Vikram Thermo (India) Ltd

About

Vikram Thermo (India) is a leading in manufacturing and selling of basic pharma co-polymer 'Drug Coat' and 'Diphenenyle Oxide'.

  • Market Cap 118 Cr.
  • Current Price 188
  • High / Low 220 / 62.5
  • Stock P/E 11.3
  • Book Value 87.0
  • Dividend Yield 0.80 %
  • ROCE 17.4 %
  • ROE 14.8 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is virtually debt free.

Cons

  • The company has delivered a poor growth of 8.55% over past five years.
  • Company has a low return on equity of 10.92% for last 3 years.
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Quarterly Results

Figures in Rs. Crores

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
10.68 13.84 12.58 13.48 13.93 14.11 16.73 14.08 15.72 12.64 13.41 21.04
9.39 13.02 11.45 11.53 12.45 12.47 12.77 10.86 11.91 10.26 11.10 13.85
Operating Profit 1.29 0.82 1.13 1.95 1.48 1.64 3.96 3.22 3.81 2.38 2.31 7.19
OPM % 12.08% 5.92% 8.98% 14.47% 10.62% 11.62% 23.67% 22.87% 24.24% 18.83% 17.23% 34.17%
Other Income 0.00 0.07 0.01 0.00 0.02 0.05 0.03 0.02 0.21 0.05 0.21 0.17
Interest 0.11 0.22 0.28 0.27 0.32 0.30 0.25 0.26 0.19 0.18 0.16 0.15
Depreciation 0.36 0.45 0.41 0.43 0.45 0.46 0.48 0.49 0.49 0.50 0.50 0.50
Profit before tax 0.82 0.22 0.45 1.25 0.73 0.93 3.26 2.49 3.34 1.75 1.86 6.71
Tax % 4.88% 4.55% 75.56% 29.60% 26.03% 34.41% 26.38% 27.71% 18.26% 24.57% 25.27% 25.34%
Net Profit 0.78 0.21 0.11 0.89 0.54 0.60 2.40 1.80 2.73 1.31 1.39 5.01
EPS in Rs 1.40 0.38 0.20 1.59 0.97 1.07 4.30 2.87 4.35 2.09 2.22 7.99
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Figures in Rs. Crores

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
15 19 28 35 37 42 37 38 45 49 58 56 63
12 15 23 26 28 33 32 31 37 44 49 44 47
Operating Profit 3 4 6 9 9 9 5 8 8 5 9 12 16
OPM % 22% 21% 19% 26% 25% 22% 15% 20% 19% 10% 15% 21% 25%
Other Income 0 0 0 0 0 0 0 0 0 0 0 0 1
Interest 0 0 0 0 0 0 0 0 0 1 1 1 1
Depreciation 1 1 1 1 1 1 1 1 1 2 2 2 2
Profit before tax 2 3 5 9 8 8 5 6 7 3 6 9 14
Tax % 37% 34% 34% 33% 33% 33% 34% 34% 35% 25% 28% 23%
Net Profit 1 2 3 6 6 6 3 4 5 2 4 7 10
EPS in Rs 2.60 3.58 5.41 10.35 10.07 10.23 5.59 7.60 8.44 4.19 7.94 11.54 16.65
Dividend Payout % 38% 28% 28% 14% 15% 15% 13% 20% 20% 12% 19% 13%
Compounded Sales Growth
10 Years:12%
5 Years:9%
3 Years:7%
TTM:7%
Compounded Profit Growth
10 Years:14%
5 Years:18%
3 Years:16%
TTM:96%
Stock Price CAGR
10 Years:22%
5 Years:22%
3 Years:18%
1 Year:122%
Return on Equity
10 Years:16%
5 Years:12%
3 Years:11%
Last Year:15%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
6 6 6 6 6 6 6 6 6 6 6 6
Reserves 3 5 7 11 16 21 23 27 32 33 37 48
Borrowings 2 2 2 1 2 2 4 1 6 12 14 6
3 4 6 6 7 8 8 8 10 9 9 13
Total Liabilities 14 16 20 24 30 36 41 41 53 60 66 73
7 7 8 9 9 9 10 17 21 30 34 34
CWIP 0 0 0 0 4 7 9 1 7 4 0 6
Investments 0 0 0 0 1 0 0 0 0 0 0 1
7 10 13 15 17 20 22 22 25 26 32 32
Total Assets 14 16 20 24 30 36 41 41 53 60 66 73

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
2 1 3 6 5 5 2 2 6 3 4 13
-0 -0 -2 -2 -4 -4 -3 -1 -10 -8 -2 -10
-2 -0 -1 -2 -0 -1 1 -4 4 4 1 -4
Net Cash Flow 0 0 -0 2 1 0 -0 -2 -0 -0 3 -1

Ratios

Figures in Rs. Crores

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 % 26% 28% 36% 53% 40% 33% 16% 20% 19% 8% 14% 17%
Debtor Days 123 137 113 92 87 95 131 139 115 139 138 129
Inventory Turnover 5.79 7.02 8.91 7.01 5.89 6.77 5.98 5.64 5.04 5.71 7.27 4.79

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
61.12 61.12 61.13 61.13 61.13 61.13 65.40 65.40 65.40 65.40 65.40 65.40
38.88 38.88 38.86 38.86 38.86 38.86 34.59 34.59 34.59 34.59 34.59 34.60

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