LASA SUPERGENERICS 2020-21 Annual Report Analysis

Wed, 31 Mar

LASA SUPERGENERICS has announced its results for the year ended March 2021. Let us have a look at the detailed performance review of the company during FY20-21.

LASA SUPERGENERICS Income Statement Analysis

• Operating income during the year rose 21.0% on a year-on-year (YoY) basis.
• The company's operating profit increased by 57.5% YoY during the fiscal. Operating profit margins witnessed a fall and down at 23.3% in FY21 as against 17.9% in FY20.
• Depreciation charges decreased by 8.7% and finance costs decreased by 74.6% YoY, respectively.
• Other income declined by 25.2% YoY.
• Net profit for the year grew by 527.8% YoY.
• Net profit margins during the year grew from 2.2% in FY20 to 11.3% in FY21.

LASA SUPERGENERICS Income Statement 2020-21

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*	% Change
Net Sales	Rs m	1,672	2,024	21.0%
Other income	Rs m	2	2	-25.2%
Total Revenues	Rs m	1,675	2,026	20.9%
Gross profit	Rs m	300	472	57.5%
Depreciation	Rs m	173	158	-8.7%
Interest	Rs m	81	21	-74.6%
Profit before tax	Rs m	47	295	522.7%
Tax	Rs m	11	67	506.0%
Profit after tax	Rs m	36	228	527.8%
Gross profit margin	%	17.9	23.3
Effective tax rate	%	23.4	22.8
Net profit margin	%	2.2	11.3

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LASA SUPERGENERICS Balance Sheet Analysis

• The company's current liabilities during FY21 down at Rs 405 million as compared to Rs 759 million in FY20, thereby witnessing an decrease of -46.6%.
• Current assets fell 15% and stood at Rs 643 million, while fixed assets fell 6% and stood at Rs 1 billion in FY21.
• Overall, the total assets and liabilities for FY21 stood at Rs 2 billion as against Rs 2 billion during FY20, thereby witnessing a fall of 9%.

LASA SUPERGENERICS Balance Sheet as on March 2021

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*	% Change
Networth	Rs m	1,415	1,589	12.3
Current Liabilities	Rs m	759	405	-46.6
Long-term Debt	Rs m	141	0	-100.0
Total Liabilities	Rs m	2,288	2,079	-9.2
Current assets	Rs m	759	643	-15.2
Fixed Assets	Rs m	1,529	1,435	-6.1
Total Assets	Rs m	2,288	2,079	-9.2

LASA SUPERGENERICS Cash Flow Statement Analysis

• LASA SUPERGENERICS's cash flow from operating activities (CFO) during FY21 stood at Rs 413 million, an improvement of 203.2% on a YoY basis.
• Cash flow from investing activities (CFI) during FY21 stood at Rs -36 million, an improvement of 121.4% on a YoY basis.
• Cash flow from financial activities (CFF) during FY21 stood at Rs -364 million on a YoY basis.
• Overall, net cash flows for the company during FY21 stood at Rs 13 million from the Rs 21 million net cash flows seen during FY20.

LASA SUPERGENERICS Cash Flow Statement 2020-21

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-20	Mar-21
Cash Flow from Operating Activities	Rs m	136	413	203.2%
Cash Flow from Investing Activities	Rs m	-16	-36	-
Cash Flow from Financing Activities	Rs m	-99	-364	-
Net Cash Flow	Rs m	21	13	-40.9%

Current Valuations for LASA SUPERGENERICS

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 5.6, an improvement from the EPS of Rs 0.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 59.9, stands at 10.7 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 1.5 times, while the price to sales ratio stands at 1.2 times.
• The company's price to cash flow (P/CF) ratio stood at 6.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*
Sales per share (Unadj.)	Rs	41.1	49.8
TTM Earnings per share	Rs	0.9	5.6
Diluted earnings per share	Rs	0.9	5.6
Price to Cash Flow	x	5.5	6.7
TTM P/E ratio	x	31.8	10.7
Price / Book Value ratio	x	0.9	1.6
Market Cap	Rs m	1,204	2,586
Dividends per share (Unadj.)	Rs	0.0	0.3

Ratio Analysis for LASA SUPERGENERICS

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.6x during FY21, from 1.0x during FY20. 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 15.3x during FY21, from 1.6x during FY20. 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 14.3% during FY21, from 2.6% during FY21. 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 19.9% during FY21, from 8.3% during FY20. 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 12.0% during FY21, from 5.1% during FY20. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-20*	12 Mar-21*
Current ratio	x	1.0	1.6
Debtors’ Days	Days	451	266
Interest coverage	x	1.6	15.3
Debt to equity ratio	x	0.1	0.0
Return on assets	%	5.1	12.0
Return on equity	%	2.6	14.3
Return on capital employed	%	8.3	19.9

To see how LASA SUPERGENERICS has performed over the last 5 years, please visit here.

LASA SUPERGENERICS Share Price Performance

Over the last one year, LASA SUPERGENERICS share price has moved up from Rs 28.4 to Rs 59.9, registering a gain of Rs 31.5 or around 110.9%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 21,328.2 (up 0.4%). Over the last one year it has moved up from 12,148.6 to 21,328.2, a gain of 9,180 points (up 75.6%).

Overall, the S&P BSE SENSEX is up 74.1% over the year.

(To know more, check out historical annual results for LASA SUPERGENERICS and quarterly results for LASA SUPERGENERICS)