Bliss GVS Pharma Ltd

₹ 72.2 1.12%
May 20 - close price
About

Incorporated in 1984, Bliss GVS Pharma Limited is engaged in manufacturing, marketing, trading and export of pharmaceutical formulations in the form of suppositories, pessaries, capsules, tablets, and syrups.

Key Points

Business Overview:[1]
Company develops and manufactures pharmaceutical formulations mainly for sale in Africa. It manufactures more than 250 branded formulations in the anti-malarial, anti-bacterial, anti-biotic, anti-inflammatory, dermatological, contraceptive, anti-fungal, anti-diabetic, across Sub-Saharan African markets with brands such as Lonart, P-Alaxin, Funbact, and Lofnac, etc, which are supplied in various dosage forms.

  • Market Cap 749 Cr.
  • Current Price 72.2
  • High / Low 128 / 66.1
  • Stock P/E 23.9
  • Book Value 78.9
  • Dividend Yield 0.69 %
  • ROCE 14.3 %
  • ROE 3.85 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Stock is trading at 0.91 times its book value

Cons

  • The company has delivered a poor sales growth of -1.31% over past five years.
  • Promoter holding is low: 33.14%
  • Company has a low return on equity of 8.96% for last 3 years.
  • Company has high debtors of 191.79 days.
  • Promoter holding has decreased over last 3 years: -8.46%

* 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

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
212 210 148 120 130 152 164 132 168 196 216 167
163 185 115 104 110 120 126 115 134 167 182 147
Operating Profit 49 25 33 16 19 32 38 17 35 29 34 20
OPM % 23% 12% 22% 13% 15% 21% 23% 13% 21% 15% 16% 12%
2 13 6 5 7 3 4 6 8 5 -68 12
Interest 1 1 1 5 2 0 1 2 1 1 1 2
Depreciation 3 4 3 3 4 4 4 4 4 4 4 4
Profit before tax 47 34 34 13 20 30 37 17 37 30 -39 26
Tax % 30% 9% 26% 58% 18% 28% 26% 51% 29% 26% -25% 11%
Net Profit 34 31 24 9 16 21 26 6 24 21 -50 20
EPS in Rs 3.28 3.00 2.30 0.85 1.57 1.99 2.48 0.60 2.35 2.05 -4.83 1.89

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 Mar 2020 Mar 2021 Mar 2022
219 267 397 345 407 547 798 815 899 689 577 747
161 196 285 273 304 391 596 618 739 566 471 629
Operating Profit 58 71 111 71 103 156 203 197 160 123 107 118
OPM % 27% 27% 28% 21% 25% 29% 25% 24% 18% 18% 18% 16%
3 16 14 28 20 24 12 -8 35 26 20 -42
Interest 2 4 10 18 16 19 20 23 4 8 6 5
Depreciation 5 4 6 11 11 13 20 21 9 13 17 17
Profit before tax 53 79 109 71 96 148 175 145 182 129 104 54
Tax % 23% 34% 46% 42% 36% 32% 36% 39% 30% 26% 29% 57%
Net Profit 41 53 58 41 60 82 82 59 124 97 68 15
EPS in Rs 3.94 5.09 5.60 3.97 5.81 8.00 7.95 5.70 11.99 9.43 6.64 1.45
Dividend Payout % 15% 15% 12% 13% 12% 6% 8% 18% 8% 5% 8% 34%
Compounded Sales Growth
10 Years: 11%
5 Years: -1%
3 Years: -6%
TTM: 29%
Compounded Profit Growth
10 Years: -5%
5 Years: -18%
3 Years: -37%
TTM: -54%
Stock Price CAGR
10 Years: 13%
5 Years: -17%
3 Years: -24%
1 Year: -34%
Return on Equity
10 Years: 14%
5 Years: 12%
3 Years: 9%
Last Year: 4%

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 Mar 2020 Mar 2021 Mar 2022
10 10 10 10 10 10 10 10 10 10 10 10
Reserves 156 200 248 277 327 402 476 526 636 725 798 808
Borrowings 8 45 148 173 160 132 225 118 102 126 122 109
39 54 165 123 166 218 311 206 157 168 147 181
Total Liabilities 213 310 571 583 662 762 1,023 860 905 1,030 1,077 1,109
20 40 168 213 234 225 305 143 146 242 234 281
CWIP 8 7 1 4 0 9 4 0 47 0 2 22
Investments 0 1 0 0 0 0 0 0 0 0 0 2
186 262 402 365 428 527 714 717 712 788 840 803
Total Assets 213 310 571 583 662 762 1,023 860 905 1,030 1,077 1,109

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 Mar 2020 Mar 2021 Mar 2022
36 6 41 38 113 289 18 40 47 64 135
-22 -124 -11 -29 -50 -249 48 -79 -40 -45 -93
26 110 -8 -42 -40 -10 -76 17 -6 -21 -24
Net Cash Flow 40 -8 22 -34 23 30 -10 -22 0 -2 19

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 Mar 2020 Mar 2021 Mar 2022
Debtor Days 200 176 225 228 222 201 116 134 187 290 293 192
Inventory Days 33 29 58 70 69 55 50 55 46 64 110 116
Days Payable 90 95 212 176 165 153 100 55 47 75 82 86
Cash Conversion Cycle 143 111 71 121 126 102 67 134 186 279 321 221
Working Capital Days 168 137 140 176 197 146 81 185 182 276 319 178
ROCE % 39% 36% 20% 24% 32% 31% 29% 27% 19% 12% 14%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
41.53 41.53 41.60 41.60 41.60 41.60 33.31 33.31 33.24 33.19 33.14 33.14
24.54 24.31 24.11 24.16 23.96 23.37 23.34 22.83 21.24 21.01 19.59 17.33
4.35 3.53 3.65 2.96 2.96 5.73 5.74 6.72 6.72 6.67 6.66 6.66
29.57 30.62 30.64 31.28 31.48 29.31 37.61 37.14 38.80 39.13 40.61 42.87

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