SUPRIYA LIFESCIENCE 2023-24 Annual Report Analysis

Fri, 20 Sep

SUPRIYA LIFESCIENCE 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.

SUPRIYA LIFESCIENCE Income Statement Analysis

• Operating income during the year rose 21.8% 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 35.6% in FY24 as against 31.7% in FY23.
• Depreciation charges increased by 33.8% and finance costs increased by 67.0% YoY, respectively.
• Other income grew by 10.2% YoY.
• Net profit for the year grew by 32.6% YoY.
• Net profit margins during the year grew from 22.2% in FY23 to 24.1% in FY24.

SUPRIYA LIFESCIENCE Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	4,054	4,938	21.8%
Other income	Rs m	99	110	10.2%
Total Revenues	Rs m	4,154	5,047	21.5%
Gross profit	Rs m	1,284	1,757	36.8%
Depreciation	Rs m	118	158	33.8%
Interest	Rs m	31	51	67.0%
Profit before tax	Rs m	1,235	1,657	34.2%
Tax	Rs m	336	466	38.5%
Profit after tax	Rs m	899	1,191	32.6%
Gross profit margin	%	31.7	35.6
Effective tax rate	%	27.2	28.1
Net profit margin	%	22.2	24.1

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SUPRIYA LIFESCIENCE Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 796 million as compared to Rs 958 million in FY23, thereby witnessing an decrease of -16.9%.
• Current assets fell 14% and stood at Rs 4 billion, while fixed assets rose 47% and stood at Rs 5 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 9 billion as against Rs 8 billion during FY23, thereby witnessing a growth of 13%.

SUPRIYA LIFESCIENCE Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	6,995	8,154	16.6
Current Liabilities	Rs m	958	796	-16.9
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	8,203	9,239	12.6
Current assets	Rs m	4,649	4,005	-13.9
Fixed Assets	Rs m	3,554	5,234	47.3
Total Assets	Rs m	8,203	9,239	12.6

SUPRIYA LIFESCIENCE Cash Flow Statement Analysis

• SUPRIYA LIFESCIENCE 's cash flow from operating activities (CFO) during FY24 stood at Rs 1 billion, an improvement of 78.1% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -2 billion, an improvement of 40.4% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -224 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -826 million from the Rs -703 million net cash flows seen during FY23.

SUPRIYA LIFESCIENCE 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	636	1,133	78.1%
Cash Flow from Investing Activities	Rs m	-1,237	-1,736	-
Cash Flow from Financing Activities	Rs m	-103	-224	-
Net Cash Flow	Rs m	-703	-826	-

Current Valuations for SUPRIYA LIFESCIENCE

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 14.8, an improvement from the EPS of Rs 11.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 608.3, stands at 36.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 6.0 times, while the price to sales ratio stands at 9.9 times.
• The company's price to cash flow (P/CF) ratio stood at 17.4 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	50.4	61.4
TTM Earnings per share	Rs	11.2	14.8
Diluted earnings per share	Rs	11.2	14.8
Price to Cash Flow	x	15.1	17.4
TTM P/E ratio	x	17.1	36.2
Price / Book Value ratio	x	3.9	2.9
Market Cap	Rs m	27,581	23,517
Dividends per share (Unadj.)	Rs	0.6	0.8

Ratio Analysis for SUPRIYA LIFESCIENCE

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 5.0x during FY24, from 4.9x 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 33.2x during FY24, from 41.0x 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 14.6% during FY24, from 12.8% 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 21.0% during FY24, from 18.1% 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 13.4% during FY24, from 11.3% 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	4.9	5.0
Debtors’ Days	Days	76	83
Interest coverage	x	41.0	33.2
Debt to equity ratio	x	0.0	0.0
Return on assets	%	11.3	13.4
Return on equity	%	12.8	14.6
Return on capital employed	%	18.1	21.0

To see how SUPRIYA LIFESCIENCE has performed over the last 5 years, please visit here.

SUPRIYA LIFESCIENCE Share Price Performance

Over the last one year, SUPRIYA LIFESCIENCE share price has moved up from Rs 283.4 to Rs 608.3, registering a gain of Rs 324.9 or around 114.6%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 43,655.3 (down 0.3%). Over the last one year it has moved up from 28,349.9 to 43,655.3, a gain of 15,305 points (up 54.0%).

Overall, the S&P BSE SENSEX is up 23.1% over the year.

(To know more, check out historical annual results for SUPRIYA LIFESCIENCE and quarterly results for SUPRIYA LIFESCIENCE )