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ZOTA HEALTH CARE 2022-23 Annual Report Analysis

Mon, 19 Feb

ZOTA HEALTH CARE has announced its results for the year ended March 2023. Let us have a look at the detailed performance review of the company during FY22-23.

ZOTA HEALTH CARE Income Statement Analysis

• Operating income during the year rose 6.7% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 50.1% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 5.2% in FY23 as against 11.0% in FY22.
• Depreciation charges increased by 225.7% and finance costs increased by 698.8% YoY, respectively.
• Other income grew by 31.9% YoY.
• Net profit for the year declined by NA YoY.
• Net profit margins during the year declined from 6.8% in FY22 to 4.1% in FY23.

ZOTA HEALTH CARE Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	1,311	1,399	6.7%
Other income	Rs m	20	26	31.9%
Total Revenues	Rs m	1,331	1,425	7.0%
Gross profit	Rs m	144	72	-50.1%
Depreciation	Rs m	37	120	225.7%
Interest	Rs m	3	26	698.8%
Profit before tax	Rs m	124	-47	NA
Tax	Rs m	35	11	-69.3%
Profit after tax	Rs m	89	-58	NA
Gross profit margin	%	11.0	5.2
Effective tax rate	%	28.4	-23.1
Net profit margin	%	6.8	-4.1

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ZOTA HEALTH CARE Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 405 million as compared to Rs 360 million in FY22, thereby witnessing an increase of 12.7%.
• Current assets rose 9% and stood at Rs 842 million, while fixed assets rose 17% and stood at Rs 728 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 2 billion as against Rs 1 billion during FY22, thereby witnessing a growth of 13%.

ZOTA HEALTH CARE Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	896	804	-10.3
Current Liabilities	Rs m	360	405	12.7
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	1,389	1,570	13.0
Current assets	Rs m	769	842	9.4
Fixed Assets	Rs m	620	728	17.4
Total Assets	Rs m	1,389	1,570	13.0

ZOTA HEALTH CARE Cash Flow Statement Analysis

• ZOTA HEALTH CARE's cash flow from operating activities (CFO) during FY23 stood at Rs -20 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 147 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs -139 million on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -12 million from the Rs 10 million net cash flows seen during FY22.

ZOTA HEALTH CARE Cash Flow Statement 2022-23

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-22	Mar-23
Cash Flow from Operating Activities	Rs m	133	-20	-
Cash Flow from Investing Activities	Rs m	-267	147	-
Cash Flow from Financing Activities	Rs m	143	-139	-
Net Cash Flow	Rs m	10	-12	-

Current Valuations for ZOTA HEALTH CARE

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -2.3, an decline from the EPS of Rs 3.5 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 0.0, stands at 0.0 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.0 times, while the price to sales ratio stands at 0.0 times.
• The company's price to cash flow (P/CF) ratio stood at 122.6 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Sales per share (Unadj.)	Rs	52.1	55.6
TTM Earnings per share	Rs	3.5	-2.3
Diluted earnings per share	Rs	3.4	-2.2
Price to Cash Flow	x	0.0	122.6
TTM P/E ratio	x	0.0	0.0
Price / Book Value ratio	x	8.2	9.4
Market Cap	Rs m	7,385	7,581
Dividends per share (Unadj.)	Rs	1.5	1.0

Ratio Analysis for ZOTA HEALTH CARE

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 2.1x during FY23, from 2.1x during FY22. 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 -0.8x during FY23, from 39.7x during FY22. 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 -7.2% during FY23, from 9.9% during FY23. 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 -2.6% during FY23, from 14.2% during FY22. 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 -2.0% during FY23, from 6.6% during FY22. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Current ratio	x	2.1	2.1
Debtors’ Days	Days	1,012	726
Interest coverage	x	39.7	-0.8
Debt to equity ratio	x	0.0	0.0
Return on assets	%	6.6	-2.0
Return on equity	%	9.9	-7.2
Return on capital employed	%	14.2	-2.6

To see how ZOTA HEALTH CARE has performed over the last 5 years, please visit here.

ZOTA HEALTH CARE Share Price Performance

Over the last one year, ZOTA HEALTH CARE share price has moved down from Rs 297.6 to Rs 0.0, registering a loss of Rs 297.6 or around 100.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 21,883.5 (up 0.4%). Over the last one year it has moved down from 24,303.8 to 21,883.5, a loss of 2,420 points (down 10.0%).

Overall, the NIFTY 50 is up 0.2% over the year.

(To know more, check out historical annual results for ZOTA HEALTH CARE and quarterly results for ZOTA HEALTH CARE)