Biocon Ltd

Biocon Ltd

₹ 335 -0.99%
14 Jun - close price
About

Biocon is engaged in the business of manufacture of biotechnology products and research services.(Source : 202003-01 Annual Report Page No:195)

Key Points

Biologics (41%)[1]
Has one of the largest biosimilar pipelines comprising 28 molecules to be launched over the next decade. [2]

It is among the world’s Top 15 bio-manufacturing companies. Only Indian company to get FDA approval for 3 biosimilar molecules (Trastuzumab, Pegfilgrastim, and Insulin Glargine) [3]

The historic approval of the world’s first interchangeable biosimila-bGlargine, in the U.S. was the key highlight of FY22. [4]

  • Market Cap 40,196 Cr.
  • Current Price 335
  • High / Low 349 / 218
  • Stock P/E 39.0
  • Book Value 165
  • Dividend Yield 0.15 %
  • ROCE 6.12 %
  • ROE 5.47 %
  • Face Value 5.00

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 18.0%
  • Company's working capital requirements have reduced from 69.3 days to 10.2 days

Cons

  • Tax rate seems low
  • Company has a low return on equity of 5.97% over last 3 years.
  • Company might be capitalizing the interest cost
  • Company has high debtors of 154 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,842 1,761 1,840 2,174 2,409 2,140 2,320 2,941 3,774 3,423 3,462 3,954 3,917
1,476 1,427 1,445 1,733 1,870 1,783 1,877 2,352 2,817 2,741 2,745 3,051 3,004
Operating Profit 366 333 395 441 539 356 442 589 957 681 717 903 913
OPM % 20% 19% 21% 20% 22% 17% 19% 20% 25% 20% 21% 23% 23%
218 47 35 48 26 78 48 -193 152 94 134 587 40
Interest 34 20 22 15 10 20 30 120 249 233 248 267 227
Depreciation 184 195 202 206 212 218 231 301 364 358 389 414 407
Profit before tax 366 166 206 269 342 197 229 -26 497 184 214 808 319
Tax % 19% 35% 22% 18% 17% 15% 64% 19% 17% 19% 19% 7% 30%
296 108 160 220 284 167 82 -21 414 149 173 753 223
EPS in Rs 2.11 0.70 1.15 1.56 1.99 1.20 0.39 -0.35 2.61 0.84 1.05 5.50 1.13
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2,485 2,877 3,090 3,347 3,891 4,123 5,514 6,300 7,143 8,184 11,174 14,756
1,942 2,190 2,394 2,957 2,912 3,294 4,121 4,725 5,562 6,391 8,762 11,541
Operating Profit 543 687 696 390 980 829 1,394 1,575 1,581 1,793 2,412 3,214
OPM % 22% 24% 23% 12% 25% 20% 25% 25% 22% 22% 22% 22%
255 56 158 639 173 228 340 228 260 72 18 854
Interest 8 2 9 29 26 62 71 65 58 68 419 974
Depreciation 179 204 221 249 277 385 448 552 715 814 1,113 1,569
Profit before tax 610 538 624 751 850 610 1,215 1,186 1,068 983 897 1,525
Tax % 16% 20% 15% 19% 19% 26% 17% 27% 21% 22% 28% 15%
513 431 528 609 688 453 1,003 871 846 772 643 1,298
EPS in Rs 4.24 3.45 4.14 4.59 5.10 3.10 7.54 6.24 6.17 5.40 3.85 8.52
Dividend Payout % 29% 24% 20% 18% 10% 16% 7% 0% 0% 9% 39% 6%
Compounded Sales Growth
10 Years: 18%
5 Years: 22%
3 Years: 27%
TTM: 32%
Compounded Profit Growth
10 Years: 10%
5 Years: 7%
3 Years: 12%
TTM: 64%
Stock Price CAGR
10 Years: 15%
5 Years: 6%
3 Years: -6%
1 Year: 37%
Return on Equity
10 Years: 8%
5 Years: 7%
3 Years: 6%
Last Year: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 100 100 100 100 100 300 300 600 600 600 600 600
Reserves 2,595 2,927 3,171 3,934 4,738 4,881 5,798 6,106 7,027 7,832 17,267 19,183
267 864 1,117 2,478 2,302 2,264 2,422 2,715 4,481 5,147 18,019 16,277
1,454 1,860 1,988 1,947 2,254 2,545 3,672 4,993 6,382 6,763 15,856 20,010
Total Liabilities 4,416 5,751 6,375 8,458 9,394 9,990 12,192 14,414 18,490 20,342 51,742 56,071
1,510 1,525 1,630 1,748 3,626 3,700 4,471 5,971 6,364 6,569 29,468 34,652
CWIP 312 1,206 1,677 2,240 839 1,303 1,899 2,196 2,800 4,110 7,317 3,985
Investments 587 765 230 902 1,253 675 1,012 966 1,952 1,588 2,069 1,000
2,007 2,255 2,839 3,569 3,676 4,312 4,811 5,281 7,374 8,074 12,888 16,434
Total Assets 4,416 5,751 6,375 8,458 9,394 9,990 12,192 14,414 18,490 20,342 51,742 56,071

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
471 561 211 371 640 662 1,155 1,283 1,160 1,177 1,852 2,954
-358 -904 -491 -1,138 -510 -684 -703 -1,505 -3,651 -1,662 -14,260 -1,004
-9 426 186 1,068 -178 -240 -242 388 2,564 242 13,049 -2,333
Net Cash Flow 105 83 -94 300 -47 -261 210 165 72 -243 641 -383

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 75 76 91 78 83 94 86 71 77 92 117 154
Inventory Days 139 116 132 153 160 161 199 263 304 309 423 368
Days Payable 121 107 125 172 187 224 231 243 246 216 397 467
Cash Conversion Cycle 93 85 98 59 57 31 53 91 134 184 143 55
Working Capital Days 21 -0 12 31 34 18 15 8 80 112 85 10
ROCE % 15% 15% 12% 9% 12% 8% 13% 12% 10% 9% 6%

Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
60.64% 60.64% 60.64% 60.64% 60.64% 60.64% 60.64% 60.64% 60.64% 60.64% 60.64% 60.64%
15.91% 15.74% 16.00% 15.62% 16.31% 15.79% 14.42% 10.20% 9.52% 7.97% 6.55% 5.63%
7.52% 7.44% 7.37% 8.36% 7.72% 7.76% 8.63% 11.89% 12.59% 14.08% 14.51% 13.69%
15.02% 15.46% 15.34% 14.76% 14.60% 15.17% 15.74% 16.70% 16.77% 16.92% 17.96% 19.74%
0.91% 0.72% 0.65% 0.63% 0.73% 0.63% 0.58% 0.55% 0.49% 0.39% 0.33% 0.32%
No. of Shareholders 3,38,8273,63,4473,64,5023,47,9113,41,0163,69,8163,91,3824,11,0864,12,4414,15,0464,34,3394,70,261

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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