DISHMAN CARBOGEN AMCIS 2023-24 Annual Report Analysis

Thu, 26 Sep

DISHMAN CARBOGEN AMCIS 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.

DISHMAN CARBOGEN AMCIS Income Statement Analysis

• Operating income during the year rose 8.4% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 9.2% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 9.9% in FY24 as against 11.8% in FY23.
• Depreciation charges increased by 10.7% and finance costs increased by 40.0% YoY, respectively.
• Other income grew by 82.9% YoY.
• Net profit for the year grew by NA YoY.
• Net profit margins during the year declined from 1.2% in FY23 to 5.9% in FY24.

DISHMAN CARBOGEN AMCIS Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	24,129	26,158	8.4%
Other income	Rs m	278	508	82.9%
Total Revenues	Rs m	24,407	26,666	9.3%
Gross profit	Rs m	2,841	2,578	-9.2%
Depreciation	Rs m	2,807	3,109	10.7%
Interest	Rs m	857	1,200	40.0%
Profit before tax	Rs m	-546	-1,223	NA
Tax	Rs m	-248	312	NA
Profit after tax	Rs m	-298	-1,535	NA
Gross profit margin	%	11.8	9.9
Effective tax rate	%	45.4	-25.5
Net profit margin	%	-1.2	-5.9

Don't Miss: Key Information for Long-term Investors

DISHMAN CARBOGEN AMCIS Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 26 billion as compared to Rs 18 billion in FY23, thereby witnessing an increase of 42.1%.
• Long-term debt down at Rs 2 billion as compared to Rs 10 billion during FY23, a fall of 76.5%.
• Current assets rose 1% and stood at Rs 19 billion, while fixed assets rose 2% and stood at Rs 76 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 96 billion as against Rs 94 billion during FY23, thereby witnessing a growth of 1%.

DISHMAN CARBOGEN AMCIS Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	58,097	56,275	-3.1
Current Liabilities	Rs m	17,984	25,547	42.1
Long-term Debt	Rs m	10,467	2,456	-76.5
Total Liabilities	Rs m	94,395	95,706	1.4
Current assets	Rs m	19,184	19,282	0.5
Fixed Assets	Rs m	75,211	76,424	1.6
Total Assets	Rs m	94,395	95,706	1.4

DISHMAN CARBOGEN AMCIS Cash Flow Statement Analysis

• DISHMAN CARBOGEN AMCIS's cash flow from operating activities (CFO) during FY24 stood at Rs 4 billion, an improvement of 44.4% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -2 billion on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -222 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 1 billion from the Rs 216 million net cash flows seen during FY23.

DISHMAN CARBOGEN AMCIS 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	2,660	3,840	44.4%
Cash Flow from Investing Activities	Rs m	-4,941	-2,295	-
Cash Flow from Financing Activities	Rs m	2,497	-222	-
Net Cash Flow	Rs m	216	1,323	513.9%

Current Valuations for DISHMAN CARBOGEN AMCIS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs -9.8, an decline from the EPS of Rs -1.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 184.3, stands at -11.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 0.5 times, while the price to sales ratio stands at 1.1 times.
• The company's price to cash flow (P/CF) ratio stood at 19.7 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	153.9	166.8
TTM Earnings per share	Rs	-1.9	-9.8
Diluted earnings per share	Rs	-1.9	-9.8
Price to Cash Flow	x	7.8	19.7
TTM P/E ratio	x	-65.6	-11.7
Price / Book Value ratio	x	0.4	0.6
Market Cap	Rs m	22,059	31,059
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for DISHMAN CARBOGEN AMCIS

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 0.8x during FY24, from 1.1x 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 0.0x during FY24, from 0.4x 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 declined and down at -2.7% during FY24, from -0.5% 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 declined and down at 0.0% during FY24, from 0.5% 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 declined and down at -0.3% during FY24, from 0.6% 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	1.1	0.8
Debtors’ Days	Days	9	6
Interest coverage	x	0.4	0.0
Debt to equity ratio	x	0.2	0.0
Return on assets	%	0.6	-0.3
Return on equity	%	-0.5	-2.7
Return on capital employed	%	0.5	0.0

To see how DISHMAN CARBOGEN AMCIS has performed over the last 5 years, please visit here.

DISHMAN CARBOGEN AMCIS Share Price Performance

Over the last one year, DISHMAN CARBOGEN AMCIS share price has moved up from Rs 165.4 to Rs 184.3, registering a gain of Rs 18.9 or around 11.4%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 44,052.6 (down 0.3%). Over the last one year it has moved up from 27,758.6 to 44,052.6, a gain of 16,294 points (up 58.7%).

Overall, the S&P BSE SENSEX is up 29.3% over the year.

(To know more, check out historical annual results for DISHMAN CARBOGEN AMCIS and quarterly results for DISHMAN CARBOGEN AMCIS)