Talwalkars Healthclubs financials and balance sheet
BSE: 541545Leisure Services
Formerly Talwalkars Lifestyles
Trading suspended since 23 Mar 2021
Last traded ₹1.05 on 22 Mar 2021
2 years at a glance
Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Talwalkars Healthclubs annual reports
Revenue, net profit and borrowings, ₹ crore
- Revenue
- Net profit
- Borrowings
Peak revenue ₹281 Cr, year to Mar 2019
Operating and net margin, per cent
- Operating marginOperating margin. Operating profit before depreciation as a percentage of revenue: how much of each rupee of sales is left after running costs.
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax.
Results for the year to Mar 2019
Consolidated: the company and its subsidiaries together. ₹ crore.
From revenue to net profit
- Revenue281
- Materials and goods−17
- Employee costs−42
- Other expenses−80
- Operating profit142
- Depreciation−36
- Other income+4.3
- One-off items+0.3
- Finance costs−21
- Profit before tax89
- Tax−18
- Joint ventures+2.4
- Net profit73
What the company owns
- Plant, investments and other assets₹1,003 Cr
- Cash and bank₹47 Cr
- Receivables₹30 Cr
- Inventory₹9 Cr
- Current investments₹1 Cr
What pays for it: net worth and liabilities
- Net worth₹504 Cr
- Borrowings₹434 Cr
- Other liabilities₹142 Cr
- Owed to suppliers₹9 Cr
Profit and loss
Consolidated, ₹ crore, years to March.Talwalkars Healthclubs quarterly results
| ₹ crore | Mar 2018Filed 17 Jul | Mar 2019Filed 12 Jun |
|---|---|---|
| Revenue from operations | 247 | 281 |
| Operating expenses. What the business spent to run itself in the period, materials, staff and other costs, before depreciation, interest and tax. | 108 | 139 |
| Materials and goods boughtCost of materials and goods. Raw materials used and goods bought for resale in the period, adjusted for the change in stock held. | 0 | 17 |
| Employee costsEmployee costs. Salaries, wages, bonuses and other benefits paid to staff in the period. | 36 | 42 |
| Other expensesOther expenses. Every operating cost besides materials and staff: power, rent, freight, repairs, marketing and the like. | 72 | 80 |
| Operating profit before depreciationOperating profit before depreciation (EBITDA). Revenue less operating expenses: what the business earns from its operations before depreciation, interest and tax. | 139 | 142 |
| Operating marginOperating margin. Operating profit before depreciation as a percentage of revenue: how much of each rupee of sales is left after running costs. | 56.3% | 50.6% |
| Materials, % of revenueMaterials, % of revenue. Raw materials used and goods bought for resale, adjusted for the change in stock, divided by revenue, times 100. | 0.0% | 6.1% |
| Employee costs, % of revenueEmployee costs, % of revenue. Salaries, wages and other staff costs divided by revenue, times 100. | 14.4% | 14.9% |
| Other expenses, % of revenueOther expenses, % of revenue. Operating costs besides materials and staff divided by revenue, times 100; with the two above and the operating margin it makes 100. | 29.2% | 28.5% |
| Depreciation and amortisationDepreciation and amortisation. The part of the cost of plant, buildings and other long-lived assets charged against each year they are used. | 30 | 36 |
| Operating profit after depreciationOperating profit after depreciation (EBIT). Operating profit before depreciation, less depreciation and amortisation. | 109 | 106 |
| Other incomeOther income. Income from outside the main business, such as interest on deposits, dividends received and gains on investments. | 12 | 4 |
| Finance costsFinance costs. Interest and the other costs of borrowing in the period. | 17 | 21 |
| Profit before one-off items and taxProfit before one-off items and tax. Profit before tax as it would be without the one-off items below it, as the company states it. | 104 | 89 |
| One-off itemsExceptional items. Gains or losses the company reports separately because they are not expected to recur, such as selling a business or writing down an asset. | 0 | 0 |
| Profit before tax | 104 | 89 |
| 36 | 18 | |
| Share of profit of joint ventures and associatesShare of profit of joint ventures and associates. The group's share of the profit of companies it part-owns and does not consolidate, as stated. It is part of net profit but not of revenue or operating profit: their sales and costs are not in the group's lines. | 1 | 2 |
| 70 | 73 | |
| Other comprehensive incomeOther comprehensive income. Gains and losses booked straight to net worth rather than through profit, such as changes in the value of some investments, pension plans and currency translation. | 0 | 0 |
| Total comprehensive incomeTotal comprehensive income. Net profit plus other comprehensive income. | 70 | 74 |
| Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. | 28.4% | 26.1% |
| Net margin without joint ventures and associatesNet margin without joint ventures and associates. Net profit less the share of profit of joint ventures and associates, as a percentage of revenue: the margin on the businesses whose revenue the statement carries. Shown where the company states such a share. | 27.8% | 25.2% |
Balance sheet
Consolidated, ₹ crore, at 31 March.
