fa analysis ratios fortis healthcare
TRANSCRIPT
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BALANCE SHEET AS AT MARCH 31, 2013
March 31, 2013 March 31, 2012
in Lacs in Lacs
EQUITY AND LIABILITIESShareholders funds
Share capital 40,953.37 40,950.61
Reserves and surplus 279,551.86 279,509.56
Total 320,505.23 320,460.17
Non-current liabilities
Long-term borrowings 69,743.33 67,978.23
Deferred tax liabilities (net) 31.84 0
Other long term liabilities 1,527.02 7,641.56
Long-term provisions 704.11 466.12
Total 72,006.30 76,085.91
Current liabilities
Short-term borrowings 30,056.49 42,266.05
Trade payables 4,734.31 4,637.61
Other current liabilities 19,758.32 5,882.22
Short-term provisions 765.76 417.27Total 55,314.88 53,203.15
TOTAL 447,826.41 449,749.23
ASSETS
Non-current assets
Fixed assets
Tangible assets 11,454.52 8,321.72Intangible assets 304.24 130.32
Capital work-in-progress 7,294.23 4,865.09
(i) Total 19,052.99 13,317.13
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BALANCE SHEET AS AT MARCH 31, 2013
March 31, 2013
in Lacs
EQUITY AND LIABILITIESShareholders funds
Share capital 40,953.37 9.14%
Reserves and surplus 279,551.86 62.42%
Total 320,505.23 71.57%
Non-current liabilities
Long-term borrowings 69,743.33 15.57%
Deferred tax liabilities (net) 31.84 0.01%
Other long term liabilities 1,527.02 0.34%
Long-term provisions 704.11 0.16%
Total 72,006.30 16.08%
Current liabilities
Short-term borrowings 30,056.49 6.71%
Trade payables 4,734.31 1.06%
Other current liabilities 19,758.32 4.41%
Short-term provisions 765.76 0.17%Total 55,314.88 12.35%
TOTAL 447,826.41 100%
ASSETS
Non-current assets
Fixed assets
Tangible assets 11,454.52 2.56%Intangible assets 304.24 0.07%
Capital work-in-progress 7,294.23 1.63%
(i) Total 19,052.99 4.25%
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March 31, 2012
in Lacs
40,950.61 9.11%
279,509.56 62.15%
320,460.17 71.25%
0.00%
67,978.23 15.11%
0 0.00%
7,641.56 1.70%
466.12 0.10%
76,085.91 16.92%
0.00%
42,266.05 9.40%
4,637.61 1.03%
5,882.22 1.31%
417.27 0.09%53,203.15 11.83%
449,749.23 100.00%
8,321.72 1.85%130.32 0.03%
4,865.09 1.08%
13,317.13 2.96%
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STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED MARCH 31, 2013
March 31, 2013
in Lacs
INCOMERevenue from operations 35,297.21
Other income 19,056.93
Exceptional items 0
Total revenue 54,354.14
EXPENDITURE
Purchase of medical consumables and drugs (includes prior period items of ` 0.11 lacs,
Previous year ` 29 lacs) 10,187.06
Increase in inventories of medical consumables and drugs -51.39
Employee benefits expense 10,133.14
Other expenses 15,144.46
Total expenses 35,413.27
Earnings before interest, tax, depreciation and amortization (EBITDA) 18,940.87
Finance costs 13,386.47
Profit before tax, depreciation and amortization 5,554.40
Depreciation and amortization expense 2,346.83Profit before tax 3,207.57
Tax expense:
Current tax (including MAT payable) 1,450.85
Less: MAT credit entitlement 0
Deferred tax charge 31.84
Total tax expenses 1,482.69
Profit for the year 1,724.88Earnings per share [Nominal value of shares ` 10/- each (Previous year ` 10/- each)
Basic 0.43
Diluted 0.43
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March 31, 2012
in Lacs
28,127.97
12,704.24
18,462.37
59,294.58
7,951.71
-95.56
7,073.50
12,721.55
27,651.20
31,643.38 1894087%
10,293.40 172488%
21,349.98
1,211.4420,138.54
4,030.45
-4,030.45
0
0.00
20,138.54
4.97
4.97
