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 22.21%
Company has been maintaining a healthy dividend payout of 18.24%
Cons:
Company might be capitalizing the interest cost

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
777 741 648 789 840 853 863 1,127 1,018 927 949 1,241
632 606 547 610 652 680 712 825 776 749 724 895
Operating Profit 145 135 101 179 188 173 151 302 242 178 225 346
OPM % 19% 18% 16% 23% 22% 20% 18% 27% 24% 19% 24% 28%
Other Income 0 0 0 8 0 1 0 2 4 3 -30 0
Interest 1 2 1 0 1 1 2 6 6 5 5 7
Depreciation 21 22 22 26 26 32 28 29 29 30 35 36
Profit before tax 124 112 79 161 161 141 122 270 211 146 155 303
Tax % 32% 15% 20% 23% 19% 27% 26% 26% 19% 10% 23% 17%
Net Profit 87 93 67 122 131 94 90 200 170 124 124 246
EPS in Rs 4.59 4.94 3.54 6.45 6.93 4.98 4.80 10.61 9.01 6.58 6.56 13.06
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
1,202 1,465 1,520 1,863 2,056 3,166 3,105 3,131 3,935 4,135
1,042 1,246 1,268 1,506 1,653 2,159 2,489 2,488 3,061 3,144
Operating Profit 160 219 252 358 403 1,007 616 643 874 991
OPM % 13% 15% 17% 19% 20% 32% 20% 21% 22% 24%
Other Income 4 13 4 4 4 7 1 7 9 -22
Interest 28 38 15 10 4 5 5 3 18 23
Depreciation 30 34 35 40 44 72 83 105 115 130
Profit before tax 107 161 206 311 359 936 529 541 749 815
Tax % 20% 19% 20% 24% 21% 23% 23% 22% 21%
Net Profit 85 130 165 236 283 720 403 413 584 664
EPS in Rs 6.68 8.34 11.98 14.30 38.20 21.39 21.89 31.00 35.21
Dividend Payout % 6% 20% 29% 24% 23% 9% 19% 18% 18%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:16.13%
3 Years:7.51%
TTM:12.27%
Compounded Profit Growth
10 Years:%
5 Years:19.85%
3 Years:-6.84%
TTM:33.70%
Stock Price CAGR
10 Years:%
5 Years:5.69%
3 Years:-3.52%
1 Year:-2.72%
Return on Equity
10 Years:%
5 Years:28.88%
3 Years:22.21%
Last Year:23.58%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

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 259 357 465 638 847 1,560 1,865 2,182 2,681 2,924
Borrowings 328 353 187 109 264 114 89 708 1,128 1,232
270 324 375 449 509 741 754 1,096 1,053 1,413
Total Liabilities 868 1,071 1,064 1,234 1,657 2,452 2,745 4,024 4,900 5,608
272 268 344 397 547 708 799 993 1,158 1,491
CWIP 26 58 32 21 83 93 396 1,010 1,551 1,623
Investments 3 3 3 3 2 87 50 42 49 17
566 742 685 813 1,025 1,565 1,499 1,979 2,141 2,476
Total Assets 868 1,071 1,064 1,234 1,657 2,452 2,745 4,024 4,900 5,608

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
95 142 265 240 172 948 329 312 812
-57 -56 -67 -81 -256 -307 -486 -884 -756
-47 -45 -229 -151 87 -224 -129 503 59
Net Cash Flow -9 41 -31 8 3 417 -286 -69 115

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 29% 31% 44% 38% 66% 29% 22% 23%
Debtor Days 61 50 56 54 64 40 40 61 45
Inventory Turnover 6.13 5.79 6.45 5.93 6.65 5.16 4.58 4.63