TTK HEALTHCARE 2018-19 Annual Report Analysis

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TTK HEALTHCARE 2018-19 Annual Report Analysis
Thu, 18 Jul

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 3.7% and finance costs decreased by 28.5% YoY, respectively.
  • Other income grew by 2.4% YoY.
  • Net profit for the year grew by 34.1% YoY.
  • Net profit margins during the year grew from 3.1% in FY18 to 3.8% in FY19.

TTK HEALTHCARE Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 5,776 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 426 496 16.5%
Depreciation Rs m 152 147 -3.7%
Interest Rs m 47 34 -28.5%
Profit before tax Rs m 302 393 30.2%
Tax Rs m 120 149 24.3%
Profit after tax Rs m 182 244 34.1%
Gross profit margin % 7.4 7.9
Effective tax rate % 39.7 37.9
Net profit margin % 3.1 3.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



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 48.5%.
  • Current assets rose 6% and stood at Rs 3 billion, while fixed assets fell 10% and stood at Rs 991 million 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 -48.5
Total Liabilities Rs m 4,073 4,158 2.1
 
Current assets Rs m 2,556 2,717 6.3
Fixed Assets Rs m 1,103 991 -10.2
Total Assets Rs m 4,073 4,158 2.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, 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: Company Reports, Regulatory Filings, 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 555.0, stands at 17.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 5.1 times, while the price to sales ratio stands at 2.1 times.
  • The company's price to cash flow (P/CF) ratio stood at 11.0 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 23.4 31.4
Price to Cash Flow x 23.5 11.0
TTM P/E ratio x 32.2 17.7
Price / Book Value ratio x 6.8 5.1
Market Cap Rs m 7,842 4,312
Dividends per share (Unadj.) Rs 5.0 5.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, 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 6.7% during FY19, from 5.6% 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 35 47
Interest coverage x 7.4 12.6
Debt to equity ratio x 0.0 0.0
Return on assets % 5.6 6.7
Return on equity % 7.8 9.7
Return on capital employed % 14.9 16.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, 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 761.7 to Rs 555.0, registering a loss of Rs 206.7 or around 27.1%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,057.7 (down 0.7%). Over the last one year it has moved down from 13,689.2 to 13,057.7, a loss of 631 points (down 4.6%).

Overall, the S&P BSE SENSEX is up 7.2% over the year.

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

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TTK HEALTHCARE Announces Quarterly Results (3QFY20); Net Profit Down 8.3% (Quarterly Result Update)

Jan 30, 2020 | Updated on Jan 30, 2020

For the quarter ended December 2019, TTK HEALTHCARE has posted a net profit of Rs 45 m (down 8.3% YoY). Sales on the other hand came in at Rs 2 bn (up 11.2% YoY). Read on for a complete analysis of TTK HEALTHCARE's quarterly results.

TTK HEALTHCARE Announces Quarterly Results (1QFY20); Net Profit Down 53.8% (Quarterly Result Update)

Aug 13, 2019 | Updated on Aug 13, 2019

For the quarter ended June 2019, TTK HEALTHCARE has posted a net profit of Rs 36 m (down 53.8% YoY). Sales on the other hand came in at Rs 2 bn (up 3.2% YoY). Read on for a complete analysis of TTK HEALTHCARE's quarterly results.

TTK HEALTHCARE 2017-18 Annual Report Analysis (Annual Result Update)

Mar 27, 2019 | Updated on Mar 27, 2019

Here's an analysis of the annual report of TTK HEALTHCARE for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of TTK HEALTHCARE. Also includes updates on the valuation of TTK HEALTHCARE.

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