Bilcare Ltd

₹ 64.4 3.31%

25 Apr 4:01 p.m.

About

Incorporated in 1987, Bilcare Ltd. is engaged in the business of Pharmaceutical Packaging, Global Clinical Services, R&D services and Anti Counterfeit Technology (nCid).

Key Points

Products & Services offered:
a) Pharma Packaging:^[1]
Pharma Packaging is available in two broad categories viz., Polymer based Packaging Films and Aluminum based Packaging Foils. Their sub-categories are:
Blister Films
Blister Foils
Lidding Foils
CR Foils
Laminates
b) Global Clinical Supplies and Services:^[2]
Company handles domestic and global manufacturing of IMPs and Placebos, Primary
and secondary packaging with various blinding techniques, IWRS, Storage at variable temperatures.

Website BSE

Market Cap ₹ 152 Cr.
Current Price ₹ 64.4
High / Low ₹ 95.4 / 42.5
Stock P/E
Book Value ₹ 178
Dividend Yield 0.00 %
ROCE -1.38 %
ROE -3.89 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 0.36 times its book value

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -44.2% over past five years.
Promoter holding is low: 30.0%
Company has a low return on equity of -33.3% over last 3 years.
Company has high debtors of 247 days.

* 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: Packaging Industry: Packaging

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	79.83	80.67	86.94	106.53	106.29	130.03	3.30	2.82	3.24	4.62	3.66	4.59	5.06
	72.27	78.52	80.73	94.18	99.21	118.92	3.36	3.48	3.34	8.98	5.11	6.64	6.28
Operating Profit	7.56	2.15	6.21	12.35	7.08	11.11	-0.06	-0.66	-0.10	-4.36	-1.45	-2.05	-1.22
OPM %	9.47%	2.67%	7.14%	11.59%	6.66%	8.54%	-1.82%	-23.40%	-3.09%	-94.37%	-39.62%	-44.66%	-24.11%
	1.53	61.71	0.50	34.33	2.29	5.43	-0.18	0.39	-3.11	515.98	15.70	-1.81	0.33
Interest	18.92	21.25	18.29	17.34	15.66	16.90	0.08	0.09	0.08	0.20	0.16	0.08	0.19
Depreciation	8.66	8.69	8.61	8.65	8.67	8.71	0.94	0.94	0.96	1.67	0.44	0.52	0.56
Profit before tax	-18.49	33.92	-20.19	20.69	-14.96	-9.07	-1.26	-1.30	-4.25	509.75	13.65	-4.46	-1.64
Tax %	12.76%	-4.86%	7.78%	-7.06%	10.70%	12.46%	105.56%	103.85%	21.18%	22.70%	1.68%	9.42%	5.49%
	-16.13	35.57	-18.62	22.15	-13.36	-7.94	0.07	0.05	-3.35	394.04	13.42	-4.04	-1.55
EPS in Rs	-6.85	15.11	-7.91	9.41	-5.67	-3.37	0.03	0.02	-1.42	167.35	5.70	-1.72	-0.66
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	753	727	401	331	315	286	258	240	212	304	430	14	18
	530	544	337	310	300	288	258	239	219	279	393	21	27
Operating Profit	223	183	64	21	15	-3	-0	1	-8	25	37	-7	-9
OPM %	30%	25%	16%	6%	5%	-1%	-0%	0%	-4%	8%	9%	-51%	-51%
	6	-27	30	4	-106	74	260	6	38	67	43	515	530
Interest	80	102	147	132	32	48	56	72	69	75	68	0	1
Depreciation	36	42	68	106	101	79	304	248	88	35	35	5	3
Profit before tax	113	12	-120	-212	-223	-56	-101	-314	-127	-18	-24	503	517
Tax %	34%	43%	-1%	13%	65%	-17%	21%	-0%	19%	110%	24%	22%
	75	7	-121	-184	-78	-66	-80	-315	-102	2	-18	391	402
EPS in Rs	31.75	2.79	-51.59	-78.01	-33.22	-28.00	-33.95	-133.89	-43.46	0.76	-7.55	165.97	170.67
Dividend Payout %	6%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-33%
5 Years:	-44%
3 Years:	-60%
TTM:	-87%

Compounded Profit Growth
10 Years:	%
5 Years:	15%
3 Years:	25%
TTM:	-113%

Stock Price CAGR
10 Years:	1%
5 Years:	20%
3 Years:	5%
1 Year:	42%

Return on Equity
10 Years:	-31%
5 Years:	-72%
3 Years:	-33%
Last Year:	-4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	24	24	24	24	24	24	24	24	24	24	24	24	24
Reserves	931	944	831	643	599	533	453	138	36	37	20	387	396
	649	1,381	1,228	1,151	976	898	857	868	709	678	690	8	8
	281	338	554	802	441	518	285	346	205	189	193	36	36
Total Liabilities	1,885	2,687	2,636	2,621	2,039	1,973	1,618	1,375	973	928	927	454	464
	575	637	1,255	1,217	1,177	1,147	844	594	506	473	446	16	14
CWIP	34	785	182	125	0	0	0	0	0	0	0	0	0
Investments	679	694	683	682	553	553	514	513	173	89	81	294	296
	597	571	517	596	310	272	260	268	293	366	400	144	154
Total Assets	1,885	2,687	2,636	2,621	2,039	1,973	1,618	1,375	973	928	927	454	464

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	8	144	177	-17	28	37	7	62	71	-0	46	397
	-148	-865	-31	-14	9	-48	78	2	11	85	6	181
	98	726	-153	23	-35	6	-87	-60	-83	-82	-55	-571
Net Cash Flow	-43	5	-7	-9	2	-5	-1	3	-1	2	-4	7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	168	51	95	80	69	62	58	56	67	87	79	247
Inventory Days	101	107	153	215	85	51	51	68	57	85	71	60
Days Payable	109	159	165	181	77	86	114	156	129	116	100	439
Cash Conversion Cycle	160	-1	83	114	77	27	-5	-31	-5	56	50	-132
Working Capital Days	170	130	-12	-105	-225	-321	-75	-163	-98	-0	-4	-641
ROCE %	12%	7%	-0%	-4%	-4%	-5%	-21%	-20%	-9%	0%	2%	-1%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	30.01%	30.01%	30.01%	30.01%	30.01%	30.01%	30.01%	30.01%	30.01%	30.01%	30.01%	30.01%
	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%
	69.94%	69.94%	69.94%	69.95%	69.94%	69.94%	69.95%	69.95%	69.95%	69.94%	69.95%	69.95%
No. of Shareholders	21,670	21,870	21,928	22,322	23,158	23,236	23,419	22,322	21,691	19,875	19,181	19,116

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	32.97%	30.01%	30.01%	30.01%	30.01%	30.01%	30.01%	30.01%
	0.05%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%
	66.99%	69.94%	69.94%	69.94%	69.94%	69.95%	69.95%	69.95%
No. of Shareholders	18,141	17,008	16,530	15,827	20,017	22,322	22,322	19,116

* 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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Bilcare Ltd

Bilcare Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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