Abbott India Ltd

Abbott India is one of the leading multinational pharmaceutical companies in India and operates with an owned manufacturing facility in Goa and various independent contract/third party manufacturers based across the country.(Source : 201903 Annual Report Page No: 58)

Pros:
Company is virtually debt free.
Company has been maintaining a healthy dividend payout of 30.18%
Cons:
Stock is trading at 12.74 times its book value
The company has delivered a poor growth of 10.08% over past five years.

Peer Comparison Sector: Pharmaceuticals // Industry: Pharmaceuticals - Multinational

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Quarterly Results Figures in Rs. Crores

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
721 747 706 698 931 881 788 845 980 948 906 999
615 623 643 644 730 718 682 734 786 801 753 825
Operating Profit 106 123 63 53 201 163 107 111 194 146 153 174
OPM % 15% 16% 9% 8% 22% 19% 14% 13% 20% 15% 17% 17%
Other Income 14 14 15 24 15 19 59 22 25 38 29 30
Interest 0 0 2 1 1 1 2 1 1 0 1 2
Depreciation 4 4 4 4 4 4 4 4 4 4 5 15
Profit before tax 116 133 72 73 212 178 159 129 214 180 177 187
Tax % 35% 35% 42% 34% 35% 35% 37% 36% 36% 35% 36% 37%
Net Profit 75 86 42 48 138 115 100 82 138 117 113 117
EPS in Rs 35.30 40.26 19.79 22.71 64.72 54.30 47.10 38.78 64.79 55.08 53.28 55.03
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Nov 2007 Nov 2008 Nov 2009 Dec 2010 Dec 2011 Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
594 666 761 990 1,490 1,653 2,276 2,289 2,614 2,903 3,298 3,679 3,833
513 590 663 920 1,315 1,470 2,009 1,977 2,250 2,505 2,774 3,074 3,165
Operating Profit 82 76 97 70 176 183 267 312 365 398 525 605 668
OPM % 14% 11% 13% 7% 12% 11% 12% 14% 14% 14% 16% 16% 17%
Other Income 26 26 29 36 20 51 49 48 50 57 117 113 121
Interest 0 0 0 0 0 0 0 0 3 2 4 2 4
Depreciation 6 7 9 11 15 19 22 15 14 16 16 17 28
Profit before tax 102 94 117 94 180 215 295 344 398 436 621 699 757
Tax % 33% 33% 34% 35% 33% 33% 33% 34% 36% 37% 35% 36%
Net Profit 68 63 78 61 120 145 198 229 255 277 401 450 485
EPS in Rs 43.94 43.58 53.77 38.52 53.90 65.34 71.59 101.44 120.12 130.19 188.81 211.93 228.18
Dividend Payout % 37% 30% 30% 38% 30% 25% 25% 29% 29% 31% 29% 31%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:18.64%
5 Years:10.08%
3 Years:12.06%
TTM:11.23%
Compounded Profit Growth
10 Years:22.05%
5 Years:18.43%
3 Years:20.25%
TTM:11.36%
Stock Price CAGR
10 Years:32.75%
5 Years:30.07%
3 Years:37.04%
1 Year:58.43%
Return on Equity
10 Years:24.68%
5 Years:24.29%
3 Years:23.97%
Last Year:24.00%

Balance Sheet Figures in Rs. Crores

Nov 2007 Nov 2008 Nov 2009 Dec 2010 Dec 2011 Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
14 14 14 14 21 21 21 21 21 21 21 21 21
Reserves 217 208 258 292 523 626 767 916 1,174 1,366 1,672 1,987 2,111
Borrowings 1 1 0 0 0 0 0 0 0 0 0 0 51
100 131 119 152 258 272 363 445 431 688 735 946 993
Total Liabilities 332 353 391 457 802 919 1,151 1,382 1,627 2,075 2,428 2,955 3,176
35 48 49 50 80 109 98 96 108 110 81 105 149
CWIP 1 3 0 1 0 1 1 4 3 6 2 1 1
Investments 150 0 0 0 0 0 0 0 0 0 0 0 0
146 302 342 407 722 809 1,051 1,282 1,515 1,959 2,344 2,849 3,027
Total Assets 332 353 391 457 802 919 1,151 1,382 1,627 2,075 2,428 2,955 3,176

Cash Flows Figures in Rs. Crores

Nov 2007 Nov 2008 Nov 2009 Dec 2010 Dec 2011 Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
31 87 37 46 24 101 155 215 249 307 153 499
57 140 -1 -16 56 -59 -144 -187 -77 -155 -215 -257
-83 -81 -23 -27 -42 -42 -42 -58 -80 -90 -102 -143
Net Cash Flow 4 146 13 3 38 1 -31 -30 91 62 -165 99

Ratios Figures in Rs. Crores

Nov 2007 Nov 2008 Nov 2009 Dec 2010 Dec 2011 Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 41% 40% 48% 33% 42% 34% 39% 40% 38% 34% 41% 37%
Debtor Days 19 18 21 24 32 31 18 21 20 22 29 27
Inventory Turnover 8.42 7.46 7.82 8.57 7.77 6.37 7.31 6.16 6.93 6.67 6.07 6.17