| ₹ crore | Mar 2018Filed 17 Jul | Mar 2019Filed 12 Jun |
|---|---|---|
| Net worth. What the company owns less everything it owes: the money shareholders have in the business, paid in and kept from profits. | 437 | 504 |
| Net worth belonging to the company's shareholders. Net worth less the part that belongs to outside owners of subsidiaries. | 434 | 504 |
| Share capitalShare capital. The face value of all the shares the company has issued. | 31 | 31 |
| ReservesReserves. The rest of the shareholders' net worth: profits kept in the business over the years, and money paid for shares above their face value. | 403 | 473 |
| Belonging to outside owners of subsidiariesNet worth belonging to outside owners of subsidiaries. The part of net worth that belongs to the other shareholders of subsidiaries the company does not fully own. | 2 | – |
| Borrowings. Loans, bonds and other money the company has borrowed and must repay with interest. | 301 | 434 |
| Liabilities due within a year. Everything the company must pay within twelve months: borrowings falling due, suppliers, and other dues and provisions. | 89 | 143 |
| Liabilities due after a year. Everything the company owes that falls due more than twelve months on, borrowings among it. | 313 | 442 |
| Total assetsTotal assets. Everything the company owns or controls: plant, investments, stock, money owed by customers and cash. | 839 | 1,090 |
| Assets held for longer than a year. Everything the company owns that it does not expect to turn into cash within twelve months: plant, intangibles, long-term investments, loans given and the like. | 676 | 888 |
| Assets turning to cash within a year. Everything the company expects to turn into cash or use up within twelve months: stock, money owed by customers, cash and short-term investments. | 163 | 202 |
| Net debtNet debt. Borrowings less cash, other bank balances and current investments: what the company would still owe if it used its cash to repay. | 249 | 386 |
Borrowings are counted again inside the liabilities due within a year and after a year.
Ratios
Consolidated, years to March.
| Ratio | Mar 2018Filed 17 Jul | Mar 2019Filed 12 Jun |
|---|---|---|
| Revenue growthRevenue growth. This year's revenue less last year's, divided by last year's, times 100; blank where last year's is not above nought. | – | 13.9% |
| Operating profit growthOperating profit growth. This year's operating profit before depreciation less last year's, divided by last year's, times 100; blank where last year's is not above nought. | – | 2.2% |
| Net profit growthNet profit growth. This year's net profit less last year's, divided by last year's, times 100; blank where last year's is not above nought. | – | 4.7% |
| Earnings per share growthEarnings per share growth. This year's earnings per share less last year's, on the same share count, divided by last year's, times 100; blank where last year's is not above nought. | – | 4.8% |
| Return on equity. Profit belonging to shareholders as a percentage of their average net worth over the year. | 16.0%what Return on equity, Mar 2018, includes. This year's return on equity, asset turnover and assets per rupee of net worth are on its year-end balance sheet: none a year before is on record to average with. | 15.7% |
| Change in return on equity. This year's return on equity less last year's, in percentage points, split below into what came from the margin, turnover and borrowing, which add up to it. | – | −0.3 pts |
| From the net marginChange from the net margin. The part of the change in return on equity that came from profit per rupee of sales. | – | −1.1 pts |
| From asset turnoverChange from asset turnover. The part of the change in return on equity that came from sales per rupee of assets. | – | −0.1 pts |
| From borrowingChange from borrowing. The part of the change in return on equity that came from assets per rupee of net worth. | – | 0.9 pts |
| Return on capital employedReturn on capital employed. Operating profit after depreciation divided by net worth plus borrowings at the year end, times 100: what the business earns on all the money in it. | 14.8% | 11.3% |
| Interest coverInterest cover. Operating profit after depreciation divided by finance costs: how many times over the profit pays the interest bill. | 6.5 | 5.0 |
| Debt to equityDebt to equity. Borrowings at the year end divided by net worth: rupees borrowed for each rupee shareholders have in the business. | 0.69 | 0.86 |
| Receivable daysReceivable days. Trade receivables divided by revenue, times 365: the average days customers take to pay. | 21 | 38 |
| Inventory daysInventory days. Inventories divided by the cost of materials and goods, times 365: the days of stock the company holds. | – | 202 |
| Payable daysPayable days. Trade payables divided by the cost of materials and goods, times 365: the average days the company takes to pay suppliers. | – | 202 |
| Cash conversion cycle, daysCash conversion cycle. Receivable days plus inventory days less payable days: how long money is tied up between paying suppliers and being paid by customers. | – | 39 |
| Working capital daysWorking capital days. Assets turning to cash within a year, less cash, bank deposits and current investments, minus liabilities due within a year, less borrowings, divided by the year's revenue, times 365. | 33 | 15 |
| Asset turnoverAsset turnover. Revenue divided by average total assets: rupees of sales for each rupee of assets. | 0.29 | 0.29 |
| Assets per rupee of net worthAssets per rupee of net worth. Average total assets divided by average net worth: how far borrowings and other liabilities stretch the shareholders' money. | 1.93 | 2.05 |
| Sales per rupee of plantSales per rupee of plant. Revenue divided by the net block: rupees of sales for each rupee of plant in use. | 0.72 | 0.63 |
| Plant being built, % of plant in useCapital work in progress, % of net block. Plant still being built as a percentage of the plant in use. | 15.8% | 13.9% |
Growth and returns over 3, 5 and 10 years
Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2019.
