FDC Ltd

About [ edit ]

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.#

Key Points [ edit ]
  • Market Cap 5,579 Cr.
  • Current Price 330
  • High / Low 379 / 230
  • Stock P/E 18.0
  • Book Value 102
  • Dividend Yield 0.24 %
  • ROCE 21.2 %
  • ROE 15.7 %
  • Face Value 1.00

Pros

  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of 8.59% over past five years.
  • Earnings include an other income of Rs.119.81 Cr.
  • Dividend payout has been low at 1.90% of profits over last 3 years
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
290 274 256 271 344 346 321 333 308 371 340
218 216 200 228 265 272 236 304 205 266 266
Operating Profit 72 57 56 43 78 74 85 29 104 106 74
OPM % 25% 21% 22% 16% 23% 21% 26% 9% 34% 28% 22%
Other Income 9 9 14 13 10 17 31 38 28 19 35
Interest 0 0 0 0 1 1 1 1 1 1 1
Depreciation 9 9 8 8 9 10 9 9 9 10 9
Profit before tax 72 57 63 48 78 80 106 57 121 114 99
Tax % 32% 29% 26% 24% 28% 32% 30% 2% 24% 23% 24%
Net Profit 49 40 46 35 56 54 74 55 92 88 75
EPS in Rs 2.80 2.31 2.62 2.00 3.22 3.16 4.34 3.24 5.36 5.15 4.46

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
588 631 711 710 772 845 888 994 1,013 1,074 1,089 1,341 1,353
474 465 545 545 591 638 690 765 775 842 861 1,050 1,041
Operating Profit 115 167 166 164 181 207 199 229 238 232 228 292 312
OPM % 19% 26% 23% 23% 23% 24% 22% 23% 23% 22% 21% 22% 23%
Other Income 8 31 28 28 46 39 46 39 50 45 43 69 120
Interest 2 1 1 1 2 3 2 1 1 1 1 3 3
Depreciation 13 16 17 18 28 25 39 34 35 35 33 37 38
Profit before tax 108 181 175 172 198 218 204 232 252 241 237 320 391
Tax % 20% 17% 14% 22% 22% 38% 27% 27% 25% 28% 28% 25%
Net Profit 86 149 151 134 155 135 148 169 189 174 170 240 311
EPS in Rs 4.58 8.17 7.33 8.49 7.61 8.33 9.48 10.60 9.95 9.74 14.03 18.21
Dividend Payout % 27% 22% 25% 27% 26% 30% 27% 24% 21% 0% 0% 6%
Compounded Sales Growth
10 Years:8%
5 Years:9%
3 Years:10%
TTM:6%
Compounded Profit Growth
10 Years:5%
5 Years:11%
3 Years:8%
TTM:41%
Stock Price CAGR
10 Years:12%
5 Years:13%
3 Years:10%
1 Year:31%
Return on Equity
10 Years:16%
5 Years:15%
3 Years:14%
Last Year:16%

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
19 19 19 18 18 18 18 18 18 18 18 17 17
Reserves 404 508 598 677 766 827 919 1,065 1,252 1,259 1,428 1,530 1,710
Borrowings 6 5 4 4 3 3 2 1 1 1 1 6 7
117 148 149 163 179 211 210 182 197 228 194 260 266
Total Liabilities 546 679 769 863 966 1,059 1,148 1,266 1,468 1,505 1,640 1,813 2,001
243 256 277 293 289 284 393 675 678 674 682 674 674
CWIP 27 30 10 11 7 18 29 20 6 13 12 24 17
Investments 111 229 263 340 416 417 489 325 491 471 585 665 836
165 165 220 219 254 340 237 246 293 348 360 451 474
Total Assets 546 679 769 863 966 1,059 1,148 1,266 1,468 1,505 1,640 1,813 2,001

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
88 168 121 144 150 150 128 174 154 150 112 250
-51 -127 -33 -108 -107 -55 -89 -73 -144 21 -121 -98
-42 -37 -58 -58 -63 -75 -48 -97 0 -169 -0 -142
Net Cash Flow -4 4 30 -22 -20 19 -9 4 11 1 -8 10

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 % 28% 36% 29% 25% 23% 25% 21% 22% 21% 19% 17% 21%
Debtor Days 22 21 21 22 20 26 25 23 27 28 29 34
Inventory Turnover 3.01 2.91 3.32 2.99 3.23 3.39 3.18 3.00 2.68 2.51 2.21 2.36

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
69.07 69.07 69.07 69.07 69.07 69.24 69.24 69.24 69.24 69.24 69.35 69.35
9.51 9.56 9.04 8.86 8.56 8.76 7.62 5.65 5.31 6.72 6.41 5.71
3.95 3.76 5.01 5.25 6.06 5.93 7.01 5.61 5.11 3.67 3.79 4.02
17.47 17.61 16.88 16.82 16.31 16.08 16.13 19.50 20.34 20.37 20.45 20.92

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