KILITCH DRUGS 2023-24 Annual Report Analysis

Thu, 12 Sep

KILITCH DRUGS 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.

KILITCH DRUGS Income Statement Analysis

• Operating income during the year rose 10.6% on a year-on-year (YoY) basis.
• The company's operating profit increased by 36.8% YoY during the fiscal. Operating profit margins witnessed a fall and down at 15.7% in FY24 as against 12.7% in FY23.
• Depreciation charges decreased by 5.7% and finance costs increased by 18.7% YoY, respectively.
• Other income grew by 53.5% YoY.
• Net profit for the year grew by 63.9% YoY.
• Net profit margins during the year grew from 5.9% in FY23 to 8.8% in FY24.

KILITCH DRUGS Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	1,396	1,544	10.6%
Other income	Rs m	29	45	53.5%
Total Revenues	Rs m	1,425	1,589	11.5%
Gross profit	Rs m	177	243	36.8%
Depreciation	Rs m	36	34	-5.7%
Interest	Rs m	51	60	18.7%
Profit before tax	Rs m	120	194	61.1%
Tax	Rs m	37	58	54.8%
Profit after tax	Rs m	83	136	63.9%
Gross profit margin	%	12.7	15.7
Effective tax rate	%	31.1	29.9
Net profit margin	%	5.9	8.8

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

KILITCH DRUGS Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 642 million as compared to Rs 689 million in FY23, thereby witnessing an decrease of -6.8%.
• Current assets rose 15% and stood at Rs 1 billion, while fixed assets rose 0% and stood at Rs 915 million in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 2 billion as against Rs 2 billion during FY23, thereby witnessing a growth of 9%.

KILITCH DRUGS Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,462	1,759	20.3
Current Liabilities	Rs m	689	642	-6.8
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	2,175	2,375	9.2
Current assets	Rs m	1,264	1,460	15.5
Fixed Assets	Rs m	911	915	0.4
Total Assets	Rs m	2,175	2,375	9.2

KILITCH DRUGS Cash Flow Statement Analysis

• KILITCH DRUGS's cash flow from operating activities (CFO) during FY24 stood at Rs -1 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -95 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 88 million, an improvement of 1,330% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -9 million from the Rs 98 million net cash flows seen during FY23.

KILITCH DRUGS 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	26	-1	-
Cash Flow from Investing Activities	Rs m	79	-95	-
Cash Flow from Financing Activities	Rs m	-7	88	-
Net Cash Flow	Rs m	98	-9	-

Current Valuations for KILITCH DRUGS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 8.4, an improvement from the EPS of Rs 5.3 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 393.5, stands at 59.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 3.6 times, while the price to sales ratio stands at 4.1 times.
• The company's price to cash flow (P/CF) ratio stood at 29.0 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	89.6	96.0
TTM Earnings per share	Rs	5.3	8.4
Diluted earnings per share	Rs	5.2	8.4
Price to Cash Flow	x	19.0	29.0
TTM P/E ratio	x	27.1	59.5
Price / Book Value ratio	x	1.8	2.8
Market Cap	Rs m	2,646	4,912
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for KILITCH DRUGS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.3x during FY24, from 1.8x 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 4.2x during FY24, from 3.4x 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 improved and stood at 7.7% during FY24, from 5.7% 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 14.4% during FY24, from 11.7% 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 8.3% during FY24, from 6.1% 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	1.8	2.3
Debtors’ Days	Days	1,419	1,495
Interest coverage	x	3.4	4.2
Debt to equity ratio	x	0.0	0.0
Return on assets	%	6.1	8.3
Return on equity	%	5.7	7.7
Return on capital employed	%	11.7	14.4

To see how KILITCH DRUGS has performed over the last 5 years, please visit here.

KILITCH DRUGS Share Price Performance

Over the last one year, KILITCH DRUGS share price has moved up from Rs 217.1 to Rs 393.5, registering a gain of Rs 176.4 or around 81.3%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 44,204.2 (up 0.9%). Over the last one year it has moved up from 28,294.8 to 44,204.2, a gain of 15,909 points (up 56.2%).

Overall, the S&P BSE SENSEX is up 21.6% over the year.

(To know more, check out historical annual results for KILITCH DRUGS and quarterly results for KILITCH DRUGS)