- Return on assets, latest yearReturn on assets, latest year. Profit to the company's own shareholders in the latest year ÷ the average of that year's opening and closing total assets × 100; empty for a bank, a lender or an insurer, whose own return on assets is shown with its accounts.
- 7.6%
| Measure | 3 years |
|---|---|
| Return on equity, averageReturn on equity, average. 3 years: The plain average of the yearly return on equity over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly return on equity over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly return on equity over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 15.8% |
| Return on capital employed, averageReturn on capital employed, average. 3 years: The plain average of the yearly return on capital employed over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly return on capital employed over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly return on capital employed over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 13.0% |
| Operating margin, averageOperating margin, average. 3 years: The plain average of the yearly operating profit margin over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly operating profit margin over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly operating profit margin over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 53.5% |
| Net margin, averageNet margin, average. 3 years: The plain average of the yearly net profit margin over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly net profit margin over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly net profit margin over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 27.2% |
| Asset turnover, averageAsset turnover, average. 3 years: The plain average of the yearly asset turnover over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly asset turnover over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly asset turnover over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 0.29 |
| Interest cover, averageInterest cover, average. 3 years: The plain average of the yearly interest cover over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly interest cover over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly interest cover over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 5.7 |
| Debt to equity, averageDebt to equity, average. 3 years: The plain average of the yearly debt to equity over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly debt to equity over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly debt to equity over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 0.78 |
Accounting checks
Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.
| Check | Mar 2018 | Mar 2019 |
|---|---|---|
| Altman Z-scoreAltman Z-score. Working capital, reserves, operating profit, market value and sales, each over total assets, weighted and added: a published measure of financial strain.Published threshold 1.1 | 4.26 | 3.36 |
| Receivables growth less revenue growthReceivables growth less revenue growth. The growth in money owed by customers less the growth in revenue, in percentage points.Our threshold 0 percentage points | – | 99.00 |
| Other current assets growth less revenue growthOther current assets growth less revenue growth. The growth in other current assets less the growth in revenue, in percentage points.Our threshold 5 per cent of revenue | – | 0.18 |
| Assets under construction, years of additionsAssets under construction, years of additions. Capital work in progress divided by the year's additions to plant: how many years of building stand unfinished.Our threshold 2 years of additions | – | 0.45 |
| Effective tax rateEffective tax rate. Tax charged as a percentage of profit before tax.Published threshold 17.16 per cent | 34.13 | 20.51 |
A threshold marked as ours has no published figure; it is the line we read the check against.
Credit ratings
An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.
| Date | Agency | Borrowing rated | Rating | Outlook | Amount, ₹ Cr |
|---|---|---|---|---|---|
| 11 May 2026 | CARE Ratings Limited (opens in a new tab) | Debentures-Non Convertible DebenturesLong-term scale | CARE D; ISSUER NOT COOPERATING*Review, Re-affirm | 25 | |
| 11 May 2026 | CARE Ratings Limited (opens in a new tab) | Debentures-Non Convertible DebenturesLong-term scale | CARE D; ISSUER NOT COOPERATING*Review, Re-affirm | 8.34 | |
| 11 May 2026 | CARE Ratings Limited (opens in a new tab) | Debentures-Non Convertible DebenturesLong-term scale | CARE D; ISSUER NOT COOPERATING*Review, Re-affirm | 30 | |
| 11 May 2026 | CARE Ratings Limited (opens in a new tab) | Fund-based-Long TermLong-term scale | CARE D; ISSUER NOT COOPERATING*Review, Re-affirm | 280.74 |
The latest rating on each borrowing. The agency's name opens its reasoning for the rating.