SUVEN PHARMACEUTICALS 2020-21 Annual Report Analysis

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SUVEN PHARMACEUTICALS 2020-21 Annual Report Analysis
Mon, 6 Sep

SUVEN PHARMACEUTICALS 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.

SUVEN PHARMACEUTICALS Income Statement Analysis

  • Operating income during the year rose 21.1% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 15.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 43.9% in FY21 as against 46.1% in FY20.
  • Depreciation charges increased by 34.6% and finance costs decreased by 49.4% YoY, respectively.
  • Other income declined by 21.4% YoY.
  • Net profit for the year grew by 14.8% YoY.
  • Net profit margins during the year declined from 31.6% in FY20 to 30.1% in FY21.

SUVEN PHARMACEUTICALS Income Statement 2020-21

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Net Sales Rs m 8,338 10,097 21.1%
Other income Rs m 181 142 -21.4%
Total Revenues Rs m 8,519 10,240 20.2%
Gross profit Rs m 3,848 4,430 15.1%
Depreciation Rs m 235 316 34.6%
Interest Rs m 231 117 -49.4%
Profit before tax Rs m 3,563 4,139 16.2%
Tax Rs m 875 1,053 20.4%
Profit after tax Rs m 2,688 3,086 14.8%
Gross profit margin % 46.1 43.9
Effective tax rate % 24.6 25.4
Net profit margin % 31.6 30.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Revealing this Monday: A Potentially Life-Changing Opportunity

SUVEN PHARMACEUTICALS Balance Sheet Analysis

  • The company's current liabilities during FY21 stood at Rs 3 billion as compared to Rs 3 billion in FY20, thereby witnessing an increase of 0.5%.
  • Long-term debt down at Rs 356 million as compared to Rs 913 million during FY20, a fall of 61.0%.
  • Current assets rose 30% and stood at Rs 7 billion, while fixed assets rose 16% and stood at Rs 9 billion in FY21.
  • Overall, the total assets and liabilities for FY21 stood at Rs 16 billion as against Rs 13 billion during FY20, thereby witnessing a growth of 22%.

SUVEN PHARMACEUTICALS Balance Sheet as on March 2021

No. of Mths Year Ending 12 Mar-20* 12 Mar-21* % Change
Networth Rs m 8,448 11,808 39.8
 
Current Liabilities Rs m 3,198 3,215 0.5
Long-term Debt Rs m 913 356 -61.0
Total Liabilities Rs m 12,923 15,762 22.0
 
Current assets Rs m 5,111 6,665 30.4
Fixed Assets Rs m 7,812 9,097 16.5
Total Assets Rs m 12,923 15,762 22.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



SUVEN PHARMACEUTICALS Cash Flow Statement Analysis

  • SUVEN PHARMACEUTICALS's cash flow from operating activities (CFO) during FY21 stood at Rs 4 billion on a YoY basis.
  • Cash flow from investing activities (CFI) during FY21 stood at Rs -3 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY21 stood at Rs -766 million on a YoY basis.
  • Overall, net cash flows for the company during FY21 stood at Rs -45 million from the Rs 8 million net cash flows seen during FY20.

SUVEN PHARMACEUTICALS 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 4,069 3,834 -5.8%
Cash Flow from Investing Activities Rs m -4,134 -3,114 -
Cash Flow from Financing Activities Rs m 73 -766 -
Net Cash Flow Rs m 8 -45 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for SUVEN PHARMACEUTICALS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 12.1, an decline from the EPS of Rs 21.1 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 524.6, stands at 43.2 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 6.8 times, while the price to sales ratio stands at 7.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 39.2 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 65.5 39.7
TTM Earnings per share Rs 21.1 12.1
Diluted earnings per share Rs 10.6 12.1
Price to Cash Flow x 22.8 39.2
TTM P/E ratio x 21.6 43.2
Price / Book Value ratio x 4.0 6.8
Market Cap Rs m 66,772 133,545
Dividends per share (Unadj.) Rs 5.0 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for SUVEN PHARMACEUTICALS

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 2.1x during FY21, from 1.6x 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 36.5x during FY21, from 16.4x 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 26.1% during FY21, from 31.8% 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 35.0% during FY21, from 40.5% 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 20.3% during FY21, from 22.6% 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 1.6 2.1
Debtors’ Days Days 513 370
Interest coverage x 16.4 36.5
Debt to equity ratio x 0.1 0.0
Return on assets % 22.6 20.3
Return on equity % 31.8 26.1
Return on capital employed % 40.5 35.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how SUVEN PHARMACEUTICALS has performed over the last 5 years, please visit here.

SUVEN PHARMACEUTICALS Share Price Performance

Over the last one year, SUVEN PHARMACEUTICALS share price has moved up from Rs 332.0 to Rs 524.6, registering a gain of Rs 192.6 or around 58.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 26,760.0 (up 0.0%). Over the last one year it has moved up from 18,734.2 to 26,760.0, a gain of 8,026 points (up 42.8%).

Overall, the S&P BSE SENSEX is up 49.2% over the year.

(To know more, check out historical annual results for SUVEN PHARMACEUTICALS and quarterly results for SUVEN PHARMACEUTICALS)

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