ERIS Lifesciences Ltd

Eris Lifesciences Limited is an India-based company, which is engaged in manufacturing, marketing and selling of generics within the chronic and acute categories of the Indian Pharmaceutical Market.

Pros:
Company has reduced debt.
Company has good consistent profit growth of 33.86% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 38.32%
Cons:
Though the company is reporting repeated profits, it is not paying out dividend
Tax rate seems low
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Pharmaceuticals // Industry: Pharmaceuticals - Indian - Formulations

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
199 184 184 185 249 209 212 251 264 252 215 274
125 112 135 114 151 128 140 162 163 159 153 170
Operating Profit 74 73 49 71 98 81 72 89 101 94 62 105
OPM % 37% 39% 27% 39% 39% 39% 34% 35% 38% 37% 29% 38%
Other Income 9 6 5 7 6 6 7 4 6 10 12 3
Interest 1 0 0 0 0 3 8 7 6 5 4 1
Depreciation 5 6 6 5 5 7 9 7 8 10 11 12
Profit before tax 78 72 48 74 99 77 62 78 92 89 58 95
Tax % 11% 5% 2% 4% 6% 3% 10% 8% 7% 10% 7% 11%
Net Profit 69 68 47 71 93 75 56 71 85 80 54 84
EPS in Rs 5.15 6.75 5.43 4.06 5.18 6.20 5.83 3.93 6.11
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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 TTM
274 393 509 546 597 750 856 982 1,006
215 307 410 424 425 480 533 637 645
Operating Profit 59 86 99 121 172 269 322 345 361
OPM % 21% 22% 19% 22% 29% 36% 38% 35% 36%
Other Income 1 1 4 3 3 25 26 32 31
Interest 1 1 0 0 0 1 11 23 17
Depreciation 3 3 5 16 20 23 26 36 41
Profit before tax 55 83 98 109 154 270 312 317 335
Tax % 33% 30% 28% 18% 13% 9% 6% 8%
Net Profit 37 58 70 89 134 247 294 291 304
EPS in Rs 21.39 21.15 22.07
Dividend Payout % 0% 0% 0% 0% 63% 0% 0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:14.06%
3 Years:18.05%
TTM:9.18%
Compounded Profit Growth
10 Years:%
5 Years:33.86%
3 Years:30.16%
TTM:2.89%
Return on Equity
10 Years:%
5 Years:39.26%
3 Years:38.32%
Last Year:28.80%

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
0 0 0 0 0 14 14 14
Reserves 48 106 176 266 299 553 848 1,137
Borrowings 5 3 1 1 0 1 377 176
49 63 94 91 98 159 222 227
Total Liabilities 102 172 271 357 397 727 1,460 1,554
23 27 75 72 71 232 771 761
CWIP 0 0 0 0 0 0 0 3
Investments 13 47 84 167 190 303 365 356
65 98 112 119 136 192 324 435
Total Assets 102 172 271 357 397 727 1,460 1,554

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
30 38 90 90 131 200 235 223
-19 -36 -83 -92 -44 -184 -590 -5
-10 -3 -2 0 -84 -24 363 -221
Net Cash Flow 1 -1 5 -2 4 -8 8 -3

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 104% 66% 48% 54% 62% 35% 26%
Debtor Days 19 15 16 16 16 24 28 31
Inventory Turnover 11.95 11.56 10.65 11.35 14.49 14.11 13.26