YATHARTH HOSPITAL 2023-24 Annual Report Analysis

Tue, 17 Sep

YATHARTH HOSPITAL 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.

YATHARTH HOSPITAL Income Statement Analysis

• Operating income during the year fell 19.3% on a year-on-year (YoY) basis.
• The company's operating profit decreased by 12.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 28.3% in FY24 as against 26.0% in FY23.
• Depreciation charges decreased by 51.1% and finance costs decreased by 74.1% YoY, respectively.
• Other income grew by 382.9% YoY.
• Net profit for the year grew by 27.7% YoY.
• Net profit margins during the year grew from 12.6% in FY23 to 20.0% in FY24.

YATHARTH HOSPITAL Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	5,203	4,198	-19.3%
Other income	Rs m	28	136	382.9%
Total Revenues	Rs m	5,231	4,333	-17.2%
Gross profit	Rs m	1,352	1,189	-12.0%
Depreciation	Rs m	275	134	-51.1%
Interest	Rs m	228	59	-74.1%
Profit before tax	Rs m	877	1,131	29.0%
Tax	Rs m	219	291	32.9%
Profit after tax	Rs m	658	840	27.7%
Gross profit margin	%	26.0	28.3
Effective tax rate	%	25.0	25.7
Net profit margin	%	12.6	20.0

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YATHARTH HOSPITAL Balance Sheet Analysis

• The company's current liabilities during FY24 down at Rs 336 million as compared to Rs 995 million in FY23, thereby witnessing an decrease of -66.3%.
• Long-term debt down at Rs 20 million as compared to Rs 2 billion during FY23, a fall of 99.0%.
• Current assets rose 276% and stood at Rs 7 billion, while fixed assets fell 29% and stood at Rs 2 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 9 billion as against Rs 5 billion during FY23, thereby witnessing a growth of 84%.

YATHARTH HOSPITAL Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	1,830	8,370	357.5
Current Liabilities	Rs m	995	336	-66.3
Long-term Debt	Rs m	2,006	20	-99.0
Total Liabilities	Rs m	4,777	8,784	83.9
Current assets	Rs m	1,763	6,636	276.5
Fixed Assets	Rs m	3,014	2,148	-28.7
Total Assets	Rs m	4,777	8,784	83.9

YATHARTH HOSPITAL Cash Flow Statement Analysis

• YATHARTH HOSPITAL's cash flow from operating activities (CFO) during FY24 stood at Rs 160 million on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -2 billion, an improvement of 724.6% on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs 2 billion, an improvement of 1,456% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs 891 million from the Rs 257 million net cash flows seen during FY23.

YATHARTH HOSPITAL 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	638	160	-75.0%
Cash Flow from Investing Activities	Rs m	-203	-1,675	-
Cash Flow from Financing Activities	Rs m	-177	2,406	-
Net Cash Flow	Rs m	257	891	246.2%

Current Valuations for YATHARTH HOSPITAL

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 9.8, an decline from the EPS of Rs 10.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 560.0, stands at 38.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 5.7 times, while the price to sales ratio stands at 11.5 times.
• The company's price to cash flow (P/CF) ratio stood at 35.6 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	79.4	48.9
TTM Earnings per share	Rs	10.0	9.8
Diluted earnings per share	Rs	7.7	9.8
Price to Cash Flow	x	0.0	35.6
TTM P/E ratio	x	0.0	38.2
Price / Book Value ratio	x	0.0	4.1
Market Cap	Rs m	0	34,679
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for YATHARTH HOSPITAL

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 19.8x during FY24, from 1.8x 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 20.2x during FY24, from 4.8x 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 declined and down at 10.0% during FY24, from 35.9% 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 declined and down at 14.2% during FY24, from 28.8% 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 declined and down at 10.2% during FY24, from 18.5% 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	1.8	19.8
Debtors’ Days	Days	76	125
Interest coverage	x	4.8	20.2
Debt to equity ratio	x	1.1	0.0
Return on assets	%	18.5	10.2
Return on equity	%	35.9	10.0
Return on capital employed	%	28.8	14.2

To see how YATHARTH HOSPITAL has performed over the last 5 years, please visit here.

YATHARTH HOSPITAL Share Price Performance

Over the last one year, YATHARTH HOSPITAL share price has moved up from Rs 387.2 to Rs 560.0, registering a gain of Rs 172.8 or around 44.6%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 44,308.1 (down 0.1%). Over the last one year it has moved up from 28,682.7 to 44,308.1, a gain of 15,625 points (up 54.5%).

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

(To know more, check out historical annual results for YATHARTH HOSPITAL and quarterly results for YATHARTH HOSPITAL)