Cadila Healthcare Ltd

About [ edit ]

Cadila Healthcare operates as an integrated pharmaceutical company with business encompassing the entire value chain in the research, development, production, marketing and distribution of pharmaceutical products.(Source : 202003 Annual Report Page No: 105)

Key Points [ edit ]
  • Market Cap 51,146 Cr.
  • Current Price 500
  • High / Low 532 / 318
  • Stock P/E 25.6
  • Book Value 115
  • Dividend Yield 0.70 %
  • ROCE 11.8 %
  • ROE 13.8 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 23.34%

Cons

  • Stock is trading at 4.35 times its book value
  • The company has delivered a poor sales growth of 10.50% over past five years.
  • Company might be capitalizing the interest cost
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
3,238 2,894 2,961 3,578 3,733 3,496 3,367 3,638 3,752 3,640 3,820 3,796
2,399 2,249 2,273 2,738 2,922 2,864 2,731 2,940 2,961 2,824 2,957 2,989
Operating Profit 839 645 688 840 811 632 636 698 791 815 863 807
OPM % 26% 22% 23% 23% 22% 18% 19% 19% 21% 22% 23% 21%
Other Income 44 101 30 31 28 23 -251 14 -8 22 -104 28
Interest 15 35 36 46 77 89 90 80 82 68 46 27
Depreciation 144 142 148 154 156 172 172 174 178 177 179 180
Profit before tax 724 570 535 672 606 394 122 457 522 593 534 627
Tax % 20% 21% 23% 24% 21% 20% 32% 20% 21% 21% 21% 18%
Net Profit 591 460 418 511 460 304 107 374 392 454 473 527
EPS in Rs 5.77 4.50 4.08 4.99 4.49 2.97 1.05 3.65 3.83 4.43 4.62 5.15

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
2,862 3,574 4,631 5,263 6,358 7,224 8,651 9,427 9,376 11,905 13,166 14,253 15,008
2,353 2,863 3,602 4,179 5,228 6,022 6,898 7,095 7,474 9,076 10,192 11,502 11,731
Operating Profit 509 711 1,028 1,084 1,129 1,202 1,753 2,332 1,902 2,829 2,973 2,751 3,277
OPM % 18% 20% 22% 21% 18% 17% 20% 25% 20% 24% 23% 19% 22%
Other Income 70 109 11 51 33 32 48 112 127 113 201 -218 -63
Interest 98 82 70 183 169 90 68 53 45 91 194 342 223
Depreciation 112 134 127 158 185 201 287 292 373 539 599 696 715
Profit before tax 370 604 842 794 809 942 1,446 2,099 1,612 2,312 2,382 1,495 2,277
Tax % 18% 12% 13% 14% 15% 11% 18% 8% 8% 24% 22% 21%
Net Profit 303 505 711 653 654 804 1,151 1,934 1,488 1,776 1,849 1,177 1,846
EPS in Rs 2.96 4.93 6.95 6.37 6.38 7.85 11.24 18.89 14.53 17.35 18.06 11.49 18.03
Dividend Payout % 20% 14% 18% 24% 24% 23% 21% 17% 22% 20% 19% 30%
Compounded Sales Growth
10 Years:15%
5 Years:11%
3 Years:15%
TTM:5%
Compounded Profit Growth
10 Years:11%
5 Years:4%
3 Years:-1%
TTM:53%
Stock Price CAGR
10 Years:11%
5 Years:9%
3 Years:9%
1 Year:42%
Return on Equity
10 Years:23%
5 Years:21%
3 Years:18%
Last Year:14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
68 68 102 102 102 102 102 102 102 102 102 102 102
Reserves 1,167 1,560 2,069 2,484 2,842 3,337 4,149 5,597 6,858 8,642 10,284 10,273 11,652
Borrowings 1,267 1,090 1,092 2,289 2,918 2,700 2,651 2,442 5,207 5,407 7,899 7,999 5,644
846 1,024 1,348 1,548 1,512 1,847 2,144 2,208 2,937 3,632 4,945 5,102 7,152
Total Liabilities 3,348 3,743 4,611 6,423 7,374 7,986 9,047 10,350 15,104 17,783 23,231 23,477 24,550
1,530 1,684 1,833 2,857 3,026 3,124 3,352 3,748 5,755 6,483 12,164 12,230 11,908
CWIP 189 248 431 484 736 892 798 951 1,543 1,527 837 742 861
Investments 25 21 21 24 114 87 154 416 435 746 674 765 939
1,605 1,790 2,326 3,058 3,498 3,885 4,743 5,235 7,371 9,028 9,556 9,740 10,843
Total Assets 3,348 3,743 4,611 6,423 7,374 7,986 9,047 10,350 15,104 17,783 23,231 23,477 24,550

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
219 695 683 511 603 903 994 1,894 1,312 919 1,282 2,505
-409 -372 -466 -1,200 -682 -438 -465 -860 -2,872 -974 -3,977 -1,012
350 -325 -172 860 286 -529 -351 -935 2,316 52 1,885 -1,094
Net Cash Flow 159 -1 44 171 207 -64 178 99 756 -3 -811 399

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 22% 27% 31% 24% 18% 18% 23% 29% 16% 18% 15% 12%
Debtor Days 58 48 60 64 55 57 67 68 89 98 110 94
Inventory Turnover 1.87 1.84 2.00 1.90 2.13 2.21 2.31 2.27 2.29 2.08 1.96 1.89

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
74.79 74.79 74.79 74.79 74.79 74.88 74.88 74.88 74.88 74.88 74.88 74.88
8.73 8.32 8.19 8.12 4.69 4.49 4.58 4.41 4.56 4.38 5.24 5.23
8.56 8.92 9.02 9.06 11.60 12.51 12.62 12.90 12.59 12.50 11.72 11.30
0.09 0.10 0.12 0.13 0.13 0.13 0.13 0.14 0.19 0.19 0.19 0.19
7.84 7.87 7.88 7.90 8.79 8.00 7.80 7.67 7.78 8.05 7.97 8.40

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