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TTK HEALTHCARE 2018-19 Annual Report Analysis
Sun, 31 Mar

TTK HEALTHCARE 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.

TTK HEALTHCARE Income Statement Analysis

  • Operating income during the year rose 8.7% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 16.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 7.9% in FY19 as against 7.4% in FY18.
  • Depreciation charges decreased by 3.8% and finance costs decreased by 28.5% YoY, respectively.
  • Other income grew by 2.4% YoY.
  • Net profit for the year grew by 34.2% YoY.
  • Net profit margins during the year grew from 3.1% in FY18 to 3.9% in FY19.

TTK HEALTHCARE Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 5,775 6,279 8.7%
Other income Rs m 76 78 2.4%
Total Revenues Rs m 5,851 6,356 8.6%
Gross profit Rs m 425 496 16.5%
Depreciation Rs m 152 147 -3.8%
Interest Rs m 47 34 -28.5%
Profit before tax Rs m 301 393 30.2%
Tax Rs m 120 149 24.2%
Profit after tax Rs m 182 244 34.2%
Gross profit margin % 7.4 7.9
Effective tax rate % 39.7 37.9
Net profit margin % 3.1 3.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



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

TTK HEALTHCARE Balance Sheet Analysis

  • The company's current liabilities during FY19 down at Rs 2 billion as compared to Rs 2 billion in FY18, thereby witnessing an decrease of -6.2%.
  • Long-term debt down at Rs 3 million as compared to Rs 7 million during FY18, a fall of 49.3%.
  • Current assets rose 6% and stood at Rs 3 billion, while fixed assets fell 5% and stood at Rs 1 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 4 billion as against Rs 4 billion during FY18, thereby witnessing a growth of 2%.

TTK HEALTHCARE Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 2,330 2,514 7.9
 
Current Liabilities Rs m 1,675 1,571 -6.2
Long-term Debt Rs m 7 3 -49.3
Total Liabilities Rs m 4,027 4,109 2.0
 
Current assets Rs m 2,556 2,717 6.3
Fixed Assets Rs m 1,471 1,392 -5.4
Total Assets Rs m 4,027 4,109 2.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



TTK HEALTHCARE Cash Flow Statement Analysis

  • TTK HEALTHCARE's cash flow from operating activities (CFO) during FY19 stood at Rs 173 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs 97 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -307 million on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -38 million from the Rs -41 million net cash flows seen during FY18.

TTK HEALTHCARE 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 253 173 -31.6%
Cash Flow from Investing Activities Rs m -226 97 -
Cash Flow from Financing Activities Rs m -72 -307 -
Net Cash Flow Rs m -41 -38 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for TTK HEALTHCARE

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 17.2, 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 678.7, stands at 39.3 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 3.8 times, while the price to sales ratio stands at 1.5 times.
  • The company's price to cash flow (P/CF) ratio stood at 33.0 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 408.7 444.4
TTM Earnings per share Rs 12.9 17.2
Diluted earnings per share Rs 12.9 17.2
Price to Cash Flow x 44.5 33.0
TTM P/E ratio x 62.9 39.3
Price / Book Value ratio x 6.5 5.1
Market Cap Rs m 15,138 12,895
Dividends per share (Unadj.) Rs 5.0 5.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for TTK HEALTHCARE

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.7x during FY19, from 1.5x 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 improved and stood at 12.6x during FY19, from 7.4x 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 improved and stood at 9.7% during FY19, from 7.8% 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 improved and stood at 16.9% during FY19, from 14.9% 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 improved and stood at 6.8% during FY19, from 5.7% 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 1.5 1.7
Debtors’ Days Days 350 466
Interest coverage x 7.4 12.6
Debt to equity ratio x 0.0 0.0
Return on assets % 5.7 6.8
Return on equity % 7.8 9.7
Return on capital employed % 14.9 16.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how TTK HEALTHCARE has performed over the last 5 years, please visit here.

TTK HEALTHCARE Share Price Performance

Over the last one year, TTK HEALTHCARE share price has moved down from Rs 1,052.3 to Rs 678.7, registering a loss of Rs 373.7 or around 35.5%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,407.9 (up 1.4%). Over the last one year it has moved up from 13,157.6 to 14,407.9, a gain of 1,250 points (up 9.5%).

Overall, the S&P BSE SENSEX is up 16.3% over the year.

(To know more, check out historical annual results for TTK HEALTHCARE and quarterly results for TTK HEALTHCARE)

Annual Report FAQs

What is the current share price of TTK HEALTHCARE?

TTK HEALTHCARE currently trades at Rs 1,483.1 per share. You can check out the latest share price performance of TTK HEALTHCARE here...

What was the revenue of TTK HEALTHCARE in FY19? How does it compare to earlier years?

The revenues of TTK HEALTHCARE stood at Rs 6,356 m in FY19, which was up 8.6% compared to Rs 5,851 m reported in FY18.

TTK HEALTHCARE's revenue has grown from Rs 4,893 m in FY15 to Rs 6,356 m in FY19.

Over the past 5 years, the revenue of TTK HEALTHCARE has grown at a CAGR of 6.8%.

What was the net profit of TTK HEALTHCARE in FY19? How does it compare to earlier years?

The net profit of TTK HEALTHCARE stood at Rs 244 m in FY19, which was up 34.2% compared to Rs 182 m reported in FY18.

This compares to a net profit of Rs 187 m in FY17 and a net profit of Rs 227 m in FY16.

Over the past 5 years, TTK HEALTHCARE net profit has grown at a CAGR of 10.8%.

What does the cash flow statement of TTK HEALTHCARE 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 TTK HEALTHCARE reveals:

  • Cash flow from operations decreased in FY19 and stood at Rs 173 m as compared to Rs 253 m in FY18.
  • Cash flow from investments increased in FY19 and stood at Rs 97 m as compared to Rs -226 m in FY18.
  • Cash flow from financial activity decreased in FY19 and stood at Rs -307 m as compared to Rs -72 m in FY18.

Here's the cash flow statement of TTK HEALTHCARE for the past 5 years.

(Rs m)FY15FY16FY17FY18FY19
From Operations394374178253173
From Investments-491-26753-22697
From Financial Activity29-108-229-72-307
Net Cashflow-68-21-41-38

What does the Key Ratio analysis of TTK HEALTHCARE 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 TTK HEALTHCARE reveals:

  • Operating profit margins witnessed a fall and down at 7.9% in FY19 as against 7.4% in FY18.
  • Net profit margins grew from 3.1% in FY18 to 3.9% in FY19.
  • Debt to Equity ratio for FY19 stood at 0.0 as compared to 0.0 in FY18.

Here's the ratio/financial analysis of TTK HEALTHCARE for the past 5 years.

 FY15FY16FY17FY18FY19
Operating Profit Margin (%)6.17.87.37.47.9
Net Profit Margin (%)3.34.43.63.13.9
Debt to Equity Ratio (x)0.10.00.00.00.0

Read: Latest Annual Report Analysis of TTK HEALTHCARE

 

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