 

 

 

 

 

 

 

 

Player FY 2019 FY 2020 FY 2021
Apollo Pharmac NA NA NA
MedPlus 24 -4.2 14.3
Wellness Forever a 17 2.8
API Holdings NA -2.5 -2.1
Tata 1 mg -0.3 -0.3 -0.2
Netmeds -6.4 -2.7 NA

 

 

 

 

 

Source: DRHP, MCA, & Annual Reports, Primary Research, Secondary Research, Company filings, Technopak Analysis;
NDSCR = EBITDA/ Net Debt; Net Debt = Borrowings ~ (Cash and cash equivalents plus bank balances other than cash and cash equivalents).

INTEREST COVERAGE RATIO

 

 

 

 

 

 

 

Player FY 2019 FY 2020 FY 2021
Apollo Pharmac’ NA NA NA
MedPlus: 1.5) 1.6 2.7
Wellness Forever 0.9 0.8 -0.5
API Holdings NA -47.6 -28.2
Tata 1 mg -73.5 -62.6 -20.3
Netmeds -43.3 -35.8 NA

 

Source: DRHP, MCA, & Annual Reports, Primary Research, Secondary Research, Company filings, Technopak Analysis;
Interest Coverage Ratio=Earning Before Interest & Tax divided by Finance cost. Earning Before Interest & Tax = Profit before tax plus Interest

TOTAL ASSET TURNOVER RATIO

 

 

 

 

 

 

 

 

 

 

 

 

Player FY 2019 FY 2020 FY 2021
Apollo Pharmac NA NA NA
MedPlus 2.8 20 2.1
Wellness Forever 2.3 2.0 17
API Holdings NA 17 0.9
Tata 1 mg 0.8 1.2 1.3
Netmeds 15 0.8 NA

 

Source: DRHP, MCA, & Annual Reports, Primary Research, Secondary Research, Company filings, Technopak Analysis;
Total asset turnover ratio = Revenue from operations/ (opening balances of total assets at the beginning of the year plus closing balances at the end of the
year divided by 2).

FIXED ASSET TURNOVER RATIO

 

 

 

 

 

 

 

Player FY 2019 FY 2020 FY 2021
Apollo Pharmac’ NA NA NA
MedPlus 51.9 537 41.8
Wellness Forever 13.3 15.1 13.1
API Holdings NA 35.3 56.8
Tata 1 mg 13.1 22.4 22.2
Netmeds. 45 2.3 NA

 

 

 

 

 

 

Source: DRHP, MCA, & Annual Reports, Primary Research, Secondary Research, Company filings, Technopak Analysis;
Fixed asset turnover ratio = Revenue from operations/ (total Fixed asset at the beginning of the year plus total fixed assets at the end of the year divided by
2); Fixed assets include property, plant and equipment.

CURRENT ASSET TURNOVER RATIO

 

 

 

 

 

 

 

 

 

Player FY 2019 FY 2020 FY 2021
Apollo Pharmacy NA NA NA
MedPlus 4.90 3.9 Bi
Wellness Forever 4.57 4.83 3.77
API Holdings NA 2.08 2.60
Tata 1 mg 0.91 1.25 1.46
Netmeds 2.49 171 NA

 

 

 

 

Source: DRHP, MCA, & Annual Reports, Primary Research, Secondary Research, Company filings, Technopak Analysis;
Current asset turnover ratio = Revenue from operations/ (balances of current assets at the beginning of the year plus balances of the current assets at the end
of the year divided by 2).

CAPITAL TURNOVER RATIO

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