Sandu Pharmaceuticals Ltd

About

Sandu Pharmaceuticals is mainly engaged in the business of manufacturing and trading of Ayurvedic Property Medicines under the brand name SANDU.(Source : 201903 Annual Report Page No:71)

  • Market Cap 36.4 Cr.
  • Current Price 51.4
  • High / Low 62.9 / 24.1
  • Stock P/E 23.2
  • Book Value 46.0
  • Dividend Yield 0.97 %
  • ROCE 5.67 %
  • ROE 3.53 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 1.12 times its book value
  • Company is expected to give good quarter

Cons

  • The company has delivered a poor sales growth of 8.62% over past five years.
  • Company has a low return on equity of 2.81% for last 3 years.
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Quarterly Results

Figures in Rs. Crores

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
12.21 14.19 11.92 12.35 11.83 13.18 11.02 11.67 17.22 15.77 14.10 17.34
11.53 13.73 11.54 11.95 11.36 12.87 10.74 11.42 16.63 15.27 13.27 16.60
Operating Profit 0.68 0.46 0.38 0.40 0.47 0.31 0.28 0.25 0.59 0.50 0.83 0.74
OPM % 5.57% 3.24% 3.19% 3.24% 3.97% 2.35% 2.54% 2.14% 3.43% 3.17% 5.89% 4.27%
Other Income 0.12 0.12 0.14 0.14 0.14 0.13 0.04 0.02 0.07 0.07 0.03 0.02
Interest 0.33 0.24 0.19 0.14 0.12 0.08 0.10 0.07 -0.03 0.01 0.06 0.04
Depreciation 0.16 0.16 0.16 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.13
Profit before tax 0.31 0.18 0.17 0.26 0.35 0.22 0.08 0.06 0.55 0.42 0.66 0.59
Tax % 32.26% 55.56% 94.12% -15.38% 34.29% 27.27% -112.50% 33.33% 27.27% 28.57% 28.79% 27.12%
Net Profit 0.21 0.09 0.02 0.31 0.23 0.16 0.17 0.04 0.40 0.29 0.46 0.42
EPS in Rs 0.30 0.13 0.03 0.44 0.32 0.23 0.24 0.06 0.56 0.41 0.65 0.59

Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
7.62 10.54 27.39 28.80 34.52 38.17 38.86 42.82 49.02 49.42 48.37 58.76 64.43
6.06 8.87 25.56 26.86 32.43 35.74 35.97 40.97 46.55 47.33 46.92 56.60 61.77
Operating Profit 1.56 1.67 1.83 1.94 2.09 2.43 2.89 1.85 2.47 2.09 1.45 2.16 2.66
OPM % 20.47% 15.84% 6.68% 6.74% 6.05% 6.37% 7.44% 4.32% 5.04% 4.23% 3.00% 3.68% 4.13%
Other Income 0.11 0.15 0.24 0.29 0.33 0.14 0.12 0.56 0.12 0.57 0.45 0.19 0.19
Interest 0.35 0.39 0.52 0.63 1.06 1.37 1.64 1.49 1.23 1.01 0.43 0.11 0.08
Depreciation 0.36 0.37 0.43 0.44 0.54 0.57 0.69 0.87 0.60 0.64 0.55 0.56 0.55
Profit before tax 0.96 1.06 1.12 1.16 0.82 0.63 0.68 0.05 0.76 1.01 0.92 1.68 2.22
Tax % 20.83% 22.64% 57.14% 32.76% 40.24% 34.92% 22.06% 1,000.00% 26.32% 34.65% 21.74% 35.12%
Net Profit 0.76 0.82 0.48 0.78 0.50 0.41 0.54 -0.44 0.56 0.67 0.72 1.09 1.57
EPS in Rs 1.07 1.16 0.68 1.10 0.71 0.58 0.76 -0.62 0.79 0.95 1.02 1.54 2.21
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 36.33%
Compounded Sales Growth
10 Years:19%
5 Years:9%
3 Years:6%
TTM:35%
Compounded Profit Growth
10 Years:3%
5 Years:14%
3 Years:28%
TTM:162%
Stock Price CAGR
10 Years:15%
5 Years:12%
3 Years:23%
1 Year:87%
Return on Equity
10 Years:3%
5 Years:2%
3 Years:3%
Last Year:4%

Balance Sheet

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
7.08 7.08 7.08 7.08 7.08 7.08 7.08 7.08 7.08 7.08 7.08 7.92
Reserves 8.55 9.37 9.85 10.63 11.13 11.06 11.60 20.33 21.00 21.71 22.16 24.67
Borrowings 3.03 2.73 3.82 8.33 9.99 12.47 11.39 10.56 9.42 6.17 1.25 0.02
1.72 2.87 4.84 7.27 8.67 10.91 11.33 8.46 7.03 8.67 10.92 14.35
Total Liabilities 20.38 22.05 25.59 33.31 36.87 41.52 41.40 46.43 44.53 43.63 41.41 46.96
6.51 6.48 6.46 6.09 9.09 8.36 7.81 17.49 17.57 17.04 16.60 16.17
CWIP 0.00 0.00 0.27 2.52 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.40 0.61 0.68 0.67 0.69 0.70 0.73 0.99 1.12 1.13 0.82 0.24
13.47 14.96 18.18 24.03 27.09 32.46 32.86 27.95 25.84 25.46 23.99 30.55
Total Assets 20.38 22.05 25.59 33.31 36.87 41.52 41.40 46.43 44.53 43.63 41.41 46.96

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1.06 1.20 0.32 4.67 -1.06 4.75 -1.43 4.91 1.23 3.74 6.20 7.59
-0.30 -0.46 -0.51 -2.10 -0.70 -0.18 0.05 -0.59 -0.62 -0.10 -0.37 -5.58
0.50 -0.69 -0.28 -0.07 -0.25 -1.90 -2.06 -2.33 -1.89 -4.26 -5.36 1.30
Net Cash Flow 1.26 0.05 -0.47 2.50 -2.01 2.67 -3.44 1.99 -1.28 -0.62 0.48 3.31

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 383.20 337.30 64.36 59.57 62.38 62.73 67.16 54.13 49.81 35.45 35.32 33.23
Inventory Days 275.67 171.07 248.27 207.67 233.52 210.09 206.51 152.04 146.77 191.00 208.65 117.86
Days Payable 71.08 54.97 41.92 78.35 76.75 103.39 100.86 58.22 38.75 60.93 83.69 70.57
Cash Conversion Cycle 587.79 453.40 270.72 188.89 219.16 169.43 172.82 147.94 157.84 165.52 160.28 80.52
Working Capital Days 520.20 385.78 176.30 178.70 188.95 176.24 204.48 149.94 98.44 84.42 81.42 39.63
ROCE % 7.25% 7.82% 8.06% 7.74% 6.93% 6.80% 7.75% 4.26% 5.14% 5.58% 4.13% 5.67%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
44.99 44.99 44.99 44.99 44.99 44.99 44.99 45.04 45.04 45.04 45.04 45.04
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
55.00 55.00 55.00 55.00 55.00 55.00 55.00 54.95 54.95 54.95 54.95 54.95

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