Ambalal Sarabhai Enterprises Ltd

About [ edit ]

Ambalal Sarabhai Enterprises is engaged in manufacturing of Pharmaceuticals.(Source : 201903 Annual Report Page No: 28)

  • Market Cap 208 Cr.
  • Current Price 27.2
  • High / Low 31.0 / 14.9
  • Stock P/E 7.80
  • Book Value 7.35
  • Dividend Yield 0.00 %
  • ROCE 24.9 %
  • ROE 36.6 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 22.98% CAGR over last 5 years

Cons

  • Stock is trading at 3.69 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 1.31% over past five years.
  • Promoter holding is low: 30.76%
  • Tax rate seems low
  • Company has a low return on equity of 9.79% for last 3 years.
  • Earnings include an other income of Rs.32.53 Cr.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
42.44 36.00 34.36 36.74 44.78 30.95 32.27 31.71 38.56 26.72 42.42 46.05
51.91 35.84 33.67 34.53 42.00 32.26 33.03 33.59 38.60 26.62 39.08 45.41
Operating Profit -9.47 0.16 0.69 2.21 2.78 -1.31 -0.76 -1.88 -0.04 0.10 3.34 0.64
OPM % -22.31% 0.44% 2.01% 6.02% 6.21% -4.23% -2.36% -5.93% -0.10% 0.37% 7.87% 1.39%
Other Income 20.58 1.78 1.72 2.23 1.99 3.29 2.23 3.35 15.93 2.70 9.80 4.10
Interest 0.08 0.89 0.60 1.18 0.57 0.92 0.99 0.55 0.85 0.81 0.78 0.81
Depreciation 0.57 0.52 0.51 0.53 0.54 0.51 0.50 0.52 1.03 0.65 0.59 0.67
Profit before tax 10.46 0.53 1.30 2.73 3.66 0.55 -0.02 0.40 14.01 1.34 11.77 3.26
Tax % 61.76% 58.49% 85.38% 1.83% 68.03% -5.45% 600.00% -17.50% 7.85% 30.60% 8.24% 38.04%
Net Profit 4.00 0.22 0.18 2.68 1.17 0.60 0.10 0.46 12.91 0.93 10.81 2.02
EPS in Rs 0.52 0.03 0.02 0.35 0.15 0.08 0.01 0.06 1.68 0.12 1.41 0.26

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
78 75 80 89 100 105 124 132 134 125 150 133 154
226 99 98 101 111 112 129 145 137 137 144 136 150
Operating Profit -148 -24 -18 -12 -10 -8 -4 -13 -3 -12 6 -3 4
OPM % -191% -32% -23% -14% -10% -7% -3% -10% -2% -9% 4% -2% 3%
Other Income 179 34 26 15 16 2 13 95 -2 25 8 24 33
Interest 12 2 13 10 9 11 10 4 5 3 3 4 3
Depreciation 2 3 3 3 14 3 5 17 4 2 2 3 3
Profit before tax 17 5 -7 -10 -16 -20 -6 62 -14 8 8 15 30
Tax % 58% 105% -52% -11% -11% -3% -13% 22% -34% 84% 48% 6%
Net Profit 7 -0 -11 -11 -18 -20 -7 48 -18 1 4 14 27
EPS in Rs 0.93 -0.03 -1.47 -1.40 -2.39 -2.64 -0.87 6.28 -2.38 0.17 0.55 1.83 3.47
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:6%
5 Years:1%
3 Years:-0%
TTM:10%
Compounded Profit Growth
10 Years:10%
5 Years:23%
3 Years:48%
TTM:1045%
Stock Price CAGR
10 Years:14%
5 Years:23%
3 Years:26%
1 Year:46%
Return on Equity
10 Years:%
5 Years:-24%
3 Years:10%
Last Year:37%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
77 77 77 77 77 77 77 77 77 77 77 77 77
Reserves -21 -21 -29 -40 -59 -79 -86 -38 -51 -50 -46 -32 -20
Borrowings 9 14 20 29 39 42 46 47 42 43 40 31 28
170 148 121 114 110 128 132 94 93 128 144 111 118
Total Liabilities 235 218 188 180 167 167 169 180 160 197 214 186 203
93 105 112 111 98 94 91 72 72 59 58 57 57
CWIP 12 4 1 0 0 0 1 9 3 14 24 0 0
Investments 2 2 2 2 1 1 1 8 5 5 9 18 27
128 106 73 66 67 71 76 92 80 119 123 110 119
Total Assets 235 218 188 180 167 167 169 180 160 197 214 186 203

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-98 -23 -11 -13 -3 11 -8 -75 5 -7 19 -7
144 20 15 11 -0 -1 10 80 -3 18 -9 17
-43 3 -4 1 3 -8 -1 -3 -6 -2 -6 -14
Net Cash Flow 3 0 -0 -1 -1 2 1 2 -4 8 3 -4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % -146% -29% -18% -17% -14% -16% -19% -44% -1% -5% 16% 25%
Debtor Days 135 111 0 90 101 95 74 83 79 100 84 79
Inventory Turnover 5.13 5.20 5.31 4.80 4.41 4.19 4.67 4.84 5.64 5.18 6.32 5.22

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
30.75 30.75 30.76 30.76 30.76 30.76 30.76 30.76 30.76 30.76 30.76 30.76
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
69.25 69.25 69.24 69.24 69.24 69.24 69.23 69.24 69.24 69.24 69.24 69.24

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