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STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED MARCH 31, 2013
INCOMERevenue from operations
Total revenue
EXPENDITURE
Purchase of medical consumables and drugs (includes prior period items of ` 0.11 lacs,
Previous year ` 29 lacs)
Increase in inventories of medical consumables and drugs
Employee benefits expense
Other expenses
Depreciation and amortization expense
Total expenses
Earnings before interest, tax, depreciation and amortization (EBITDA)
Profit before tax
Tax expense:
Current tax (including MAT payable)
Less: MAT credit entitlement
Deferred tax charge
Total tax expenses
Current Year Income Tax
Tax on Other Income
Tax on Finance costs
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Average Total Assets
Average Investments
Operating Assets
return on assets
return on operating assets
Asset turnover
Operating asset turnover
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March 31, 2013 March 31, 2012
in Lacs in Lacs
35,297.21 28,127.97
35,297.21 28,127.97
10,187.06 7,951.71
-51.39 -95.56
10,133.14 7,073.50
15,144.46 12,721.55
2,346.83 1,211.44
37,760.10 28,862.64
-2,462.89 -734.67
0.00 0.00
-2,462.89 -734.67
1,450.85 4,030.45
0 -4,030.45
31.84 0
1,482.69 0.00
1,482.69 0.00
6,183.02 4,121.89 Tax percentage 32.445
4,343.24 3,339.69
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448,787.82 403,566.14
235,798.17 192,045.04
212,989.65 211,521.10
0.38% 1.90%
-0.99% 2.85%
7.87% 6.97%
16.57% 13.30%
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BALANCE SHEET AS AT MARCH 31, 2013
March 31, 2013 March 31, 2012
in Lacs in Lacs
EQUITY AND LIABILITIESShareholders funds
Share capital 40,953.37 40,950.61
Reserves and surplus 279,551.86 279,509.56
Total 320,505.23 320,460.17
Non-current liabilities
Long-term borrowings 69,743.33 67,978.23
Deferred tax liabilities (net) 31.84 0
Other long term liabilities 1,527.02 7,641.56
Long-term provisions 704.11 466.12
Total 72,006.30 76,085.91
Current liabilities
Short-term borrowings 30,056.49 42,266.05
Trade payables 4,734.31 4,637.61
Other current liabilities 19,758.32 5,882.22
Short-term provisions 765.76 417.27Total 55,314.88 53,203.15
TOTAL 447,826.41 449,749.23
ASSETS
Non-current assets
Fixed assets
Tangible assets 11,454.52 8,321.72
Intangible assets 304.24 130.32
Capital work-in-progress 7,294.23 4,865.09
(i) Total 19,052.99 13,317.13
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Change
Amount %
2.76 0%
42.30 0%
45.06 0%
1,765.10 3%
31.84
-6,114.54 -80%
237.99 51%
-4,079.61 -5%
-12,209.56 -29%
96.70 2%
13,876.10 236%
348.49 84%2,111.73 4%
-1,922.82 0%
3,132.80 38%
173.92 133%
2,429.14 50%
5,735.86 43%
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STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED MARCH 31, 2013
March 31, 2013
in Lacs
INCOMERevenue from operations 35,297.21
Other income 19,056.93
Exceptional items 0
Total revenue 54,354.14
EXPENDITURE
Purchase of medical consumables and drugs (includes prior period items of ` 0.11 lacs,
Previous year ` 29 lacs) 10,187.06
Increase in inventories of medical consumables and drugs 51.39
Employee benefits expense 10,133.14
Other expenses 15,144.46
Total expenses 35,413.27
Earnings before interest, tax, depreciation and amortization (EBITDA) 18,940.87
Finance costs 13,386.47
Profit before tax, depreciation and amortization 5,554.40
Depreciation and amortization expense 2,346.83
Profit before tax 3,207.57
Tax expense:
