Abbott India Ltd

About

Abbott India is engaged in the business of manufacturing, selling, distribution and marketing of Pharmaceuticals.

  • Market Cap 45,797 Cr.
  • Current Price 21,552
  • High / Low 23,934 / 13,960
  • Stock P/E 64.9
  • Book Value 1,225
  • Dividend Yield 0.56 %
  • ROCE 35.2 %
  • ROE 27.4 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 22.02% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.24%
  • Company has been maintaining a healthy dividend payout of 68.29%

Cons

  • Stock is trading at 17.60 times its book value
  • The company has delivered a poor sales growth of 10.51% over past five 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
980 948 906 999 1,055 1,078 961 1,064 1,055 1,095 1,096 1,218
786 801 753 825 851 839 823 831 814 854 890 953
Operating Profit 194 146 153 174 204 240 138 233 241 242 206 265
OPM % 20% 15% 17% 17% 19% 22% 14% 22% 23% 22% 19% 22%
Other Income 25 38 29 30 29 28 28 28 22 15 16 19
Interest 1 0 1 2 2 2 3 4 5 4 5 5
Depreciation 4 4 5 15 15 15 15 14 14 15 15 16
Profit before tax 214 180 177 187 216 251 149 242 244 238 202 264
Tax % 36% 35% 36% 37% 18% 25% 25% 26% 26% 26% 24% 26%
Net Profit 138 117 113 117 178 187 111 180 181 177 152 196
EPS in Rs 64.79 55.08 53.27 55.03 83.92 87.86 52.22 84.87 85.05 83.36 71.75 92.13

Profit & Loss

Figures in Rs. Crores

Nov 2009 Dec 2010 Dec 2011 Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
761 990 1,490 1,653 2,276 2,289 2,614 2,903 3,298 3,679 4,093 4,310 4,464
663 920 1,315 1,451 2,009 1,977 2,250 2,505 2,774 3,074 3,336 3,388 3,510
Operating Profit 97 70 176 202 267 312 365 398 525 605 757 922 953
OPM % 13% 7% 12% 12% 12% 14% 14% 14% 16% 16% 18% 21% 21%
Other Income 29 36 19 33 49 48 50 57 117 113 114 81 72
Interest 0 0 0 0 0 0 3 2 4 2 9 18 19
Depreciation 9 11 15 19 22 15 14 16 16 17 60 58 60
Profit before tax 117 94 180 215 295 344 398 436 621 699 803 926 947
Tax % 34% 35% 33% 33% 33% 34% 36% 37% 35% 36% 26% 25%
Net Profit 78 61 120 145 198 229 255 277 401 450 593 691 706
EPS in Rs 56.68 44.56 56.66 68.10 93.39 107.75 120.12 130.19 188.82 211.93 279.04 325.04 332.29
Dividend Payout % 30% 38% 30% 25% 25% 29% 29% 31% 29% 31% 90% 85%
Compounded Sales Growth
10 Years:16%
5 Years:11%
3 Years:9%
TTM:7%
Compounded Profit Growth
10 Years:27%
5 Years:22%
3 Years:20%
TTM:8%
Stock Price CAGR
10 Years:31%
5 Years:35%
3 Years:44%
1 Year:34%
Return on Equity
10 Years:26%
5 Years:26%
3 Years:26%
Last Year:27%

Balance Sheet

Figures in Rs. Crores

Nov 2009 Dec 2010 Dec 2011 Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
14 14 21 21 21 21 21 21 21 21 21 21
Reserves 258 292 523 626 767 916 1,174 1,366 1,672 1,987 2,410 2,581
Borrowings 0 0 0 0 0 0 0 0 0 0 175 153
117 148 253 260 351 436 421 679 723 932 940 1,086
Total Liabilities 388 453 797 907 1,139 1,374 1,616 2,066 2,416 2,941 3,547 3,840
49 50 80 109 98 96 108 110 81 105 270 251
CWIP 0 1 0 1 1 4 3 6 2 1 2 1
Investments 0 0 0 0 0 0 0 0 0 0 0 0
339 403 717 798 1,040 1,274 1,505 1,950 2,333 2,835 3,275 3,589
Total Assets 388 453 797 907 1,139 1,374 1,616 2,066 2,416 2,941 3,547 3,840

Cash Flows

Figures in Rs. Crores

Nov 2009 Dec 2010 Dec 2011 Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
37 46 24 101 155 215 249 307 153 499 626 727
-1 -16 56 -59 -144 -187 -77 -155 -215 -257 -401 -72
-23 -27 -42 -42 -42 -58 -80 -90 -102 -143 -217 -582
Net Cash Flow 13 3 38 1 -31 -30 91 62 -165 99 8 73

Ratios

Figures in Rs. Crores

Nov 2009 Dec 2010 Dec 2011 Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 21 24 32 31 18 21 20 22 29 27 28 21
Inventory Days 74 73 108 99 101 107 91 107 112 106 83 110
Days Payable 31 33 51 38 38 54 56 101 92 116 104 116
Cash Conversion Cycle 64 64 89 92 80 74 54 28 49 17 8 14
Working Capital Days 24 25 46 49 36 30 32 21 63 22 14 10
ROCE % 48% 33% 42% 34% 39% 40% 38% 34% 41% 37% 35% 35%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99
2.06 1.90 1.72 1.68 1.82 1.64 1.34 1.15 1.10 1.01 0.25 0.24
7.01 7.14 7.49 6.90 6.26 6.08 5.98 6.34 5.82 5.53 6.74 6.88
15.95 15.98 15.80 16.43 16.93 17.30 17.69 17.52 18.09 18.47 18.03 17.89

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