TTK HEALTHCARE 2023-24 Annual Report Analysis

Tue, 2 Jul

TTK HEALTHCARE 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.

TTK HEALTHCARE Income Statement Analysis

• Operating income during the year rose 3.8% on a year-on-year (YoY) basis.
• The company's operating profit increased by 19.1% YoY during the fiscal. Operating profit margins witnessed a fall and down at 5.0% in FY24 as against 4.3% in FY23.
• Depreciation charges increased by 2.0% and finance costs decreased by 47.4% YoY, respectively.
• Other income grew by 29.5% YoY.
• Net profit for the year grew by 40.7% YoY.
• Net profit margins during the year grew from 6.2% in FY23 to 8.3% in FY24.

TTK HEALTHCARE Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	7,251	7,528	3.8%
Other income	Rs m	483	626	29.5%
Total Revenues	Rs m	7,734	8,154	5.4%
Gross profit	Rs m	313	373	19.1%
Depreciation	Rs m	128	131	2.0%
Interest	Rs m	52	28	-47.4%
Profit before tax	Rs m	616	841	36.5%
Tax	Rs m	170	213	25.4%
Profit after tax	Rs m	447	628	40.7%
Gross profit margin	%	4.3	5.0
Effective tax rate	%	27.5	25.3
Net profit margin	%	6.2	8.3

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

TTK HEALTHCARE Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 2 billion as compared to Rs 2 billion in FY23, thereby witnessing an decrease of -7.1%.
• Current assets rose 1% and stood at Rs 11 billion, while fixed assets rose 18% and stood at Rs 1 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 12 billion as against Rs 12 billion during FY23, thereby witnessing a growth of 3%.

TTK HEALTHCARE Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	9,534	10,009	5.0
Current Liabilities	Rs m	2,108	1,958	-7.1
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	11,658	11,952	2.5
Current assets	Rs m	10,661	10,773	1.1
Fixed Assets	Rs m	997	1,179	18.2
Total Assets	Rs m	11,658	11,952	2.5

TTK HEALTHCARE Cash Flow Statement Analysis

• TTK HEALTHCARE's cash flow from operating activities (CFO) during FY24 stood at Rs -49 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs 285 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -219 million on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 16 million from the Rs -55 million net cash flows seen during FY23.

TTK HEALTHCARE 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	-248	-49	-
Cash Flow from Investing Activities	Rs m	317	285	-10.1%
Cash Flow from Financing Activities	Rs m	-124	-219	-
Net Cash Flow	Rs m	-55	16	-

Current Valuations for TTK HEALTHCARE

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 44.5, an improvement from the EPS of Rs 31.6 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 1,460.0, stands at 32.8 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 2.1 times, while the price to sales ratio stands at 2.7 times.
• The company's price to cash flow (P/CF) ratio stood at 25.4 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	513.2	532.8
TTM Earnings per share	Rs	31.6	44.5
Diluted earnings per share	Rs	31.6	44.5
Price to Cash Flow	x	25.4	25.4
TTM P/E ratio	x	32.7	32.8
Price / Book Value ratio	x	1.3	1.9
Market Cap	Rs m	12,529	19,251
Dividends per share (Unadj.)	Rs	10.0	10.0

Ratio Analysis for TTK HEALTHCARE

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 5.5x during FY24, from 5.1x 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 31.5x during FY24, from 12.8x 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 6.3% during FY24, from 4.7% 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 8.7% during FY24, from 7.0% 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 5.5% during FY24, from 4.3% 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	5.1	5.5
Debtors’ Days	Days	464	419
Interest coverage	x	12.8	31.5
Debt to equity ratio	x	0.0	0.0
Return on assets	%	4.3	5.5
Return on equity	%	4.7	6.3
Return on capital employed	%	7.0	8.7

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

TTK HEALTHCARE Share Price Performance

Over the last one year, TTK HEALTHCARE share price has moved up from Rs 1,246.7 to Rs 1,460.0, registering a gain of Rs 213.4 or around 17.1%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 37,217.4 (down 0.1%). Over the last one year it has moved up from 25,814.5 to 37,217.4, a gain of 11,403 points (up 44.2%).

Overall, the S&P BSE SENSEX is up 24.4% over the year.

(To know more, check out historical annual results for TTK HEALTHCARE and quarterly results for TTK HEALTHCARE)