Current tax (including MAT payable) 1,450.85Less: MAT credit entitlement 0
Deferred tax charge 31.84
Total tax expenses 1,482.69
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March 31, 2012
in Lacs Amount %
28,127.97 7,169.24 25%
12,704.24 6,352.69 50%
18,462.37 -18,462.37 -100%
59,294.58 -4,940.44 -8%
7,951.71 2,235.35 28%
95.56 -44.17 -46%
7,073.50 3,059.64 43%
12,721.55 2,422.91 19%
27,651.20 7,762.07 28%
31,643.38 -12,702.51 -40%
10,293.40 3,093.07 30%21,349.98 -15,795.58 -74%
1,211.44 1,135.39 94%
20,138.54 -16,930.97 -84%
4,030.45 -2,579.60 -64%4,030.45 -4,030.45 -100%
0 31.84
0 1,482.69
Change
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Profitability Ratios
Amounts in Rs. Lacs
Ratio Formula
A Return on Equity Profit After Tax 1,724.88 0.54%
Total Shareholders Funds 320,505.23
B Profit After Tax 1,724.88 4.89%
Sales 35,297.21
C Operating Profit Margin (%) NOPAT (2,105.80) -5.97%
Sales 35,297.21
D Return on Assets Profit After Tax 1,724.88 0.38%
Average Total Assets 448,787.82
Profit margin Profit After Tax 1,724.88 4.89%
Sales 35,297.21
Asset Turnover Ratio Sales 35,297.21 7.87%
Total Assets 448,787.82
* Profit excluding exceptional items
Also refer NOPAT sheet
Extended Dupont Analysis
Return on Equity Profit After Tax 1,724.88 0.54%
2012-2013
Net Profit Margin (%) or Return On Sales
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Equity 320,505.23
Profit margin Profit After Tax 1,724.88 4.89%
Sales 35,297.21
Asset Turnover Ratio Sales 35,297.21 7.87%Total Assets 448,787.82
Leverage Total Assets 448,787.82 140.03%
Total Equity 320,505.23
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Liquidity Ratios
Amounts in Rs. Lacs
Ratio Formula
A Current Ratio Total Current Assets 117,201.53 2.12 : 1 153,427.03 2.884 : 1
Total Current Liabilities 55,314.88 53,203.15
B Quick Test Ratio Current Assets- Inventory 116,716.67 2.11 : 1 153,001.74 2.876 : 1
Current Liabilites 55,314.88 53,203.15
C Inventory Turnover Ratio Sales 35,297.21 72.80 Times 28,127.97 66.14 Times
Inventory 484.86 425.29
D Inventory Holding Period No of days in a year 365 5.01 Days 365 5.52 Days
Inventory Turnover Ratio 72.80 66.14
E Debtors Turnover Ratio Sales Turnover 35,297.21 3.79 Times 28,127.97 4.50 Times
Sundry Debtors 9,305.03 6,249.50
F Debtors Holding Period No of days in a year 365 96.22 Days 365 81.10 Days
Debtors Turnover Ratio 3.79 4.50
2012-2013 2011-12
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Solvency Ratios
Amounts in Rs. Lacs
Ratio Formula
A Debt to equity ratio Total Borrowings there are no loans taken by the company. Hence this ratio is not applicable to Fortis
Sharholders' Funds
B Liabilities to Equity Ratio Total Liabilities. 447,826.41 1.40 : 1 449,749.23 1.40 : 1
Sharholders' Funds 320,505.23 320,460.17
C Leverage Total Assets 447,826.41 1.40 : 1 449,749.23 1.40 : 1
Total Equity 320,505.23 320,460.17
D Interest Coverage Ratio PBIT(from pg.29) (2,462.89) (0.18) times (734.67) (0.07) times
Interest Expense 13,386.47 10,293.40
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2011-12 2011-12
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ealthcare
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Capital Market Ratios
Amounts in Rs. Lacs
Ratio Formula
A Earnings Per Share
(a) Basic 0.43 4.97
(b) Diluted 0.43 4.97
B
C Price Earnings Ratio Market Price 466.1 1,083.95 409.9 82.47
Earnings Per Share 0.43 4.97
D Dividend Yield Ratio Dividend per Share 0 0.00% 0 0.00%
Market Price 466.1 409.9
2011-12 2010-11