VIVANZA BIOSCIENCES 2022-23 Annual Report Analysis

Tue, 4 Jul

VIVANZA BIOSCIENCES 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.

VIVANZA BIOSCIENCES Income Statement Analysis

• Operating income during the year rose 71.2% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a fall and down at 3.8% in FY23 as against 0.5% in FY22.
• Depreciation charges decreased by 57.1% and finance costs increased by 0.2% YoY, respectively.
• Other income declined by 42.7% YoY.
• Net profit for the year grew by 79.6% YoY.
• Net profit margins during the year grew from 3.2% in FY22 to 3.4% in FY23.

VIVANZA BIOSCIENCES Income Statement 2022-23

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Net Sales	Rs m	104	178	71.2%
Other income	Rs m	8	5	-42.7%
Total Revenues	Rs m	112	183	62.8%
Gross profit	Rs m	-1	7	NA
Depreciation	Rs m	0	0	-57.1%
Interest	Rs m	4	4	0.2%
Profit before tax	Rs m	3	7	115.3%
Tax	Rs m	0	1	0.0
Profit after tax	Rs m	3	6	79.6%
Gross profit margin	%	-0.5	3.8
Effective tax rate	%	0.0	16.5
Net profit margin	%	3.2	3.4

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VIVANZA BIOSCIENCES Balance Sheet Analysis

• The company's current liabilities during FY23 stood at Rs 170 million as compared to Rs 95 million in FY22, thereby witnessing an increase of 79.0%.
• Long-term debt down at Rs 14 million as compared to Rs 26 million during FY22, a fall of 44.8%.
• Current assets rose 57% and stood at Rs 196 million, while fixed assets fell 6% and stood at Rs 29 million in FY23.
• Overall, the total assets and liabilities for FY23 stood at Rs 225 million as against Rs 156 million during FY22, thereby witnessing a growth of 44%.

VIVANZA BIOSCIENCES Balance Sheet as on March 2023

No. of Mths Year Ending		12 Mar-22*	12 Mar-23*	% Change
Networth	Rs m	35	41	17.1
Current Liabilities	Rs m	95	170	79.0
Long-term Debt	Rs m	26	14	-44.8
Total Liabilities	Rs m	156	225	44.4
Current assets	Rs m	125	196	57.0
Fixed Assets	Rs m	31	29	-6.0
Total Assets	Rs m	156	225	44.4

VIVANZA BIOSCIENCES Cash Flow Statement Analysis

• VIVANZA BIOSCIENCES's cash flow from operating activities (CFO) during FY23 stood at Rs -9 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY23 stood at Rs 0 million, an improvement of 0.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY23 stood at Rs 10 million, an improvement of 142% on a YoY basis.
• Overall, net cash flows for the company during FY23 stood at Rs 1 million from the Rs 0 million net cash flows seen during FY22.

VIVANZA BIOSCIENCES 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	25	-9	-
Cash Flow from Investing Activities	Rs m	0	0	0.0%
Cash Flow from Financing Activities	Rs m	-25	10	-
Net Cash Flow	Rs m	0	1	-

Current Valuations for VIVANZA BIOSCIENCES

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 0.1, an decline from the EPS of Rs 0.8 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 8.8, stands at 58.5 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 8.6 times, while the price to sales ratio stands at 2.0 times.
• The company's price to cash flow (P/CF) ratio stood at 107.6 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	26.0	4.5
TTM Earnings per share	Rs	0.8	0.1
Diluted earnings per share	Rs	0.1	0.1
Price to Cash Flow	x	221.7	107.6
TTM P/E ratio	x	228.0	58.5
Price / Book Value ratio	x	15.7	15.8
Market Cap	Rs m	547	647
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for VIVANZA BIOSCIENCES

• Solvency Ratios

Current Ratio: The company's current ratio deteriorated and stood at 1.2x during FY23, from 1.3x 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 2.6x during FY23, from 1.8x 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 improved and stood at 14.6% during FY23, from 9.5% 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 improved and stood at 20.8% during FY23, from 12.6% 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 4.6% during FY23, from 4.9% 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	1.3	1.2
Debtors’ Days	Days	2,752	2,558
Interest coverage	x	1.8	2.6
Debt to equity ratio	x	0.7	0.4
Return on assets	%	4.9	4.6
Return on equity	%	9.5	14.6
Return on capital employed	%	12.6	20.8

To see how VIVANZA BIOSCIENCES has performed over the last 5 years, please visit here.

VIVANZA BIOSCIENCES Share Price Performance

Over the last one year, VIVANZA BIOSCIENCES share price has moved up from Rs 0.0 to Rs 8.8, registering a gain of Rs 8.8 or around 0.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 25,627.6 (down 0.7%). Over the last one year it has moved up from 21,735.9 to 25,627.6, a gain of 3,892 points (up 17.9%).

Overall, the S&P BSE SENSEX is up 23.0% over the year.

(To know more, check out historical annual results for VIVANZA BIOSCIENCES and quarterly results for VIVANZA BIOSCIENCES)