Smruthi Organics Ltd

smruthiorganics.com BSE: 540686
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Smruthi Organics is engaged in the manufacture of Active Pharmaceutical ingredients (API's) i.e. Bulk Drugs and Drug Intermediates unless otherwise stated.

Website BSE
  • Market Cap ₹ 252 Cr.
  • Current Price ₹ 660
  • High / Low ₹ 700 / 65.1
  • Stock P/E 15.9
  • Book Value ₹ 135
  • Dividend Yield 0.45 %
  • ROCE 25.0 %
  • ROE 21.4 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 33.36% CAGR over last 5 years
  • Debtor days have improved from 86.60 to 68.42 days.

Cons

  • Promoter holding has decreased by -0.47% over last quarter
  • Company has a low return on equity of 11.77% for last 3 years.

Peer comparison

Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
30.77 28.31 28.39 38.90 40.77 32.45 37.87 30.77 29.98 29.35 36.84 31.59
34.99 24.84 25.30 34.48 36.20 27.59 33.30 29.97 24.97 23.70 27.50 23.51
Operating Profit -4.22 3.47 3.09 4.42 4.57 4.86 4.57 0.80 5.01 5.65 9.34 8.08
OPM % -13.71% 12.26% 10.88% 11.36% 11.21% 14.98% 12.07% 2.60% 16.71% 19.25% 25.35% 25.58%
Other Income 0.10 0.66 0.55 0.52 0.19 0.06 0.03 4.12 0.21 0.04 0.11 0.23
Interest 0.87 0.92 0.84 0.87 0.95 0.86 0.92 0.78 0.62 0.43 0.22 0.21
Depreciation 1.15 1.02 0.93 1.06 1.13 1.02 1.02 1.11 1.24 1.10 1.12 0.82
Profit before tax -6.14 2.19 1.87 3.01 2.68 3.04 2.66 3.03 3.36 4.16 8.11 7.28
Tax % 23.94% 29.68% 44.92% 22.92% 29.85% 27.30% 28.57% 20.13% 43.15% 28.37% 27.87% 29.95%
Net Profit -4.66 1.54 1.03 2.32 1.89 2.21 1.90 2.42 1.92 2.99 5.84 5.11
EPS in Rs -12.21 4.04 2.70 6.08 4.95 5.79 4.98 6.34 5.03 7.84 15.31 13.39
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
72 124 157 205 181 92 77 74 79 97 137 131 128
63 108 136 179 162 90 72 63 69 94 121 116 100
Operating Profit 9 15 22 26 19 2 5 11 10 3 17 15 28
OPM % 13% 12% 14% 13% 10% 2% 6% 14% 13% 3% 12% 12% 22%
Other Income 0 0 0 0 0 1 0 0 1 0 1 4 1
Interest 5 5 4 5 4 5 6 5 4 4 4 3 1
Depreciation 3 4 4 5 5 6 5 4 4 4 4 4 4
Profit before tax 2 7 14 16 10 -9 -6 2 3 -5 10 12 23
Tax % 19% 23% 29% 34% 37% 32% 33% 55% 39% 31% 30% 30%
Net Profit 1 6 10 11 6 -6 -4 1 2 -3 7 8 16
EPS in Rs 3.91 14.55 25.42 27.89 16.64 -16.12 -9.99 1.89 4.14 -8.41 17.98 22.15 41.57
Dividend Payout % 26% 14% 10% 11% 12% 0% 0% 0% 0% 0% 11% 14%
Compounded Sales Growth
10 Years:1%
5 Years:11%
3 Years:18%
TTM:-10%
Compounded Profit Growth
10 Years:4%
5 Years:33%
3 Years:75%
TTM:88%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:79%
1 Year:560%
Return on Equity
10 Years:10%
5 Years:9%
3 Years:12%
Last Year:21%

Balance Sheet

Figures in Rs. Crores

Corporate actions
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
4 4 4 4 4 4 4 4 4 4 4 4 4
Reserves 9 14 23 32 37 31 26 27 28 25 33 39 48
Borrowings 42 30 30 32 47 43 45 37 33 31 28 16 10
25 38 42 50 40 48 34 35 20 25 37 30 29
Total Liabilities 80 85 98 118 129 126 109 103 85 85 101 88 91
25 28 32 32 45 41 35 32 30 30 30 32 31
CWIP 2 0 0 4 1 1 1 1 1 1 2 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
52 57 66 81 83 83 72 69 54 54 69 56 60
Total Assets 80 85 98 118 129 126 109 103 85 85 101 88 91

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
10 21 12 12 5 9 9 14 9 5 12 21
-6 -4 -7 -8 -13 -2 -1 0 -0 -3 -4 -5
-4 -17 -6 -4 6 -6 -8 -14 -9 -2 -5 -17
Net Cash Flow 0 1 -1 0 -1 2 -1 -0 0 0 2 -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 % 12% 23% 35% 35% 18% -5% 0% 9% 10% -1% 21% 25%
Debtor Days 65 47 55 65 64 102 103 95 97 95 97 68
Inventory Turnover 1.62 2.87 3.91 5.19 3.94 2.31 2.82 2.68 2.95 3.48 4.62 4.73

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
63.82 63.83 63.83 63.83 63.83 63.83 63.83 63.83 63.83 63.83 63.97 63.50
36.18 36.17 36.17 36.17 36.17 36.17 36.17 36.17 36.17 36.17 36.03 36.50

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