Lactose (India) Ltd

Lactose (India) Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Lactose (India) Ltd

₹ 229 0.57%
13 Dec - close price
lactoseindialimited.com BSE: 524202
About

Lactose India Ltd is a pharmaceutical company established in 1991.It specializes in the manufacturing of Excipients (Lactose / Colour Coatings), Lactulose, Solid Dosage Forms, Liquid Dosage Forms, at Vadodara, Gujarat. It commands ~40 % market share. The Company then broadened its horizons to enter into the Contract / Toll manufacturing business. The company has also entered Finished Pharmaceutical Formulations & APIs.[1]

Key Points

Business Overview:[1]
Company manufactures Excipients (Lactose/Colour Coatings), Lactulose, Solid Dosage Forms, Liquid Dosage Forms, Finished Pharmaceutical Formulations & Active Pharmaceutical Ingredients, and is also into Contract manufacturing business.

Website BSE
  • Market Cap ₹ 323 Cr.
  • Current Price ₹ 229
  • High / Low ₹ 247 / 95.2
  • Stock P/E 34.6
  • Book Value ₹ 40.8
  • Dividend Yield 0.00 %
  • ROCE 18.0 %
  • ROE 15.5 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 58.4% CAGR over last 5 years
  • Debtor days have improved from 69.6 to 49.4 days.

Cons

  • Stock is trading at 5.61 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 8.59% over last 3 years.
  • Promoters have pledged 26.1% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs

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Quarterly Results

Figures in Rs. Crores

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
10.84 12.16 14.35 9.62 13.17 17.02 25.99 27.47 24.43 32.60 29.40 29.46 30.45
8.20 9.49 8.85 7.34 10.82 14.29 21.99 23.70 21.04 26.88 23.29 23.88 25.44
Operating Profit 2.64 2.67 5.50 2.28 2.35 2.73 4.00 3.77 3.39 5.72 6.11 5.58 5.01
OPM % 24.35% 21.96% 38.33% 23.70% 17.84% 16.04% 15.39% 13.72% 13.88% 17.55% 20.78% 18.94% 16.45%
0.11 0.10 0.30 0.23 0.20 0.16 0.14 0.28 0.26 0.28 0.31 0.22 0.30
Interest 1.27 1.26 1.23 1.24 1.31 1.55 1.84 1.55 1.31 1.21 1.16 1.26 1.37
Depreciation 1.12 1.18 1.19 1.16 1.17 1.17 1.19 1.19 1.20 1.20 1.63 1.31 1.33
Profit before tax 0.36 0.33 3.38 0.11 0.07 0.17 1.11 1.31 1.14 3.59 3.63 3.23 2.61
Tax % 13.89% 36.36% 23.96% 18.18% -14.29% 11.76% 20.72% 26.72% 28.95% 27.02% 33.88% 29.72% 22.22%
0.32 0.21 2.57 0.09 0.09 0.14 0.89 0.96 0.81 2.63 2.40 2.27 2.03
EPS in Rs 0.28 0.17 2.04 0.07 0.07 0.11 0.71 0.76 0.64 2.09 1.91 1.80 1.61
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
46 22 24 34 36 31 41 40 35 46 66 114 122
43 21 19 24 24 25 31 31 29 34 54 95 99
Operating Profit 3 1 5 10 11 6 10 9 6 12 11 19 22
OPM % 6% 5% 22% 30% 32% 18% 24% 23% 18% 27% 17% 17% 18%
1 2 0 1 1 1 0 0 0 1 1 1 1
Interest 1 1 3 4 4 5 5 6 5 5 6 5 5
Depreciation 2 2 2 3 3 4 4 4 4 5 5 5 5
Profit before tax 1 0 1 4 4 -3 1 0 -3 3 1 10 13
Tax % 30% 60% 42% 28% 36% -52% 33% 30% -24% 23% 18% 30%
1 0 0 3 3 -1 1 0 -2 2 1 7 9
EPS in Rs 1.28 0.04 0.59 3.17 2.87 -1.32 0.71 0.07 -2.17 1.95 0.96 5.39 7.41
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 18%
5 Years: 23%
3 Years: 48%
TTM: 28%
Compounded Profit Growth
10 Years: 19%
5 Years: 58%
3 Years: 68%
TTM: 233%
Stock Price CAGR
10 Years: 23%
5 Years: 68%
3 Years: 80%
1 Year: 132%
Return on Equity
10 Years: 4%
5 Years: 4%
3 Years: 9%
Last Year: 15%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 8 8 8 9 10 10 10 10 11 13 13 13 13
Reserves 7 7 7 12 17 22 24 24 24 27 28 35 39
8 23 39 37 34 38 36 39 46 41 38 39 46
24 22 25 26 24 13 11 10 7 10 22 14 16
Total Liabilities 47 60 80 83 85 83 82 84 88 90 101 101 113
15 28 62 61 64 63 60 62 59 59 56 55 54
CWIP 11 15 1 1 1 0 1 0 4 0 0 0 1
Investments 1 1 1 0 0 0 0 0 1 1 0 0 0
20 16 15 21 20 19 20 22 25 30 45 46 58
Total Assets 47 60 80 83 85 83 82 84 88 90 101 101 113

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
14 7 13 1 8 0 5 7 2 8 8 9
-14 -21 -23 3 -5 -2 -2 -3 -6 -1 -1 -2
1 13 10 -5 -3 4 -5 -4 5 -8 -8 -6
Net Cash Flow 1 -1 -1 -0 -0 3 -2 1 1 -0 -1 1

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 83 125 83 96 91 63 62 64 67 90 69 49
Inventory Days 47 69 129 344 440 456 384 471 587 343 344 119
Days Payable 119 308 273 340 559 330 242 202 153 195 275 59
Cash Conversion Cycle 11 -114 -61 100 -27 188 204 333 501 238 138 109
Working Capital Days 32 -20 -61 -33 -23 18 43 76 125 100 88 73
ROCE % 9% -3% 8% 13% 15% 4% 9% 8% 3% 10% 9% 18%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
52.50% 53.79% 53.79% 53.79% 53.79% 53.79% 53.79% 53.77% 53.66% 53.65% 53.65% 53.65%
0.64% 0.62% 0.62% 0.62% 0.62% 0.62% 0.62% 0.62% 0.62% 0.62% 0.62% 0.62%
46.87% 45.59% 45.59% 45.59% 45.59% 45.59% 45.59% 45.62% 45.73% 45.72% 45.74% 45.73%
No. of Shareholders 15,69615,83215,77715,94315,94015,90215,89815,95016,08816,24516,63016,998

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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