Alembic Pharmaceuticals Ltd

Alembic Pharmaceuticals is a vertically integrated pharmaceutical company committed to deliver high-quality healthcare access to patients across the world.(Source : 201903 Annual Report Page No: 2)

Pros:
Company has a good return on equity (ROE) track record: 3 Years ROE 23.58%
Company has been maintaining a healthy dividend payout of 17.45%
Cons:
Company might be capitalizing the interest cost

Peer Comparison Sector: Pharmaceuticals // Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
805 647 590 762 755 838 811 1,095 905 849 897 1,135
609 549 503 585 594 631 640 746 700 696 672 774
Operating Profit 196 98 87 177 160 207 172 349 205 153 225 361
OPM % 24% 15% 15% 23% 21% 25% 21% 32% 23% 18% 25% 32%
Other Income 0 1 0 8 0 0 0 2 3 1 3 0
Interest 0 1 1 0 1 1 1 5 5 4 5 7
Depreciation 22 22 22 26 26 28 25 26 27 27 32 33
Profit before tax 174 76 64 159 134 179 145 320 177 122 191 322
Tax % 21% 22% 21% 23% 21% 19% 22% 22% 22% 12% 19% 17%
Net Profit 138 59 51 122 105 144 114 251 139 108 155 269
EPS in Rs 7.31 3.14 2.69 6.48 5.57 7.65 6.05 13.32 7.35 5.71 8.23 14.25
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
1,165 1,374 1,493 1,844 2,019 3,009 2,986 2,945 3,660 3,785
1,009 1,166 1,249 1,485 1,611 2,026 2,353 2,313 2,782 2,841
Operating Profit 156 209 244 359 408 983 633 633 879 944
OPM % 13% 15% 16% 19% 20% 33% 21% 21% 24% 25%
Other Income 4 13 13 4 3 7 3 7 6 8
Interest 28 38 24 10 3 4 3 2 15 20
Depreciation 30 34 35 40 44 72 83 102 106 119
Profit before tax 102 150 198 312 363 914 550 535 765 812
Tax % 20% 20% 21% 24% 21% 24% 22% 21% 20%
Net Profit 82 121 157 238 287 699 431 422 611 670
EPS in Rs 6.17 7.93 12.13 14.49 37.07 22.85 22.39 32.42 35.54
Dividend Payout % 7% 22% 30% 24% 23% 11% 18% 18% 17%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:14.70%
3 Years:6.75%
TTM:8.15%
Compounded Profit Growth
10 Years:%
5 Years:20.65%
3 Years:-4.47%
TTM:9.09%
Stock Price CAGR
10 Years:%
5 Years:5.15%
3 Years:-4.37%
1 Year:-10.15%
Return on Equity
10 Years:%
5 Years:30.17%
3 Years:23.58%
Last Year:24.82%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
38 38 38 38 38 38 38 38 38 38
Reserves 239 323 422 592 796 1,493 1,830 2,157 2,675 2,968
Borrowings 328 353 187 109 194 0 8 622 1,059 1,183
263 296 369 440 500 675 682 936 873 1,256
Total Liabilities 840 1,010 1,015 1,179 1,527 2,205 2,558 3,752 4,645 5,445
272 268 344 397 489 697 799 918 1,085 1,169
CWIP 26 58 32 21 83 92 348 741 1,107 1,372
Investments 3 3 3 33 33 37 103 299 506 606
538 681 635 728 922 1,378 1,308 1,794 1,946 2,298
Total Assets 840 1,010 1,015 1,179 1,527 2,205 2,558 3,752 4,645 5,445

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
105 125 274 263 180 848 327 305 809
-57 -56 -67 -111 -199 -292 -511 -794 -754
-47 -45 -229 -151 18 -276 -96 498 80
Net Cash Flow 1 24 -21 1 -1 280 -280 9 135

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 28% 33% 47% 41% 72% 32% 23% 24%
Debtor Days 63 50 57 52 61 45 57 77 54
Inventory Turnover 5.75 5.68 6.38 5.82 6.57 5.39 4.73 4.69