TOHEAL PHARMA 2022-23 Annual Report Analysis

Tue, 16 May

TOHEAL PHARMA has announced its results for the year ended March 2023. Let us have a look at the detailed performance review of the company during FY22-23.

TOHEAL PHARMA Income Statement Analysis

• Operating income during the year fell 50.5% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and stood at 28.6% in FY23 as against 42.4% in FY22.
• Depreciation charges decreased by 55.6% increased by 0.0% YoY, respectively.
• Other income declined by 60.2% YoY.
• Net profit for the year declined by 93.4% YoY.
• Net profit margins during the year declined from 83.9% in FY22 to 11.4% in FY23.

TOHEAL PHARMA Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	2	1	-50.5%
Other income	Rs m	1	1	-60.2%
Total Revenues	Rs m	3	1	-54.3%
Gross profit	Rs m	1	0	NA
Depreciation	Rs m	0	0	-55.6%
Interest	Rs m	0	0	0.0%
Profit before tax	Rs m	2	0	-92.6%
Tax	Rs m	0	0	-89.2%
Profit after tax	Rs m	2	0	-93.4%
Gross profit margin	%	42.4	-28.6
Effective tax rate	%	18.2	26.7
Net profit margin	%	83.9	11.4

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TOHEAL PHARMA Balance Sheet Analysis

• The company's current liabilities during FY23 down at Rs 0 million as compared to Rs 2 million in FY22, thereby witnessing an decrease of -90.6%.
• Current assets fell 2% and stood at Rs 58 million, while fixed assets fell 11% and stood at Rs 10 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 68 million as against Rs 71 million during FY22, thereby witnessing a fall of 3%.

TOHEAL PHARMA Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	69	68	-1.4
Current Liabilities	Rs m	2	0	-90.6
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	71	68	-3.5
Current assets	Rs m	60	58	-2.2
Fixed Assets	Rs m	11	10	-10.5
Total Assets	Rs m	71	68	-3.5

TOHEAL PHARMA Cash Flow Statement Analysis

• TOHEAL PHARMA's cash flow from operating activities (CFO) during FY23 stood at Rs -1 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 0 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 0 million, an improvement of 100% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs -1 million from the Rs -2 million net cash flows seen during FY22.

TOHEAL PHARMA Cash Flow Statement 2022-23

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-22	Mar-23
Cash Flow from Operating Activities	Rs m	-1	-1	-
Cash Flow from Investing Activities	Rs m	0	0	-
Cash Flow from Financing Activities	Rs m	-1	0	-
Net Cash Flow	Rs m	-2	-1	-

Current Valuations for TOHEAL PHARMA

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.0, an decline from the EPS of Rs 0.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 28.5, stands at 2,456.4 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 4.0 times, while the price to sales ratio stands at 275.7 times.
• The company's price to cash flow (P/CF) ratio stood at 1,166.4 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Sales per share (Unadj.)	Rs	0.2	0.1
TTM Earnings per share	Rs	0.2	0.0
Diluted earnings per share	Rs	0.2	0.0
Price to Cash Flow	x	27.0	1,166.4
TTM P/E ratio	x	28.3	2,456.4
Price / Book Value ratio	x	0.5	2.7
Market Cap	Rs m	33	181
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for TOHEAL PHARMA

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 388.1x during FY23, from 37.2x during FY22. 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 4.8x during FY23, from 0.0x during FY22. 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 0.2% during FY23, from 2.4% during FY23. 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 0.3% during FY23, from 3.0% during FY22. 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 0.2% during FY23, from 2.4% during FY22. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*
Current ratio	x	37.2	388.1
Debtors’ Days	Days	2,013	2,708
Interest coverage	x	0.0	4.8
Debt to equity ratio	x	0.0	0.0
Return on assets	%	2.4	0.2
Return on equity	%	2.4	0.2
Return on capital employed	%	3.0	0.3

To see how TOHEAL PHARMA has performed over the last 5 years, please visit here.

TOHEAL PHARMA Share Price Performance

Over the last one year, TOHEAL PHARMA share price has moved up from Rs 20.2 to Rs 28.5, registering a gain of Rs 8.3 or around 40.9%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 23,323.3 (up 0.4%). Over the last one year it has moved up from 22,354.2 to 23,323.3, a gain of 969 points (up 4.3%).

Overall, the S&P BSE SENSEX is up 17.7% over the year.

(To know more, check out historical annual results for TOHEAL PHARMA and quarterly results for TOHEAL PHARMA)