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VENUS REMEDIES 2017-18 Annual Report Analysis
Sat, 31 Mar

VENUS REMEDIES has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

VENUS REMEDIES Income Statement Analysis

  • Operating income during the year fell 6.9% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 22.2% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 10.6% in FY18 as against 12.7% in FY17.
  • Depreciation charges decreased by 16.0% and finance costs decreased by 2.2% YoY, respectively.
  • Other income declined by 44.1% YoY.
  • Net profit for the year grew by 79.7% YoY.
  • Net profit margins during the year declined from 4.3% in FY17 to 8.2% in FY18.

VENUS REMEDIES Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 4,000 3,724 -6.9%
Other income Rs m 43 24 -44.1%
Total Revenues Rs m 4,043 3,748 -7.3%
Gross profit Rs m 507 395 -22.2%
Depreciation Rs m 403 338 -16.0%
Interest Rs m 364 356 -2.2%
Profit before tax Rs m -216 -275 27.2%
Tax Rs m -46 32 -169.3%
Profit after tax Rs m -171 -307 79.7%
Gross profit margin % 12.7 10.6
Effective tax rate % 21.1 -11.5
Net profit margin % -4.3 -8.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



New Research: 2 stocks to buy as Nifty50 heads towards 40,000

VENUS REMEDIES Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 2 billion as compared to Rs 2 billion in FY17, thereby witnessing an increase of 17.1%.
  • Long-term debt down at Rs 1 billion as compared to Rs 2 billion during FY17, a fall of 15.1%.
  • Current assets rose 0% and stood at Rs 3 billion, while fixed assets fell 3% and stood at Rs 5 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 8 billion as against Rs 8 billion during FY17, thereby witnessing a fall of 2%.

VENUS REMEDIES Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 3,887 3,619 -6.9
 
Current Liabilities Rs m 1,968 2,304 17.1
Long-term Debt Rs m 1,618 1,374 -15.1
Total Liabilities Rs m 7,650 7,508 -1.9
 
Current assets Rs m 2,594 2,603 0.3
Fixed Assets Rs m 5,056 4,905 -3.0
Total Assets Rs m 7,650 7,508 -1.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



VENUS REMEDIES Cash Flow Statement Analysis

  • VENUS REMEDIES's cash flow from operating activities (CFO) during FY18 stood at Rs 312 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs -115 million on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -392 million, an improvement of 11% on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -195 million from the Rs -35 million net cash flows seen during FY17.

VENUS REMEDIES Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 589 312 -47.1%
Cash Flow from Investing Activities Rs m -183 -115 -
Cash Flow from Financing Activities Rs m -441 -392 -
Net Cash Flow Rs m -35 -195 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for VENUS REMEDIES

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs -24.9, an decline from the EPS of Rs -13.8 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 65.7, stands at -12.5 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.2 times, while the price to sales ratio stands at 0.2 times.
  • The company's price to cash flow (P/CF) ratio stood at 36.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 324.2 301.8
TTM Earnings per share Rs -13.8 -24.9
Diluted earnings per share Rs -12.8 -23.0
Price to Cash Flow x 5.7 36.7
TTM P/E ratio x 27.6 -12.5
Price / Book Value ratio x 0.3 0.3
Market Cap Rs m 1,282 1,154
Dividends per share (Unadj.) Rs 0.0 0.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for VENUS REMEDIES

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.1x during FY18, from 1.3x during FY17. 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 0.2x during FY18, from 0.4x during FY17. 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 -8.5% during FY18, from -4.4% during FY18. 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 1.6% during FY18, from 2.7% during FY17. 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 0.6% during FY18, from 2.5% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 1.3 1.1
Debtors’ Days Days 431 463
Interest coverage x 0.4 0.2
Debt to equity ratio x 0.4 0.4
Return on assets % 2.5 0.6
Return on equity % -4.4 -8.5
Return on capital employed % 2.7 1.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how VENUS REMEDIES has performed over the last 5 years, please visit here.

VENUS REMEDIES Share Price Performance

Over the last one year, VENUS REMEDIES share price has moved down from Rs 98.1 to Rs 65.7, registering a loss of Rs 32.4 or around 33.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,157.6 (down 1.1%). Over the last one year it has moved down from 15,312.4 to 13,157.6, a loss of 2,155 points (down 14.1%).

Overall, the S&P BSE SENSEX is up 12.1% over the year.

(To know more, check out historical annual results for VENUS REMEDIES and quarterly results for VENUS REMEDIES)

Annual Report FAQs

What is the current share price of VENUS REMEDIES?

VENUS REMEDIES currently trades at Rs 326.4 per share. You can check out the latest share price performance of VENUS REMEDIES here...

What was the revenue of VENUS REMEDIES in FY18? How does it compare to earlier years?

The revenues of VENUS REMEDIES stood at Rs 3,748 m in FY18, which was down -7.3% compared to Rs 4,043 m reported in FY17.

VENUS REMEDIES' revenue has fallen from Rs 4,203 m in FY16 to Rs 3,748 m in FY18.

Over the past 3 years, the revenue of VENUS REMEDIES has grown at a CAGR of -5.6%.

What was the net profit of VENUS REMEDIES in FY18? How does it compare to earlier years?

The net loss of VENUS REMEDIES stood at Rs -307 m in FY18, which was up 79.7% compared to Rs -171 m reported in FY17.

This compares to a net profit of Rs 17 m in FY16.

Over the past 3 years, VENUS REMEDIES net profit has grown at a CAGR of NaN%.

What does the cash flow statement of VENUS REMEDIES 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 VENUS REMEDIES reveals:

  • Cash flow from operations decreased in FY18 and stood at Rs 312 m as compared to Rs 589 m in FY17.
  • Cash flow from investments increased in FY18 and stood at Rs -115 m as compared to Rs -183 m in FY17.
  • Cash flow from financial activity increased in FY18 and stood at Rs -392 m as compared to Rs -441 m in FY17.

Here's the cash flow statement of VENUS REMEDIES for the past 3 years.

(Rs m)FY16FY17FY18
From Operations469589312
From Investments29-183-115
From Financial Activity-464-441-392
Net Cashflow35-35-195

What does the Key Ratio analysis of VENUS REMEDIES 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 VENUS REMEDIES reveals:

  • Operating profit margins witnessed a fall and stood at 10.6% in FY18 as against 12.7% in FY17.
  • Net profit margins declined from 4.3% in FY17 to 8.2% in FY18.
  • Debt to Equity ratio for FY18 stood at 0.4 as compared to 0.4 in FY17.

Here's the ratio/financial analysis of VENUS REMEDIES for the past 3 years.

 FY16FY17FY18
Operating Profit Margin (%)19.412.710.6
Net Profit Margin (%)0.4-4.3-8.2
Debt to Equity Ratio (x)0.40.40.4

Read: Latest Annual Report Analysis of VENUS REMEDIES

 

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