GPT HEALTHCARE LTD. 2023-24 Annual Report Analysis

Wed, 3 Jul

GPT HEALTHCARE LTD. 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.

GPT HEALTHCARE LTD. Income Statement Analysis

• Operating income during the year rose 10.8% on a year-on-year (YoY) basis.
• The company's operating profit increased by 18.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 21.9% in FY24 as against 20.6% in FY23.
• Depreciation charges increased by 20.6% and finance costs decreased by 22.5% YoY, respectively.
• Other income declined by 7.1% YoY.
• Net profit for the year grew by 22.5% YoY.
• Net profit margins during the year grew from 10.8% in FY23 to 11.9% in FY24.

GPT HEALTHCARE LTD. Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	3,610	4,002	10.8%
Other income	Rs m	57	53	-7.1%
Total Revenues	Rs m	3,667	4,055	10.6%
Gross profit	Rs m	744	878	18.1%
Depreciation	Rs m	149	180	20.6%
Interest	Rs m	92	71	-22.5%
Profit before tax	Rs m	560	680	21.6%
Tax	Rs m	170	203	19.5%
Profit after tax	Rs m	390	478	22.5%
Gross profit margin	%	20.6	21.9
Effective tax rate	%	30.3	29.8
Net profit margin	%	10.8	11.9

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GPT HEALTHCARE LTD. Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 772 million as compared to Rs 818 million in FY23, thereby witnessing an decrease of -5.7%.
• Long-term debt down at Rs 36 million as compared to Rs 403 million during FY23, a fall of 91.0%.
• Current assets fell 1% and stood at Rs 802 million, while fixed assets rose 8% and stood at Rs 3 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 3 billion as against Rs 3 billion during FY23, thereby witnessing a growth of 6%.

GPT HEALTHCARE LTD. Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,654	2,185	32.1
Current Liabilities	Rs m	818	772	-5.7
Long-term Debt	Rs m	403	36	-91.0
Total Liabilities	Rs m	3,268	3,455	5.7
Current assets	Rs m	813	802	-1.4
Fixed Assets	Rs m	2,455	2,654	8.1
Total Assets	Rs m	3,268	3,455	5.7

GPT HEALTHCARE LTD. Cash Flow Statement Analysis

• GPT HEALTHCARE LTD.'s cash flow from operating activities (CFO) during FY24 stood at Rs 688 million, an improvement of 3.7% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -252 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -485 million, an improvement of 34% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -49 million from the Rs -17 million net cash flows seen during FY23.

GPT HEALTHCARE LTD. 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	664	688	3.7%
Cash Flow from Investing Activities	Rs m	52	-252	-
Cash Flow from Financing Activities	Rs m	-732	-485	-
Net Cash Flow	Rs m	-17	-49	-

Current Valuations for GPT HEALTHCARE LTD.

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 5.8, an improvement from the EPS of Rs 4.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 156.5, stands at 26.9 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 5.9 times, while the price to sales ratio stands at 3.2 times.
• The company's price to cash flow (P/CF) ratio stood at 22.4 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	45.2	48.8
TTM Earnings per share	Rs	4.9	5.8
Diluted earnings per share	Rs	4.8	5.8
Price to Cash Flow	x	0.0	22.4
TTM P/E ratio	x	0.0	26.9
Price / Book Value ratio	x	0.0	6.7
Market Cap	Rs m	0	14,741
Dividends per share (Unadj.)	Rs	4.0	3.5

Ratio Analysis for GPT HEALTHCARE LTD.

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.0x during FY24, from 1.0x 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 improved and stood at 10.6x during FY24, from 7.1x 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 21.9% during FY24, from 23.6% 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 33.8% during FY24, from 31.7% 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 15.9% during FY24, from 14.7% 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	1.0	1.0
Debtors’ Days	Days	209	221
Interest coverage	x	7.1	10.6
Debt to equity ratio	x	0.2	0.0
Return on assets	%	14.7	15.9
Return on equity	%	23.6	21.9
Return on capital employed	%	31.7	33.8

To see how GPT HEALTHCARE LTD. has performed over the last 5 years, please visit here.

GPT HEALTHCARE LTD. Share Price Performance

Over the last one year, GPT HEALTHCARE LTD. share price has moved up from Rs 0.0 to Rs 156.5, registering a gain of Rs 156.5 or around 0.0%.

Overall, the S&P BSE SENSEX is up 22.5% over the year.

(To know more, check out historical annual results for GPT HEALTHCARE LTD. and quarterly results for GPT HEALTHCARE LTD.)