SUVEN LIFESCIENCES 2018-19 Annual Report Analysis

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SUVEN LIFESCIENCES 2018-19 Annual Report Analysis
Mon, 22 Jul

SUVEN LIFESCIENCES has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

SUVEN LIFESCIENCES Income Statement Analysis

  • Operating income during the year rose 6.1% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 19.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 24.2% in FY19 as against 31.7% in FY18.
  • Depreciation charges increased by 3.9% and finance costs decreased by 18.6% YoY, respectively.
  • Other income grew by 4.1% YoY.
  • Net profit for the year declined by 29.7% YoY.
  • Net profit margins during the year declined from 19.1% in FY18 to 12.6% in FY19.

SUVEN LIFESCIENCES Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 6,253 6,635 6.1%
Other income Rs m 233 242 4.1%
Total Revenues Rs m 6,485 6,877 6.0%
Gross profit Rs m 1,982 1,604 -19.1%
Depreciation Rs m 213 221 3.9%
Interest Rs m 46 38 -18.6%
Profit before tax Rs m 1,955 1,587 -18.8%
Tax Rs m 718 718 0.0%
Profit after tax Rs m 1,237 869 -29.7%
Gross profit margin % 31.7 24.2
Effective tax rate % 36.7 45.2
Net profit margin % 19.1 12.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



SUVEN LIFESCIENCES Balance Sheet Analysis

  • The company's current liabilities during FY19 stood at Rs 1 billion as compared to Rs 1 billion in FY18, thereby witnessing an increase of 22.6%.
  • Long-term debt down at Rs 18 million as compared to Rs 22 million during FY18, a fall of 19.8%.
  • Current assets rose 9% and stood at Rs 6 billion, while fixed assets rose 22% and stood at Rs 4 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 10 billion as against Rs 9 billion during FY18, thereby witnessing a growth of 13%.

SUVEN LIFESCIENCES Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 7,674 8,310 8.3
 
Current Liabilities Rs m 1,216 1,490 22.6
Long-term Debt Rs m 22 18 -19.8
Total Liabilities Rs m 9,192 10,389 13.0
 
Current assets Rs m 5,696 6,232 9.4
Fixed Assets Rs m 3,325 4,043 21.6
Total Assets Rs m 9,192 10,389 13.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



SUVEN LIFESCIENCES Cash Flow Statement Analysis

  • SUVEN LIFESCIENCES's cash flow from operating activities (CFO) during FY19 stood at Rs 356 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -279 million, an improvement of 4,467.2% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -225 million, an improvement of 57% on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -148 million from the Rs 173 million net cash flows seen during FY18.

SUVEN LIFESCIENCES Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 699 356 -49.2%
Cash Flow from Investing Activities Rs m -6 -279 -
Cash Flow from Financing Activities Rs m -521 -225 -
Net Cash Flow Rs m 173 -148 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for SUVEN LIFESCIENCES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 6.8, an decline from the EPS of Rs 9.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 239.9, stands at 18.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.9 times, while the price to sales ratio stands at 4.9 times.
  • The company's price to cash flow (P/CF) ratio stood at 25.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 49.1 52.1
TTM Earnings per share Rs 9.7 6.8
Diluted earnings per share Rs 10.6 7.4
Price to Cash Flow x 21.1 25.7
TTM P/E ratio x 20.3 18.7
Price / Book Value ratio x 3.4 3.9
Market Cap Rs m 30,534 28,028
Dividends per share (Unadj.) Rs 1.5 1.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for SUVEN LIFESCIENCES

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 4.2x during FY19, from 4.7x during FY18. 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 43.1x during FY19, from 43.2x during FY18. 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 10.5% during FY19, from 16.1% during FY19. 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 19.5% during FY19, from 26.0% during FY18. 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 8.7% during FY19, from 14.0% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 4.7 4.2
Debtors’ Days Days 36 83
Interest coverage x 43.2 43.1
Debt to equity ratio x 0.0 0.0
Return on assets % 14.0 8.7
Return on equity % 16.1 10.5
Return on capital employed % 26.0 19.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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

SUVEN LIFESCIENCES Share Price Performance

Over the last one year, SUVEN LIFESCIENCES share price has moved up from Rs 223.8 to Rs 239.9, registering a gain of Rs 16.2 or around 7.2%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 12,822.0 (up 0.4%). Over the last one year it has moved down from 13,661.3 to 12,822.0, a loss of 839 points (down 6.1%).

Overall, the S&P BSE SENSEX is up 4.6% over the year.

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

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