY18
Operating Profit Margin (%)11.912.65.7
Net Profit Margin (%)3.511.621.0
Debt to Equity Ratio (x)1.00.60.6

Read: Latest Annual Report Analysis of STRIDES PHARMA SCIENCE

 

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