Divis Laboratories Ltd

Divis Laboratories Ltd

₹ 3,541 -1.02%
27 Feb 3:31 p.m.
About

Incorporated in 1990, Divis Laboratories Ltd manufactures and exports API's, Intermediates and Nutraceutical ingredients[1]

Key Points

Business Overview:[1]
Company manufactures Generic Active pharmaceuticals ingredients, Custom synthesis of APIs & Intermediates along with Nutraceuticals for Global Pharmaceutical & Nutraceutical industry. These are segmented as:
a) Generic APIs:[2]
Company manufactures 30 Large Volume Generic APIs in 10’s to 100’s/1000’s of Tons each year and exports them to 100+ countries. Further, there are 10 APIs in various stages of R&D and pilot scale development
b) Custom Synthesis:[3]
Company under Custom Synthesis of APIs and Intermediates for global companies with a portfolio of products across diverse therapeutic areas. 12 out of top 20 Big Pharma Companies across US, EU and Japan have been associated with Divi’s for 10+ years
c) Nutraceutical:[4][5]
Company's Vishakhapatnam unit produces active ingredient and finished forms of Carotenoids. It is currently supplying carotenoids to all major food, dietary supplement and feed manufacturers globally. Company also offers customized ingredient solutions in liquids, beadlets and powder forms

  • Market Cap 94,003 Cr.
  • Current Price 3,541
  • High / Low 4,074 / 2,730
  • Stock P/E 68.0
  • Book Value 478
  • Dividend Yield 0.84 %
  • ROCE 19.4 %
  • ROE 14.9 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 32.4%

Cons

  • Stock is trading at 7.52 times its book value

* 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,701 1,788 1,961 1,988 2,493 2,518 2,255 1,855 1,708 1,951 1,778 1,909 1,855
1,010 1,072 1,109 1,169 1,396 1,414 1,406 1,234 1,299 1,464 1,274 1,430 1,366
Operating Profit 691 716 852 818 1,097 1,104 849 621 409 487 504 479 489
OPM % 41% 40% 43% 41% 44% 44% 38% 33% 24% 25% 28% 25% 26%
19 24 36 19 17 52 88 80 113 66 81 86 95
Interest 0 0 0 0 0 0 0 0 0 0 0 1 0
Depreciation 68 70 73 77 80 81 85 86 87 87 93 95 95
Profit before tax 642 669 814 760 1,034 1,076 852 615 435 466 492 469 489
Tax % 27% 25% 32% 20% 13% 17% 18% 20% 30% 31% 28% 26% 27%
471 502 557 606 902 895 702 493 306 321 356 348 358
EPS in Rs 17.73 18.91 20.99 22.84 33.99 33.70 26.44 18.57 11.53 12.09 13.41 13.11 13.49
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,864 2,145 2,532 3,115 3,776 4,064 3,891 4,946 5,394 6,969 8,960 7,768 7,493
1,173 1,329 1,514 1,942 2,354 2,615 2,622 3,072 3,568 4,102 5,075 5,397 5,534
Operating Profit 691 816 1,018 1,173 1,423 1,450 1,269 1,874 1,826 2,867 3,885 2,370 1,959
OPM % 37% 38% 40% 38% 38% 36% 33% 38% 34% 41% 43% 31% 26%
56 45 68 38 93 72 107 154 186 57 112 344 328
Interest 5 3 3 3 5 3 2 5 7 2 2 2 1
Depreciation 62 77 92 136 118 123 142 169 186 256 312 343 370
Profit before tax 681 781 991 1,072 1,393 1,395 1,231 1,855 1,819 2,666 3,684 2,369 1,916
Tax % 22% 23% 22% 21% 19% 24% 29% 27% 24% 26% 20% 23%
533 602 773 852 1,126 1,060 877 1,353 1,377 1,984 2,960 1,823 1,383
EPS in Rs 20.09 22.67 29.13 32.07 42.41 39.95 33.04 50.96 51.85 74.75 111.52 68.69 52.10
Dividend Payout % 32% 33% 34% 31% 24% 25% 30% 31% 31% 27% 27% 44%
Compounded Sales Growth
10 Years: 14%
5 Years: 15%
3 Years: 13%
TTM: -10%
Compounded Profit Growth
10 Years: 12%
5 Years: 16%
3 Years: 11%
TTM: -42%
Stock Price CAGR
10 Years: 18%
5 Years: 17%
3 Years: 2%
1 Year: 25%
Return on Equity
10 Years: 22%
5 Years: 21%
3 Years: 22%
Last Year: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 27 27 27 27 53 53 53 53 53 53 53 53 53
Reserves 2,105 2,474 2,937 3,469 4,240 5,304 5,872 6,904 7,257 9,242 11,675 12,714 12,624
55 33 18 27 42 36 63 106 39 5 4 3 5
570 605 729 883 562 762 797 973 1,183 1,471 1,628 1,654 1,601
Total Liabilities 2,757 3,139 3,710 4,405 4,898 6,155 6,785 8,036 8,531 10,771 13,360 14,425 14,283
738 909 1,222 1,309 1,439 1,559 1,996 2,088 2,782 3,704 4,325 4,723 4,654
CWIP 182 303 144 218 264 444 120 492 920 711 470 212 496
Investments 477 408 502 733 803 1,631 1,889 1,946 971 0 72 77 80
1,359 1,519 1,842 2,145 2,392 2,521 2,780 3,511 3,858 6,356 8,493 9,413 9,053
Total Assets 2,757 3,139 3,710 4,405 4,898 6,155 6,785 8,036 8,531 10,771 13,360 14,425 14,283

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
338 480 557 826 1,038 1,150 776 954 1,216 1,947 1,912 2,460
-204 -255 -305 -521 -406 -1,140 -478 -685 -83 75 -2,195 -2,708
-131 -231 -248 -303 -631 2 -314 -246 -1,091 -35 -532 -797
Net Cash Flow 3 -5 3 3 0 13 -17 23 41 1,987 -816 -1,045

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 97 87 104 87 85 81 95 86 96 88 99 84
Inventory Days 319 382 372 350 293 307 314 347 316 329 341 352
Days Payable 75 73 61 68 56 104 96 96 100 117 96 89
Cash Conversion Cycle 341 396 416 368 322 284 313 336 312 300 344 347
Working Capital Days 145 152 159 143 162 151 182 177 182 152 177 188
ROCE % 34% 33% 36% 33% 36% 29% 22% 29% 25% 32% 35% 19%

Shareholding Pattern

Numbers in percentages

18 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
51.95% 51.95% 51.95% 51.95% 51.94% 51.94% 51.94% 51.94% 51.94% 51.93% 51.93% 51.92%
19.87% 20.60% 20.70% 19.30% 18.45% 16.52% 15.40% 15.15% 14.67% 14.69% 14.60% 14.85%
16.74% 16.56% 16.36% 17.73% 18.32% 19.98% 20.75% 20.62% 21.00% 21.15% 21.65% 21.78%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.05% 0.07% 0.10% 0.10% 0.10%
11.45% 10.89% 11.00% 11.02% 11.28% 11.56% 11.88% 12.23% 12.31% 12.13% 11.72% 11.33%
No. of Shareholders 2,08,2031,93,8832,23,4032,74,5053,09,3973,46,9053,79,2574,14,8474,33,6214,02,1553,73,8603,54,482

* 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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