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ASTRAZENECA PHARMA 2023-24 Annual Report Analysis

Thu, 18 Jul

ASTRAZENECA PHARMA has announced its results for the year ended March 2024. Let us have a look at the detailed performance review of the company during FY23-24.

ASTRAZENECA PHARMA Income Statement Analysis

• Operating income during the year rose 29.2% on a year-on-year (YoY) basis.
• The company's operating profit increased by 60.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 15.5% in FY24 as against 12.5% in FY23.
• Depreciation charges decreased by 8.1% and finance costs increased by 90.5% YoY, respectively.
• Other income grew by 33.3% YoY.
• Net profit for the year grew by 62.7% YoY.
• Net profit margins during the year grew from 9.9% in FY23 to 12.5% in FY24.

ASTRAZENECA PHARMA Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	10,030	12,955	29.2%
Other income	Rs m	261	348	33.3%
Total Revenues	Rs m	10,291	13,303	29.3%
Gross profit	Rs m	1,249	2,009	60.8%
Depreciation	Rs m	163	149	-8.1%
Interest	Rs m	6	12	90.5%
Profit before tax	Rs m	1,341	2,195	63.7%
Tax	Rs m	348	580	66.7%
Profit after tax	Rs m	993	1,615	62.7%
Gross profit margin	%	12.5	15.5
Effective tax rate	%	26.0	26.4
Net profit margin	%	9.9	12.5

For Investors: Our Big Prediction

ASTRAZENECA PHARMA Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 5 billion as compared to Rs 5 billion in FY23, thereby witnessing an decrease of -3.6%.
• Current assets rose 11% and stood at Rs 10 billion, while fixed assets rose 14% and stood at Rs 2 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 13 billion as against Rs 11 billion during FY23, thereby witnessing a growth of 12%.

ASTRAZENECA PHARMA Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	5,861	7,086	20.9
Current Liabilities	Rs m	4,844	4,672	-3.6
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	11,421	12,769	11.8
Current assets	Rs m	9,359	10,427	11.4
Fixed Assets	Rs m	2,061	2,342	13.6
Total Assets	Rs m	11,421	12,769	11.8

ASTRAZENECA PHARMA Cash Flow Statement Analysis

• ASTRAZENECA PHARMA's cash flow from operating activities (CFO) during FY24 stood at Rs 279 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 217 million, an improvement of 20.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -444 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 52 million from the Rs 519 million net cash flows seen during FY23.

ASTRAZENECA PHARMA Cash Flow Statement 2023-24

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-23	Mar-24
Cash Flow from Operating Activities	Rs m	583	279	-52.2%
Cash Flow from Investing Activities	Rs m	181	217	20.0%
Cash Flow from Financing Activities	Rs m	-245	-444	-
Net Cash Flow	Rs m	519	52	-89.9%

Current Valuations for ASTRAZENECA PHARMA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 64.6, an improvement from the EPS of Rs 39.7 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 6,566.5, stands at 101.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 23.2 times, while the price to sales ratio stands at 12.7 times.
• The company's price to cash flow (P/CF) ratio stood at 73.0 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Sales per share (Unadj.)	Rs	401.2	518.2
TTM Earnings per share	Rs	39.7	64.6
Diluted earnings per share	Rs	39.7	64.6
Price to Cash Flow	x	70.3	73.0
TTM P/E ratio	x	81.8	101.6
Price / Book Value ratio	x	12.9	18.2
Market Cap	Rs m	75,718	128,875
Dividends per share (Unadj.)	Rs	16.0	24.0

Ratio Analysis for ASTRAZENECA PHARMA

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.2x during FY24, from 1.9x during FY23. 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 184.0x during FY24, from 213.9x during FY23. 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 22.8% during FY24, from 16.9% during FY24. 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 31.2% during FY24, from 23.0% during FY23. 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 12.7% during FY24, from 8.7% during FY23. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Current ratio	x	1.9	2.2
Debtors’ Days	Days	39	43
Interest coverage	x	213.9	184.0
Debt to equity ratio	x	0.0	0.0
Return on assets	%	8.7	12.7
Return on equity	%	16.9	22.8
Return on capital employed	%	23.0	31.2

To see how ASTRAZENECA PHARMA has performed over the last 5 years, please visit here.

ASTRAZENECA PHARMA Share Price Performance

Over the last one year, ASTRAZENECA PHARMA share price has moved up from Rs 3,779.3 to Rs 6,566.5, registering a gain of Rs 2,787.2 or around 73.7%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 38,755.3 (down 0.1%). Over the last one year it has moved up from 26,342.4 to 38,755.3, a gain of 12,413 points (up 47.1%).

Overall, the S&P BSE SENSEX is up 21.2% over the year.

(To know more, check out historical annual results for ASTRAZENECA PHARMA and quarterly results for ASTRAZENECA PHARMA)