FDC Ltd

FDC Ltd

₹ 425 0.24%
28 Mar - close price
About

FDC (Fairdeal Corporation) Ltd Limited (found in 1936) is among India’s leading fully integrated pharmaceutical companies. The Company is a pioneer in the manufacture of specialized formulations, and among the world’s foremost manufacturers and marketers of Oral Rehydration Salts (ORS). Some of FDC’s leading brands in India include Zifi, Electral, Enerzal, Vitcofol, Pyrimon, Zocon, Zathrin, Zipod, Cotaryl and Mycoderm in the domestic and international markets.[1]

Key Points

Revenue Breakup
Anti-infective medicines contribute 42% of revenues, followed by gastro intestinal 24%, vitamins/ minerals 7%, ophthalmology 6%, cardiac 7%, dermatology 4% and others 11%.[1]

  • Market Cap 6,918 Cr.
  • Current Price 425
  • High / Low 488 / 255
  • Stock P/E 23.4
  • Book Value 121
  • Dividend Yield 0.00 %
  • ROCE 13.2 %
  • ROE 10.0 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 10.8% over past five years.
  • Company has a low return on equity of 12.6% over last 3 years.

* 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

Standalone Figures in Rs. Crores / View Consolidated

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
332 312 445 396 341 337 493 446 407 431 530 480 452
263 274 331 324 298 319 413 395 360 377 410 401 370
Operating Profit 69 37 114 72 43 17 80 51 47 54 120 79 82
OPM % 21% 12% 26% 18% 13% 5% 16% 11% 11% 12% 23% 16% 18%
35 22 23 31 13 12 19 29 19 10 30 27 25
Interest 1 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 9 9 10 9 9 9 9 10 10 10 10 10 10
Profit before tax 94 49 127 93 47 19 89 69 54 53 139 95 96
Tax % 25% 14% 21% 21% 32% 24% 18% 25% 27% 30% 22% 24% 19%
71 42 100 74 32 14 73 51 39 37 109 72 78
EPS in Rs 4.19 2.49 5.93 4.36 1.87 0.85 4.40 3.09 2.38 2.24 6.54 4.42 4.81
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
698 764 836 877 986 1,008 1,061 1,074 1,328 1,323 1,516 1,775 1,893
536 581 630 680 759 766 835 854 1,033 999 1,269 1,520 1,559
Operating Profit 163 183 206 197 227 242 225 220 295 324 247 255 335
OPM % 23% 24% 25% 22% 23% 24% 21% 20% 22% 25% 16% 14% 18%
27 48 38 44 40 44 45 51 71 97 79 54 93
Interest 1 2 3 2 1 1 1 1 3 3 3 4 4
Depreciation 18 28 25 38 34 35 35 33 37 38 37 39 39
Profit before tax 170 201 217 201 232 250 234 236 325 380 285 266 384
Tax % 22% 21% 38% 27% 27% 25% 28% 27% 24% 23% 23% 24%
133 158 134 146 169 187 168 172 247 294 220 201 296
EPS in Rs 7.25 8.67 7.56 8.20 9.50 10.52 9.65 9.84 14.43 17.45 13.01 12.11 18.01
Dividend Payout % 28% 26% 30% 28% 24% 21% 0% 0% 6% 0% 0% 0%
Compounded Sales Growth
10 Years: 9%
5 Years: 11%
3 Years: 10%
TTM: 13%
Compounded Profit Growth
10 Years: 4%
5 Years: 3%
3 Years: -7%
TTM: 66%
Stock Price CAGR
10 Years: 13%
5 Years: 21%
3 Years: 16%
1 Year: 66%
Return on Equity
10 Years: 14%
5 Years: 13%
3 Years: 13%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 18 18 18 18 18 18 18 18 17 17 17 17 16
Reserves 670 762 823 912 1,059 1,246 1,245 1,416 1,525 1,705 1,932 1,964 1,955
2 1 1 1 1 1 1 1 15 14 31 28 24
161 177 209 209 181 195 224 192 249 207 274 327 336
Total Liabilities 851 959 1,051 1,140 1,259 1,459 1,488 1,625 1,806 1,943 2,254 2,335 2,331
280 277 272 381 671 674 670 678 670 685 701 695 688
CWIP 11 7 18 29 20 6 13 12 24 19 104 198 224
Investments 347 422 423 496 325 491 472 585 665 790 886 806 731
214 252 338 234 243 287 333 349 447 448 563 637 689
Total Assets 851 959 1,051 1,140 1,259 1,459 1,488 1,625 1,806 1,943 2,254 2,335 2,331

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
140 149 149 127 171 153 148 104 239 210 162 165
-106 -105 -55 -89 -73 -144 20 -109 -85 -84 -147 4
-58 -62 -75 -47 -97 0 -169 -0 -142 -126 -10 -180
Net Cash Flow -24 -18 19 -10 1 10 -2 -6 12 -1 5 -11

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 21 21 27 25 24 28 26 28 34 30 19 25
Inventory Days 132 117 115 133 134 148 166 183 180 189 210 180
Days Payable 74 72 91 95 85 81 101 82 101 68 94 100
Cash Conversion Cycle 79 67 51 64 73 95 92 130 113 151 135 106
Working Capital Days 25 25 3 12 22 24 28 44 42 49 46 49
ROCE % 25% 24% 25% 21% 22% 21% 19% 18% 22% 22% 15% 13%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
69.35% 69.35% 69.35% 69.36% 69.36% 69.50% 69.49% 69.49% 69.49% 69.49% 69.66% 69.66%
5.71% 4.76% 4.51% 4.47% 4.52% 4.34% 3.99% 3.77% 3.80% 2.06% 2.42% 2.43%
4.02% 4.48% 4.65% 5.46% 5.86% 6.07% 6.77% 7.76% 8.27% 9.13% 8.12% 7.76%
20.92% 21.40% 21.48% 20.72% 20.27% 20.09% 19.75% 18.98% 18.44% 19.32% 19.80% 20.15%
No. of Shareholders 40,32949,33549,88953,58286,50365,31863,17259,87157,01256,71756,92855,341

* 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.

Click on the line-items to see the names of individual entities.

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