ROSSARI BIOTECH 2020-21 Annual Report Analysis

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ROSSARI BIOTECH 2020-21 Annual Report Analysis
Mon, 25 Oct

ROSSARI BIOTECH 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.

ROSSARI BIOTECH Income Statement Analysis

  • Operating income during the year rose 18.2% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 17.5% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 17.3% in FY21 as against 17.5% in FY20.
  • Depreciation charges increased by 35.5% and finance costs decreased by 15.9% YoY, respectively.
  • Other income grew by 146.8% YoY.
  • Net profit for the year grew by 21.6% YoY.
  • Net profit margins during the year grew from 10.8% in FY20 to 11.1% in FY21.

ROSSARI BIOTECH Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 6,001 7,093 18.2%
Other income Rs m 37 92 146.8%
Total Revenues Rs m 6,038 7,185 19.0%
Gross profit Rs m 1,047 1,231 17.5%
Depreciation Rs m 169 228 35.5%
Interest Rs m 36 30 -15.9%
Profit before tax Rs m 881 1,064 20.9%
Tax Rs m 226 268 18.6%
Profit after tax Rs m 655 796 21.6%
Gross profit margin % 17.5 17.3
Effective tax rate % 25.7 25.2
Net profit margin % 10.8 11.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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ROSSARI BIOTECH Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 2 billion as compared to Rs 2 billion in FY20, thereby witnessing an increase of 4.8%.
  • Current assets rose 10% and stood at Rs 4 billion, while fixed assets rose 48% and stood at Rs 3 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 6 billion as against Rs 5 billion during FY20, thereby witnessing a growth of 23%.

ROSSARI BIOTECH Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 2,862 4,067 42.1
 
Current Liabilities Rs m 1,689 1,769 4.8
Long-term Debt Rs m 340 0 -100.0
Total Liabilities Rs m 5,245 6,448 22.9
 
Current assets Rs m 3,465 3,814 10.1
Fixed Assets Rs m 1,781 2,633 47.9
Total Assets Rs m 5,245 6,448 22.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



ROSSARI BIOTECH Cash Flow Statement Analysis

  • ROSSARI BIOTECH's cash flow from operating activities (CFO) during FY21 stood at Rs 478 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -372 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -246 million on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -140 million from the Rs 235 million net cash flows seen during FY20.

ROSSARI BIOTECH 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 568 478 -15.9%
Cash Flow from Investing Activities Rs m -1,903 -372 -
Cash Flow from Financing Activities Rs m 1,569 -246 -
Net Cash Flow Rs m 235 -140 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for ROSSARI BIOTECH

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 15.3, an improvement from the EPS of Rs 12.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 1,371.3, stands at 84.6 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 11.6 times, while the price to sales ratio stands at 6.6 times.
  • The company's price to cash flow (P/CF) ratio stood at 73.5 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 118.2 136.6
TTM Earnings per share Rs 12.9 15.3
Diluted earnings per share Rs 11.9 14.5
Price to Cash Flow x 84.5 73.5
TTM P/E ratio x 78.1 84.6
Price / Book Value ratio x 0.0 11.6
Market Cap Rs m 69,597 75,341
Dividends per share (Unadj.) Rs 0.5 0.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for ROSSARI BIOTECH

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.2x during FY21, from 2.1x 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 36.6x during FY21, from 25.8x 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 19.6% during FY21, from 22.9% 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 26.9% during FY21, from 28.6% 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 12.8% during FY21, from 13.2% 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 2.1 2.2
Debtors’ Days Days 57 74
Interest coverage x 25.8 36.6
Debt to equity ratio x 0.1 0.0
Return on assets % 13.2 12.8
Return on equity % 22.9 19.6
Return on capital employed % 28.6 26.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how ROSSARI BIOTECH has performed over the last 5 years, please visit here.

ROSSARI BIOTECH Share Price Performance

Over the last one year, ROSSARI BIOTECH share price has moved up from Rs 806.3 to Rs 1,371.3, registering a gain of Rs 565.1 or around 70.1%.

Overall, the S&P BSE SENSEX is up 49.8% over the year.

(To know more, check out historical annual results for ROSSARI BIOTECH and quarterly results for ROSSARI BIOTECH)

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